2019 Dividend payment schedule

2019 Dividend schedule for open-end funds

This schedule is subject to change by the boards of trustees/directors of the funds.

Glossary Word X

Contents

Monthly	Daily declaring funds gain distributions
Quarterly	Daily declaring funds income distributions
Semi-annual & Annual	Daily declaring funds income distributions

Monthly: The dates below apply to all funds in this section.
Funds	Record dates	Ex-Div./ Reinvestment dates	Payment dates
DWS Total Return Bond Fund DWS ESG Global Bond Fund DWS Floating Rate Fund DWS GNMA Fund DWS High Income Fund DWS Short Duration High Income Fund	January 23	January 24	January 25
	February 20	February 21	February 22
	March 21	March 22	March 25
	April 22	April 23	April 24
	May 22	May 23	May 24
	June 20	June 21	June 24
	July 23	July 24	July 25
	August 22	August 23	August 26
	September 20	September 23	September 24
	October 23	October 24	October 25
	November 20	November 21	November 22
	December 6	December 9	December 10
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Quarterly
Funds	Record dates	Ex-Div./ Reinvestment dates	Payment dates
DWS Emerging Markets Fixed Income Fund	March 21	March 22	March 25
	June 20	June 21	June 24
	September 20	September 23	September 24
	December 6	December 9	December 10
DWS Core Equity Fund DWS Global Income Builder Fund DWS U.S. Multi-Factor Fund	March 21	March 22	March 25
	June 20	June 21	June 24
	September 20	September 23	September 24
	December 13	December 16	December 17
DWS Enhanced Commodity Strategy Fund	March 21	March 22	March 25
	June 20	June 21	June 24
	September 20***	September 23	September 24
	December 13	December 16	December 17
DWS Equity 500 Index Fund DWS S&P 500 Index Fund	March 21	March 22	March 25
	June 20**	June 21	June 24
	September 20	September 23	September 24
	December 13	December 16	December 17
DWS CROCI Equity Dividend Fund	March 21*	March 22	March 25
	June 20	June 21	June 24
	September 20	September 23	September 24
	December 13	December 16	December 17
DWS RREEF Global Infrastructure Fund DWS RREEF Real Estate Securities Fund	March 21	March 22	March 25
	June 20**	June 21	June 24
	September 20	September 23	September 24
	December 17	December 18	December 19
DWS World Dividend Fund	March 21	March 22	March 25
	June 20	June 21	June 24
	September 20	September 23	September 24
	December 20	December 23	December 24
DWS Multi-Asset Conservative Allocation Fund	March 27	March 28	March 29
	June 26	June 27	June 28
	September 26	September 27	September 30
	December 27	December 30	December 31
DWS RREEF MLP & Energy Infrastructure Fund	February 20	February 21	February 22
	May 22	May 23	May 24
	August 22	August 23	August 26
	November 20	November 21	November 22
* Includes undistributed income and gains (if any) from 11/30/18 and 12/31/18 year ends. Includes undistributed income and gains (if any) from 12/31/2018, 1/31/19 and 3/31/19 year ends. * Includes undistributed income and gains (if any) from 6/30/2019 year end.
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Semi-annual and Annual
Funds	Record dates	Ex-Div./ Reinvestment dates	Payment dates
DWS RREEF Real Assets Fund	June 20**	June 21	June 24
DWS RREEF Real Assets Fund	December 17	December 18	December 19
DWS Communications Fund	March 21*	March 22	March 25
DWS Communications Fund	December 17	December 18	December 19
DWS CROCI U.S. Fund	December 13	December 16	December 17
DWS ESG Core Equity Fund	March 21*	March 22	March 25
DWS ESG Core Equity Fund	December 17	December 18	December 19
DWS Capital Growth Fund DWS Health and Wellness Fund DWS Large Cap Focus Growth Fund DWS Small Cap Growth Fund DWS Science and Technology Fund	December 11	December 12	December 13
DWS EAFE Equity Index Fund	March 21*	March 22	March 25
DWS EAFE Equity Index Fund	December 20	December 23	December 24
DWS Emerging Markets Equity Fund DWS ESG International Core Equity Fund DWS Global Macro Fund DWS International Growth Fund DWS Global Small Cap Fund DWS CROCI International Fund DWS Latin America Equity Fund	December 20	December 23	December 24
DWS Multi-Asset Growth Allocation Fund DWS Multi-Asset Moderate Allocation Fund	December 27	December 30	December 31
DWS Small Cap Core Fund	December 17	December 18	December 19
DWS RREEF Global Real Estate Securities Fund	June 20**	June 21	June 24
DWS RREEF Global Real Estate Securities Fund	December 17	December 18	December 19
** Includes undistributed income and gains (if any) from 12/31/2018, 1/31/19, and 3/31/19 year ends.
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Daily declaring funds gain distributions
Funds	Record dates	Ex-Div./ Reinvestment dates	Payment dates
DWS Global High Income Fund	December 6	December 9	December 10
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Daily declaring funds income distributions

