Dow Jones Index Dividends and Dividend Yield: History and Analysis

By: ,

Dow Jones Index Dividends

The Dow Jones Index has served as an indicator of the country’s overall economic well-being for more than a century and also includes stocks that offer desirable dividend income distributions.

Wall Street Journal editor Charles Dow created his first index of 12 companies in 1886. The current index contains none of those original companies. General Electric is the only company from that original list that still operates as its own business entity and under the same name. However, Wallgreens Boots Alliance replaced General Electric as a DOW 30 component in June 2018.

Commonly referred to as the “Dow Jones Industrial Average” or simply the “Dow,” the index is generally viewed as one of the three indices — NASDAQ and the S&P 500 being the other two — that convey the general well-being and movement of the overall U.S. stock markets and the general indication of the overall economic health.

----ADVERTISEMENT----

The current Dow Jones Index stocks represent companies with market capitalization ranging from $35 billion on the low end to nearly $1.2 trillion at the top, with a simple average capitalization of $264 billion per company. The current share prices vary as well from $38.48 to $347.90 at the end of trading on December 10, 2019, with an average share price of $137.03

In addition to a long tradition of steady overall asset appreciation, every one of the 30 Dow companies is also rewarding shareholders with dividend income distributions. Excluding Dow, Inc. (NYSE:DOW) as a new business entity formed by divestiture earlier this year, the other 29 companies have been paying dividends between four years (Walgreens Boots Alliance, Inc., NASDAQ:WBA) and 192 years (JPMorgan Chase & Company, NYSE:JPM), with an average of nearly 70 years. Furthermore, the current streaks of consecutive annual dividend hikes range from just one year (Nike, Inc., NYSE:NKE) to 65 years (Procter & Gamble Company, NYSE:PG). The average streak of consecutive annual dividend boosts is 18 years.

The current forward dividend yields range from 0.66% (Visa, Inc., NYSE:V) to 5.7% (Dow, Inc., NYSE:DOW). The simple, unweighted average yield of all 30 Dow components is 2.65%. Sorted in ascending order by the current forward dividend yield, the list below offers additional metrics to better gauge the overall financial performance of all the Dow 30 components.

 

Dow Jones Index Dividends: #30

Visa, Inc. (NYSE:V)

Dividend Yield: 0.66%

----ADVERTISEMENT----

Market Cap: $312.15 billion

Sector: Industrials

First Dividend: 2008

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 20%

Consecutive Annual Hikes: 10 years

December 10, 2019, Closing Price: $182.26

Total Return (1Y, 3Y, 5Y): 33%, 134%, 184%

 

Dow Jones Index Dividends: #29

Nike, Inc. (NYSE:NKE)

Dividend Yield: 1.01%

Market Cap: $120.88 billion

Sector: Consumer Products

First Dividend: 1984

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 34%

Consecutive Annual Hikes: 1 year

December 10, 2019, Closing Price: $97.01

Total Return (1Y, 3Y, 5Y): 35%, 92%, 106%

 

Dow Jones Index Dividends: #28

Apple, Inc. (NASDAQ:AAPL)

Dividend Yield: 1.15%

Market Cap: $1,192.93 billion

Sector: IT & Communications

First Dividend: 1990

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 26%

Consecutive Annual Hikes: 6 years

December 10, 2019, Closing Price: $268.48

Total Return (1Y, 3Y, 5Y): 60%, 143%, 151%

 

Dow Jones Index Dividends: #27

Walt Disney Company  (NYSE:DIS)

Dividend Yield: 1.20%

Market Cap: $263.33 billion

Sector: Services

First Dividend: 1957

Dividend Payout Schedule: Semi-Annually

Dividend Payout Ratio: 27%

Consecutive Annual Hikes: 2 years

December 10, 2019, Closing Price: $146.1

Total Return (1Y, 3Y, 5Y): 32%, 44%, 68%

 

Dow Jones Index Dividends: #26

Microsoft Corporation (NASDAQ:MSFT)

Dividend Yield: 1.35%

MarkeCap: $1,152.94 billion

Sector: IT & Communications

First Dividend: 2003

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 36%

Consecutive Annual Hikes: 13 years

December 10, 2019, Closing Price: $151.13

Total Return (1Y, 3Y, 5Y): 43%, 153%, 240%

 

Dow Jones Index Dividends: #25

American Express Company  (NYSE:AXP)

Dividend Yield: 1.42%

Market Cap: $98.93 billion

Sector: Financials

First Dividend: 1870

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 19%

Consecutive Annual Hikes: 7 years

December 10, 2019, Closing Price: $120.9

Total Return (1Y, 3Y, 5Y): 16%, 68%, 38%

 

Dow Jones Index Dividends: #24

UnitedHealth Group, Inc. (NYSE:UNH)

Dividend Yield: 1.55%

Market Cap: $264.82 billion

Sector: Financials

First Dividend: 1990

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 30%

Consecutive Annual Hikes: 9 years

December 10, 2019, Closing Price: $279.52

Total Return (1Y, 3Y, 5Y): 6%, 81%, 197%

 

