S&P 500 share buybacks and dividends

Dividends and buybacks among index members totaled $225.8 billion for the quarter ended June 30. This was down from a four-year high of $258 billion reported in the prior quarter. Dividend payouts were 1.7% higher quarter-over-quarter, while buybacks decreased by 21%. Buybacks reached a four-year high of $161.4 billion in the first quarter of 2016, as the depressed equity market made share prices more attractive to companies looking to reduce outstanding share counts.

Information technology, financials and consumer discretionary firms were the most active sectors during the quarter, accounting for about 60% of all buybacks. Apple and General Electric led the index constituents, buying back $10.2 billion and $8 billion, respectively. Over the trailing 12 months, Apple has spent $37 billion over the trailing four quarters, far surpassing the rest of the index.