S&P 500 Dividends Hit Record

Bank increases this week push payments to annual rate of $29.02 per index share.

Standard & Poor’s 500 Index companies have never paid more dividends following increases this week by banks including JPMorgan Chase & Co., according to Howard Silverblatt, S&P’s senior index analyst.

Announced payouts imply an annual dividend rate of $29.02 per index share, Silverblatt said in a note today. The prior record was $28.96 in June 2008 before the figure slid 26 percent to $21.44 in August 2009. It has since risen 35 percent. S&P 500 companies are paying out 30 percent of profits, less than the average of 52 percent, S&P data show.

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