Social Security Appendix 2

Appendix 2

Total Market Value, Number of Shares and Dividends Paid of All Shares Listed on the New York Stock Exchange. Source: Electronic Bulletin Board, University of Michigan.

_______________________________

Number of

Market value shares

all shares listed on

Listed on New York Stock

New York Stock Percentage Exchange Percentage Dividend Percentage

Exchange Change Number Shares Change Average (SAAR,Bil. $) Change Annual % of Stock

bil. $ From millions From Price (Total for From Dividend Price

(end of year) Previous (end of year) Previous per Entire year) Previous per Share Paid as

Year (Extrapolated Period (Extrapolated Period Share (Extrapolated Period ($) Dividends

after 1994) after 1994) after 1994)

1960 306.97 6,458.00 53.70

1961 328.92 107.15 7,049.90 109.17 56.84 105.85

1962 352.45 107.15 7,696.05 109.17 60.16 105.85

1963 377.66 107.15 8,401.42 109.17 63.68 105.85

1964 404.67 107.15 9,171.45 109.17 67.41 105.85

1965 433.61 107.15 10,012.05 109.17 71.35 105.85

1966 464.62 107.15 10,929.69 109.17 75.52 105.85

1967 497.85 107.15 11,931.44 109.17 79.94 105.85

1968 533.46 107.15 13,025.00 109.17 84.61 105.85

1969 571.61 107.15 14,218.79 109.17 89.56 105.85

1970 612.49 107.15 15,522.00 109.17 94.80 105.85

1971 657.40 107.33 16,773.65 108.06 103.91 109.61

1972 705.60 107.33 18,126.22 108.06 113.90 109.61

1973 757.34 107.33 19,587.87 108.06 124.86 109.61

1974 812.87 107.33 21,167.37 108.06 136.86 109.61

1975 872.47 107.33 22,874.25 108.06 150.02 109.61

1976 936.44 107.33 24,718.76 108.06 164.44 109.61

1977 1,005.10 107.33 26,712.00 108.06 180.25 109.61

1978 1,078.80 107.33 28,865.97 108.06 197.58 109.61

1979 1,157.90 107.33 31,193.64 108.06 216.58 109.61

1980 1,242.80 107.33 33,709.00 108.06 237.40 109.61

1981 1,360.01 109.43 36,822.03 109.24 259.60 109.35

1982 1,488.27 109.43 40,222.54 109.24 283.88 109.35

1983 1,628.64 109.43 43,937.09 109.24 310.43 109.35

1984 1,782.24 109.43 47,994.69 109.24 339.46 109.35

1985 1,950.33 109.43 52,427.00 109.24 371.20 109.35

1986 2,199.26 112.76 59,620.00 113.72 440.90 118.78

1987 2,216.31 100.78 71,802.00 120.43 427.90 97.05

1988 2,457.46 110.88 76,093.00 105.98 467.20 109.18

1989 3,029.65 123.28 82,797.00 108.81 555.80 118.96

1990 2,819.78 93.07 90,732.00 109.58 607.50 109.30

1991 3,712.84 131.67 99,622.00 109.80 652.40 107.39

1992 4,035.00 108.68 115,839.00 116.28 678.00 103.92

1993 4,535.00 112.39 131,004.00 113.09 34.62 789.10 116.39

1994 4,927.37 108.65 143,554.85 109.58 34.32 844.20 109.58

1995 5,353.67 108.65 157,308.13 109.58 34.03 909.50 109.58

1996 5,816.87 108.65 172,379.05 109.58 33.74 986.70 108.49 5.72 16.96%

1997 6,320.14 108.65 188,893.84 109.58 33.46 1,070.45 108.49 5.67 16.94%

1998 6,866.96 108.65 206,990.84 109.58 33.18 1,161.31 108.49 5.61 16.91%

