Invesco’s (NYSE: IVZ) PowerShares unit, the fourth-largest U.S. ETF sponsor, said its largest ETF, the PowerShares QQQ (NasdaqGS: QQQ), will pay a special dividend on Friday, March, 7, 2014.
The special dividend is due to a corporate action event by Vodafone Group PLC (NasdaqGM: VOD), which is held by QQQ. As of February 20, 2014 Vodafone represented 0.93% of total holdings in QQQ, according to a statement issued by PowerShares after the close of U.S. markets Friday.
QQQ, the so-called NASDAQ 100 tracking ETF, charges 0.2% per year. The ETF is home to $46.7 billion in assets under management, making it the fourth-largest U.S. ETF.
The ex-date for the special dividend is Feb. 27 with the record payable date being March 3, according to the statement. The amount of the special dividend was not mentioned in the statement. QQQ’s trailing 12-month yield is just under 1%, according to PowerShares data.