DLN - July U.S. Dividend Update In Charts

• The Federal Reserve's preferred inflation gauge - the Personal Consumption Expenditures Index - is up less than 5% since mid-2019, meaning dividends have proved a nice inflation hedge in a negative real interest rate environment.
• After the big banks were restricted on payouts in 2020, five of the six biggest dividend increases from a cash payout perspective have come from Financials  a total of over $7 billion in increased payouts.
• In a world of negative real yields in Treasuries, dividends can represent an increasingly attractive income replacement solution for yield-starved investors.

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