1999 7,461.09 108.65 226,821.61 109.58 32.89 1,259.88 108.49 5.55 16.89%

2000 8,106.62 108.65 248,552.28 109.58 32.62 1,366.82 108.49 5.50 16.86%

2001 8,808.00 108.65 272,364.85 109.58 32.34 1,482.84 108.49 5.44 16.84%

2002 9,570.06 108.65 298,458.79 109.58 32.06 1,608.70 108.49 5.39 16.81%

2003 10,398.06 108.65 327,052.66 109.58 31.79 1,745.25 108.49 5.34 16.78%

2004 11,297.69 108.65 358,385.97 109.58 31.52 1,893.39 108.49 5.28 16.76%

2005 12,275.17 108.65 392,721.17 109.58 31.26 2,054.10 108.49 5.23 16.73%

2006 13,337.21 108.65 430,345.85 109.58 30.99 2,228.45 108.49 5.18 16.71%

2007 14,491.14 108.65 471,575.18 109.58 30.73 2,417.60 108.49 5.13 16.68%

2008 15,744.90 108.65 516,754.48 109.58 30.47 2,622.81 108.49 5.08 16.66%

2009 17,107.14 108.65 566,262.19 109.58 30.21 2,845.43 108.49 5.02 16.63%

2010 18,587.25 108.65 620,512.99 109.58 29.95 3,086.95 108.49 4.97 16.61%

2011 20,195.41 108.65 679,961.29 109.58 29.70 3,348.98 108.49 4.93 16.58%

2012 21,942.70 108.65 745,105.04 109.58 29.45 3,633.24 108.49 4.88 16.56%

2013 23,841.18 108.65 816,489.90 109.58 29.20 3,941.63 108.49 4.83 16.53%

2014 25,903.90 108.65 894,713.78 109.58 28.95 4,276.20 108.49 4.78 16.51%

2015 28,145.10 108.65 980,431.92 109.58 28.71 4,639.16 108.49 4.73 16.48%

2016 30,580.20 108.65 1,074,362.29 109.58 28.46 5,032.93 108.49 4.68 16.46%

2017 33,225.98 108.65 1,177,291.66 109.58 28.22 5,460.13 108.49 4.64 16.43%

2018 36,100.68 108.65 1,290,082.19 109.58 27.98 5,923.59 108.49 4.59 16.41%

2019 39,224.10 108.65 1,413,678.63 109.58 27.75 6,426.39 108.49 4.55 16.38%

2020 42,617.75 108.65 1,549,116.24 109.58 27.51 6,971.86 108.49 4.50 16.36%

2021 46,305.01 108.65 1,697,529.46 109.58 27.28 7,563.63 108.49 4.46 16.33%

2022 50,311.30 108.65 1,860,161.42 109.58 27.05 8,205.64 108.49 4.41 16.31%

2023 54,664.21 108.65 2,038,374.35 109.58 26.82 8,902.14 108.49 4.37 16.29%

2024 59,393.74 108.65 2,233,660.99 109.58 26.59 9,657.75 108.49 4.32 16.26%

2025 64,532.46 108.65 2,447,657.08 109.58 26.36 10,477.50 108.49 4.28 16.24%

2026 70,115.77 108.65 2,682,155.09 109.58 26.14 11,366.84 108.49 4.24 16.21%

2027 76,182.16 108.65 2,939,119.19 109.58 25.92 12,331.66 108.49 4.20 16.19%

2028 82,773.41 108.65 3,220,701.77 109.58 25.70 13,378.38 108.49 4.15 16.16%

2029 89,934.92 108.65 3,529,261.39 109.58 25.48 14,513.94 108.49 4.11 16.14%

2030 97,716.05 108.65 3,867,382.59 109.58 25.27 15,745.88 108.49 4.07 16.11%

2031 106,170.40 108.65 4,237,897.53 109.58 25.05 17,082.40 108.49 4.03 16.09%

2032 115,356.21 108.65 4,643,909.68 109.58 24.84 18,532.36 108.49 3.99 16.07%

2033 125,336.78 108.65 5,088,819.86 109.58 24.63 20,105.39 108.49 3.95 16.04%

2034 136,180.86 108.65 5,576,354.70 109.58 24.42 21,811.95 108.49 3.91 16.02%

2035 147,963.17 108.65 6,110,597.86 109.58 24.21 23,663.35 108.49 3.87 15.99%

2036 160,764.87 108.65 6,696,024.24 109.58 24.01 25,671.90 108.49 3.83 15.97%

