With stocks rallying for over 3 months now, dividend yields continue to fall back to Earth. Today, two new components join the Dow, one with a dividend and one without. Travelers has a yield of 2.74% while Cisco , like many tech companies, does not pay a dividend. Their combined dividends, however, are still higher than the two companies they are replacing, Citigroup and GM , thereby increasing the overall average for the Dow. The average yield is now 3.11%, far from the 4.5% we saw in early March, but just below the 3.13% we saw one month ago.
Below is a table listing the yields of all 30 Dow components. Since April, AT&T continues to be the highest yielding stock on the Dow. Verizon has moved ahead of DuPont for second and third place.