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Dividend Amounts for Stocks in
the Dow Jones Industrial Average

Updated: Friday, Jan-17-2020
9:10pm 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 Jan-21-2020 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 MAR 2020
[03-20-20]
JUN 2020
[06-19-20]
3M1.51503.0300
American Express-    0.4300
Apple0.77001.5900
Boeing2.05504.1100
Caterpillar-    1.0300
Chevron1.26002.5200
Cisco Systems-    0.3800
Coca-Cola0.41000.8200
Dow0.70001.4000
ExxonMobil0.87001.7800
Goldman Sachs1.25002.5000
Home Depot1.46002.9200
IBM1.62003.2900
Intel0.33000.6600
Johnson & Johnson0.95001.9600
JPMorgan Chase-    0.9000
McDonalds1.25002.5000
Merck0.61001.2200
Microsoft0.51001.0200
NIKE B0.24500.4900
Pfizer0.38000.7600
Procter & Gamble0.74591.5205
Travelers0.82001.6900
United Technologies0.73501.4700
UnitedHealth Group1.08002.3400
Verizon Communications-    0.6150
Visa A0.30000.6000
Walgreens Boots Alliance0.45750.9150
Walmart0.54001.0800


 
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