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Dividend Amounts for Stocks in
the Dow Jones Industrial Average

Updated: Monday, June-01-2020
8:20pm 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 June-02-2020 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 JUN 2020
[06-19-20]
SEP 2020
[09-18-20]
3M-    1.4700
American Express-    0.4300
Apple-    0.8200
Caterpillar-    1.0500
Chevron-    1.2900
Cisco Systems-    0.3600
Coca-Cola0.41000.8200
Dow-    0.7000
ExxonMobil-    0.8700
Goldman Sachs-    1.3000
Home Depot1.50003.0000
IBM-    1.6300
Intel-    0.3300
Johnson & Johnson-    1.0100
JPMorgan Chase-    0.9000
McDonalds-    1.2500
Merck0.61001.2200
Microsoft-    0.5100
NIKE B-    0.2450
Pfizer-    0.3800
Procter & Gamble-    0.7907
Raytheon Technologies-    0.4750
Travelers0.85001.7000
UnitedHealth Group1.27002.5400
Verizon Communications-    0.6150
Visa A-    0.3000
Walgreens Boots Alliance-    0.4700
Walmart-    0.5400


 
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