The Scoreboard represents the securites within the S&P 500 that distribute dividends.

Source: Standard & Poor's 500 MarketAttributes - June 30, 2010
Published by Standard & Poor's Index Services Group


S&P Decreases Expected 2008 Dividend Payment for the S&P 500

$14.5 Billion in Dividend Cuts by the Financials Limits Growth

NEW YORK, July 24, 2008 -- Standard & Poor's, the world's leading index provider, announced today that it is decreasing the expected 2008 dividend payment for the S&P 500 from $30.30 to $28.85. The lowered estimate still represents a 4.0% increase in S&P 500 dividend payments from the $27.73 registered in 2007, and translates into a $251.0 billion aggregate payment for the S&P 500 companies for 2008.

Standard & Poor's is monitoring the 12-month indicated dividend rate, currently set at $28.85.

"Already this year, 20 Financials have decreased their dividend payments compared to just 12 over the past five years," says Howard Silverblatt, Senior Index Analyst at Standard & Poor's. "As a result, the 4% expected increase in S&P 500 dividend payments for 2008 will be the lowest growth rate since 2002 when payments were up 2.1%."

Standard & Poor's data also shows that despite the cuts, Financials continue to contribute the lion's share of dividends. "While the Financials sector makes up 15.7% of the market, it contributes 25.5% of the dividends," notes Silverblatt.

Silverblatt also points out that the tendency for index issues to pay and increase cash dividends is much greater than that of the general market with 77% of the S&P 500 constituents pay cash dividends versus 39% for non-S&P 500 companies. For 2008, Silverblatt estimates that over 60% of the S&P 500 will increase their dividend payout compared to 31% for the non-S&P 500 companies.

"The overall picture for dividends is cautiously positive," adds Silverblatt. "While we continue to have strong concerns over deterioration within the Financials sector, Standard & Poor's Index Services believes that the vast majority of S&P 500 companies will continue their long history of dividend increases for the remainder of the year."

For information on S&P 500 dividends, visit: www.marketattributes.standardandpoors.com.

STANDARD & POOR'S INDEX SERVICES

S&P 500 Sector Dividend Changes: for 1/1/2008 through 7/23/2008

SECTOR
ACTIONS
INCREASES
INITIATIONS
DECREASES
SUSPENSIONS
Consumer Discretionary
27
24
1
1
1
Consumer Staples
26
25
0
1
0
Energy
15
15
0
0
0
Financials
53
33
0
16
4
Health Care
7
7
0
0
0
Industrials
27
27
0
0
0
Information Technology
10
10
0
0
0
Materials
13
11
2
0
0
Telecommunications Services
4
3
0
0
1
Utilities
18
17
1
0
0
Total
200
172
4
18
6
Unique Issues
185
162
4
15
6

STANDARD & POOR'S INDEX SERVICES

S&P 500 Dividend Decreases: 1/1/08 through 7/23/2008

Month
Type
Ticker
Company
Current Div. Rate
Former Div. Rate
Sector
JAN
DECREASE
ABK
Ambac Financial Group
$0.28
$0.84
Financials
MAR
DECREASE
ABK
Ambac Financial Group
$0.04
$0.28
Financials
MAR
SUSPENSION
BSC
Bear Stearns Cos
$0.00
$1.28
Financials
APR
DECREASE
CIT
CIT Group
$0.40
$1.00
Financials
JAN
DECREASE
C
Citigroup Inc
$1.28
$2.16
Financials
MAY
DECREASE
DHI
D.R.Horton
$0.30
$0.60
Consumer
Discretionary
MAY
DECREASE
FNM
Federal Natl Mtge
$1.00
$1.40
Financials
JUN
DECREASE
FITB
Fifth Third Bancorp
$0.60
$1.76
Financials
JAN
DECREASE
FHN
First Horizon Natl
$0.80
$1.80
Financials
JUL
DECREASE
FHN
First Horizon Natl
$0.00
$0.80
Financials
JUL
SUSPENSION
GM
Genl Motors
$0.00
$1.00
Consumer
Discretionary
APR
DECREASE
HBAN
Huntington Bancshares
$0.53
$1.06
Financials
JUN
DECREASE
KEY
KeyCorp
$0.75
$1.50
Financials
JAN
DECREASE
MBI
MBIA Inc
$0.52
$1.36
Financials
FEB
SUSPENSION
MBI
MBIA Inc
$0.00
$0.52
Financials
JAN
DECREASE
NCC
Natl City Corp
$0.84
$1.64
Financials
APR
DECREASE
NCC
Natl City Corp
$0.04
$0.84
Financials
JUL
DECREASE
RF
Regions Financial
$0.40
$1.52
Financials
JAN
SUSPENSION
SOV
Sovereign Bancorp
$0.00
$0.32
Financials
FEB
SUSPENSION
S
Sprint Nextel Corp
$0.00
$0.10
Telecommunication Services
APR
DECREASE
WB
Wachovia Corp
$1.50
$2.56
Financials
JUL
DECREASE
WB
Wachovia Corp
$0.20
$1.50
Financials
APR
DECREASE
WM
Washington Mutual
$0.04
$0.60
Financials
MAR
DECREASE
MO
Altria Group*
$1.16
$3.00
Consumer Staples
*Decreased after stock distribution

STANDARD & POOR'S INDEX SERVICES

S & P 500 Cash Dividends

S&P 500 Quarter End
Cash Dividends Per Share
Change
Dividends 12 Months Billions
2008 Estimate
$28.85
4.04%
$251.00
12/31/2007
$27.73
11.45%
$246.58
12/31/2006
$24.88
11.98%
$224.76
12/31/2005
$22.22
14.30%
$201.84
12/31/2004
$19.44
11.82%
$181.02
12/31/2003
$17.39
8.14%
$160.65
12/31/2002
$16.08
2.14%
$147.81
12/31/2001
$15.74
-3.26%
$142.22
12/31/2000
$16.27
-2.52%
$141.08
12/31/1999
$16.69
3.02%
$137.53
12/31/1998
$16.20
4.58%
$128.84
12/31/1997
$15.40
3.96%
$119.52
12/31/1996
$14.90
8.05%
$112.62
12/31/1995
$13.79
1.55%
$101.70

About Standard & Poor's Index Services

Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.5 trillion invested and $4.85 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit www.standardandpoors.com/indices.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.

SOURCE Standard & Poor's

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