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Dividend Amounts for Stocks in
the Dow Jones Industrial Average

Updated: Sunday, Mar-19-2023
1:40pm 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 Mar-20-2023 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 2023
[06-16-23]
SEP 2023
[09-15-23]
3M1.50003.0000
American Express0.60001.2000
Amgen2.13004.2600
Apple0.24000.4800
Caterpillar1.20002.4900
Chevron1.51003.0200
Cisco Systems0.39000.7800
Coca-Cola0.46000.9200
Dow0.70001.4000
Goldman Sachs2.50005.5000
Home Depot2.09004.1800
Honeywell International1.03002.0600
IBM1.66003.3200
Intel0.12500.2500
Johnson & Johnson1.20002.4000
JPMorgan Chase1.00002.0000
McDonalds1.52003.0400
Merck0.73001.4600
Microsoft0.68001.3600
NIKE B0.34000.6800
Procter & Gamble0.95901.9180
Travelers0.98001.9600
UnitedHealth Group1.85003.7000
Verizon Communications0.65251.3050
Visa A0.45000.9000
Walgreens Boots Alliance0.48000.9625
Walmart0.57001.1400


 
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