Dow Jones Index Dividends: #23

Walmart, Inc. (NYSE:WMT)

Dividend Yield: 1.78%

Market Cap: $338.02 billion

Sector: Services

First Dividend: 1973

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 42%

Consecutive Annual Hikes: 5 years

December 10, 2019, Closing Price: $119.14

Total Return (1Y, 3Y, 5Y): 29%, 79%, 56%

 

Dow Jones Index Dividends: #22

United Technologies Corporation (NYSE:UTX)

Dividend Yield: 2.02%

Market Cap: $125.49 billion

Sector: Industrials

First Dividend: 1936

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 50%

Consecutive Annual Hikes: 19 years

December 10, 2019, Closing Price: $145.37

Total Return (1Y, 3Y, 5Y): 24%, 40%, 40%

 

Dow Jones Index Dividends: #21

Intel Corporation (NASDAQ:INTC)

Dividend Yield: 2.23%

Market Cap: $246.17 billion

Sector: IT & Communications

First Dividend: 1992

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 30%

Consecutive Annual Hikes: 4 years

December 10, 2019, Closing Price: $56.59

Total Return (1Y, 3Y, 5Y): 23%, 68%, 71%

 

Dow Jones Index Dividends: #20

Goldman Sachs Group, Inc. (NYSE:GS)

Dividend Yield: 2.25%

Market Cap: $78.56 billion

Sector: Financials

First Dividend: 1999

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 18%

Consecutive Annual Hikes: 7 years

December 10, 2019, Closing Price: $221.88

Total Return (1Y, 3Y, 5Y): 26%, -4%, 24%

Dow Jones Index Dividends: #19

Boeing Company  (NYSE:BA)

Dividend Yield: 2.36%

Market Cap: $195.79 billion

Sector: Industrials

First Dividend: 1942

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 127%

Consecutive Annual Hikes: 7 years

December 10, 2019, Closing Price: $347.9

Total Return (1Y, 3Y, 5Y): 9%, 136%, 202%

 

Dow Jones Index Dividends: #18

Procter & Gamble Company  (NYSE:PG)

Dividend Yield: 2.40%

Market Cap: $309.91 billion

Sector: Consumer Products

First Dividend: 1891

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 188%

Consecutive Annual Hikes: 65 years

December 10, 2019, Closing Price: $124.27

Total Return (1Y, 3Y, 5Y): 37%, 57%, 53%

 

Dow Jones Index Dividends: #17

Travelers Companies, Inc. (NYSE:TRV)

Dividend Yield: 2.42%

Market Cap: $34.98 billion

Sector: Financials

First Dividend: 1990

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 36%

Consecutive Annual Hikes: 13 years

December 10, 2019, Closing Price: $135.54

Total Return (1Y, 3Y, 5Y): 13%, 21%, 44%

 

Dow Jones Index Dividends: #16

Home Depot, Inc. (NYSE:HD)

Dividend Yield: 2.52%

Market Cap: $235.51 billion

Sector: Services

First Dividend: 1987

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 54%

Consecutive Annual Hikes: 9 years

December 10, 2019, Closing Price: $215.9

Total Return (1Y, 3Y, 5Y): 29%, 72%, 137%

 

Dow Jones Index Dividends: #15

McDonald’s Corporation (NYSE:MCD)

Dividend Yield: 2.56%

Market Cap: $146.82 billion

Sector: Services

First Dividend: 1976

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 62%

Consecutive Annual Hikes: 42 years

December 10, 2019, Closing Price: $194.95

Total Return (1Y, 3Y, 5Y): 8%, 71%, 139%

 

Dow Jones Index Dividends: #14

JPMorgan Chase & Company  (NYSE:JPM)

Dividend Yield: 2.68%

Market Cap: $421.86 billion

Sector: Financials

First Dividend: 1827

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 33%

Consecutive Annual Hikes: 8 years

December 10, 2019, Closing Price: $134.5

Total Return (1Y, 3Y, 5Y): 37%, 68%, 142%

 

Dow Jones Index Dividends: #13

Johnson & Johnson (NYSE:JNJ)

Dividend Yield: 2.71%

Market Cap: $368.44 billion

Sector: Health Care

First Dividend: 1944

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 71%

Consecutive Annual Hikes: 56 years

December 10, 2019, Closing Price: $139.99

Total Return (1Y, 3Y, 5Y): -1%, 34%, 48%

 

Dow Jones Index Dividends: #12

Merck & Company, Inc. (NYSE:MRK)

Dividend Yield: 2.74%

Market Cap: $226.85 billion

Sector: Health Care

First Dividend: 1935

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 61%

Consecutive Annual Hikes: 7 years

December 10, 2019, Closing Price: $89.1

Total Return (1Y, 3Y, 5Y): 18%, 56%, 65%

 

Dow Jones Index Dividends: #11

Caterpillar, Inc. (NYSE:CAT)

Dividend Yield: 2.88%

Market Cap: $78.96 billion

Sector: Industrials

First Dividend: 1914

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 36%

Consecutive Annual Hikes: 5 years

December 10, 2019, Closing Price: $142.87

Total Return (1Y, 3Y, 5Y): 19%, 60%, 71%

 

