Mergent Dividend Achievers Index - DAA "Annual Reconstitution -- Effective After the Close of Trading on January 31, 2012." ---------- Ticker Cusip Name Old Shares New Shares ABM 000957100 ABM INDUSTRIES INC 60826742 57925882 ABT 002824100 ABBOTT LABORATORIES 1778099830 1782872277 ADM 039483102 ARCHER DANIELS MIDLAND CO 762991862 729956485 ADP 053015103 AUTOMATIC DATA PROCESSING INC 557784913 530122716 AFL 001055102 AFLAC INC 533644193 468883123 ALB 012653101 ALBEMARLE CORP 104798717 83137659 AOS 831865209 SMITH (AO) CORP 52785738 43035230 APD 009158106 AIR PRODUCTS & CHEMICALS INC 243464859 233321961 AROW 042744102 ARROW FINANCIAL CORP Addition 12661617 ATNI 049079205 ATLANTIC TELE NETWORK ORD 17592047 19288386 ATO 049560105 ATMOS ENERGY CORP 103134207 106571272 ATR 038336103 APTARGROUP INC 76278997 76348174 AVP 054303102 AVON PRODUCTS INC 492002580 468305756 AWR 029899101 AMERICAN STATES WATER CO 21343930 20944470 BANF 05945F103 BANCFIRST CORP (OKLAHOMA CITY OKLA) 17278123 16285784 BCR 067383109 BARD (CR) INC 98977326 90982440 BDX 075887109 BECTON DICKINSON AND CO 248392491 232281388 BEN 354613101 FRANKLIN RESOURCES INC 251922794 232968297 BF/B 115637209 BROWN-FORMAN CORP CLB 100092201 95486540 BKH 092113109 BLACK HILLS CORPORATION 45054065 44532013 BMI 056525108 BADGER METER INC 17263218 15664679 BMS 081437105 BEMIS CO INC 118125793 117685904 BPL 118230101 BUCKEYE PARTNERS LP 106153766 100562506 BRC 104674106 BRADY CORP 60294489 52249436 BRO 115236101 BROWN & BROWN INC 163263980 159970028 CAH 14149Y108 CARDINAL HEALTH INC 394074479 382003718 CASS 14808P109 CASS INFORMATION SYSTEMS ORD Addition 11632449 CASY 147528103 CASEYS GENERAL 43467815 42517491 CAT 149123101 CATERPILLAR INC 738010880 627999622 CB 171232101 CHUBB CORP 326615930 313035206 CBSH 200525103 COMMERCE BANCSHARES INC 104173646 96225120 CBU 203607106 COMMUNITY BANK SYSTEM INC 42046347 41461323 CFR 229899109 CULLEN/FROST BANKERS INC 69961325 64650324 CHD 171340102 CHURCH & DWIGHT CO INC 163998062 162883725 CHRW 12541W209 C H ROBINSON WORLDWIDE INC 188842665 192596705 CINF 172062101 CINCINNATI FINANCIAL CORP 186364186 173400454 CL 194162103 COLGATE-PALMOLIVE CO 555731345 577336719 CLC 179895107 CLARCOR INC 57379567 55254471 CLX 189054109 CLOROX CO 150674551 145758886 COP 20825C104 CONOCOPHILLIPS 1568425809 1561240214 CRR 140781105 CARBO CERAMIC ORD 26458666 24233398 CSL 142339100 CARLISLE COMPANIES INC 70374939 65194508 CTAS 172908105 CINTAS CORPORATION 148184746 137212707 CTBI 204149108 COMMUNITY TRUST BANCORP INC 17609017 16715011 CTL 156700106 CENTURYLINK INC 704172641 Deletion CTWS 207797101 CONNECTICUT WATER SERVICE ORD Addition 9485096 CVX 166764100 CHEVRON CORPORATION 1696919962 1829440705 CWT 130788102 CALIFORNIA WATER SERVICE GROUP (DE) 47693948 48014197 DBD 253651103 DIEBOLD INC 73343743 67381911 DCI 257651109 DONALDSON CO INC 85124062 80866412 DFG 247131105 DELPHI FINANCIAL GROUP CL A ORD Addition 62295167 DOV 260003108 DOVER CORP 211757142 202763710 ECL 278865100 ECOLAB INC 342660812 324444491 ED 209115104 CONSOLIDATED EDISON INC 334556361 354600163 EGN 29265N108 ENERGEN CORP 82336776 77347995 EMR 291011104 EMERSON ELECTRIC 850687006 770768335 EOG 26875P101 EOG RESOURCES ORD 306859074 288630616 EPD 293792107 ENTERPRISE PRODUCTS PARTNERS LP 999729692 940243456 ERIE 29530P102 ERIE INDEMNITY CO 55612862 56754782 ESS 297178105 ESSEX PROPERTY TRUST INC 38629756 38516151 EV 278265103 EATON VANCE CORP 134026580 116896173 EXPD 302130109 EXPEDITORS INTERNATIONAL OF WASHINGTON INC 242268512 225612471 FAST 311900104 FASTENAL CO 337215644 313026052 FDO 307000109 FAMILY DOLLAR STORES INC 137353712 137582003 FDS 303075105 FACTSET RESRCH ORD 52352727 48514773 