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Dividends

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Overview

Dividends are a form of capital distribution paid to shareholders. They can be issued in various forms, most commonly as cash payments or additional shares of stock. Companies may pay dividends on a regular basis, such as quarterly, or as special one-off dividends that are typically issued due to exceptional earnings or significant events.

See also
See also

Corporate actions dataset guide for further details.

Requesting dividends

This example demonstrates how to use the Reference client to retrieve all Costco dividends from the beginning of 2019 through 2020. Costco is a good example of a company that pays a regular quarterly dividend. Additionally, we can observe the inclusion of a special dividend during this period.

We can query for dividends specifically by filtering for the DIV (Dividend) event type. Once we obtain the records, we can filter the relevant columns for analysis.

import databento as db

# Create a reference client
ref_client = db.Reference(key="YOUR_API_KEY")

# Request corporate actions
df_raw = ref_client.corporate_actions.get_range(
    symbols=["COST"],
    start="2019",
    end="2021",
    index="ex_date",
    events=["DIV"],
    countries=["US"],
)

# Filter relevant columns
columns = [
    "record_date",
    "payment_date",
    "payment_type",
    "marker",
    "frequency",
    "gross_dividend",
    "operating_mic",
    "isin",
    "symbol",
    "issuer_name",
]
df = df_raw[columns]

df.head(10)

Result

           record_date payment_date payment_type marker frequency  gross_dividend operating_mic          isin symbol            issuer_name
ex_date
2019-02-07  2019-02-08   2019-02-22            C    INT       QTR            0.57          XNAS  US22160K1051   COST  Costco Wholesale Corp
2019-05-09  2019-05-10   2019-05-24            C    INT       QTR            0.65          XNAS  US22160K1051   COST  Costco Wholesale Corp
2019-08-29  2019-08-30   2019-09-13            C    INT       QTR            0.65          XNAS  US22160K1051   COST  Costco Wholesale Corp
2019-10-31  2019-11-01   2019-11-15            C    INT       QTR            0.65          XNAS  US22160K1051   COST  Costco Wholesale Corp
2020-02-06  2020-02-07   2020-02-21            C    INT       QTR            0.65          XNAS  US22160K1051   COST  Costco Wholesale Corp
2020-04-30  2020-05-01   2020-05-15            C    INT       QTR            0.70          XNAS  US22160K1051   COST  Costco Wholesale Corp
2020-07-30  2020-07-31   2020-08-14            C    INT       QTR            0.70          XNAS  US22160K1051   COST  Costco Wholesale Corp
2020-10-29  2020-10-30   2020-11-13            C    INT       QTR            0.70          XNAS  US22160K1051   COST  Costco Wholesale Corp
2020-12-01  2020-12-02   2020-12-11            C    SPL        UN           10.00          XNAS  US22160K1051   COST  Costco Wholesale Corp

Special dividends

Special dividends are one-time or irregular dividend payments made by a company, typically in addition to regular dividend distributions. Unlike regular dividends, which are usually paid on a fixed schedule (e.g., quarterly or annually), special dividends are declared in response to exceptional circumstances, such as significant financial gains, asset sales, or other extraordinary events.

For example, consider the special dividend paid by Costco on December 11, 2020:

  • marker was SPL (Special)
  • frequency was UN (Unspecified)
  • The dividend was paid less than a month after the previous quarterly dividend

Fields

The table below provides detailed descriptions for each dividend-specific field found in the dynamic info JSON fields.

