Highest Dividend Yields

Highest current dividend yield as percentage of stock price among all California companies. Most of these companies are real estate investment trusts that are structured to provide returns mainly in the form of dividends. Some dividends income may be return of capital.

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Dividend Indicated 5-yr. avg. 4/18/97 as a % of annual dividend stock Rank Company stock price dividend yield price 1 Meridian PT Realty Trust 83 44.0% $1.30 15.6% $3.00 2 Airlease Ltd. 17 1.8 12.5 10.59 3 Host Funding Inc. 11.2 1 8.2 8.5 4 Alexander Haagen Props. 10.5 1.4 10.4 13.75 5 Cherokee Inc. 9.8 0.6 0 6.13 6 Imperial Credit Mortgage 9.2 2.1 6.9 22.75 7 Western Investment RE Trust 8.8 1.1 8.8 12.75 8 G&L; Realty Corp. 8.3 1.4 10.6 17.25 9 Santa Fe Pacific Pipeline 8.1 3 7.9 36.88 10 CWM Mortgage Holdings Inc. 8.1 1.6 8.3 19.88 11 Burnham Pacific Property 8 1 8.9 12.5 12 Pimco Advisors 8 1.9 8.5 23.5 13 Price REIT Inc. 7.8 2.9 8.3 37.25 14 Realty Income Corp. 7.8 1.9 8.9 24.25 15 LTC Properties Inc. 7.8 1.4 8.4 17.5 16 Sunstone Hotel Investors 7.8 1 4.9 12.88 17 Pacific Gulf Properties 7.7 1.6 9.3 21.25 18 Franklin Select Realty 7.7 0.4 9.7 5.75 19 TriNet Corp. Realty 7.6 2.5 8.2 33.25 20 Nationwide Health Props. 7.6 1.6 7 20.63 21 Excel Realty Tr. Inc. 7.5 1.8 8.8 24.5 22 Health Care Prpty 7.3 2.4 6.7 33 23 Enova Corp. 7 1.6 6.6 22.25 24 Public Storage Property XI 6.9 1.4 8.4 19.75 25 Macerich Co. 6.6 1.8 7.9 26.63

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Highest current dividend yield as percentage of stock price for California companies that aren’t investment trusts, aren’t units or have irregular dividend patterns:

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Dividend Indicated 5-yr. avg. 4/18/97 as a % of annual dividend stock Rank Company stock price dividend yield price 1 Enova Corp. 7 1.6 6.6 22.25 2 Southern Calif. Water 5.9 1.2 6.1 21.13 3 California Water Svc 5.5 2.1 5.8 38.75 4 Dominguez Svcs Corp. 5.3 1.3 6.1 24.5 5 Argonaut Group Inc. 5.3 1.5 3.9 28 6 PG&E; Corp. 5.1 1.2 7 23.75 7 Pacific Enterprises 4.9 1.5 4 30.88 8 Edison International 4.7 1 6.3 21.25 9 Provena Foods Inc. 4.6 0.1 5.8 2.63 10 SJW Corp. 4.5 2.3 5.7 50.25 11 Occidental Petroleum Corp. 4.5 1 4.8 22.25 12 WD-40 Co. 4.5 2.5 5 55.25 13 Atlantic Richfield Co. 4.3 5.7 4.9 131.63 14 Potlatch Corp. 4.2 1.7 3.7 40.88 15 Zenith Natl. Insur. 3.9 1 4.4 25.5 16 Intl. Aluminum 3.9 1 4 25.75 17 Herbalife Intl. 3.6 0.6 3.9 16.5 18 Amwest Insurance Grp 3.6 0.4 2.9 12.25 19 Chevron Corp. 3.3 2.2 4 64.63 20 Unit Instruments Inc 3.3 0.2 2.6 7.38 21 Sumitomo Bank of Cal 3.2 0.8 4.2 25 22 American Recr. Ctrs 3.2 0.3 3.7 8.25 23 Cathay Bancorp Inc. 2.8 0.6 3.8 21.25 24 Flamemaster Corp. 2.8 0.1 3 5 25 Southwest Water Co. 2.8 0.4 4.5 12.88

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INSIDE THE NUMBERS

Highest Dividend Yields

Dividends are cash payments made to shareholders, usually quarterly. The dividend yield is the annual per-share dividend amount divided by the stock price.

For instance, if company X pays $1 in annual cash dividends and its current market price is $30 per share, an investor buying the stock at that price would earn a 3.3% yield from the cash dividends.