2037 174,674.17 108.65 7,337,537.44 109.58 23.81 27,850.94 108.49 3.80 15.94%

2038 189,786.90 108.65 8,040,510.87 109.58 23.60 30,214.94 108.49 3.76 15.92%

2039 206,207.18 108.65 8,810,832.73 109.58 23.40 32,779.60 108.49 3.72 15.90%

2040 224,048.13 108.65 9,654,955.35 109.58 23.21 35,561.94 108.49 3.68 15.87%

2041 243,432.67 108.65 10,579,949.21 109.58 23.01 38,580.45 108.49 3.65 15.85%

2042 264,494.36 108.65 11,593,562.18 109.58 22.81 41,855.17 108.49 3.61 15.82%

2043 287,378.29 108.65 12,704,284.44 109.58 22.62 45,407.85 108.49 3.57 15.80%

2044 312,242.12 108.65 13,921,419.55 109.58 22.43 49,262.08 108.49 3.54 15.78%

2045 339,257.17 108.65 15,255,162.39 109.58 22.24 53,443.47 108.49 3.50 15.75%

2046 368,609.55 108.65 16,716,684.59 109.58 22.05 57,979.77 108.49 3.47 15.73%

2047 400,501.47 108.65 18,318,228.05 109.58 21.86 62,901.11 108.49 3.43 15.71%

2048 435,152.68 108.65 20,073,207.52 109.58 21.68 68,240.18 108.49 3.40 15.68%

2049 472,801.89 108.65 21,996,322.96 109.58 21.49 74,032.43 108.49 3.37 15.66%

2050 513,708.49 108.65 24,103,682.65 109.58 21.31 80,316.32 108.49 3.33 15.63%

2051 558,154.32 108.65 26,412,938.12 109.58 21.13 87,133.60 108.49 3.30 15.61%

2052 606,445.57 108.65 28,943,432.01 109.58 20.95 94,529.53 108.49 3.27 15.59%

2053 658,914.96 108.65 31,716,360.10 109.58 20.78 102,553.23 108.49 3.23 15.56%

2054 715,923.98 108.65 34,754,948.82 109.58 20.60 111,257.98 108.49 3.20 15.54%

2055 777,865.40 108.65 38,084,649.79 109.58 20.42 120,701.60 108.49 3.17 15.52%

2056 845,165.96 108.65 41,733,353.07 109.58 20.25 130,946.79 108.49 3.14 15.49%

2057 918,289.33 108.65 45,731,620.68 109.58 20.08 142,061.60 108.49 3.11 15.47%

2058 997,739.30 108.65 50,112,942.69 109.58 19.91 154,119.83 108.49 3.08 15.45%

2059 1,084,063.25 108.65 54,914,017.64 109.58 19.74 167,201.58 108.49 3.04 15.42%

2060 1,177,855.91 108.65 60,175,060.00 109.58 19.57 181,393.70 108.49 3.01 15.40%

2061 1,279,763.46 108.65 65,940,137.00 109.58 19.41 196,790.46 108.49 2.98 15.38%

2062 1,390,488.01 108.65 72,257,537.71 109.58 19.24 213,494.10 108.49 2.95 15.35%

2063 1,510,792.39 108.65 79,180,177.57 109.58 19.08 231,615.55 108.49 2.93 15.33%

2064 1,641,505.46 108.65 86,766,041.55 109.58 18.92 251,275.16 108.49 2.90 15.31%

2065 1,783,527.76 108.65 95,078,669.91 109.58 18.76 272,603.48 108.49 2.87 15.28%

2066 1,937,837.77 108.65 104,187,690.37 109.58 18.60 295,742.16 108.49 2.84 15.26%

2067 2,105,498.60 108.65 114,169,401.35 109.58 18.44 320,844.85 108.49 2.81 15.24%

2068 2,287,665.38 108.65 125,107,411.05 109.58 18.29 348,078.27 108.49 2.78 15.22%

2069 2,485,593.14 108.65 137,093,337.73 109.58 18.13 377,623.27 108.49 2.75 15.19%

2070 2,700,645.52 108.65 150,227,577.20 109.58 17.98 409,676.06 108.49 2.73 15.17%
Source: Electronic Bulletin Board from the University of Michigan.

