For the month of April, dividend paying stocks in the S&P 500 index slightly underperformed the non-paying S&P 500 stocks. However, on a 12-month basis, the dividend payers have a wide performance edge over the non-payers. The 12-month return for the dividend payers is 16.87% versus the non-payer's return of 11.56%.
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Source: Standard & Poor's