10 Largest Dividend Payers in the U.S.

Jeremy Siegel和Jeremy Schwartz在投稿於WSJ的這篇文章中「The Great American Bond Bubble」提到了債券泡沫化，其中有一段是談到十家給付最多股利的公司，這是部份的原文：

Today, the 10 largest dividend payers in the U.S. are AT&T, Exxon Mobil, Chevron, Procter & Gamble, Johnson & Johnson, Verizon Communications, Phillip Morris International, Pfizer, General Electric and Merck. They sport an average dividend yield of 4%, approximately three percentage points above the current yield on 10-year TIPS and over one percentage point ahead of the yield on standard 10-year Treasury bonds. Their average price-earnings ratio, based on 2010 estimated earnings, is 11.7, versus 13 for the S&P 500 Index. Furthermore, their earnings this year (a year that hardly could be considered booming economically) are projected to cover their dividend by more than 2 to 1.

所以我就用Google的Stock screener設定股息配發超過三十億美元的公司，有以下40支股票：

Company name	Symbol	Div from cash flow	Market cap	Div yield (%)
BP plc (ADR)	BP	10.90B	113.99B	8.75
Time Warner Cable Inc.	TWC	10.86B	19.12B	2.93
Royal Dutch Shell plc (ADR)	RDS.A	10.53B	167.93B	6.06
AT&T Inc.	T	9.67B	156.29B	6.3
General Electric Company	GE	8.99B	160.69B	3.1
Exxon Mobil Corporation	XOM	8.02B	299.86B	2.94
Petroleo Brasileiro SA (ADR)	PBR	7.71B	151.00B	0.42
PetroChina Company Limited (ADR)	PTR	7.38B	202.97B	3.43
China Mobile Ltd. (ADR)	CHL	7.16B	213.38B	3.46
TOTAL SA (ADR)	TOT	6.55B	107.53B	5.57
Vodafone Group Plc (ADR)	VOD	6.45B	124.22B	7.22
Telefonica SA (ADR)	TEF	6.23B	98.79B	7.32
Eni SpA (ADR)	E	5.81B	79.65B	5.97
Banco Santander, SA (ADR)	STD	5.65B	96.36B	5.85
Pfizer Inc.	PFE	5.55B	128.41B	4.49
The Procter & Gamble Company	PG	5.46B	170.25B	3.22
Johnson & Johnson	JNJ	5.33B	161.80B	3.72
Chevron Corporation	CVX	5.30B	150.90B	3.71
Verizon Communications Inc.	VZ	5.27B	83.02B	6.34
Ecopetrol SA (ADR)	EC	4.93B	74.49B	3.28
Bank of America Corporation	BAC	4.86B	129.14B	0.3
GlaxoSmithKline plc (ADR)	GSK	4.68B	97.47B	4.81
Microsoft Corporation	MSFT	4.58B	209.68B	2.12
BHP Billiton plc (ADR)	BBL	4.56B	157.64B	2.74
BHP Billiton Limited (ADR)	BHP	4.56B	187.66B	2.34
HSBC Holdings plc (ADR)	HBC	4.53B	172.65B	3.13
Philip Morris International Inc.	PM	4.33B	95.27B	4.46
Wells Fargo & Company	WFC	4.30B	128.74B	0.78
Wal-Mart Stores, Inc.	WMT	4.22B	186.30B	2.4
Federal Home Loan Mortgage Corp	FMCC	4.10B	215.50M	0
France Telecom SA (ADR)	FTE	4.04B	54.44B	7.5
Novartis AG (ADR)	NVS	3.94B	116.09B	3.85
The Coca-Cola Company	KO	3.80B	127.71B	3.15
Statoil ASA(ADR)	STO	3.76B	62.47B	4.59
Sanofi-Aventis SA (ADR)	SNY	3.70B	75.13B	5.1
JPMorgan Chase & Co.	JPM	3.42B	147.27B	0.53
Unilever plc (ADR)	UL	3.38B	75.20B	4.1
Citigroup Inc.	C	3.24B	108.65B	0
Merck & Co., Inc.	MRK	3.22B	107.39B	4.35
Intel Corporation	INTC	3.11B	105.29B	3.24

※Sorted by Div from cash flow

過去半年，十年公債殖利率從最高的4.01%跌到最低的2.55%，而假設十年公債的duration為八年，那麼這十年公債的價格就上漲了11.68%，而以IEF這檔ETF來看的確是差不多。如果債券泡沫破了，那麼持有高股息的股票可能更有助於抗通膨。

不過如果要挑選定存股，那個就應該以追求股利收入為主，並且選擇波動比較小的公司，因此同樣在Stock Screener設定殖利率超過2.5%、市值超過50億、Beta值小於1.0以及股息配發超過30億的股票，這是結果，共九家公司：

Company name	Symbol	Market cap	Div yield (%)	Beta	Div from cash flow	Consecutive Div. Increases	Dividend Yield 5yr Avg (%)
Exxon Mobil Corporation	XOM	299.86B	2.94	0.48	8.02B	27 years	2.1
The Procter & Gamble Company	PG	170.25B	3.22	0.54	5.46B	56 years	2.5
Johnson & Johnson	JNJ	161.80B	3.72	0.56	5.33B	47 years	2.7
The Coca-Cola Company	KO	127.71B	3.15	0.62	3.80B	47 years	2.8
Verizon Communications Inc.	VZ	83.02B	6.34	0.62	5.27B	5 years	5.1
AT&T Inc.	T	156.29B	6.3	0.71	9.67B	19 years	5.1
Chevron Corporation	CVX	150.90B	3.71	0.71	5.30B	19 years	3.2
Pfizer Inc.	PFE	128.41B	4.49	0.71	5.55B	0 years	5
Merck & Co., Inc.	MRK	107.39B	4.35	0.85	3.22B	0 years	4.1

※Sorted by Beta