For the month of June, the dividend paying stocks in the S&P 500 Index underperformed the non-payers by a fairly wide margin, .96% versus 2.12%, respectively. On a year to date and 12-month basis, the payers are underperforming the non-payers as well. On an average return basis though, both payers and non-payers are outperforming the S&P 500 index year to date and for 12-months.
Dividend Payers vs. Non-Payers Performance
Source: Standard and Poor's