Dow Jones Index Dividends: #10

Coca-Cola Company  (NYSE:KO)

Dividend Yield: 2.98%

Market Cap: $230.38 billion

Sector: Consumer Products

First Dividend: 1893

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 88%

Consecutive Annual Hikes: 56 years

December 10, 2019, Closing Price: $53.77

Total Return (1Y, 3Y, 5Y): 12%, 39%, 47%

 

Dow Jones Index Dividends: #9

Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Dividend Yield: 3.13%

Market Cap: $52.13 billion

Sector: Services

First Dividend: 2015

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 42%

Consecutive Annual Hikes: 3 years

December 10, 2019, Closing Price: $58.41

Total Return (1Y, 3Y, 5Y): -26%, -27%, -3%

 

Dow Jones Index Dividends: #8

Cisco Systems, Inc. (NASDAQ:CSCO)

Dividend Yield: 3.17%

Market Cap: $187.08 billion

Sector: IT & Communications

First Dividend: 2011

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 55%

Consecutive Annual Hikes: 7 years

December 10, 2019, Closing Price: $44.1

Total Return (1Y, 3Y, 5Y): -2%, 60%, 86%

 

Dow Jones Index Dividends: #7

3M Company  (NYSE:MMM)

Dividend Yield: 3.44%

Market Cap: $96.41 billion

Sector: Health Care

First Dividend: 1916

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 68%

Consecutive Annual Hikes: 60 years

December 10, 2019, Closing Price: $167.66

Total Return (1Y, 3Y, 5Y): -13%, 3%, 21%

 

Dow Jones Index Dividends: #6

Pfizer, Inc. (NYSE:PFE)

Dividend Yield: 3.74%

Market Cap: $212.95 billion

Sector: Health Care

First Dividend: 1901

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 50%

Consecutive Annual Hikes: 8 years

December 10, 2019, Closing Price: $38.48

Total Return (1Y, 3Y, 5Y): -10%, 34%, 41%

 

Dow Jones Index Dividends: #5

Verizon Communications, Inc. (NYSE:VZ)

Dividend Yield: 4.02%

Market Cap: $253.23 billion

Sector: IT & Communications

First Dividend: 1984

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 62%

Consecutive Annual Hikes: 14 years

December 10, 2019, Closing Price: $61.23

Total Return (1Y, 3Y, 5Y): 10%, 34%, 59%

 

Dow Jones Index Dividends: #4

Chevron Corporation (NYSE:CVX)

Dividend Yield: 4.04%

Market Cap: $222.91 billion

Sector: Energy

First Dividend: 1912

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 68%

Consecutive Annual Hikes: 19 years

December 10, 2019, Closing Price: $117.89

Total Return (1Y, 3Y, 5Y): 7%, 14%, 34%

 

Dow Jones Index Dividends: #3

International Business Machines Corporation (NYSE:IBM)

Dividend Yield: 4.84%

Market Cap: $118.60 billion

Sector: IT & Communications

First Dividend: 1916

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 75%

Consecutive Annual Hikes: 19 years

December 10, 2019, Closing Price: $133.91

Total Return (1Y, 3Y, 5Y): 16%, -8%, 2%

 

Dow Jones Index Dividends: #2

Exxon Mobil Corporation (NYSE:XOM)

Dividend Yield: 5.04%

Market Cap: $292.20 billion

Sector: Energy

First Dividend: 1882

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 100%

Consecutive Annual Hikes: 36 years

December 10, 2019, Closing Price: $69.06

Total Return (1Y, 3Y, 5Y): -5%, -11%, -5%

 

Dow Jones Index Dividends: #1

Dow, Inc. (NYSE:DOW)

Dividend Yield: 5.27%

Market Cap: $39.40 billion

Sector: Materials

First Dividend: 2019

Dividend Payout Schedule: Quarterly

Dividend Payout Ratio: 79%

Consecutive Annual Hikes: 0 years

December 10, 2019, Closing Price: $53.13

Total Return (1Y, 3Y, 5Y): 6.4%*, N/A, N/A

*Eight months only (New corporate entity formed by divestiture from DowDuPont in April 2019)

 


Dividend increases and dividend decreases, new dividend announcements, dividend suspensions and other dividend changes occur daily. To make sure you don’t miss any important announcements, sign up for our E-mail Alerts. Let us do the hard work of gathering the data and sending the relevant information directly to your inbox.

In addition to E-mail Alerts, you will have access to our powerful dividend research tools. Take a quick video tour of the tools suite.


Ned-Piplovic

 

Ned Piplovic is the assistant editor of website content at Eagle Financial Publications. He graduated from Columbia University with a Bachelor’s degree in Economics and Philosophy. Prior to joining Eagle, Ned spent 15 years in corporate operations and financial management. Ned writes for www.DividendInvestor.com and www.StockInvestor.com.


 

STOCK OF THE WEEK
Use it to collect annual stock market gains of 63%... in about 5 minutes a week!
X
X
X

Search Dividend Investor