| Year | Number of Sample | Number of companies pay cash dividends | APR (%) | TPR (%) | APR-TPR (%) |
| 2008 | 722 | 381 | 52.77% | 63.02% | −10.25% |
| 2009 | 718 | 385 | 53.62% | 57.81% | −4.19% |
| 2010 | 711 | 396 | 55.70% | 57.74% | −2.04% |
| 2011 | 706 | 418 | 59.21% | 61.57% | −2.36% |
| 2012 | 712 | 474 | 66.57% | 61.85% | 4.72% |
| 2013 | 707 | 488 | 69.02% | 61.39% | 7.64% |
| 2014 | 691 | 466 | 67.44% | 59.57% | 7.87% |