			Number of
	Market value		shares
	all shares		listed on
	Listed on		New York Stock
	New York Stock	Percentage	Exchange	Percentage		Dividend	Percentage
	Exchange	Change	Number Shares	Change	Average	(SAAR,Bil. $)	Change	Annual	% of Stock
	bil. $	From	millions	From	Price	(Total for	From	Dividend	Price
	(end of year)	Previous	(end of year)	Previous	per	Entire year)	Previous	per Share	Paid as
Year	(Extrapolated	Period	(Extrapolated	Period	Share	(Extrapolated	Period	($)	Dividends
	after 1994)		after 1994)			after 1994)
1960	306.97		6,458.00			53.70
1961	328.92	107.15	7,049.90	109.17		56.84	105.85
1962	352.45	107.15	7,696.05	109.17		60.16	105.85
1963	377.66	107.15	8,401.42	109.17		63.68	105.85
1964	404.67	107.15	9,171.45	109.17		67.41	105.85
1965	433.61	107.15	10,012.05	109.17		71.35	105.85
1966	464.62	107.15	10,929.69	109.17		75.52	105.85
1967	497.85	107.15	11,931.44	109.17		79.94	105.85
1968	533.46	107.15	13,025.00	109.17		84.61	105.85
1969	571.61	107.15	14,218.79	109.17		89.56	105.85
1970	612.49	107.15	15,522.00	109.17		94.80	105.85
1971	657.40	107.33	16,773.65	108.06		103.91	109.61
1972	705.60	107.33	18,126.22	108.06		113.90	109.61
1973	757.34	107.33	19,587.87	108.06		124.86	109.61
1974	812.87	107.33	21,167.37	108.06		136.86	109.61
1975	872.47	107.33	22,874.25	108.06		150.02	109.61
1976	936.44	107.33	24,718.76	108.06		164.44	109.61
1977	1,005.10	107.33	26,712.00	108.06		180.25	109.61
1978	1,078.80	107.33	28,865.97	108.06		197.58	109.61
1979	1,157.90	107.33	31,193.64	108.06		216.58	109.61
1980	1,242.80	107.33	33,709.00	108.06		237.40	109.61
1981	1,360.01	109.43	36,822.03	109.24		259.60	109.35
1982	1,488.27	109.43	40,222.54	109.24		283.88	109.35
1983	1,628.64	109.43	43,937.09	109.24		310.43	109.35
1984	1,782.24	109.43	47,994.69	109.24		339.46	109.35
1985	1,950.33	109.43	52,427.00	109.24		371.20	109.35
1986	2,199.26	112.76	59,620.00	113.72		440.90	118.78
1987	2,216.31	100.78	71,802.00	120.43		427.90	97.05
1988	2,457.46	110.88	76,093.00	105.98		467.20	109.18
1989	3,029.65	123.28	82,797.00	108.81		555.80	118.96
1990	2,819.78	93.07	90,732.00	109.58		607.50	109.30
1991	3,712.84	131.67	99,622.00	109.80		652.40	107.39
1992	4,035.00	108.68	115,839.00	116.28		678.00	103.92
1993	4,535.00	112.39	131,004.00	113.09	34.62	789.10	116.39
1994	4,927.37	108.65	143,554.85	109.58	34.32	844.20	109.58
1995	5,353.67	108.65	157,308.13	109.58	34.03	909.50	109.58
1996	5,816.87	108.65	172,379.05	109.58	33.74	986.70	108.49	5.72	16.96%
1997	6,320.14	108.65	188,893.84	109.58	33.46	1,070.45	108.49	5.67	16.94%
1998	6,866.96	108.65	206,990.84	109.58	33.18	1,161.31	108.49	5.61	16.91%
1999	7,461.09	108.65	226,821.61	109.58	32.89	1,259.88	108.49	5.55	16.89%
2000	8,106.62	108.65	248,552.28	109.58	32.62	1,366.82	108.49	5.50	16.86%
