If dividend increasing stocks were fish in a pond, the catch would be harder to come by. For the first six months of 2009, 65 companies in the S&P 500 Index either cut or suspended their dividend payment. This compares to 20 for the same period in 2008 and 4 in 2007. Increases feel nearly 50% to 86 increases versus 158 increases for the first six months of 2008.
- Consumer Staples now account for largest dividend cash payments at 17.0%; financials once over 30% and now represent 9.3% of the dividend cash payments.
- The top 26 issues account for 50.0% of the dividends with the first financial issue being Wells Fargo (WFC) at #41.
Data Source: Standard & Poor's (PDF)