PR Newswire
NEW YORK, Dec. 18, 2018
NEW YORK, Dec. 18, 2018 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") announced today that preliminary Q3 2018 S&P 500® stock buybacks, or share repurchases, surpassed the $200 billion mark for the first time to set a record $203.8 billion. This is the third consecutive record, displacing the prior quarterly record of $190.6 billion, set during Q2 2018 and a 57.7% increase from the $129.2 billion reported for Q3 2017. For the first three quarters of 2018, buybacks are up 52.6% to $583.4 billion from the prior year's $382.4 billion, and stand 1% away from the annual record, set in 2007, of $589.1 billion with a full quarter yet to report.
For the 12-month period ending September 2018, S&P 500 issues spent a record $720.4 billion on buybacks, up 39.1% from $517.7 billion for the corresponding 2017 period.
Historical data on S&P 500 buybacks are available at www.spdji.com/indices/equity/sp-500.
Key Takeaways:
"Companies have used their tax savings to push up discretionary buybacks and boost earnings through significantly reduced share counts," said Howard Silverblatt, Senior Index Analyst at S&P Dow Jones Indices. "Adding to the impact, Q4 average issue prices have declined 3.3% which would increase the number of shares a company can buy with the same expenditure and further increase the EPS tailwind."
"The buying, while broad, continued to be top heavy, with the top 20 issues accounting for 54.3% of all S&P 500 buybacks, a level not seen since Q1 2010, when it was at 59.8%."
Q2 2018 GICS® Sector Analysis:
Kurzfristig positionieren in Alphabet C | ||
ME4ZRN
| Ask: 4,00 | Hebel: 20,15 |
mit starkem Hebel |
Zum Produkt
| |
MB8XEV
| Ask: 4,88 | Hebel: 7,82 |
mit moderatem Hebel |
Zum Produkt
| |
Information Technology expenditures increased 15.1%, after Q2's 12.8% gain, to $82.3 billion – compared to $71.5 billion for Q2 2018 and $27.9 billion for Q3 2017. The sector represents 40.4% of the index's buybacks, up from 21.6% for Q3 2017.
Energy expenditures increased 71.1% to $7.3 billion compared to $4.3 billion for Q2 2018 and were up 216% from their $2.3 billion posted in Q3 2017, but remained at 61.2% of their $112.0 billion Q3 2013 expenditure 5-years ago.
Consumer sectors split, as Consumer Discretionary buybacks decreased their expenditure 13.1% to $19.7 billion, down from $22.7 billion for Q2 2018. Consumer Staples increased 52.4% to $10.0 billion, up from $6.6 billion for Q2 2018.
Issues:
The five issues with the highest total buybacks for Q2 2018 are:
Total Shareholder Return:
Silverblatt determined that total shareholder return, through regular cash dividends and buybacks, increased 5.7% to $319.5 billion, up from $302.2 billion for Q2 2018 and up 26.2% from the $234.6 billion for Q3 2017.
For the 12-month period ending September 2018, shareholder return totaled $1.166 trillion, up 25.2% from $931.9 billion for the 12-month period ending September 2017.
S&P 500 dividends posted a new record payment for Q3 2018, at $115.7 billion, and was up 9.7% from its $105.4 billion Q3 2017 payment. Dividend payments totaled a record $446.0 billion for the 12-month period ending September 2018, up 7.7% from $414.1 billion for the 12-month period ending September 2017.
"Shareholder return for the first three quarters of 2018 has increased significantly, with Q4 appearing to continue the trend, as companies give some of their tax savings back to shareholders directly through dividends, and indirectly through stock repurchases, as both buybacks and dividends are set to post new annual records," said Silverblatt.
"Buybacks continue to be a high corporate priority, and favorite, as they support stock price via more purchases and increase EPS through lower share counts.
"One strong takeaway is the trend in dividends where more issues continue to increase with greater average size increases. Dividends, unlike buybacks, are a pure cash-flow item, so when they are increased, companies are usually very confident of their future earnings flow," said Silverblatt.
For more information about S&P Dow Jones Indices, please visit www.spdji.com.
S&P Dow Jones Indices | | | | | | | | | |
S&P 500, $ U.S. BILLIONS | | (preliminary in bold) | | | | | | | |
PERIOD | MARKET | OPERATING | AS REPORTED | | | | | DIVIDEND & | DIVIDENDS |
| VALUE | EARNINGS | EARNINGS | DIVIDENDS | BUYBACKS | DIVIDEND | BUYBACK | BUYBACK | & BUYBACKS |
| $ BILLIONS | $ BILLIONS | $ BILLIONS | $ BILLIONS | $ BILLIONS | YIELD | YIELD | YIELD | $ BILLION |
12 Months Sep 2018 | $24,579.28 | $1,276.68 | $1,106.65 | $445.96 | $720.40 | 1.81% | 2.93% | 4.75% | $1,166.36 |
12 Months Sep 2017 | $21,578.98 | $1,017.18 | $918.66 | $414.13 | $517.72 | 1.92% | 2.40% | 4.32% | $931.85 |
| | | | | | | | | |
2017 | $22,821.24 | $1,066.00 | $940.86 | $419.77 | $519.40 | 1.84% | 2.28% | 4.12% | $939.17 |
2016 | $19,267.93 | $919.85 | $818.55 | $397.21 | $536.38 | 2.06% | 2.78% | 4.85% | $933.60 |
2015 | $17,899.56 | $885.38 | $762.74 | $382.32 | $572.16 | 2.14% | 3.20% | 5.33% | $954.47 |
| | | | | | | | | |
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