Funds	Payment/Reinvest date	Comment
DWS Short Duration Fund	September 24 October 25 November 22 December 31 (tentative)	Daily dividends for each month are paid on the fifth business day prior to month end. For the final December payment, the Board is expected to change the payment date to the last business day of the year to align the dividends paid with those reported on 2019 shareholder tax forms.
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Funds	Payment/Reinvest date	Comment
DWS Global High Income Fund	January 25 February 22 March 25 April 24 May 24 June 24 July 25 August 26 September 24 October 25 November 22 December 31 (tentative)	Daily dividends for each month are paid on the fifth business day prior to month end. For the final December payment, the Board is expected to change the payment date to the last business day of the year to align the dividends paid with those reported on 2019 shareholder tax forms.
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2019 Excise distribution
Funds	Record dates	Ex-Div./ Reinvestment dates	Payment dates
DWS California Tax-Free Income Fund DWS Intermediate Tax-Free Fund DWS Managed Municipal Bond Fund DWS Massachusetts Tax-Free Fund DWS New York Tax-Free Income Fund DWS Short Term Municipal Bond Fund DWS Strategic High Yield Tax-Free Fund	December 3	December 4	December 5
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Daily declaring funds income distributions
Funds	Payment/Reinvest date	Comment
DWS California Tax-Free Income Fund DWS Intermediate Tax-Free Fund DWS Managed Municipal Bond Fund DWS Massachusetts Tax-Free Fund DWS New York Tax-Free Income Fund DWS Short Term Municipal Bond Fund DWS Strategic High Yield Tax-Free Fund	January 25 February 22 March 25 April 24 May 24 June 24 July 25 August 26 September 24 October 25 November 22 December 24	Daily dividends for each month are paid on the fifth business day prior to month end.
* Includes undistributed income and gains (if any) from 11/30/18 and 12/31/18 year ends. Includes undistributed income and gains (if any) from 12/31/2018, 1/31/19, and 3/31/19 year ends. * Includes undistributed income and gains (if any) from 6/30/2019 year end.
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THIS DIVIDEND SCHEDULE IS SUBJECT TO CHANGE AT THE DISCRETION OF THE FUNDS' BOARDS AND DWS ASSET MANAGEMENT. THE SCHEDULE DOES NOT INCLUDE DIVIDENDS THAT ARE DECLARED DAILY AND PAID MONTHLY.

Risk Considerations
Investments in mutual funds involve risk. Stocks may decline in value. Bond investments are subject to interest-rate, credit, liquidity and market risks to varying degrees. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks. There are additional risks associated with investing in commodities, high-yield bonds, aggressive growth stocks, non-diversified/concentrated funds and small- and mid-cap stocks which are more fully explained in the prospectuses. Please read the prospectus for more information.

Read the Prospectus
To obtain a summary prospectus, if available, or prospectus, talk to your financial representative, contact us, or download the following, Mutual funds, Money market funds, Variable insurance portfolios. We advise you to carefully consider the product's objectives, risks, charges and expenses before investing. The summary prospectus and prospectus contains this and other important information about the investment product. Please read the summary prospectus and prospectus carefully before you invest.

NO BANK GUARANTEE | NOT FDIC INSURED | MAY LOSE VALUE
This site is intended for U.S. investors only.

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries, such as DWS Distributors, Inc., which offers investment products, or DWS Investment Management Americas, Inc. and RREEF America L.L.C., which offer advisory services.

Glossary Word X

* Includes undistributed income and gains (if any) from 11/30/18 and 12/31/18 year ends.
Includes undistributed income and gains (if any) from 12/31/2018, 1/31/19 and 3/31/19 year ends.
* Includes undistributed income and gains (if any) from 6/30/2019 year end.

** Includes undistributed income and gains (if any) from 12/31/2018, 1/31/19, and 3/31/19 year ends.

* Includes undistributed income and gains (if any) from 11/30/18 and 12/31/18 year ends.
Includes undistributed income and gains (if any) from 12/31/2018, 1/31/19, and 3/31/19 year ends.
* Includes undistributed income and gains (if any) from 6/30/2019 year end.

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Glossary Word X

* Includes undistributed income and gains (if any) from 11/30/18 and 12/31/18 year ends. ** Includes undistributed income and gains (if any) from 12/31/2018, 1/31/19 and 3/31/19 year ends. *** Includes undistributed income and gains (if any) from 6/30/2019 year end.

** Includes undistributed income and gains (if any) from 12/31/2018, 1/31/19, and 3/31/19 year ends.

* Includes undistributed income and gains (if any) from 11/30/18 and 12/31/18 year ends. ** Includes undistributed income and gains (if any) from 12/31/2018, 1/31/19, and 3/31/19 year ends. *** Includes undistributed income and gains (if any) from 6/30/2019 year end.

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* Includes undistributed income and gains (if any) from 11/30/18 and 12/31/18 year ends.
Includes undistributed income and gains (if any) from 12/31/2018, 1/31/19 and 3/31/19 year ends.
* Includes undistributed income and gains (if any) from 6/30/2019 year end.

* Includes undistributed income and gains (if any) from 11/30/18 and 12/31/18 year ends.
Includes undistributed income and gains (if any) from 12/31/2018, 1/31/19, and 3/31/19 year ends.
* Includes undistributed income and gains (if any) from 6/30/2019 year end.