2001	8,808.00	108.65	272,364.85	109.58	32.34	1,482.84	108.49	5.44	16.84%
2002	9,570.06	108.65	298,458.79	109.58	32.06	1,608.70	108.49	5.39	16.81%
2003	10,398.06	108.65	327,052.66	109.58	31.79	1,745.25	108.49	5.34	16.78%
2004	11,297.69	108.65	358,385.97	109.58	31.52	1,893.39	108.49	5.28	16.76%
2005	12,275.17	108.65	392,721.17	109.58	31.26	2,054.10	108.49	5.23	16.73%
2006	13,337.21	108.65	430,345.85	109.58	30.99	2,228.45	108.49	5.18	16.71%
2007	14,491.14	108.65	471,575.18	109.58	30.73	2,417.60	108.49	5.13	16.68%
2008	15,744.90	108.65	516,754.48	109.58	30.47	2,622.81	108.49	5.08	16.66%
2009	17,107.14	108.65	566,262.19	109.58	30.21	2,845.43	108.49	5.02	16.63%
2010	18,587.25	108.65	620,512.99	109.58	29.95	3,086.95	108.49	4.97	16.61%
2011	20,195.41	108.65	679,961.29	109.58	29.70	3,348.98	108.49	4.93	16.58%
2012	21,942.70	108.65	745,105.04	109.58	29.45	3,633.24	108.49	4.88	16.56%
2013	23,841.18	108.65	816,489.90	109.58	29.20	3,941.63	108.49	4.83	16.53%
2014	25,903.90	108.65	894,713.78	109.58	28.95	4,276.20	108.49	4.78	16.51%
2015	28,145.10	108.65	980,431.92	109.58	28.71	4,639.16	108.49	4.73	16.48%
2016	30,580.20	108.65	1,074,362.29	109.58	28.46	5,032.93	108.49	4.68	16.46%
2017	33,225.98	108.65	1,177,291.66	109.58	28.22	5,460.13	108.49	4.64	16.43%
2018	36,100.68	108.65	1,290,082.19	109.58	27.98	5,923.59	108.49	4.59	16.41%
2019	39,224.10	108.65	1,413,678.63	109.58	27.75	6,426.39	108.49	4.55	16.38%
2020	42,617.75	108.65	1,549,116.24	109.58	27.51	6,971.86	108.49	4.50	16.36%
2021	46,305.01	108.65	1,697,529.46	109.58	27.28	7,563.63	108.49	4.46	16.33%
2022	50,311.30	108.65	1,860,161.42	109.58	27.05	8,205.64	108.49	4.41	16.31%
2023	54,664.21	108.65	2,038,374.35	109.58	26.82	8,902.14	108.49	4.37	16.29%
2024	59,393.74	108.65	2,233,660.99	109.58	26.59	9,657.75	108.49	4.32	16.26%
2025	64,532.46	108.65	2,447,657.08	109.58	26.36	10,477.50	108.49	4.28	16.24%
2026	70,115.77	108.65	2,682,155.09	109.58	26.14	11,366.84	108.49	4.24	16.21%
2027	76,182.16	108.65	2,939,119.19	109.58	25.92	12,331.66	108.49	4.20	16.19%
2028	82,773.41	108.65	3,220,701.77	109.58	25.70	13,378.38	108.49	4.15	16.16%
2029	89,934.92	108.65	3,529,261.39	109.58	25.48	14,513.94	108.49	4.11	16.14%
2030	97,716.05	108.65	3,867,382.59	109.58	25.27	15,745.88	108.49	4.07	16.11%
2031	106,170.40	108.65	4,237,897.53	109.58	25.05	17,082.40	108.49	4.03	16.09%
2032	115,356.21	108.65	4,643,909.68	109.58	24.84	18,532.36	108.49	3.99	16.07%
2033	125,336.78	108.65	5,088,819.86	109.58	24.63	20,105.39	108.49	3.95	16.04%
2034	136,180.86	108.65	5,576,354.70	109.58	24.42	21,811.95	108.49	3.91	16.02%
2035	147,963.17	108.65	6,110,597.86	109.58	24.21	23,663.35	108.49	3.87	15.99%
2036	160,764.87	108.65	6,696,024.24	109.58	24.01	25,671.90	108.49	3.83	15.97%
