S&P 500 Dividend Weekly: For the Week Ended 21-Jul-2026

Research evidence excerpt

S&P 500 Dividend Weekly: For the Week Ended 21-Jul-2026

J P M O R G A N Global Markets Strategy

22 July 2026

S&P 500 Dividend Weekly

For the Week Ended 21-Jul-2026

• Recap: Over the past week, 38 S&P 500 members announced new dividends Global Equity Derivatives Strategy

AC in line with their previous payouts, 10 announced hikes, and there were no cuts Bram Kaplan, CFA

or suspensions. (1-212) 272-1215

• Dividend News: bram.kaplan@jpmorgan.comJ.P. Morgan Securities LLC

• MS, C, and BNY declared new dividends in-line with their previously Daniel Motoc, CFA

guided increases. Three additional banks announced new post-CCAR (1-212) 622-0105

daniel.motoc@jpmchase.com

dividend increases: RF and SYF both raised their payouts by 13%, and J.P. Morgan Securities LLC

NTRS by 10%. Additionally, PPG, CNP, ALB, and SJM hiked by an

Arda Sebuktekin

average of ~3%. Together, these 10 hikes add add ~0.21 index points (ip) (1-212) 270-4397

to the SPX’s annual dividend run rate. arda.sebuktekin@jpmchase.com

• Large payers JNJ, PEP, KO, TXN, QCOM, SO, AEP, and OKE J.P. Morgan Securities LLC

announced unchanged dividends over the past week, in line with Tony SK Lee

expectations. (852) 2800-8857

tony.sk.lee@jpmorgan.com

• Performance: SPX dividend futures were little changed across the curve w/w J.P.MorganMorganBrokingSecurities(Hong (AsiaKong)Pacific)LimitedLimited/ J.P.

(Figure 2S&P50dividendfuturestermstructure - Figure 3S&P50dividendfutureslevels). Davide Silvestrini

• Open Interest in SPX dividend futures rose ~0.5% w/w, with modest increases (44-20) 7134-4082

in 2027/30 partially offset by a slight decrease in 2026/28 contracts outstanding davide.silvestrini@jpmorgan.com

J.P. Morgan Securities plc

(Figure 4S&P50dividendfuturesopeninterestS&P50dividendfuturesopenintere).