S&P Dow Jones Indices Reports U.S. Common Indicated Dividend Payments Increase of $9.5 Billion in Q3 2024 As Dividend Growth Slows
S&P Dow Jones Indices reports that U.S. common indicated dividend payments increased by $9.5 billion in Q3 2024, although dividend growth has slowed. Key findings include:
- Q3 2024 dividend increases were $14.1 billion, down 31.1% from Q2 2024 and 21.9% from Q3 2023.
- Q3 2024 dividend decreases were $4.6 billion, up 3.9% from Q2 2024 but down 50.5% from Q3 2023.
- For the 12 months ending September 2024, the net indicated dividend increase was $55.3 billion, compared to $37.5 billion for the prior year.
- S&P 500 Q3 2024 dividend payments set a record at $18.68 per share, up 8.3% year-over-year.
Despite economic uncertainty, dividend growth is expected to continue selectively, with S&P 500 large caps projected to increase dividend payments by 6% in 2024.
S&P Dow Jones Indices riporta che i pagamenti di dividendi indicati negli Stati Uniti sono aumentati di 9,5 miliardi di dollari nel Q3 2024, sebbene la crescita dei dividendi abbia rallentato. Le principali conclusioni includono:
- Gli aumenti dei dividendi nel Q3 2024 sono stati di 14,1 miliardi di dollari, in calo del 31,1% rispetto al Q2 2024 e del 21,9% rispetto al Q3 2023.
- Le diminuzioni dei dividendi nel Q3 2024 sono state di 4,6 miliardi di dollari, in aumento del 3,9% rispetto al Q2 2024 ma in calo del 50,5% rispetto al Q3 2023.
- Per i 12 mesi conclusi a settembre 2024, l'aumento netto dei dividendi indicati è stato di 55,3 miliardi di dollari, rispetto ai 37,5 miliardi di dollari dell'anno precedente.
- I pagamenti di dividendi dell'S&P 500 nel Q3 2024 hanno stabilito un record di 18,68 dollari per azione, con un aumento dell'8,3% rispetto all'anno precedente.
Nonostante l'incertezza economica, si prevede che la crescita dei dividendi continui in modo selettivo, con i titoli a grande capitalizzazione dell'S&P 500 che dovrebbero aumentare i pagamenti dei dividendi del 6% nel 2024.
S&P Dow Jones Indices informa que los pagos de dividendos indicados en EE. UU. aumentaron en 9,5 mil millones de dólares en el Q3 2024, aunque el crecimiento de los dividendos se ha desacelerado. Los hallazgos clave incluyen:
- Los aumentos de dividendos en el Q3 2024 fueron de 14,1 mil millones de dólares, un 31,1% menos que en el Q2 2024 y un 21,9% menos que en el Q3 2023.
- Las disminuciones de dividendos en el Q3 2024 fueron de 4,6 mil millones de dólares, un 3,9% más que en el Q2 2024, pero un 50,5% menos que en el Q3 2023.
- Para los 12 meses finales de septiembre de 2024, el aumento neto de dividendos indicados fue de 55,3 mil millones de dólares, en comparación con 37,5 mil millones de dólares del año anterior.
- Los pagos de dividendos del S&P 500 en el Q3 2024 establecieron un récord de 18,68 dólares por acción, un aumento del 8,3% interanual.
A pesar de la incertidumbre económica, se espera que el crecimiento de los dividendos continúe de manera selectiva, proyectándose que las grandes empresas del S&P 500 aumenten los pagos de dividendos en un 6% en 2024.
S&P 다우존스 인덱스는 미국의 예상 배당금 지급액이 2024년 3분기에 95억 달러 증가했다고 보고했지만, 배당금 성장률은 감소세를 보이고 있습니다. 주요 내용은 다음과 같습니다:
- 2024년 3분기의 배당금 증가는 141억 달러로, 2024년 2분기 대비 31.1% 감소하고 2023년 3분기 대비 21.9% 감소했습니다.
- 2024년 3분기의 배당금 감소는 46억 달러로, 2024년 2분기 대비 3.9% 증가했지만 2023년 3분기 대비 50.5% 감소했습니다.
- 2024년 9월로 종료되는 12개월 동안, 순 예상 배당금 증가는 553억 달러로, 전년 대비 375억 달러와 비교됩니다.
- S&P 500의 2024년 3분기 배당금 지급액은 주당 18.68달러로, 전년 대비 8.3% 증가하며 기록을 세웠습니다.
경제적 불확실성에도 불구하고, 배당금의 성장은 선택적으로 계속될 것으로 예상되며, S&P 500의 대형주들은 2024년에 배당금을 6% 증가시킬 것으로 보입니다.
S&P Dow Jones Indices rapporte que les paiements de dividendes indiqués aux États-Unis ont augmenté de 9,5 milliards de dollars au T3 2024, bien que la croissance des dividendes ait ralenti. Les principales conclusions comprennent :
- Les augmentations de dividendes au T3 2024 étaient de 14,1 milliards de dollars, en baisse de 31,1% par rapport au T2 2024 et de 21,9% par rapport au T3 2023.
