Table 2

Number of
Market value shares
all shares listed on
Listed on New York Stock
New York Stock Percentage Exchange Percentage Dividends
Exchange Change Number Shares Change Averag (SAAR, Bil.$)
bil. $ From millions From Price (Total for
(end of year) Previous (end of year) Previous per Entire year)
(Extrapolated) * Period (Extrapolated) Period Share (Extrapolated
1960 306.97 6458.00 53.70
1961 328.92 107.15% 7049.90 109.17% 56.84
1962 352.45 107.15% 7696.05 109.17% 60.16
1963 377.66 107.15% 8401.42 109.17% 63.68
1964 404.67 107.15% 9171.45 109.17% 67.41
1965 433.61 107.15% 10012.05 109.17% 71.35
1966 464.62 107.15% 10929.69 109.17% 75.52
1967 497.85 107.15% 11931.44 109.17% 79.94
1968 533.46 107.15% 13025.00 109.17% 84.61
1969 571.61 107.15% 14218.79 109.17% 89.56
1970 612.49 107.15% 15522.00 109.17% 94.80
1971 657.40 107.33% 16773.65 108.06% 103.91
1972 705.60 107.33% 18126.22 108.06% 113.90
1973 757.34 107.33% 19587.87 108.06% 124.86
1974 812.87 107.33% 21167.37 108.06% 136.86
1975 872.47 107.33% 22874.25 108.06% 150.02
1976 936.44 107.33% 24718.76 108.06% 164.44
1977 1005.10 107.33% 26712.00 108.06% 180.25
1978 1078.80 107.33% 28865.97 108.06% 197.58
1979 1157.90 107.33% 31193.64 108.06% 216.58
1980 1242.80 107.33% 33709.00 108.06% 237.40
1981 1360.01 109.43% 36822.03 109.24% 259.60
1982 1488.27 109.43% 40222.54 109.24% 283.88
1983 1628.64 109.43% 43937.09 109.24% 310.43
1984 1782.24 109.43% 47994.69 109.24% 339.46
1985 1950.33 109.43% 52427.00 109.24% 371.20
1986 2199.26 112.76% 59,620.00 113.72% 440.90
1987 2216.31 100.78% 71,802.00 120.43% 427.90
1988 2457.46 110.88% 76,093.00 105.98% 467.20
1989 3029.65 123.28% 82,797.00 108.81% 555.80
1990 2819.78 93.07% 90,732.00 109.58% 607.50
1991 3712.84 131.67% 99,622.00 109.80% 652.40
1992 4035.00 108.68% 115,839.00 116.28% 678.00
1993 4535.00 112.39% 131,004.00 113.09% 34.62 789.10
1994 4927.37 108.65% 143,554.85 109.58% 34.32 844.20
1995 5,353.67 108.65% 157,308.13 109.58% 34.03 909.50
1996 5,816.87 108.65% 172,379.05 109.58% 33.74 986.70
1997 6,320.14 108.65% 188,893.84 109.58% 33.46 1,070.45
1998 6,866.96 108.65% 206,990.84 109.58% 33.18 1,161.31
1999 7,461.09 108.65% 226,821.61 109.58% 32.89 1,259.88
2000 8,106.62 108.65% 248,552.28 109.58% 32.62 1,366.82
2001 8,808.00 108.65% 272,364.85 109.58% 32.34 1,482.84
2002 9,570.06 108.65% 298,458.79 109.58% 32.06 1,608.70
2003 10,398.06 108.65% 327,052.66 109.58% 31.79 1,745.25
2004 11,297.69 108.65% 358,385.97 109.58% 31.52 1,893.39
2005 12,275.17 108.65% 392,721.17 109.58% 31.26 2,054.10
2006 13,337.21 108.65% 430,345.85 109.58% 30.99 2,228.45
