SPY pays dividends on quarterly expiration Friday in Mar, Jun, Sep, Dec.
When testing order_target_percent
order_target_percent
I find out that they appear in log book as reinvested shares six week later on last day of the month in Jan, Apr, Jul, Oct.
Why six week later?
This is normal - dividends do not land in your account instantly. For SPY they seem to take about 6 weeks to come through.
Essentially, a company sets an 'ex-div date', the day before which anyone holding a position in SPY will be recorded to receive the dividend.
If you hold SPY on or after the ex-div date you don't get the dividend.
The 'Pay Date', set by the company, will be known to you at the time -- this is when you will actually receive the money (i.e. about 6 weeks later)
For instance, SPY's last quarter dividend of $1.1349 (ex-div date: 19th Dec 2014) had a pay date of 30th Jan 2015.
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