- Les diminutions de dividendes au T3 2024 étaient de 4,6 milliards de dollars, en hausse de 3,9% par rapport au T2 2024 mais en baisse de 50,5% par rapport au T3 2023.
- Pour les 12 mois se terminant en septembre 2024, l'augmentation nette des dividendes indiqués était de 55,3 milliards de dollars, contre 37,5 milliards de dollars l'année précédente.
- Les paiements de dividendes de l'S&P 500 au T3 2024 ont établi un record à 18,68 dollars par action, en hausse de 8,3% d'une année sur l'autre.
Malgré l'incertitude économique, la croissance des dividendes devrait se poursuivre de manière sélective, les grandes capitalisations de l'S&P 500 projetées pour augmenter les paiements de dividendes de 6% en 2024.
S&P Dow Jones Indizes berichtet, dass die erwarteten Dividendenzahlungen in den USA im 3. Quartal 2024 um 9,5 Milliarden Dollar gestiegen sind, obwohl das Dividendenwachstum langsamer geworden ist. Wichtige Ergebnisse sind:
- Die Dividendensteigerungen im 3. Quartal 2024 betrugen 14,1 Milliarden Dollar, was einem Rückgang von 31,1% gegenüber dem 2. Quartal 2024 und 21,9% gegenüber dem 3. Quartal 2023 entspricht.
- Die Dividendenkürzungen im 3. Quartal 2024 beliefen sich auf 4,6 Milliarden Dollar, was einem Anstieg von 3,9% gegenüber dem 2. Quartal 2024, aber einem Rückgang von 50,5% gegenüber dem 3. Quartal 2023 entspricht.
- Für die 12 Monate bis September 2024 betrug die netto angezeigte Dividendensteigerung 55,3 Milliarden Dollar, im Vergleich zu 37,5 Milliarden Dollar im Vorjahr.
- Die Dividendenzahlungen des S&P 500 im 3. Quartal 2024 erreichten einen Rekord von 18,68 Dollar pro Aktie, was einer Steigerung von 8,3% im Jahresvergleich entspricht.
Trotz wirtschaftlicher Unsicherheit wird erwartet, dass das Dividendenwachstum selektiv weitergeht, wobei die großen Werte im S&P 500 prognostiziert werden, die die Dividendenzahlungen im Jahr 2024 um 6% erhöhen.
- Net indicated dividend rate change increased by $9.5 billion in Q3 2024
- 12-month net indicated dividend increase was $55.3 billion, up from $37.5 billion in the prior year
- S&P 500 Q3 2024 dividend payments set a record at $18.68 per share, up 8.3% year-over-year
- S&P 500 large caps expected to increase dividend payments by 6% in 2024
- 480 dividend increases reported in Q3 2024, up 7.1% year-over-year
- Q3 2024 dividend increases were down 31.1% from Q2 2024 and 21.9% from Q3 2023
- Dividend growth has slowed due to economic uncertainty
- Companies remain cautious about larger dividend commitments
- Intel suspended its dividend at a $2.1 billion rate in Q3 2024
Insights
The Q3 2024 dividend report from S&P Dow Jones Indices reveals a mixed picture for investors. While the net indicated dividend rate increased by
- Dividend increases were down
31.1% quarter-over-quarter and21.9% year-over-year. - The 12-month net dividend increase of
$55.3 billion shows long-term growth, up from$37.5 billion in the previous period. - S&P 500 dividends set a record, with Q3 payments up
8.3% year-over-year to$18.68 per share. - Economic uncertainty is causing companies to be cautious with larger dividend commitments.
For investors, this suggests a cautious but positive outlook. While dividend growth is slowing, it remains positive, indicating continued financial health among dividend-paying companies. The record S&P 500 dividends are particularly encouraging for large-cap investors. However, the economic uncertainty highlighted in the report warrants careful monitoring of future dividend policies and potential impacts from interest rate decisions and policy changes post-election.
The dividend landscape in Q3 2024 reflects broader market trends and economic factors. Notable observations include:
- A shift in dividend initiation patterns, with major tech companies like Meta and Alphabet starting dividends earlier in the year, contributing
$16.4 billion to the dividend pool. - Intel's
$2.1 billion dividend suspension in Q3, highlighting potential volatility even among established dividend payers. - Divergence in dividend policies across market caps, with
80.3% of S&P 500 companies paying dividends compared to58.0% of S&P SmallCap 600 companies. - Yield compression across all market caps, with large-cap yields decreasing to
1.29% from1.63% a year ago, primarily due to significant price increases.
These trends suggest a market where large, cash-rich companies are increasingly using dividends to attract investors, while smaller companies remain more conservative. The yield compression indicates strong price performance, particularly in large-caps, which may prompt investors to reassess the balance between dividend income and capital appreciation in their portfolios.