Field Description
marker The dividend marker. See the MARKER enum lookup table.
frequency The dividend frequency. See the FREQ enum lookup table.
declaration_date The date the dividend was announced by the issuer.
period_end_date The end of the financial period for which the dividend is being paid.
foreign_ex_date The date on which the US dollar rate to currency value was taken.
ex_date2 This is the ex date value for stock component of a dividend with a payment_type of (B)oth stock and cash. The main ex_date field will be for the cash payment portion of the same record.
payment_date2 This is the payment date value for stock component of a dividend with a payment_type of (B)oth stock and cash. The main payment_date field will be for the cash payment portion of the same record.
tba_flag The company intends to pay a dividend but the details are yet to be announced.
nil_dividend A real dividend event but of zero payrate.
div_rescind A dividend event but of zero payrate.
decl_currency The declared currency - ISO 4217.
decl_gross_amount The declared gross amount.
approx_flag If dividend is temporarily an approximate value.
tax_rate The domestic withholding tax rate.
coupon In countries where coupons are to be submitted to obtain a benefit this field is useful.
coupon_id The coupon ID.
div_rate The rate of dividend as a percentage of par value.
cur_pair Identifies the different currencies involved for the FX rate to be applied - ISO 4217.
dep_fees Depositary Fees - applies only to DR dividend.
dep_fees_currency Depositary Fees currency - ISO 4217.
rescind_cash_div If cash dividend cancelled.
rescind_stock_div If stock dividend cancelled.
usd_rate_to_currency The US dollar exchange rate for dividend currency.
div_postponed Indicating postponement of dividend payment.

Dividend types

The marker field specifies the type of dividend. See MARKER enum lookup table for possible values.

The table below provides detailed descriptions for each dividend type:

Value Description
ANL Annual: Refers to a dividend that is paid once per year.
ARR Arrears: Denotes a dividend payment made to cover missed or deferred dividends from previous periods.
CG Capital Gain: Indicates a dividend that is categorized as a gain realized from the appreciation of an asset.
CGL Capital Gain Long Term: Refers to a capital gain from an asset held for more than a year before being sold, often benefiting from preferential tax treatment.
CGS Capital Gain Short Term: Refers to a capital gain from an asset held for less than a year before being sold, typically subject to higher tax rates.
FNL Final: Indicates that this dividend is the last payment related to a particular series or event.
INS Installment: Refers to dividends paid in multiple payments over a period rather than a single lump sum.
INT Interim: A dividend paid between regular annual dividends, often reflecting earnings for a part of the year.
ISC Interest on Capital: Represents payments made as interest on the capital invested in a company or financial product.
MEM Memorial: Indicates a dividend paid in memory of an individual, often reflecting a special purpose or tribute.
QTR Quarterly: Refers to dividends paid every three months.
REG Regular: Denotes dividends that are paid at regular intervals, typically on a fixed schedule.
SMA Semi-annual: Refers to dividends paid twice a year.
SPL Special: Indicates a one-time or irregular dividend payment, often separate from regular dividends.
SUP Supplementary: Refers to additional dividends paid in addition to regular payments, usually reflecting extra earnings or adjustments.
UN Unspecified: Indicates that the dividend type is not defined or categorized under the specified options.
VAR Variable: Refers to dividends that can vary in amount or frequency, based on company performance or other factors.

Dividend frequency

The frequency field specifies the frequency of dividend payments or occurrences. See FREQ enum lookup table for possible values.

The table below provides detailed descriptions for each dividend frequency:

Value Description
28D 28 Days: Dividend occurs every 28 days.
35DAY Every 35 Days: Dividend occurs every 35 days.
BIM Bi-Monthly: Dividend occurs every two months.
DLY Daily: Dividend occurs every day.
FNL Final: The last dividend in a series.
INT Interim: Dividend occurring between regular annual payments.
INTONMAT Arrears: Interest paid upon the maturity of a financial product.
INTONTRIG Interest on Trigger: Interest paid when a specific trigger condition is met.
IRG Irregular: Dividend occurs at irregular intervals.
ITM Interest on Maturity: Interest paid upon the maturity of a financial product.
MNT Monthly: Dividend occurs every month.
QTR Quarterly: Dividend occurs every three months.
SMA Semi-Annual: Dividend occurs twice a year.
TRM Trimesterly: Dividend occurs every four months (three times a year).
UN Unspecified: Dividend frequency is not defined or categorized.
WKL Weekly: Dividend occurs every week.