2007 14,491.14 108.65% 471,575.18 109.58% 30.73 2,417.60
2008 15,744.90 108.65% 516,754.48 109.58% 30.47 2,622.81
2009 17,107.14 108.65% 566,262.19 109.58% 30.21 2,845.43
2010 18,587.25 108.65% 620,512.99 109.58% 29.95 3,086.95
2011 20,195.41 108.65% 679,961.29 109.58% 29.70 3,348.98
2012 21,942.70 108.65% 745,105.04 109.58% 29.45 3,633.24
2013 23,841.18 108.65% 816,489.90 109.58% 29.20 3,941.63
2014 25,903.90 108.65% 894,713.78 109.58% 28.95 4,276.20
2015 28,145.10 108.65% 980,431.92 109.58% 28.71 4,639.16
2016 30,580.20 108.65% 1,074,362.29 109.58% 28.46 5,032.93
2017 33,225.98 108.65% 1,177,291.66 109.58% 28.22 5,460.13
2018 36,100.68 108.65% 1,290,082.19 109.58% 27.98 5,923.59
2019 39,224.10 108.65% 1,413,678.63 109.58% 27.75 6,426.39
2020 42,617.75 108.65% 1,549,116.24 109.58% 27.51 6,971.86
2021 46,305.01 108.65% 1,697,529.46 109.58% 27.28 7,563.63
2022 50,311.30 108.65% 1,860,161.42 109.58% 27.05 8,205.64
2023 54,664.21 108.65% 2,038,374.35 109.58% 26.82 8,902.14
2024 59,393.74 108.65% 2,233,660.99 109.58% 26.59 9,657.75
2025 64,532.46 108.65% 2,447,657.08 109.58% 26.36 10,477.50
2026 70,115.77 108.65% 2,682,155.09 109.58% 26.14 11,366.84
2027 76,182.16 108.65% 2,939,119.19 109.58% 25.92 12,331.66
2028 82,773.41 108.65% 3,220,701.77 109.58% 25.70 13,378.38
2029 89,934.92 108.65% 3,529,261.39 109.58% 25.48 14,513.94
2030 97,716.05 108.65% 3,867,382.59 109.58% 25.27 15,745.88
2031 106,170.40 108.65% 4,237,897.53 109.58% 25.05 17,082.40
2032 115,356.21 108.65% 4,643,909.68 109.58% 24.84 18,532.36
2033 125,336.78 108.65% 5,088,819.86 109.58% 24.63 20,105.39
2034 136,180.86 108.65% 5,576,354.70 109.58% 24.42 21,811.95
2035 147,963.17 108.65% 6,110,597.86 109.58% 24.21 23,663.35
2036 160,764.87 108.65% 6,696,024.24 109.58% 24.01 25,671.90
2037 174,674.17 108.65% 7,337,537.44 109.58% 23.81 27,850.94
2038 189,786.90 108.65% 8,040,510.87 109.58% 23.60 30,214.94
2039 206,207.18 108.65% 8,810,832.73 109.58% 23.40 32,779.60
2040 224,048.13 108.65% 9,654,955.35 109.58% 23.21 35,561.94
2041 243,432.67 108.65% 10,579,949.21 109.58% 23.01 38,580.45
2042 264,494.36 108.65% 11,593,562.18 109.58% 22.81 41,855.17
2043 287,378.29 108.65% 12,704,284.44 109.58% 22.62 45,407.85
2044 312,242.12 108.65% 13,921,419.55 109.58% 22.43 49,262.08
2045 339,257.17 108.65% 15,255,162.39 109.58% 22.24 53,443.47
2046 368,609.55 108.65% 16,716,684.59 109.58% 22.05 57,979.77
2047 400,501.47 108.65% 18,318,228.05 109.58% 21.86 62,901.11
2048 435,152.68 108.65% 20,073,207.52 109.58% 21.68 68,240.18
2049 472,801.89 108.65% 21,996,322.96 109.58% 21.49 74,032.43
