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Dividend Amounts for Stocks in
the Dow Jones Industrial Average

Updated: Saturday, July-02-2022
3:45am 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-05-2022 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 2022
[09-16-22]
DEC 2022
[12-16-22]
3M1.49002.9800
American Express-    0.5200
Amgen1.94003.8800
Apple0.23000.4600
Caterpillar1.20002.4000
Chevron1.42002.8400
Cisco Systems-    0.3800
Coca-Cola0.44000.8800
Dow0.70001.4000
Goldman Sachs2.50005.0000
Home Depot1.90003.8000
Honeywell International0.98002.0200
IBM1.65003.3000
Intel0.36500.7300
Johnson & Johnson1.13002.2600
JPMorgan Chase-    1.0000
McDonalds1.38002.8600
Merck0.69001.4300
Microsoft0.62001.3000
NIKE B0.30500.6400
Procter & Gamble0.91331.8266
Travelers0.93001.8600
UnitedHealth Group1.65003.3000
Verizon Communications0.64001.2800
Visa A0.37500.8050
Walgreens Boots Alliance0.49000.9800
Walmart0.56001.1200


 
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