Direct answer: SCHD pays dividends four times a year — in March, June, September and December. The fund declares a dividend, sets an ex-dividend date, records who owns shares, and pays about five days later. To receive a payment, you must own SCHD shares before the ex-dividend date. This guide explains the key dates and when the next dividend is expected.
If you own SCHD, or are thinking about buying it for income, the payment schedule is the first practical thing to understand. Unlike a monthly dividend fund, SCHD pays quarterly: your income arrives in four lump sums a year, not twelve small ones. And unlike a single stock, SCHD’s dividend is the combined payout of about 102 companies, collected by the fund and passed on to you. This guide explains the four key dates behind every payment, the verified payment history for 2025 and 2026, how much a given number of shares pays each quarter, and how to find out when the next dividend is coming. The free Calcrio SCHD dividend calculator turns your share count into annual, quarterly, and monthly-equivalent income in seconds.
Does SCHD Pay Monthly or Quarterly?
SCHD pays quarterly — four times a year, in March, June, September, and December. It does not pay monthly. This surprises some new investors, because several popular income funds (such as JEPI) do pay monthly. SCHD tracks the Dow Jones U.S. Dividend 100 Index — only companies that have paid dividends for at least 10 consecutive years qualify — and follows the quarterly rhythm of the companies it holds.
What does quarterly mean for your income? Take 100 shares: at the latest quarterly payment of $0.2665 per share (September 2026), 100 shares pay $26.65 — but only four times a year, not twelve. Your annual income is still about $105 (100 × $1.05 trailing dividend per share), but it arrives as four payments of roughly $25–$28. For a monthly planning figure, divide the annual total by 12 — a monthly equivalent, not a monthly payment. Our guide on how much SCHD you need for $100, $500 or $1,000 a month works through that math.
The Four Dates Behind Every SCHD Dividend
Every quarterly payment passes through four dates, always in the same order. The one that matters most is the second — the ex-dividend date.
Step 1 — Declaration date. The fund announces the dividend amount and the dates for the other three steps, usually a few days before the ex-dividend date.
Step 2 — Ex-dividend date (the critical one). The ex-dividend date is the first day the shares trade without the right to the upcoming dividend. You must own SCHD shares before the ex-dividend date to receive that quarter’s payment. Buy on or after it, and the payment goes to the person who sold you the shares instead. It is normally one business day before the record date.
Step 3 — Record date. The fund checks its shareholder register on this date to decide who gets paid. Because trades settle in two business days, buying before the ex-dividend date puts you on the register in time; your broker handles it.
Step 4 — Pay date. The cash lands in your brokerage account about five days after the ex-dividend date. If you have a dividend reinvestment plan (DRIP) turned on, the cash is instead used to buy more SCHD shares automatically — see our SCHD DRIP compounding guide for the math.
The chain: Declaration → Ex-dividend date → Record date → Pay date. The rule: buy before the ex-dividend date, get paid; buy on or after it, wait for the next quarter.
SCHD Dividend Payment History: 2025–2026
These are the verified payments of the last two years, from StockAnalysis.com’s dividend history (accessed 28 October 2026). Amounts are per share.
| Ex-dividend date | Amount per share | Pay date |
|---|---|---|
| 10 December 2025 | $0.2782 | 15 December 2025 |
| 25 March 2026 | $0.2569 | 30 March 2026 |
| 24 June 2026 | $0.2525 | 29 June 2026 |
| 23 September 2026 | $0.2665 | 28 September 2026 |
A few things stand out. Payments vary from quarter to quarter. June 2026 ($0.2525) was smaller than March ($0.2569), and September ($0.2665) larger than both — SCHD’s dividend is not fixed; it depends on what the 102 companies pay each quarter. The December payment is usually the largest. December 2025’s $0.2782 was the biggest of that year’s four, and the full-year 2025 total was $1.0476 per share. The gap between ex-date and pay date is about five days in every row.
The trailing twelve-month dividend — the last four payments — totals $0.2782 + $0.2569 + $0.2525 + $0.2665 = $1.0541, usually rounded to $1.05 per share. That $1.05 is the dividend behind SCHD’s roughly 3.00% yield at the 27 October 2026 price of $35.13. Our guide to the SCHD dividend yield explains the calculation.
Worked Example: What 100 Shares of SCHD Paid in 2026
Take 100 shares held through the first three payments of 2026:
Step 1 — March 2026 payment: 100 shares × $0.2569 = $25.69 (paid 30 March 2026).
Step 2 — June 2026 payment: 100 shares × $0.2525 = $25.25 (paid 29 June 2026).
Step 3 — September 2026 payment: 100 shares × $0.2665 = $26.65 (paid 28 September 2026).
