NEW YORK, Dec. 2, 2004 (PRIMEZONE) -- Dow Jones Indexes today announced changes in the composition of the Dow Jones Select Dividend Index. The changes will be effective with the opening of trading on December 20, 2004.
With this regular annual review, Dow Jones Indexes is implementing the methodology modifications that were announced on November 10, 2004. The modifications are to broaden the number of components to 100 stocks from 50 currently and to strengthen the liquidity test to a three-month average trading volume of 200,000 shares a day, compared to the previous requirement of $1.5 million average daily dollar volume.
The reconstituted Dow Jones Select Dividend Index is more diverse by industry and stock size than the current version, as well as more liquid. The dividend yield of the enlarged Dow Jones Select Dividend Index is 3.43% as of November 30, 2004. On that same date, the 50-stock version had a yield of 3.61%.
The following 51 components will be added to the
Dow Jones Select Dividend Index:
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Indicated
annual Dividend
Name Industry dividend ($) Yield
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Merck & Co. Inc. Health Care 1.52 5.42%
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New York Community
Bancorp Inc. Financials 1.00 5.06%
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Washington Mutual
Inc. Financials 1.80 4.42%
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First Horizon National
Corp. Financials 1.72 3.94%
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Exelon Corp. Utilities 1.60 3.84%
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Regions Financial Corp. Financials 1.33 3.81%
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Scana Corp. Utilities 1.46 3.81%
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Deluxe Corp. Industrials 1.48 3.74%
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Maytag Corp. Consumer Goods 0.72 3.58%
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ONEOK Inc. Utilities 1.00 3.58%
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Citigroup Inc. Financials 1.60 3.58%
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Northeast Utilities Utilities 0.65 3.57%
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May Department
Stores Co. Consumer Services 0.97 3.45%
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Sara Lee Corp. Consumer Goods 0.79 3.36%
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Entergy Corp. Utilities 2.16 3.33%
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BB&T Corp. Financials 1.40 3.30%
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Arthur J.
Gallagher & Co. Financials 1.00 3.26%
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Kinder Morgan Inc. Oil & Gas 2.25 3.25%
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U.S. Bancorp Financials 0.96 3.24%
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Wells Fargo & Co. Financials 1.92 3.11%
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Jefferson-Pilot Corp. Financials 1.52 3.09%
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North Fork Bancorp Financials 0.88 3.06%
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Fannie Mae Financials 2.08 3.03%
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Albertsons Inc. Consumer Services 0.76 3.00%
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ChevronTexaco Corp. Oil & Gas 1.60 2.93%
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La-Z-Boy Inc. Consumer Goods 0.44 2.87%
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Republic Bancorp Inc. Financials 0.44 2.83%
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SunTrust Banks Inc. Financials 2.00 2.81%
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Pitney Bowes Inc. Technology 1.22 2.79%
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General Mills Inc. Consumer Goods 1.24 2.73%
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Bank of Hawaii Corp. Financials 1.32 2.72%
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Compass Bancshares Inc. Financials 1.25 2.68%
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Alltel Corp. Telecommunications 1.52 2.68%
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Whirlpool Corp. Consumer Goods 1.72 2.66%
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Eli Lilly & Co. Health Care 1.42 2.66%
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Waddell & Reed
Financial Inc. Financials 0.60 2.64%
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MDU Resources Group Inc. Industrials 0.72 2.64%
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UniSource Energy Corp. Utilities 0.64 2.62%
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Avery Dennison Corp. Basic Materials 1.52 2.59%
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Synovus Financial Corp. Financials 0.69 2.57%
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Equitable Resources Inc. Utilities 1.52 2.55%
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Coca-Cola Co. Consumer Goods 1.00 2.54%
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Fifth Third Bancorp Financials 1.28 2.54%
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Waste Management Inc. Industrials 0.75 2.52%
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PNM Resources Inc. Utilities 0.64 2.52%
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Kimberly-Clark Corp. Consumer Goods 1.60 2.52%
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Emerson Electric Co. Industrials 1.66 2.48%
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Abbott Laboratories Health Care 1.04 2.48%
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Cincinnati Financial
Corp. Financials 1.10 2.46%
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Pfizer Inc. Health Care 0.68 2.45%
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Bank of New York Co. Financials 0.80 2.43%
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Only one current component will be deleted from the Dow Jones Select Dividend Index. Whitney Holding Corp. (Financial; indicated annual dividend: $1.40; dividend yield: 3.03%) did not pass the liquidity threshold.
The Dow Jones Select Dividend Index was introduced about one year ago. It measures the performance of dividend-paying stocks selected for their high yields, their track records of maintaining or increasing dividends over the past five years, and their capability of sustaining their current payouts in the coming year. The index weighs component stocks by the ratios of their individual payouts to the total distribution for all components.
Further information as well as the complete component list and methodology of the Dow Jones Select Dividend Index can be found on the Dow Jones Indexes' web site http://www.djindexes.com.
Company additions to and deletions from the Dow Jones Select Dividend Index do not in any way reflect an opinion on the investment merits of the company.
Journalists may e-mail questions regarding this press release to PR-Indexes@dowjones.com or contact a member of the Dow Jones Indexes public relations group:
New York: Sybille A. Reitz, +1-212-597-5735 Karishma Thakkar, +1-212-597-5718 Frankfurt: Simona Deckers, +49-69-97142894 Nicole Wesch, +49-69-97142893
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