In its Q4 2012 "Guide to the Markets," released Thursday, J.P. Morgan Asset Management (JPM) has a poignant chart that highlights the importance of dividend income as a percentage of total return for the S&P 500 over the long term. Between 1926 and 2011, dividend income has accounted for an average annualized return of 4.1%, 126 basis points higher than the current yield for 30-year U.S. Treasuries.