Step 4 — Total so far in 2026: $25.69 + $25.25 + $26.65 = $77.59.
| Quarter | Payment per share | 100 shares receive | Pay date |
|---|---|---|---|
| March 2026 | $0.2569 | $25.69 | 30 March 2026 |
| June 2026 | $0.2525 | $25.25 | 29 June 2026 |
| September 2026 | $0.2665 | $26.65 | 28 September 2026 |
| Total (3 quarters) | $0.7759 | $77.59 | — |
Scale it up and the pattern is the same: 1,000 shares would have received $256.90 in March, $252.50 in June, and $266.50 in September — $775.90 across the three quarters. The December payment, once declared, completes the year’s total. To work out your own quarterly payments for any share count, use the free estimate SCHD dividend income tool at Calcrio.
When Is SCHD’s Next Dividend?
As of 28 October 2026, the December 2026 payment has not yet been declared — no official amount or date from Schwab. Estimates point to roughly $0.285 per share around 12 December 2026, with a pay date near 14 December 2026 (DripCalc, 27 October 2026; TipRanks). Treat those as estimates, not facts.
Based on the last two years: declaration in early December 2026; ex-dividend date around 10–12 December 2026 (December 2025’s was 10 December); pay date about five days later, around 14–17 December 2026.
If you are buying SCHD to capture the December payment, your purchase must settle before the ex-dividend date. Buying on the ex-dividend date itself is too late — though the share price typically drops by roughly the dividend amount then, so “buying the dividend” is not free money. This article is educational only and is not financial advice.
How to Check the Next SCHD Dividend Date
The dates above are estimates until Schwab declares the payment. Here is how to check the real dates:
- Schwab’s fund page. Search for SCHD at schwab.com — the official source.
- StockAnalysis.com. Its SCHD dividend page lists every past payment with ex-date and pay date, and updates quickly when a new one is declared.
- Your broker. Most brokerages show upcoming dividends for your holdings, including the ex-date and expected pay date, once declared.
- Dividend calendars. TipRanks and Dividend Vision publish estimated SCHD dates in advance — useful for planning, but always confirm against Schwab.
Check once in early December, March, June, and September — the weeks SCHD declares its four payments.
What Happens to Your Dividends After They Are Paid?
Once the cash arrives, you have three choices:
- Take the cash. It sits in your brokerage account as spendable cash — the default in most accounts.
- Reinvest automatically (DRIP). Your broker uses each quarterly payment to buy more SCHD shares — including fractional shares — so your share count grows without new money. Our SCHD DRIP compounding guide shows the 10-year math.
- Reinvest manually. Take the cash and decide each quarter where to put it. This gives you control but requires discipline to actually reinvest instead of spending it.
One important note: reinvested dividends are still taxable in the year they are paid if you hold SCHD in a taxable brokerage account. The IRS treats the dividend as income whether you take the cash or buy more shares. In a tax-advantaged account such as an IRA, the tax treatment is different — check your own situation.
Estimate Your SCHD Income Free
The free Calcrio SCHD Dividend Calculator turns this schedule into your own numbers: enter your share count or investment amount for estimated annual, quarterly, and monthly-equivalent dividend income, with a DRIP mode and a target-income mode for a chosen monthly income. It is free, with no sign-up. Try it here: estimate SCHD dividend income.
Frequently Asked Questions
Does SCHD pay monthly?
No. SCHD pays quarterly — in March, June, September and December — so you receive four larger payments instead of twelve small ones.
When does SCHD pay dividends?
In March, June, September and December each year. The most recent payment was $0.2665 per share, ex-date 23 September 2026, pay date 28 September 2026.
What is an ex-dividend date?
It is the first day shares trade without the right to the next dividend. You must own SCHD before it to receive that quarter’s payment; buying on or after it means waiting until next quarter.
When is SCHD’s next dividend?
Not yet declared as of 28 October 2026. Estimates point to roughly $0.285 per share around 12 December 2026, with payment near 14 December 2026 — estimates, not announced figures. Check Schwab’s fund page for the official declaration.
How much does 100 shares of SCHD pay per quarter?
At the latest payment of $0.2665 per share, 100 shares pay $26.65 per quarter. Across the first three quarters of 2026, 100 shares paid $77.59 in total.
Are SCHD dividends taxed if I reinvest them?
Yes, in a taxable brokerage account, reinvested dividends are still taxed as income in the year they are paid. Reinvesting does not defer the tax. Retirement accounts are treated differently — check your own situation.
All figures are as of 28 October 2026 unless stated otherwise. Dividend amounts, dates, and prices change over time — verify the current figures before making any investment decision. This article is for education only and is not financial advice.