A.I.M. Users Bulletin Board

[ls7550]

     Date	Open	High	Low	Close	Volume	     Adj Close* 
 Nov 7, 2012	141.66	141.68	139.06	139.72	264,030,000	139.72

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Nov 8, 2002	90.53	91.57	89.52	89.65	37,905,400	73.70

10 year SPY Capital gain only = 139.72 / 89.65 = 1.5585
10 year dividend gain factor = 89.65 / 73.60 = 1.218

10 year Total gain = 139.72 / 73.7 = 1.896
which is the same as 1.5585 capital only gain x 1.218 dividend gain factor (bar some rounding error)

You can estimate dividend yield over that decade as the tenth root of the dividend gain factor i.e. 1.218^(1/10) = 1.02 i.e. 2% average dividend yield over the last decade