Stock repurchases are a growing share of corporate payout to households: Stock share repurchases and dividend payments as share of corporate profits, 1959–2016
| Date | Share repurchases | Dividend payments |
|---|---|---|
| 1959Q1 | -5.0% | 21.8% |
| 1959Q2 | -4.8% | 21.6% |
| 1959Q3 | -4.7% | 21.6% |
| 1959Q4 | -4.8% | 21.7% |
| 1960Q1 | -4.9% | 21.8% |
| 1960Q2 | -4.8% | 22.1% |
| 1960Q3 | -4.9% | 22.4% |
| 1960Q4 | -4.9% | 22.7% |
| 1961Q1 | -4.9% | 23.2% |
| 1961Q2 | -5.3% | 23.4% |
| 1961Q3 | -5.3% | 23.6% |
| 1961Q4 | -5.0% | 23.7% |
| 1962Q1 | -4.7% | 23.9% |
| 1962Q2 | -4.4% | 24.2% |
| 1962Q3 | -4.0% | 24.3% |
| 1962Q4 | -3.9% | 24.4% |
| 1963Q1 | -3.7% | 24.5% |
| 1963Q2 | -3.6% | 24.2% |
| 1963Q3 | -3.1% | 24.0% |
| 1963Q4 | -2.7% | 23.9% |
| 1964Q1 | -2.7% | 24.0% |
| 1964Q2 | -2.8% | 24.2% |
| 1964Q3 | -2.6% | 24.4% |
| 1964Q4 | -2.3% | 24.5% |
| 1965Q1 | -2.0% | 24.5% |
| 1965Q2 | -2.0% | 24.5% |
| 1965Q3 | -1.8% | 24.5% |
| 1965Q4 | -1.5% | 24.4% |
| 1966Q1 | -1.4% | 24.2% |
| 1966Q2 | -1.4% | 24.0% |
| 1966Q3 | -0.9% | 23.8% |
| 1966Q4 | -0.7% | 23.7% |
| 1967Q1 | -0.8% | 23.7% |
| 1967Q2 | -0.9% | 23.8% |
| 1967Q3 | -1.0% | 23.7% |
| 1967Q4 | -1.2% | 23.6% |
| 1968Q1 | -1.3% | 23.6% |
| 1968Q2 | -1.4% | 23.5% |
| 1968Q3 | -1.3% | 23.5% |
| 1968Q4 | -1.1% | 23.6% |
| 1969Q1 | -1.4% | 23.6% |
| 1969Q2 | -1.3% | 23.7% |
| 1969Q3 | -1.3% | 23.7% |
| 1969Q4 | -1.6% | 23.8% |
| 1970Q1 | -2.2% | 24.0% |
| 1970Q2 | -2.5% | 24.2% |
| 1970Q3 | -2.8% | 24.5% |
| 1970Q4 | -3.4% | 24.8% |
| 1971Q1 | -4.0% | 24.9% |
| 1971Q2 | -4.9% | 25.0% |
| 1971Q3 | -5.5% | 25.1% |
| 1971Q4 | -6.0% | 25.1% |
| 1972Q1 | -6.7% | 25.3% |
| 1972Q2 | -7.4% | 25.2% |
| 1972Q3 | -7.8% | 25.1% |
| 1972Q4 | -8.2% | 24.9% |
| 1973Q1 | -8.2% | 24.7% |
| 1973Q2 | -8.5% | 24.5% |
| 1973Q3 | -8.6% | 24.3% |
| 1973Q4 | -9.2% | 24.0% |
| 1974Q1 | -9.6% | 23.7% |
| 1974Q2 | -9.7% | 23.5% |
| 1974Q3 | -9.6% | 23.1% |
| 1974Q4 | -9.5% | 22.7% |
| 1975Q1 | -9.5% | 22.6% |
| 1975Q2 | -9.7% | 22.4% |
| 1975Q3 | -9.5% | 21.9% |
| 1975Q4 | -9.6% | 21.4% |
| 1976Q1 | -9.4% | 20.7% |
| 1976Q2 | -9.3% | 20.3% |
| 1976Q3 | -8.6% | 20.0% |
| 1976Q4 | -7.9% | 19.7% |
| 1977Q1 | -7.3% | 19.5% |
