S&P 500 Earnings Yield by Month as of September

 It shows the average S&P 500 dividend yield by month, from 1926 to the present day.

The graph shows that the S&P 500 dividend yield has fluctuated over time, but has generally been in a range of 3% to 5%. The highest dividend yields were in the early 1930s, during the Great Depression, and again in the late 1970s and early 1980s, during a period of high inflation.

The dividend yield has declined in recent decades, and is currently at 4.07%. This is due to a number of factors, including the growth of the technology sector (which tends to have lower dividend yields), and the fact that companies are retaining more of their earnings to invest in growth.

Despite the decline in dividend yield, the S&P 500 remains a good source of income for investors. The index has a long history of paying dividends, and the dividend yield is still higher than the yield on many other asset classes, such as bonds.

Here are some additional insights from the graph:

• The average S&P 500 dividend yield over the entire period is 7.26%.
• The highest monthly dividend yield was 17.5% in January 1933.
• The lowest monthly dividend yield was 1.14% in December 2008.
• The dividend yield has been declining since the early 1990s.
• The current dividend yield is 4.07%, which is below the long-term average.

Overall, the graph of historical S&P 500 dividend yield provides a useful perspective on the index's income potential. Investors can use this information to make informed decisions about whether to invest in the S&P 500 for its dividend income.