With stocks rallying for 5 weeks in a row now, dividend yields are falling back to Earth. The average dividend yield of the Dow 30 has fallen over 25% since the rally began in early March. Combined with dividend cuts made earlier this year from companies like CNBC parent, General Electric and Alcoa , the average yield is now below 3.3%, far from the 4.5% we saw in early March.
Below is a table listing the yields of all 30 Dow components. AT&T is now the highest yielding stock on the Dow, followed by Dupont and Merck . With earnings season underway, it will be interesting to see whether more companies will announce changes to their dividends.