| 1977Q2 | -6.8% | 19.2% |
| 1977Q3 | -6.1% | 18.8% |
| 1977Q4 | -5.7% | 18.6% |
| 1978Q1 | -5.0% | 18.6% |
| 1978Q2 | -4.8% | 18.5% |
| 1978Q3 | -4.4% | 18.4% |
| 1978Q4 | -4.2% | 18.3% |
| 1979Q1 | -3.7% | 18.2% |
| 1979Q2 | -3.1% | 18.2% |
| 1979Q3 | -2.8% | 18.1% |
| 1979Q4 | -2.7% | 18.1% |
| 1980Q1 | -2.6% | 18.1% |
| 1980Q2 | -2.3% | 18.2% |
| 1980Q3 | -2.0% | 18.1% |
| 1980Q4 | -2.2% | 18.2% |
| 1981Q1 | -1.9% | 18.4% |
| 1981Q2 | -1.4% | 18.8% |
| 1981Q3 | -0.3% | 19.1% |
| 1981Q4 | 0.5% | 19.5% |
| 1982Q1 | 0.9% | 20.1% |
| 1982Q2 | 0.8% | 20.5% |
| 1982Q3 | 1.1% | 21.1% |
| 1982Q4 | 0.6% | 22.1% |
| 1983Q1 | 0.0% | 23.1% |
| 1983Q2 | -1.1% | 23.7% |
| 1983Q3 | -1.2% | 24.4% |
| 1983Q4 | -1.5% | 25.1% |
| 1984Q1 | -0.1% | 25.6% |
| 1984Q2 | 1.8% | 26.1% |
| 1984Q3 | 3.1% | 26.8% |
| 1984Q4 | 4.7% | 27.5% |
| 1985Q1 | 6.6% | 28.3% |
| 1985Q2 | 8.4% | 29.3% |
| 1985Q3 | 10.2% | 29.6% |
| 1985Q4 | 12.8% | 30.3% |
| 1986Q1 | 15.1% | 31.3% |
| 1986Q2 | 17.7% | 32.5% |
| 1986Q3 | 20.0% | 33.4% |
| 1986Q4 | 22.2% | 34.1% |
| 1987Q1 | 22.6% | 34.7% |
| 1987Q2 | 24.1% | 34.7% |
| 1987Q3 | 25.6% | 34.9% |
| 1987Q4 | 27.6% | 35.2% |
| 1988Q1 | 30.2% | 34.8% |
| 1988Q2 | 33.4% | 34.3% |
| 1988Q3 | 35.8% | 34.4% |
| 1988Q4 | 39.3% | 34.4% |
| 1989Q1 | 42.6% | 34.8% |
| 1989Q2 | 43.2% | 35.5% |
| 1989Q3 | 44.1% | 36.4% |
| 1989Q4 | 44.2% | 37.1% |
| 1990Q1 | 44.0% | 38.1% |
| 1990Q2 | 42.9% | 38.8% |
| 1990Q3 | 42.7% | 39.3% |
| 1990Q4 | 42.2% | 40.1% |
| 1991Q1 | 39.9% | 40.9% |
| 1991Q2 | 37.9% | 41.5% |
| 1991Q3 | 35.0% | 41.8% |
| 1991Q4 | 31.6% | 42.4% |
| 1992Q1 | 27.9% | 43.0% |
| 1992Q2 | 26.2% | 43.6% |
| 1992Q3 | 24.3% | 44.6% |
| 1992Q4 | 22.7% | 45.5% |
| 1993Q1 | 20.3% | 46.4% |
| 1993Q2 | 18.0% | 47.3% |
| 1993Q3 | 14.9% | 48.2% |
| 1993Q4 | 13.1% | 48.6% |
| 1994Q1 | 10.0% | 49.2% |
| 1994Q2 | 7.0% | 49.3% |
| 1994Q3 | 5.7% | 49.2% |
| 1994Q4 | 3.9% | 48.7% |
| 1995Q1 | 2.7% | 48.3% |
| 1995Q2 | 1.9% | 47.7% |
| 1995Q3 | 1.7% | 47.2% |
| 1995Q4 | 0.9% | 47.0% |
| 1996Q1 | 0.3% | 46.4% |
| 1996Q2 | 0.0% | 45.8% |
| 1996Q3 | 1.4% | 45.1% |
| 1996Q4 | 2.0% | 44.6% |
| 1997Q1 | 3.5% | 43.9% |
| 1997Q2 | 5.0% | 43.4% |
| 1997Q3 | 6.4% | 42.8% |
| 1997Q4 | 7.6% | 42.3% |
