{"slug":"how-adrs-work-ratios-and-fees","qid":"adr_payout_cadence","label":"Dividend cadence and annual cash per share, receipts against US payers","post_title":"How ADRs Work: Ratios, Fees and Dividends","post_url":"/blog/how-adrs-work-ratios-and-fees#q-adr_payout_cadence","columns":["ticker","paid_in","payments_per_year","usd_per_share_per_year"],"rows":[{"ticker":"BTI","paid_in":"USD","payments_per_year":4,"usd_per_share_per_year":3.09},{"ticker":"JNJ","paid_in":"USD","payments_per_year":4,"usd_per_share_per_year":5.02},{"ticker":"KO","paid_in":"USD","payments_per_year":4,"usd_per_share_per_year":1.99},{"ticker":"PG","paid_in":"USD","payments_per_year":4,"usd_per_share_per_year":4.1},{"ticker":"TSM","paid_in":"USD","payments_per_year":4,"usd_per_share_per_year":2.75},{"ticker":"UL","paid_in":"USD","payments_per_year":4,"usd_per_share_per_year":2},{"ticker":"NVO","paid_in":"USD","payments_per_year":1.7,"usd_per_share_per_year":1.29},{"ticker":"SAP","paid_in":"USD","payments_per_year":1,"usd_per_share_per_year":2.65}],"shape":"ranking","sql":"SELECT\n    ticker,\n    any(currency)                          AS paid_in,\n    round(count() / 3.0, 1)                AS payments_per_year,\n    round(toFloat64(sum(cash)) / 3.0, 2)   AS usd_per_share_per_year\nFROM\n(\n    SELECT\n        ticker,\n        ex_dividend_date,\n        any(cash_amount) AS cash,\n        any(currency)    AS currency\n    FROM global_markets.stocks_dividends\n    WHERE ticker IN ('TSM', 'NVO', 'SAP', 'UL', 'BTI', 'KO', 'JNJ', 'PG')\n      AND ex_dividend_date >= today() - 1095\n      AND ex_dividend_date <  today()\n    GROUP BY ticker, ex_dividend_date\n)\nGROUP BY ticker\nORDER BY payments_per_year DESC, ticker","computed_at":"2026-08-22T04:08:23.314651+00:00","elapsed":0.046382165}