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Dividend Amounts for Stocks in
the Dow Jones Industrial Average

Updated: Friday, July-13-2018
8:55pm ET
Notes about the following table of dividend amounts.
  • Knowledge about dividends is important for index arbitrage because the fair value premium and the related buy and sell program levels are a function of the interest that would be earned on an amount equal to the spot index minus the amount of dividends earned. The time period for these interest and dividend earnings is from the current date to the expiration of the associated future. The dividends have to be adjusted by the index's divisor and, if the index is capitalization weighted, the dividends must also be weighted by the appropriate capitalization factor. The table below shows just the per share dividend amount.
  • Specifically, the estimated dividend amount for each stock below is our best estimate of the aggregate per share dividends that will be paid during the period beginning on July-16-2018 and ending on the expiration date of the future identified in the column heading.
  • Most companies pay dividends on a quarterly frequency; a few pay annually or semi-annually. The amount, timing, and growth of each dividend is forecasted from several years of dividend history, provided, of course, that the company has an established track record. Otherwise, the most recent (perceived) dividend policy is extended.
  • Internal values have a precision of at least twelve decimal places. Displayed values, however, are rounded to four decimal places.

 
Dividend Amounts (per share) for Dow Jones Industrial Average Stocks by Active Futures.
[Futures expiration date shown in brackets.]

Dow Jones Industrial Average Stocks SEP 2018
[09-21-18]
DEC 2018
[12-21-18]
3M1.36002.7200
American Express-    0.3900
Apple0.73001.4600
Boeing1.71003.4200
Caterpillar0.86001.7200
Chevron1.12002.2400
Cisco Systems-    0.3300
Coca-Cola0.39000.7800
Disney-    0.9100
DowDuPont0.38000.7600
ExxonMobil0.82001.6400
Goldman Sachs0.80001.6000
Home Depot1.03002.0600
IBM1.57003.1400
Intel0.30000.6000
Johnson & Johnson0.90001.8000
JPMorgan Chase-    0.8000
McDonalds1.01002.0900
Merck0.48000.9700
Microsoft0.42000.8800
NIKE B0.20000.4300
Pfizer0.34000.6800
Procter & Gamble0.71721.4344
Travelers0.77001.5400
United Technologies0.70001.4400
UnitedHealth Group0.90001.8000
Verizon Communications-    0.6050
Visa A0.21000.4200
Walgreens Boots Alliance0.44000.8800
Walmart0.52001.0400


 
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