Following is updated performance for the dividend paying stocks in the S&P 500 Index versus the non-dividend paying stocks. The payers are lagging the non-payers for the first seven months of the year as well as the 12-months ending July 31, 2007. Some of the larger capitalization dividend paying stocks have been underperformers for the last 12-months ending July 31, 2007: examples include Johnson & Johnson (JNJ), Citigroup (C) and Wal-Mart (WMT). Some non-dividend payers exhibiting strong performance are Google (GOOG) and Apple (AAPL)
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