2037	174,674.17	108.65	7,337,537.44	109.58	23.81	27,850.94	108.49	3.80	15.94%
2038	189,786.90	108.65	8,040,510.87	109.58	23.60	30,214.94	108.49	3.76	15.92%
2039	206,207.18	108.65	8,810,832.73	109.58	23.40	32,779.60	108.49	3.72	15.90%
2040	224,048.13	108.65	9,654,955.35	109.58	23.21	35,561.94	108.49	3.68	15.87%
2041	243,432.67	108.65	10,579,949.21	109.58	23.01	38,580.45	108.49	3.65	15.85%
2042	264,494.36	108.65	11,593,562.18	109.58	22.81	41,855.17	108.49	3.61	15.82%
2043	287,378.29	108.65	12,704,284.44	109.58	22.62	45,407.85	108.49	3.57	15.80%
2044	312,242.12	108.65	13,921,419.55	109.58	22.43	49,262.08	108.49	3.54	15.78%
2045	339,257.17	108.65	15,255,162.39	109.58	22.24	53,443.47	108.49	3.50	15.75%
2046	368,609.55	108.65	16,716,684.59	109.58	22.05	57,979.77	108.49	3.47	15.73%
2047	400,501.47	108.65	18,318,228.05	109.58	21.86	62,901.11	108.49	3.43	15.71%
2048	435,152.68	108.65	20,073,207.52	109.58	21.68	68,240.18	108.49	3.40	15.68%
2049	472,801.89	108.65	21,996,322.96	109.58	21.49	74,032.43	108.49	3.37	15.66%
2050	513,708.49	108.65	24,103,682.65	109.58	21.31	80,316.32	108.49	3.33	15.63%
2051	558,154.32	108.65	26,412,938.12	109.58	21.13	87,133.60	108.49	3.30	15.61%
2052	606,445.57	108.65	28,943,432.01	109.58	20.95	94,529.53	108.49	3.27	15.59%
2053	658,914.96	108.65	31,716,360.10	109.58	20.78	102,553.23	108.49	3.23	15.56%
2054	715,923.98	108.65	34,754,948.82	109.58	20.60	111,257.98	108.49	3.20	15.54%
2055	777,865.40	108.65	38,084,649.79	109.58	20.42	120,701.60	108.49	3.17	15.52%
2056	845,165.96	108.65	41,733,353.07	109.58	20.25	130,946.79	108.49	3.14	15.49%
2057	918,289.33	108.65	45,731,620.68	109.58	20.08	142,061.60	108.49	3.11	15.47%
2058	997,739.30	108.65	50,112,942.69	109.58	19.91	154,119.83	108.49	3.08	15.45%
2059	1,084,063.25	108.65	54,914,017.64	109.58	19.74	167,201.58	108.49	3.04	15.42%
2060	1,177,855.91	108.65	60,175,060.00	109.58	19.57	181,393.70	108.49	3.01	15.40%
2061	1,279,763.46	108.65	65,940,137.00	109.58	19.41	196,790.46	108.49	2.98	15.38%
2062	1,390,488.01	108.65	72,257,537.71	109.58	19.24	213,494.10	108.49	2.95	15.35%
2063	1,510,792.39	108.65	79,180,177.57	109.58	19.08	231,615.55	108.49	2.93	15.33%
2064	1,641,505.46	108.65	86,766,041.55	109.58	18.92	251,275.16	108.49	2.90	15.31%
2065	1,783,527.76	108.65	95,078,669.91	109.58	18.76	272,603.48	108.49	2.87	15.28%
2066	1,937,837.77	108.65	104,187,690.37	109.58	18.60	295,742.16	108.49	2.84	15.26%
2067	2,105,498.60	108.65	114,169,401.35	109.58	18.44	320,844.85	108.49	2.81	15.24%
2068	2,287,665.38	108.65	125,107,411.05	109.58	18.29	348,078.27	108.49	2.78	15.22%
2069	2,485,593.14	108.65	137,093,337.73	109.58	18.13	377,623.27	108.49	2.75	15.19%
2070	2,700,645.52	108.65	150,227,577.20	109.58	17.98	409,676.06	108.49	2.73	15.17%