S&P 500 Dividend Yield and 30-Year Treasury Bond Are U.S. equities a “buy”? The dividend yield of the S&P 500 Index is now higher than the yield from a 30-year Treasury bond. This is a rare phenomenon. But the equity risk does not disappear because a company pays a dividend. Image: Bloomberg

S&P 500 Dividend Payers / Non-Payers Around First Fed Rate Cut The chart shows that S&P 500 dividend payers have outperformed non-payers around the first Fed rate cut and 12 months later, because they are more attractive than bonds. Image: Ned Davis Research

S&P 500 Dividend Yield vs. 10-Year Treasury Yield since 2009 This chart shows the gap between S&P 500 dividend yield and the 10-year Treasury yield since 2009. Keep in mind that investing is not just a competition between stocks and bonds. But for the first time since 2017, the dividend yield on US stocks is equal…

S&P 500 Dividend Yield Since 1871 Since 1871, the long-term average dividend yield for the US stock market is 4.34%. The current yield of the S&P500 is 1.87% Is there an anomaly in the past 20 years? Image: multpl.com

S&P 500 Annual Return: Dividends, Earnings Growth and Multiple Expansion In 2019, the S&P 500 rose 31.5%. 26.9% came from multiple expansion, 2.6% from dividends, and 2.0% from earnings growth. Historically, S&P multiples contract or remain flat following years of big multiple expansion. Image: Richardson GMP

% of S&P 500 Stocks with Dividends Yields Greater than the 10-Year Treasury Yield Dividend yields on S&P 500 stocks seem competitive vs. U.S. Treasuries, but equity risk does not disappear because a company pays a dividend. Image: SunTrust Private Wealth Management

S&P 500 Stocks with Dividend Yields Above 30-Year Treasury Yield Yields on U.S. equities seem competitive vs. U.S. Treasuries, but equity risk does not disappear because a company pays a dividend. Image: Legg Mason

S&P 500 Capital Allocation – Dividends, Buybacks and Capital Expenditures 2018 corporate tax cut boosted dividends and buybacks, but not capital expenditures. Image: Oxford Economics

S&P 500 – Buybacks, Dividends and Capital Expenditures 2018 corporate tax cut boosted dividends and buybacks, but not capex. Image: Deutsche Bank Global Research

S&P 500 Forecast Dividend Yield Is Above The 10-Year Treasury Yield Dividends remained stable or increased, while the 10-year Treasury yield has declined. Image: Wells Fargo Investment Institute