- Q3 2024 U.S. common dividend increases were
$14.1 billion 31.1% from$20.4 billion 21.9% from$18.0 billion - Q3 2024 U.S. common dividend decreases were
$4.6 billion 3.9% from$4.4 billion 50.5% from$9.2 billion - Q3 2024 net indicated dividend rate change increased
$9.5 billion - For the 12-months ending September 2024,
U.S. common dividend increases were$74.7 billion 16.9% from the 12-month September 2023 period's$63.9 billion 26.4% to$19.5 billion $26.4 billion - The net 12-month September 2024 indicated dividend increase was
$55.3 billion $37.5 billion
For the 12-months ending September 2024, the net dividend rate increased
"Dividends continued to grow in Q3, but at a slower rate. Q3 lacked the big-name initiation of the first half of the year when Brookings, Meta Platforms, Salesforce and Alphabet started to pay at a
Silverblatt continued: "Given the FOMC's interest rate reduction start and record earnings for Q2, and projected record earnings for both Q3 and Q4, companies may be more at ease to commit funds to larger dividend increases. For the rest of 2024, the continued uncertainty over the economy and the size of the expected interest rate cuts will likely damper the amount of dividend increases. However, dividend growth is expected to selectively continue, which would permit an increased payout. S&P 500 large caps performed better than most in the first three quarters of this year, with their record earnings, and an expected record dividend payment for 2024. In addition, S&P 500 large caps are expected to post a
Silverblatt concluded: "The notable conclusion is that many companies have the ability and cash-flow to increase their dividend payments, but remain concerned over the economy, government spending and taxing policy. Given the continued economic growth with lower interest rates and the relatively low unemployment rate, a clearer picture of potential policy should emerge after the election; at which time companies can better evaluate their future commitment."
S&P 500® Dividends
On a per share basis, S&P 500 Q3 2024 dividend payments set a record, as payments increased
Additional findings from S&P Dow Jones Indices' quarterly analysis of
Dividend Increases (defined as either an increase or initiation in dividend payments):
- 480 dividend increases were reported during Q3 2024 compared to 448 during Q3 2023, a
7.1% year-over-year increase. - Total dividend increases were
$14.1 billion $18.0 billion - For the 12-months ending in September 2024, 2,522 issues increased their payments, a decrease of
3.8% compared to the 2,621 issues for the 12-months ending in September 2023. - Total dividend increases for the 12-month period were
$74.7 billion $63.9 billion
Dividend Decreases (defined as either a decrease or suspension in dividend payments):
- 27 issues decreased dividends in Q3 2024, a
56.5% year-over-year decrease compared to 62 issues in Q3 2023. - Dividend decreases were
$4.6 billion $9.2 billion - For the 12-months ending in September 2024, 140 issues decreased their dividend payments, a
70.8% decrease compared to the 479 decreases within the prior 12-month period. - Dividend decreases were
$19.5 billion 26.4% decrease from prior 12-month period's$26.4 billion
Non-S&P 500 Domestic Common Issues (for issues yielding
- The percentage of non-S&P 500 domestic dividend-paying common issues increased to
20.4% from Q2 2024's20.3% and were flat compared to Q3 2023's20.4% . - The weighted indicated dividend yield for paying issues was
2.69% in Q3 2024, down from2.92% in Q2 2024 and down from3.14% in Q3 2023. The average indicated yield decreased to3.18% in Q3 2024 compared to Q2 2024's3.37% and was down from3.50% in Q3 2023.
Large-, Mid-, and Small-Cap Dividends:
- 404 issues or
80.3% within the S&P 500 currently pay a dividend, up from 403 in Q2 2024 and up from the 401 which paid in Q3 2023; 27 of the 30 constituents within the Dow Jones Industrial Average® pay a dividend with an average yield of2.03% for all issues and2.25% for the paying issues. 66.6% of S&P MidCap 400® issues pay a dividend, up from65.8% in Q2 2024 and up from65.3% in Q3 2023.58.0% of S&P SmallCap 600® issues pay a dividend, down from59.1% in Q2 2024 and up from57.1% in Q3 2023.- Yields mostly decreased for Q3 2024, as large-cap yields decreased (as their prices increased significantly more) to
1.29% (1.35% for Q2 2024 and1.63% for Q3 2023), mid-caps decreased to1.42% (1.52% for Q2 2024 and1.71% for Q3 2023), and small-caps decreased to1.60% (1.81% for Q2 2024 and1.95% for Q3 2023). - The yields across dividend-paying market-size classifications varied with large-caps declining to
1.55% for Q3 2024 (1.61% in Q2 2024 and2.11% in Q3 2023), mid-caps decreasing to2.11% (2.26% in Q2 2024 and2.54% in Q3 2023), and small-caps decreasing to2.70% (3.06% in Q2 2024 and3.34% in Q3 2023).
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SOURCE S&P Dow Jones Indices
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