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Dividend Amounts for Stocks in
the Dow Jones Industrial Average

Updated: Wednesday, Oct-28-2020
8:30pm 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 Oct-29-2020 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 DEC 2020
[12-18-20]
MAR 2021
[03-19-21]
3M1.47002.9800
American Express-    0.4300
Amgen1.60003.3600
Apple0.20500.4100
Caterpillar-    1.0300
Chevron1.29002.6400
Cisco Systems-    0.3600
Coca-Cola0.41000.8350
Dow0.70001.4000
Goldman Sachs1.25002.5000
Home Depot1.50003.1000
Honeywell International0.93001.8600
IBM1.63003.2600
Intel0.33000.6700
Johnson & Johnson1.01002.0200
JPMorgan Chase-    0.9000
McDonalds1.29002.5800
Merck0.67001.3400
Microsoft0.56001.1200
NIKE B0.27000.5400
Procter & Gamble-    0.7907
Travelers0.85001.7000
UnitedHealth Group1.25002.5000
Verizon Communications-    0.6275
Visa A0.35000.7000
Walgreens Boots Alliance0.46750.9350
Walmart0.54001.0900


 
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