2050 513,708.49 108.65% 24,103,682.65 109.58% 21.31 80,316.32
2051 558,154.32 108.65% 26,412,938.12 109.58% 21.13 87,133.60
2052 606,445.57 108.65% 28,943,432.01 109.58% 20.95 94,529.53
2053 658,914.96 108.65% 31,716,360.10 109.58% 20.78 102,553.23
2054 715,923.98 108.65% 34,754,948.82 109.58% 20.60 111,257.98
2055 777,865.40 108.65% 38,084,649.79 109.58% 20.42 120,701.60
2056 845,165.96 108.65% 41,733,353.07 109.58% 20.25 130,946.79
2057 918,289.33 108.65% 45,731,620.68 109.58% 20.08 142,061.60
2058 997,739.30 108.65% 50,112,942.69 109.58% 19.91 154,119.83
2059 1,084,063.25 108.65% 54,914,017.64 109.58% 19.74 167,201.58
2060 1,177,855.91 108.65% 60,175,060.00 109.58% 19.57 181,393.70
2061 1,279,763.46 108.65% 65,940,137.00 109.58% 19.41 196,790.46
2062 1,390,488.01 108.65% 72,257,537.71 109.58% 19.24 213,494.10
2063 1,510,792.39 108.65% 79,180,177.57 109.58% 19.08 231,615.55
2064 1,641,505.46 108.65% 86,766,041.55 109.58% 18.92 251,275.16
2065 1,783,527.76 108.65% 95,078,669.91 109.58% 18.76 272,603.48
2066 1,937,837.77 108.65% 104,187,690.37 109.58% 18.60 295,742.16
2067 2,105,498.60 108.65% 114,169,401.35 109.58% 18.44 320,844.85
2068 2,287,665.38 108.65% 125,107,411.05 109.58% 18.29 348,078.27
2069 2,485,593.14 108.65% 137,093,337.73 109.58% 18.13 377,623.27
2070 2,700,645.52 108.65% 150,227,577.20 109.58% 17.98 409,676.06
2071 2,934,304.13 108.65% 164,620,143.65 109.58% 17.82 444,449.51
2072 3,188,178.78 108.65% 180,391,591.21 109.58% 17.67 482,174.53
2073 3,464,018.55 108.65% 197,674,023.72 109.58% 17.52 523,101.67
2074 3,763,723.85 108.65% 216,612,201.22 109.58% 17.38 567,502.71
2075 4,089,359.51 108.65% 237,364,752.50 109.58% 17.23 615,672.54

* Figures beyond 1996 extrapolated from 1960 through 1995 averages
Percentage 80% of
Change Those Annual % of Stock
From Total Dividend Price
Previous Dividends per Share Paid as
Period (SAAR, Bil. ($) Dividends
1960
1961 105.85%
1962 105.85%
1963 105.85%
1964 105.85%
1965 105.85%
1966 105.85%
1967 105.85%
1968 105.85%
1969 105.85%
1970 105.85%
1971 109.61%
1972 109.61%
1973 109.61%
1974 109.61%
1975 109.61%
1976 109.61%
1977 109.61%
1978 109.61%
1979 109.61%
1980 109.61%
1981 109.35%
1982 109.35%
1983 109.35%
1984 109.35%
1985 109.35%
1986 118.78%
1987 97.05%
1988 109.18%
1989 118.96%
1990 109.30%
1991 107.39%
1992 103.92%
1993 116.39%
1994 109.58%
1995 109.58%
1996 108.49% 789.36 5.72 16.96%
1997 108.49% 856.36 5.67 16.94%
1998 108.49% 929.05 5.61 16.91%
1999 108.49% 1,007.91 5.55 16.89%
2000 108.49% 1,093.46 5.50 16.86%
2001 108.49% 1,186.27 5.44 16.84%
2002 108.49% 1,286.96 5.39 16.81%
2003 108.49% 1,396.20 5.34 16.78%
