POAGX No Dividend Distributions?

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aristotelian
Posts: 12262
Joined: Wed Jan 11, 2017 7:05 pm

POAGX No Dividend Distributions?

Post by aristotelian »

According to the information I can see on the Primecap website as well as third party sources like Fidelity and Morningstar, POAGX has had zero dividend distributions since 2018. When it has paid dividends, they have been tiny ($.02 in 2018, $.0026 in 2015, etc). However, they have paid relatively enormous capital gain distributions. Can anyone explain how they have paid such low dividends when at least some of the stocks in the fund are dividend payers? Are they doing something like selling stocks before their dividend dates and then rebuying them?

Dividend History Dividend History Additional Information
Date Per Share Amount Reinvestment Price
12/17/18 $0.02583 $38.81
12/16/15 $0.00257 $32.35
12/16/14 $0.05742 $31.09

Capital Gains History Capital Gains History Additional Information
Date Per Share Amount Reinvestment Price
12/15/22 $3.9063 $37.26
12/15/21 $5.85035 $51.55
12/15/20 $4.20611 $53.13
12/17/19 $2.39173 $44.72
sycamore
Posts: 6310
Joined: Tue May 08, 2018 12:06 pm

Re: POAGX No Dividend Distributions?

Post by sycamore »

Only net income has to be distributed to shareholders, so perhaps most/some of the dividends paid by POAGX holdings goes to cover the fund's 0.65% expense ratio.

And I'd guess the fund's growth tilt means they don't get all that much in dividend income in the first place.

Presumably you could look up gross/net income and expense info in the fund's documentation. Prospectus or some other SEC document I'd guess.
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sperry8
Posts: 3065
Joined: Sat Mar 29, 2008 9:25 pm
Location: Miami FL

Re: POAGX No Dividend Distributions?

Post by sperry8 »

sycamore wrote: Tue Mar 21, 2023 3:52 pm Only net income has to be distributed to shareholders, so perhaps most/some of the dividends paid by POAGX holdings goes to cover the fund's 0.65% expense ratio.

And I'd guess the fund's growth tilt means they don't get all that much in dividend income in the first place.

Presumably you could look up gross/net income and expense info in the fund's documentation. Prospectus or some other SEC document I'd guess.
Another thing I learned today. I wondered if they had an investing rule about not investing in stocks that generate dividends. But apparently not. They just look for growth stocks who rarely do and can write off divs below their ER
BH Contests: 23 #89 of 607 | 22 #512 of 674 | 21 #66 of 636 |20 #253/664 |19 #233/645 |18 #150/493 |17 #516/647 |16 #121/610 |15 #18/552 |14 #225/503 |13 #383/433 |12 #366/410 |11 #113/369 |10 #53/282
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