Two and a half months away from the end of the year and the average dividend yield of the Dow 30 has continued to fall since the market lows back in March. At the end of 2008, the average yield on the Dow was 3.9%. By the market lows of early March, that number rose to ~4.5%. Now, with two new components and a 6+ month rally, that number is 2.8%.
According to data from Thomson Reuters, Verizon is now the highest yielding stock on the Dow, passing AT&T . Note that these rankings will change as companies announce new dividends (or cuts as we saw during the end of 2008 and early 2009) and see their prices fluctuate as well.
Below is a table listing the yields of all 30 Dow components. The average yield for the index based on Friday's close is 2.8%. Citigroup and GM are not members of the Dow but were at the start of the year and are included in the table for reference only. Their yields are not included in the averages at the bottom of the table.
Even if you are suspicious of the higher yielding telecoms, there may be some good value plays to consider here.