Unexpectedly Intriguing!
05 June 2024
The New York Stock Exchange with a banner saying 'DIVIDENDS!' Image generated by Microsoft Copilot Designer.

May 2024 was a solid month for the dividend paying firms of the U.S. stock market.

The best evidence of that assessment can be found in the number of favorable dividend changes recorded by Standard & Poor for the month. S&P counted 245 positive changes during May 2024, which is up significantly over the previous month's total and is also up year over year, though by a small amount.

Meanwhile, the number of unfavorable changes came in at 11, which is lower than it did in May 2023 but slightly higher than April 2024's total. That small cloud in an otherwise silver lining however is well within the typical level of month-to-month noise we see for unfavorable dividend changes.

The net month-over-month change is +234 and the net year-over-year change is +6. These net favorable outcomes are what makes May 2024 a solid month for dividend paying firms. The following table tallies up the underlying numbers for these measures.

Dividend Changes in May 2024
   May-2024  Apr-2024    MoM  May-2023    YoY
Total Declarations 4,419 5,367 -948 4,093 326
Favorable 245 181 64 230 15
- Increases 155 124 31 140 15
- Special/Extra 90 57 33 87 3
- Resumed 0 0 0 ◀▶ 3 -3
Unfavorable 11 6 5 20 -9
- Decreases 11 6 5 20 -9
- Omitted/Passed 0 0 0 ◀▶ 0 0 ◀▶

The following chart visualizes the monthly counts of dividend increases and decreases from January 2004 through May 2024.

Number of Public U.S. Firms Increasing or Decreasing their Dividends Each Month, January 2004 - May 2024

In next month's edition, we'll dive into the numbers for the second quarter of 2024.


Standard and Poor. S&P Market Attributes Web File. [Excel Spreadsheet]. 31 May 2024. Accessed 3 June 2024.

Image Credit: Microsoft Copilot Designer. Prompt: "The New York Stock Exchange with a banner saying 'DIVIDENDS!'"


About Political Calculations

Welcome to the blogosphere's toolchest! Here, unlike other blogs dedicated to analyzing current events, we create easy-to-use, simple tools to do the math related to them so you can get in on the action too! If you would like to learn more about these tools, or if you would like to contribute ideas to develop for this blog, please e-mail us at:

ironman at politicalcalculations

Thanks in advance!

Recent Posts

Indices, Futures, and Bonds

Closing values for previous trading day.

Most Popular Posts
Quick Index

Site Data

This site is primarily powered by:

This page is powered by Blogger. Isn't yours?

CSS Validation

Valid CSS!

RSS Site Feed

AddThis Feed Button


The tools on this site are built using JavaScript. If you would like to learn more, one of the best free resources on the web is available at W3Schools.com.

Other Cool Resources

Blog Roll

Market Links

Useful Election Data
Charities We Support
Shopping Guides
Recommended Reading
Recently Shopped

Seeking Alpha Certified