TLTW Dividend Calculator
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF distributes every month. Our TLTW record covers 287 days, short of the twelve months a trailing payout needs, so the field below opens empty rather than part-filled.
Enter the share price you are paying to see the projection. We publish no price data, so this is the one figure the page cannot fill in for you.
Payout figures read from iShares on Aug 18, 2026. You supply the share price. The TLTW record page holds every payment behind these figures.
What the TLTW Calculator Loads, and the Arithmetic Behind It
Our TLTW record holds 10 payments between November 4, 2025 and August 4, 2026, totalling $1.9680 per share across 287 days. Worked on a round position, 1,000 shares collected $1,967.95 of cash over that stretch. That is a real figure for a real period, and it is not an annual dividend.
Turning it into one would mean multiplying by 1.27 to stretch 287 days to 365. The record argues against that. Splitting the window at March 27, 2026, the 5 payments before it averaged $0.2262 and the 5 after averaged $0.1674, a difference of 26%. Which end you scale from decides the answer, which is the definition of a figure the record does not support. The field stays empty and you enter the figure you want to model.
On the record we hold, a trailing twelve-month sum first becomes computable around November 4, 2026, assuming TLTW keeps distributing on its current schedule. Until then the honest input is a number you chose and can explain. Every payment behind these totals is listed on the TLTW record page.
What TLTW's monthly Cadence Does to the Model
TLTW distributes every month, which is 12 payments a year. The projection above steps once a year, so a twenty-year run performs 20 reinvestments where TLTW would have offered 240. Every payment between the annual steps is treated as though it arrived on the last day of the year. Observed gaps between TLTW ex-dates ran 21 to 42 days, median 30.
We put no number on the reinvestment-timing effect for TLTW. Measuring it means running a year of payments through a reinvestment sequence, and our record covers 287 days across 10 payments. A figure computed on that and labelled first-year would be a year-shaped number that is not a year.
One term decides how far the annual step falls short, and for TLTW it is 44.4%: a measure of how evenly the window's cash is split across its payments. A single lump scores zero, four equal payments 37.5%, twelve 45.8%, and fifty-two 49.0%. TLTW sits near the even end, which is where the annual-step model understates reinvestment most.
Where TLTW's Cash Actually Landed
The 9 complete calendar months ending Jul 2026, from TLTW's recorded ex-dates, split-adjusted, as of 2026-08-18. Income is what 1,000 shares would have collected. A projection divides one annual figure by twelve; the record did this instead. The 1 payments since Jul 2026 ended sit in a month that is not over, so they are left out of this table and the total below it.
| Month | Payments | Per Share | On 1,000 Shares | Share of Window |
|---|---|---|---|---|
| Nov 2025 | 1 | $0.3783 | $378.28 | 20.8% |
| Dec 2025 | 2 | $0.3745 | $374.47 | 20.6% |
| Jan 2026 | 0 | $0.0000 | $0.00 | 0.0% |
| Feb 2026 | 1 | $0.1742 | $174.19 | 9.6% |
| Mar 2026 | 1 | $0.2040 | $204.02 | 11.2% |
| Apr 2026 | 1 | $0.2115 | $211.46 | 11.6% |
| May 2026 | 1 | $0.1214 | $121.43 | 6.7% |
| Jun 2026 | 1 | $0.2172 | $217.15 | 12.0% |
| Jul 2026 | 1 | $0.1347 | $134.66 | 7.4% |
| 9 months | 9 | $1.8157 | $1,815.66 | 100.0% |
Nov 2025 was the largest month at $0.3783 per share, carrying 20.8% of the 9-month total on its own. 1 of the 9 months paid nothing at all, which is what a quarterly or occasional schedule looks like once a monthly income plan is laid over it.
Shares and Capital for a Monthly Income Target from TLTW
We cannot compute this for TLTW without inventing the input. Shares needed for a monthly target is that target times twelve divided by an annual payout per share, and our TLTW record covers 287 days rather than a year, so there is no annual payout to divide by. The 10 payments we hold total $1.9680 per share, which is what those 287 days paid and nothing more. On the current schedule the missing arithmetic becomes available around November 4, 2026. Until then, enter your own annual figure in the calculator above and read its first-year income line, which is the same division performed on your assumption rather than on ours.
The Growth Input for TLTW
There is no rate TLTW's record supports, and this page will not invent one. Growth needs two complete calendar years of payouts, or two full years of coverage. Our TLTW record starts 2025-11-04 and holds no complete calendar year yet across 10 payments. On the record we hold, the rolling comparison can first be computed on November 4, 2027 and the calendar-year comparison on January 1, 2028, so this figure fills in around November 2027 as long as TLTW keeps distributing on its current schedule.