2004 108.49% 1,514.71 5.28 16.76%
2005 108.49% 1,643.28 5.23 16.73%
2006 108.49% 1,782.76 5.18 16.71%
2007 108.49% 1,934.08 5.13 16.68%
2008 108.49% 2,098.25 5.08 16.66%
2009 108.49% 2,276.35 5.02 16.63%
2010 108.49% 2,469.56 4.97 16.61%
2011 108.49% 2,679.18 4.93 16.58%
2012 108.49% 2,906.59 4.88 16.56%
2013 108.49% 3,153.30 4.83 16.53%
2014 108.49% 3,420.96 4.78 16.51%
2015 108.49% 3,711.33 4.73 16.48%
2016 108.49% 4,026.35 4.68 16.46%
2017 108.49% 4,368.11 4.64 16.43%
2018 108.49% 4,738.87 4.59 16.41%
2019 108.49% 5,141.11 4.55 16.38%
2020 108.49% 5,577.49 4.50 16.36%
2021 108.49% 6,050.91 4.46 16.33%
2022 108.49% 6,564.51 4.41 16.31%
2023 108.49% 7,121.71 4.37 16.29%
2024 108.49% 7,726.20 4.32 16.26%
2025 108.49% 8,382.00 4.28 16.24%
2026 108.49% 9,093.47 4.24 16.21%
2027 108.49% 9,865.33 4.20 16.19%
2028 108.49% 10,702.70 4.15 16.16%
2029 108.49% 11,611.15 4.11 16.14%
2030 108.49% 12,596.71 4.07 16.11%
2031 108.49% 13,665.92 4.03 16.09%
2032 108.49% 14,825.89 3.99 16.07%
2033 108.49% 16,084.31 3.95 16.04%
2034 108.49% 17,449.56 3.91 16.02%
2035 108.49% 18,930.68 3.87 15.99%
2036 108.49% 20,537.52 3.83 15.97%
2037 108.49% 22,280.76 3.80 15.94%
2038 108.49% 24,171.95 3.76 15.92%
2039 108.49% 26,223.68 3.72 15.90%
2040 108.49% 28,449.55 3.68 15.87%
2041 108.49% 30,864.36 3.65 15.85%
2042 108.49% 33,484.14 3.61 15.82%
2043 108.49% 36,326.28 3.57 15.80%
2044 108.49% 39,409.67 3.54 15.78%
2045 108.49% 42,754.77 3.50 15.75%
2046 108.49% 46,383.81 3.47 15.73%
2047 108.49% 50,320.89 3.43 15.71%
2048 108.49% 54,592.14 3.40 15.68%
2049 108.49% 59,225.94 3.37 15.66%
2050 108.49% 64,253.06 3.33 15.63%
2051 108.49% 69,706.88 3.30 15.61%
2052 108.49% 75,623.62 3.27 15.59%
2053 108.49% 82,042.58 3.23 15.56%
2054 108.49% 89,006.38 3.20 15.54%
2055 108.49% 96,561.28 3.17 15.52%
2056 108.49% 104,757.43 3.14 15.49%
2057 108.49% 113,649.28 3.11 15.47%
2058 108.49% 123,295.87 3.08 15.45%
2059 108.49% 133,761.26 3.04 15.42%
2060 108.49% 145,114.96 3.01 15.40%
2061 108.49% 157,432.37 2.98 15.38%
2062 108.49% 170,795.28 2.95 15.35%
2063 108.49% 185,292.44 2.93 15.33%
2064 108.49% 201,020.13 2.90 15.31%
2065 108.49% 218,082.78 2.87 15.28%
2066 108.49% 236,593.73 2.84 15.26%
2067 108.49% 256,675.88 2.81 15.24%
2068 108.49% 278,462.62 2.78 15.22%
2069 108.49% 302,098.62 2.75 15.19%
2070 108.49% 327,740.85 2.73 15.17%
2071 108.49% 355,559.60 2.70 15.15%
2072 108.49% 385,739.62 2.67 15.12%
2073 108.49% 418,481.33 2.65 15.10%
2074 108.49% 454,002.17 2.62 15.08%
2075 108.49% 492,538.03 2.59 15.06%

* Figures beyond 1996 extrapolated from 1960 through 1995 averages