S&P 500 Dividend Weekly

Research evidence excerpt

S&P 500 Dividend Weekly

J P M O R G A N Global Markets Strategy

29 July 2026

For the Week Ended 28-Jul-2026

• Recap: Over the past week, 48 S&P 500 members announced new dividends Global Equity Derivatives Strategy

AC in line with their previous payouts, 9 announced hikes, and there was one cut Bram Kaplan, CFA

(HON) and one suspension (SWKS). (1-212) 272-1215

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

• BAC announced a 14% dividend hike (vs. 11% expected), and WFC Daniel Motoc, CFA

declared a new dividend in line with its post-CCAR guided 11% increase. (1-212) 622-0105

daniel.motoc@jpmchase.com

BX increased its variable dividend 11%, and WELL raised its dividend J.P. Morgan Securities LLC

~15%. Additionally, PFG, HWM, SWK, CTAS, and FIX hiked by an

Arda Sebuktekin

average of ~8%. Together, these 9 hikes add ~0.29 index points (ip) to the (1-212) 270-4397

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

• HON announced its first quarterly dividend following the Honeywell J.P. Morgan Securities LLC

Aerospace (HONA) spin-off and 1-for-2 reverse stock split. The 70c Tony SK Lee

quarterly dividend implies a ~71% cut vs. the split-adjusted pre-spin (852) 2800-8857

tony.sk.lee@jpmorgan.com

dividend, and reduces the SPX annual run rate by ~0.25ip (and NDX by J.P. Morgan Securities (Asia Pacific) Limited/ J.P.

~2.75ip). If/when HONA initiates a dividend, it would offset at least part Morgan Broking (Hong Kong) Limited

of that reduction. At last month’s investor day, HONA management said it Davide Silvestrini

is “committed to paying a competitive dividend and growing that dividend (44-20) 7134-4082

over time as our earnings expand”, and noted that dividends are its second davide.silvestrini@jpmorgan.com

J.P. Morgan Securities plc