| 1998Q1 | 8.7% | 42.2% |
| 1998Q2 | 9.5% | 42.0% |
| 1998Q3 | 12.3% | 42.1% |
| 1998Q4 | 17.3% | 42.2% |
| 1999Q1 | 17.9% | 42.2% |
| 1999Q2 | 20.7% | 42.4% |
| 1999Q3 | 21.7% | 42.5% |
| 1999Q4 | 21.1% | 43.0% |
| 2000Q1 | 18.7% | 43.6% |
| 2000Q2 | 20.3% | 44.3% |
| 2000Q3 | 20.2% | 45.3% |
| 2000Q4 | 23.4% | 46.3% |
| 2001Q1 | 23.0% | 47.4% |
| 2001Q2 | 23.1% | 48.4% |
| 2001Q3 | 24.9% | 50.3% |
| 2001Q4 | 23.9% | 53.9% |
| 2002Q1 | 23.6% | 56.3% |
| 2002Q2 | 22.8% | 58.1% |
| 2002Q3 | 23.6% | 59.1% |
| 2002Q4 | 22.9% | 60.1% |
| 2003Q1 | 22.6% | 60.5% |
| 2003Q2 | 21.9% | 61.5% |
| 2003Q3 | 21.3% | 61.9% |
| 2003Q4 | 19.0% | 62.3% |
| 2004Q1 | 14.6% | 62.4% |
| 2004Q2 | 15.0% | 62.4% |
| 2004Q3 | 13.1% | 62.4% |
| 2004Q4 | 12.8% | 63.3% |
| 2005Q1 | 13.7% | 62.6% |
| 2005Q2 | 16.0% | 61.5% |
| 2005Q3 | 15.9% | 59.4% |
| 2005Q4 | 17.0% | 56.6% |
| 2006Q1 | 15.0% | 55.4% |
| 2006Q2 | 16.8% | 54.1% |
| 2006Q3 | 17.7% | 53.1% |
| 2006Q4 | 18.4% | 51.7% |
| 2007Q1 | 20.3% | 48.1% |
| 2007Q2 | 23.0% | 45.7% |
| 2007Q3 | 26.7% | 44.3% |
| 2007Q4 | 29.6% | 43.5% |
| 2008Q1 | 31.5% | 43.0% |
| 2008Q2 | 31.8% | 43.0% |
| 2008Q3 | 33.1% | 41.9% |
| 2008Q4 | 36.0% | 42.7% |
| 2009Q1 | 36.9% | 43.3% |
| 2009Q2 | 35.9% | 43.4% |
| 2009Q3 | 34.8% | 42.9% |
| 2009Q4 | 35.2% | 42.4% |
| 2010Q1 | 35.3% | 41.0% |
| 2010Q2 | 35.2% | 41.0% |
| 2010Q3 | 35.4% | 41.5% |
| 2010Q4 | 34.9% | 42.9% |
| 2011Q1 | 34.8% | 44.9% |
| 2011Q2 | 35.0% | 45.2% |
| 2011Q3 | 35.9% | 45.6% |
| 2011Q4 | 36.2% | 46.0% |
| 2012Q1 | 34.8% | 45.3% |
| 2012Q2 | 34.5% | 45.1% |
| 2012Q3 | 33.1% | 45.0% |
| 2012Q4 | 31.2% | 45.2% |
| 2013Q1 | 27.5% | 44.9% |
| 2013Q2 | 27.0% | 44.4% |
| 2013Q3 | 27.3% | 44.2% |
| 2013Q4 | 27.6% | 43.7% |
| 2014Q1 | 26.4% | 42.3% |
| 2014Q2 | 26.4% | 41.2% |
| 2014Q3 | 28.8% | 40.5% |
| 2014Q4 | 30.4% | 40.8% |
| 2015Q1 | 31.2% | 41.5% |
| 2015Q2 | 32.0% | 42.1% |
| 2015Q3 | 33.4% | 42.9% |
| 2015Q4 | 34.1% | 44.0% |
| 2016Q1 | 35.0% | 44.6% |
| 2016Q2 | 36.0% | 45.2% |
| 2016Q3 | 36.4% | 45.8% |
| 2016Q4 | 34.9% | 46.3% |
Note: Shaded areas denote recessions.
Source: Author’s analysis of data from the Financial Accounts of the United States (FAUS) from the Federal Reserve Board.