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Dividend Amounts for Stocks in
the Dow Jones Industrial Average

Updated: Wednesday, Dec-07-2022
10:25pm 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 Dec-08-2022 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 DEC 2022
[12-16-22]
MAR 2023
[03-17-23]
3M-    1.5000
American Express-    0.5200
Amgen-    2.1200
Apple-    0.2300
Caterpillar-    1.2000
Chevron-    1.5200
Cisco Systems-    0.3800
Coca-Cola-    0.4600
Dow-    0.7000
Goldman Sachs-    2.5000
Home Depot-    2.1000
Honeywell International-    1.0300
IBM-    1.6500
Intel-    0.3850
Johnson & Johnson-    1.1300
JPMorgan Chase-    1.0000
McDonalds-    1.5200
Merck0.73001.4600
Microsoft-    0.6800
NIKE B-    0.3400
Procter & Gamble-    0.9133
Travelers-    0.9300
UnitedHealth Group-    1.6500
Verizon Communications-    0.6525
Visa A-    0.4500
Walgreens Boots Alliance-    0.4800
Walmart-    0.5700


 
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