Money Market Fund Dividend Accrual Policy

General policy:

  • The funds accrue dividends daily.
  • Dividends are paid out on the last business day of the month.
  • Reinvested dividends begin accruing on the first business day of the month.
  • For same-day transactions, dividends accrue on the date of the purchase and do not accrue on the date of redemption.

Weekends and holidays:

  • If the month-end or year-end falls on a weekend, a Friday, or a holiday, dividends accrue through the calendar month-end.
  • Weekend dividends are included in Friday's daily factor.
  • A holiday daily factor is included in the previous business day's daily factor.