| Monthly
Breakpoints: |
|
1926-2007 |
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| Construction: |
|
We
compute D/P (in percent) breakpoints at the end of each June. The dividend
yield in June of year t is the total dividends paid from July of t-1 to June of
t per dollar of equity in June of t. |
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| Stocks: |
|
The
breakpoints for year t use NYSE stocks for which we have at least seven months
(to compute the dividend yield) from July of t-1 to June of t. (Only six
monthly returns are required in June 1926.) We do not include stocks that pay
no dividends from July of t-1 to June of t. |
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| Percentiles: |
|
The
file contains every fifth percentile of D/P, from 5% to 100%. |
