Calculated based upon earnings yield and S&P 500 levels each year. The raw data for this table was obtained from Bloomberg (and from S&P).
Year | Earnings Yield | Dividend Yield | S&P 500 | Earnings | Dividends |
1960 | 5.34% | 3.41% | 58.11 | 3.10 | 1.98 |
1961 | 4.71% | 2.85% | 71.55 | 3.37 | 2.04 |
1962 | 5.81% | 3.40% | 63.1 | 3.67 | 2.15 |
1963 | 5.51% | 3.13% | 75.02 | 4.13 | 2.35 |
1964 | 5.62% | 3.05% | 84.75 | 4.76 | 2.58 |
1965 | 5.73% | 3.06% | 92.43 | 5.30 | 2.83 |
1966 | 6.74% | 3.59% | 80.33 | 5.41 | 2.88 |
1967 | 5.66% | 3.09% | 96.47 | 5.46 | 2.98 |
1968 | 5.51% | 2.93% | 103.86 | 5.72 | 3.04 |
1969 | 6.63% | 3.52% | 92.06 | 6.10 | 3.24 |
1970 | 5.98% | 3.46% | 92.15 | 5.51 | 3.19 |
1971 | 5.46% | 3.10% | 102.09 | 5.57 | 3.16 |
1972 | 5.23% | 2.70% | 118.05 | 6.17 | 3.19 |
1973 | 8.16% | 3.70% | 97.55 | 7.96 | 3.61 |
1974 | 13.64% | 5.43% | 68.56 | 9.35 | 3.72 |
1975 | 8.55% | 4.14% | 90.19 | 7.71 | 3.73 |
1976 | 9.07% | 3.93% | 107.46 | 9.75 | 4.22 |
1977 | 11.43% | 5.11% | 95.1 | 10.87 | 4.86 |
1978 | 12.11% | 5.39% | 96.11 | 11.64 | 5.18 |
1979 | 13.48% | 5.53% | 107.94 | 14.55 | 5.97 |
1980 | 11.04% | 4.74% | 135.76 | 14.99 | 6.44 |
1981 | 12.39% | 5.57% | 122.55 | 15.18 | 6.83 |
1982 | 9.83% | 4.93% | 140.64 | 13.82 | 6.93 |
1983 | 8.06% | 4.32% | 164.93 | 13.29 | 7.12 |
1984 | 10.07% | 4.68% | 167.24 | 16.84 | 7.83 |
1985 | 7.42% | 3.88% | 211.28 | 15.68 | 8.20 |
1986 | 5.96% | 3.38% | 242.17 | 14.43 | 8.19 |
1987 | 6.49% | 3.71% | 247.08 | 16.04 | 9.17 |
1988 | 8.69% | 3.68% | 277.72 | 24.12 | 10.22 |
1989 | 6.88% | 3.32% | 353.4 | 24.32 | 11.73 |
1990 | 6.86% | 3.74% | 330.22 | 22.65 | 12.35 |
1991 | 4.63% | 3.11% | 417.09 | 19.30 | 12.97 |
1992 | 4.79% | 2.90% | 435.71 | 20.87 | 12.64 |
1993 | 5.77% | 2.72% | 466.45 | 26.90 | 12.69 |
1994 | 6.91% | 2.91% | 459.27 | 31.75 | 13.36 |
1995 | 6.12% | 2.30% | 615.93 | 37.70 | 14.17 |
1996 | 5.49% | 2.01% | 740.74 | 40.63 | 14.89 |
1997 | 4.54% | 1.60% | 970.43 | 44.09 | 15.52 |
1998 | 3.60% | 1.32% | 1229.23 | 44.27 | 16.20 |
1999 | 3.52% | 1.14% | 1469.25 | 51.68 | 16.71 |
2000 | 4.25% | 1.23% | 1320.28 | 56.13 | 16.27 |
2001 | 3.38% | 1.37% | 1148.09 | 38.85 | 15.74 |
2002 | 5.23% | 1.83% | 879.82 | 46.04 | 16.08 |
2003 | 4.92% | 1.61% | 1111.91 | 54.69 | 17.88 |
2004 | 5.58% | 1.60% | 1211.92 | 67.68 | 19.407 |
2005 | 6.12% | 1.79% | 1248.29 | 76.45 | 22.38 |
2006 | 6.18% | 1.77% | 1418.3 | 87.72 | 25.05 |
2007 | 5.62% | 1.89% | 1468.36 | 82.54 | 27.73 |
2008 | 7.24% | 3.11% | 903.25 | 65.39 | 28.05 |
2009 | 5.45% | 2.00% | 1115.1 | 60.8 | 22.31 |
2010 | 6.65% | 1.84% | 1257.64 | 83.66 | 23.12 |
2011 | 7.72% | 2.07% | 1257.60 | 97.05 | 26.02 |
2012* | 7.18% | 2.13% | 1426.19 | 102.47 | 30.44 |