The S&P 500 dividend yield has fallen to 1.08%, a level the index has not seen since the 1800s. For retirees who built their income plan around stock dividends, that number is the financial equivalent of finding out the well in the backyard has gone dry while the water bill keeps climbing. I’ve been writing ... S&P 500 Dividend Yield Hits 1.08%. The Lowest Payout Rate Since the 1800s Is a Retirement Red Flag.