June marks the end of the second quarter and first half of 2008. It also marks the time when funds paying semiannual or quarterly distributions dole out the income they’ve receive during the period, after subtracting expenses.

If you’re a taxable investor (that is, you aren’t investing through a 401(k), IRA, or other tax-deferred account), remember to delay making sizable investments in funds poised to pay a dividend.

Otherwise, you will receive a portion of your money back as taxable income.

Also, as I often suggest, taking distributions into a money market fund and then redeploying is a good way to "rebalance."

Below, I’ve listed the funds scheduled to pay out in June.

Note that on ETF shares like those for the MegaCap or Extended Duration Treasury funds, the actual distribution into your brokerage account, particularly a reinvestment, could take place in July depending on Vanguard Brokerage’s ability to process them.

500 Index	High-Dividend Yield Index	STAR Moderate Growth
Asset Allocation	Inflation-Protected Securities	Target Retirement Income
Balanced Index	LargeCap Index	Tax-Managed Balanced
Convertible Securities	MegaCap Growth Index	Tax-Managed Growth & Income
Dividend Appreciation Index	MegaCap Index	Total Stock Market Index
Dividend Growth	MegaCap Value Index	Utilities Index
Extended Duration Treasury	REIT Index	Value Index
Equity Income	STAR	Wellesley Income
Financials Index	STAR Conservative Growth	Wellington
Growth & Income	STAR Growth	Windsor
Growth Index	STAR Income	Windsor II

 

Be prepared for distributions! Accept a risk-free trial to The Independent Adviser for Vanguard Investors today and you’ll always:


• Know what to expect from year-end, quarterly and special distributions;
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