Leave the field at zero for the run you take seriously, which models TLTW paying what it has paid, then run it again at a rate you can defend. The distance between the two answers is the part that came from you rather than from the record.
What Makes TLTW Hard to Model
Each item is triggered by something computed from TLTW's own record and carries the figure that triggered it.
TLTW's payout is generated, not declared, so a growth rate is the wrong control. iShares 20+ Year Treasury Bond BuyWrite Strategy ETF pays out of a buy-write programme, meaning call premium written against the bonds it holds. An operating company sets a dividend as policy and moves it in small deliberate steps, which is exactly the behaviour a constant annual growth rate describes. The payout therefore moves with option pricing and with the coupon income underneath it, two things that do not move together and neither of which is set by a distribution policy. Our record bears that out: across trailing twelve months TLTW's payments ran from $0.1214 to $0.3783, a spread of 212%. The growth field on this calculator was built for the first kind of payer. On this one it compounds a number nobody is steering.
TLTW's record cannot supply a growth rate, so any rate you type is invented. A growth figure needs two comparable windows to set against each other, and our TLTW record holds 10 payments from November 4, 2025 with no complete calendar year in them yet. One window is not a comparison. On our TLTW record the earliest it can be filled is November 2027.
A single TLTW payment is a bad basis for an annual figure. Across trailing twelve months the smallest TLTW payment was $0.1214 on May 4, 2026 and the largest $0.3783 on November 4, 2025, a spread of 212%. Multiplying those by the 12 payments a year the cadence implies gives $4.54 against $1.46 per share, so the annual dividend field could be filled with figures 3.1 times apart depending only on which payment you happened to look at. Use a summed trailing figure rather than any one payment.
TLTW's payments moved inside the window the model treats as one flat year. Splitting the 10 payments at March 27, 2026, the 5 before it averaged $0.2262 and the 5 after averaged $0.1674, which is 26% smaller. The projection model has no way to represent a drift inside a year: it takes one annual figure and one growth rate. Feeding it a trailing total that spans both halves builds in a payout level that neither half actually paid.
iShares (BlackRock) publishes a 30-day SEC yield for TLTW, which is not the payout this page loads. The published figure is 4.65% as of 2026-08-17. A 30-day SEC yield is a standardised calculation on the fund's net investment income over one month, built so bond funds can be compared with each other. It is not the cash the fund distributed, and it is not what a dividend calculator wants in the annual dividend field. Our TLTW record does not yet span twelve months, so neither figure can be turned into an annual payout here.
Starting a TLTW Projection Today
A projection books a full year of income in year one. Today is August 21, 2026, 233 days into 2026. TLTW has already gone ex-dividend 7 times in 2026, for $1.2152 per share, and buying now collects none of it. On the observed cadence, about 4 more payments would fall before 31 December, which is 33% of a normal year for TLTW. That is a read of the record rather than a schedule TLTW has published.
Nothing further is declared for TLTW on our record, so every payment inside the projection is a modelled one. Based on the 30-day gap the record shows, the next ex-date would ordinarily land between Aug 25, 2026 and Sep 12, 2026, which is a pattern rather than an announcement. Read year one as twelve months from your purchase date, not the rest of this calendar year.
Frequently Asked Questions
What annual dividend figure should I use for TLTW?
None that we can hand you. Our TLTW record starts November 4, 2025 and holds 10 payments totalling $1.9680 per share across 287 days, which is less than a year, so any annual figure would be that sum scaled by an assumption we have no basis for. The field opens empty on purpose. On the record we hold, a trailing twelve-month sum first becomes computable around November 4, 2026 if TLTW keeps distributing on its current schedule.
What growth rate should I put in the TLTW calculator?
Zero for the run you take seriously, then a second run at a rate you can defend out loud. TLTW has no two comparable windows on our record, so there is no realised rate to offer you and we will not invent one. On our TLTW record the earliest it can be filled is November 2027.
Are taxes included in the TLTW projection?
No. Every figure the calculator produces is pre-tax and ignores trading costs. Fund distributions can carry components taxed differently from qualified dividends, and the split arrives with the year-end tax documents rather than with each payment.
Why does the TLTW calculator ask me for the share price?
Because we publish no prices. Every figure here carries the date its source was read, and a live quote cannot. iShares (BlackRock) publishes no distribution rate for TLTW that we could turn into an implied price by arithmetic, so the price field starts empty.
Every payment, split adjustment, and calendar-year total behind these figures is on the TLTW dividend history page. Other payers whose distributions come out of an options programme are listed on the coverage table. The general-purpose tools sit on the calculator hub, and the model is written out on the methodology page.