According to the just-published RiskPremia Over Time Report from Ibbotson Associates, dividends accounted for 4.3% of the 10.4% annualized return for large-cap stocks from 1926 through 2003.
However, and somewhat frustratingly, political riskpremia will continue to exert pressure in the global oil market so prices could be higher than fundamentals suggest.
The report published Wednesday included for the first time in its list of key risks the chance of a shake-out in global markets driven by a "reassessment of riskpremia".