S&P500 Dividend Yields
Here is a list of the January S&P500 dividend yields. I have extracted values from Professor Robert Shiller’s database.
Professor Shiller's web site
Professor Shiller's Online Data
Year, S&P500 Price, Dividend Amount and Dividend Yield
1871 4.44 0.2600 5.86
1872 4.86 0.2633 5.42
1873 5.11 0.3025 5.92
1874 4.66 0.3300 7.08
1875 4.54 0.3275 7.21
1876 4.46 0.3000 6.73
1877 3.55 0.2908 8.19
1878 3.25 0.1892 5.82
1879 3.58 0.1817 5.08
1880 5.11 0.2050 4.01
1881 6.19 0.2650 4.28
1882 5.92 0.3200 5.41
1883 5.81 0.3208 5.52
1884 5.18 0.3283 6.34
1885 4.24 0.3042 7.17
1886 5.20 0.2383 4.58
1887 5.58 0.2225 3.99
1888 5.31 0.2483 4.68
1889 5.24 0.2292 4.37
1890 5.38 0.2200 4.09
1891 4.84 0.2200 4.55
1892 5.51 0.2217 4.02
1893 5.61 0.2408 4.29
1894 4.32 0.2467 5.71
1895 4.25 0.2083 4.90
1896 4.27 0.1892 4.43
1897 4.22 0.1800 4.27
1898 4.88 0.1817 3.72
1899 6.08 0.2008 3.30
1900 6.10 0.2175 3.57
1901 7.07 0.3017 4.27
1902 8.12 0.3208 3.95
1903 8.46 0.3317 3.92
1904 6.68 0.3467 5.19
1905 8.43 0.3117 3.70
1906 9.87 0.3358 3.40
1907 9.56 0.4033 4.22
1908 6.85 0.4367 6.38
1909 9.06 0.4033 4.45
1910 10.08 0.4425 4.39
1911 9.27 0.4700 5.07
1912 9.12 0.4708 5.16
1913 9.30 0.4800 5.16
1914 8.37 0.4750 5.68
1915 7.48 0.4208 5.63
1916 9.33 0.4408 4.72
1917 9.57 0.5708 5.96
1918 7.21 0.6800 9.43
1919 7.85 0.5667 7.22
1920 8.83 0.5283 5.98
Year, S&P500 Price, Dividend Amount and Dividend Yield (continued)
1921 7.11 0.5058 7.11
1922 7.30 0.4642 6.36
1923 8.90 0.5117 5.75
1924 8.83 0.5317 6.02
1925 10.58 0.5542 5.24
1926 12.65 0.6075 4.80
1927 13.40 0.6967 5.20
1928 17.53 0.7767 4.43
1929 24.86 0.8600 3.46
1930 21.71 0.9708 4.47
1931 15.98 0.9667 6.05
1932 8.30 0.7933 9.56
1933 7.09 0.4950 6.98
1934 10.54 0.4408 4.18
1935 9.26 0.4500 4.86
1936 13.76 0.4800 3.49
1937 17.59 0.7300 4.15
1938 11.31 0.7933 7.01
1939 12.50 0.5133 4.11
1940 12.30 0.6233 5.07
1941 10.55 0.6733 6.38
1942 8.93 0.7033 7.88
1943 10.09 0.5900 5.85
1944 11.85 0.6133 5.18
1945 13.49 0.6433 4.77
1946 18.02 0.6667 3.70
1947 15.21 0.7133 4.69
1948 14.83 0.8433 5.69
1949 15.36 0.9467 6.16
1950 16.88 1.1500 6.81
1951 21.21 1.4867 7.01
1952 24.19 1.4133 5.84
1953 26.18 1.4100 5.39
1954 25.46 1.4567 5.72
1955 35.60 1.5467 4.34
1956 44.15 1.6700 3.78
1957 45.43 1.7367 3.82
1958 41.12 1.7833 4.34
1959 55.62 1.7567 3.16
1960 58.03 1.8667 3.22
1961 59.72 1.9467 3.26
1962 69.07 2.0267 2.93
1963 65.06 2.1367 3.28
1964 76.45 2.2967 3.00
1965 86.12 2.5167 2.92
1966 93.32 2.7400 2.94
1967 84.45 2.8800 3.41
1968 95.04 2.9300 3.08
1969 102.00 3.0800 3.02
1970 90.31 3.1633 3.50
1971 93.49 3.1300 3.35
1972 103.30 3.0700 2.97
1973 118.40 3.1567 2.67
1974 96.11 3.4000 3.54
1975 72.56 3.6233 4.99
1976 96.86 3.6833 3.80
1977 103.80 4.0967 3.95
1978 90.25 4.7133 5.22
1979 99.71 5.1133 5.13
1980 110.90 5.7000 5.14
1981 133.00 6.2000 4.66
1982 117.30 6.6600 5.68
1983 144.30 6.8833 4.77
1984 166.40 7.1200 4.28
1985 171.60 7.5733 4.41
1986 208.20 7.9400 3.81
1987 264.50 8.3000 3.14
1988 250.50 8.8567 3.54
1989 285.40 9.8133 3.44
1990 339.97 11.1400 3.28
1991 325.49 12.1067 3.72
1992 416.08 12.2400 2.94
1993 435.23 12.4133 2.85
1994 472.99 12.6233 2.67
1995 465.25 13.1800 2.83
1996 614.42 13.8933 2.26
1997 766.22 14.9533 1.95
1998 963.36 15.5500 1.61
1999 1248.77 16.2833 1.30
2000 1425.59 16.5733 1.16
2001 1335.63 16.1700 1.21
2002 1140.21 15.7367 1.38
2003 895.84 16.1200 1.80
2004 1132.52 17.6000 1.55
2005 1181.41 19.7 1.67
2006 1278.73 22.41 1.75
2007 1424.16 25.08 1.76
2008 1378.76 27.92 2.03
2009 865.58 28.01 3.24
Comment
The last time that the dividend yield exceeded 5% was in 1982. The last time that the dividend yield exceeded 4% was in 1985. The last time that the dividend yield exceeded 3% was in 1991 until 2009.
Have fun.
John Walter Russell
November 5, 2005
Font size change November 8, 2006
Updated November 8, 2008
Updated September 6, 2009
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