The windfall from President Donald Trump's tax-cut helped push dividend payments by companies to a new record, S&P Dow Jones Indices said Tuesday.
First quarter dividend payments for the S&P 500 hit a high of $12.79 per share, one cent above the previous record set in the fourth quarter of last year.
"There were no dividend cuts in the S&P 500 for Q1 2018, an event not seen in my history (which started in 2003)," said Howard Silverblatt, senior index analyst for S&P Dow Jones Indices.
"Given the record cash levels, repatriation and expected record earnings helped by lower tax rates, 2018 could post its seventh consecutive year of record payments," Silverblatt said in a statement. "There is potential for a return to double-digit gains, last seen during 2015."