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Payout ratio by yield band: US payers above $1B market cap, latest snapshot on file

Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-22, from Dividend Yield Traps: How to Spot One.

as of table 5×6read in context →
Payout ratio by yield band: US payers above $1B market cap, latest snapshot on file — 5 rows by 6 columns, computed from US exchange, SIP and OPRA data.
yield_bandpayersmedian_yield_pctmedian_payout_ratio_pctpct_paying_over_earningspct_no_positive_eps
under 2%6360.8921.43.69.1
2-4%3822.744913.76.5
4-6%1434.6594.345.612.6
6-8%536.63119.854.820.8
8% and up5610.96138.278.716.1
Rows × columns
5 × 6
Computed
Completeness
No missing values
Source
US exchange, SIP and OPRA market data
Licence
Strasmore terms · free, no signup
Formats
JSON · CSV · the SQL below

What each column holds

Column definitions for Payout ratio by yield band: US payers above $1B market cap, latest snapshot on file, derived from the stored result.
ColumnTypeRangeNotes
yield_band text 5 distinct values (2-4%, 4-6%, 6-8%…)
payers number 53 to 636
median_yield_pct number 0.89 to 10.96 percent
median_payout_ratio_pct number 21.4 to 138.2 percent
pct_paying_over_earnings number 3.6 to 78.7 percent
pct_no_positive_eps number 6.5 to 20.8 percent

Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.

the exact SQL behind every number 
SELECT multiIf(dividend_yield * 100 >= 8, '8% and up',
               dividend_yield * 100 >= 6, '6-8%',
               dividend_yield * 100 >= 4, '4-6%',
               dividend_yield * 100 >= 2, '2-4%',
               'under 2%') AS yield_band,
       count() AS payers,
       round(quantileDeterministic(0.5)(dividend_yield * 100, cityHash64(ticker)), 2) AS median_yield_pct,
       round(quantileDeterministicIf(0.5)(dividend_yield * price / earnings_per_share * 100,
                                          cityHash64(ticker), earnings_per_share > 0), 1) AS median_payout_ratio_pct,
       round(100 * countIf(earnings_per_share > 0 AND dividend_yield * price > earnings_per_share)
             / countIf(earnings_per_share > 0), 1) AS pct_paying_over_earnings,
       round(100 * countIf(earnings_per_share <= 0) / count(), 1) AS pct_no_positive_eps
FROM global_markets.stocks_ratios
WHERE date = (SELECT max(date) FROM global_markets.stocks_ratios)
  AND price >= 5
  AND market_cap >= 1000000000
  AND dividend_yield > 0
  AND earnings_per_share IS NOT NULL
GROUP BY yield_band
HAVING countIf(earnings_per_share > 0) > 0
ORDER BY median_yield_pct

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