BIL Dividend: Next Ex-Date, History & Total Return

The State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg 1-3 Month U.S. Treasury Bill Index. Under normal market conditions, BIL generally invests substantially all, and at least 80%, of its total assets in the index's securities and in securities the adviser determines have substantially identical economic characteristics.¹

BIL uses a sampling strategy, so it is not required to buy every security in the index. The adviser may buy a subset of the index's bills in an effort to hold a portfolio with generally the same risk and return characteristics, or it may hold substantially all of them in approximately the same proportions as the index.¹

BIL's index includes all publicly issued U.S. Treasury Bills that have a remaining maturity of at least 1 month and less than 3 months and are rated investment-grade. The bills must also be denominated in U.S. dollars and have a fixed rate. Bloomberg Index Services Limited, which is not affiliated with the fund or the adviser, determines the index's composition and the relative weightings of its securities.¹

The index is market capitalization weighted, with bills held in the Federal Reserve System Open Market Account deducted from the amount outstanding. That account is the Federal Reserve's portfolio of U.S. Treasuries, Federal Agency securities and foreign currency investments. The index's membership is updated on the last business day of each month.¹

Dividend Stacker's record of past payments, adjusted for any share splits, shows BIL paid 12 distributions totaling $1.45 per share in 2008. The total fell 94.1% to $0.0858 per share in 2009. BIL paid nothing in 2010, made a single $0.0038 distribution in 2011, and paid nothing from 2012 through 2015.²

Payments came back in 2016 with 2 distributions totaling $0.0608 per share. The annual total rose 928.8% to $0.6255 in 2017, 142.7% to $1.52 in 2018 and 23.2% to $1.87 in 2019. In 2020 it fell 85.3% to $0.2755 across 5 distributions. BIL paid nothing in 2021.²

The 2022 total was $1.24 per share from 9 distributions. It rose 264.4% to $4.50 in 2023 and 2.1% to $4.60 in 2024, with 12 distributions in each year, then fell 17.9% to $3.77 in 2025. State Street's 2026 distribution schedule lists BIL among its monthly-paying funds.^2,3

BIL's income may decline due to falling interest rates or other factors. The prospectus also warns that when rates are at low levels the fund's yield can be low, and it may have a negative yield, meaning it may lose money on an operating basis.¹

Because BIL invests in U.S. Treasury obligations, changes to the financial condition or credit rating of the U.S. government may cause those holdings to lose value. Fund shares will change in value, and they are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.¹

Duration measures a bond's or portfolio's sensitivity to changes in interest rates, and BIL's fact sheet says short duration fixed income is less exposed to fluctuations in interest rates than longer duration securities. A rising interest rate environment may still cause the value of the fund's fixed income securities to decrease.^1,4

Prices of investments can change substantially due to factors including changes in interest rates, and stressed market conditions may limit BIL's ability to sell a security at an advantageous time or price or at all. Some holdings may be valued on factors other than market quotations, which may occur more often in times of market turmoil or reduced liquidity.¹

Because BIL samples its index and pays operating expenses the index does not, its return may not match the index's return. Its shares trade on the exchange at market prices that may be above or below net asset value, and the prospectus says this risk is heightened in times of market volatility or steep market declines.¹