FELE 353514102 FRANKLIN ELECTRIC CO INC 26476478 23287662 FRT 313747206 FEDERAL REALTY INVESTMENT TRUST (MD) 71744030 70503528 FUL 359694106 FULLER (HB) COMPANY 56289162 47684932 GD 369550108 GENERAL DYNAMICS CORP 413249184 377713629 GGG 384109104 GRACO INC 69509832 64071825 GPC 372460105 GENUINE PARTS CO 179077141 168016091 GRC 383082104 GORMAN-RUPP CO 23974772 21000914 GTY 374297109 GETTY REALTY CORP (NEW) 38146647 Deletion GWW 384802104 GRAINGER (WW) INC 79839790 73097597 HCBK 443683107 HUDSON CITY BANCORP ORD 602574222 Deletion HCC 404132102 HCC INSURANCE HOLDINGS INC 125654586 118712353 HCP 40414L109 HCP INC 465126702 470534828 HGIC 412824104 HARLEYSVILLE GROUP INC (PA) 31031253 Deletion HP 423452101 HELMERICH & PAYNE INC 122325110 115792070 HRL 440452100 HORMEL FOODS CORP 302971629 298195544 HRS 413875105 HARRIS ORD Addition 123355467 HSC 415864107 HARSCO CORP 92199294 Deletion IBM 459200101 INTERNATIONAL BUSINESS MACHINES CORP 985938245 1017234992 IRET 461730103 INVESTORS REAL ESTATE TRUST 115286418 Deletion ITW 452308109 ILLINOIS TOOL WORKS INC 561349893 495206842 JKHY 426281101 JACK HENRY & ASSOCIATES INC 99120079 96945890 JNJ 478160104 JOHNSON & JOHNSON 2807713446 3003660186 JW/A 968223206 WILEY (JOHN) & SONS INC CL A 58673971 56099547 KMB 494368103 KIMBERLY-CLARK CORP 447561939 457047406 KMP 494550106 KINDER MORGAN ENERGY PARTNERS LP 376631235 253106298 KO 191216100 COCA-COLA CO 2622863758 2666723921 LANC 513847103 LANCASTER COLONY CORP 31134316 31013971 LEG 524660107 LEGGETT & PLATT INC 161732277 156757382 LLTC 535678106 LINEAR TECHNOLOGY CORP (UNITED STATES) 264729544 233892124 LOW 548661107 LOWE'S COMPANIES INC 1439918356 1347521474 MATW 577128101 MATTHEWS INTERNATIONAL CORP 33395419 31609876 MCD 580135101 MCDONALD'S CORP 1178584831 1184503473 MCY 589400100 MERCURY GENERAL CORP 62629589 64358474 MDP 589433101 MEREDITH CORP (UNITED STATES) 41350171 41455119 MDT 585055106 MEDTRONIC INC 1206262894 1169431424 MDU 552690109 MDU RESOURCES GROUP INC 215661611 215412136 MGEE 55277P104 MGE ENERGY INC 26403042 27779302 MGRC 580589109 MCGRATH RENTCORP 27827879 25789836 MHP 580645109 MCGRAW-HILL COS INC 335155052 323090659 MKC 579780206 MCCORMICK & CO INC 137334612 135213844 MMM 88579Y101 3M CO 810512902 759509353 MMP 559080106 MAGELLAN MIDSTREAM PARTNERS UNT Addition 132352663 MO 02209S103 ALTRIA GROUP ORD 2366000822 2456587311 MON 61166W101 MONSANTO ORD Addition 533523549 MSA 602720104 MINE SAFETY APPLIANCES CO 41838604 39800681 MSEX 596680108 MIDDLESEX WATER CO 17841028 17672379 MUR 626717102 MURPHY OIL CORP 221052659 205803120 NC 629579103 NACCO INDUSTRIES INC 7765983 7166663 NDSN 655663102 NORDSON CORP 77399939 67293977 NEE 65339F101 NEXTERA ENERGY INC 482012100 495181583 NFG 636180101 NATIONAL FUEL GAS CO (NJ) 94499644 104239510 NJR 646025106 NEW JERSEY RESOURCES CORP 47333480 48390684 NKE 654106103 NIKE CL B ORD Addition 401462393 NNN 637417106 NATIONAL RETAIL PROPERTIES INC 108952635 115022934 NRGY 456615103 INERGY UNT Addition 148945503 NS 67058H102 NUSTAR ENERGY UNT Addition 77333833 NSC 655844108 NORFOLK SOUTHERN ORD Addition 369664713 NST 67019E107 NSTAR ORD 118328612 Deletion NU 664397106 NORTHEAST UTILS ORD 202068125 210583485 NUE 670346105 NUCOR CORP 3.61E+08 330529556 NUS 67018T105 NU SKIN ENTERPRISES CL A ORD Addition 70795660 NWN 667655104 NORTHWEST NATURAL GAS CO 30470308 31053741 O 756109104 REALTY INCOME CORP 152157774 147800275 OFC 22002T108 CORPORATE OFFICE PPTYS TR 82146460 74775118 OMI 690732102 OWENS & MINOR INC NEW 72834765 66612644 ORI 680223104 OLD REPUBLIC INTERNATIONAL CORP 296181116 290130259 OZRK 063904106 BANK OF THE OZARKS INC 39131123 39240483 PAA 726503105 PLAINS ALL AMERICAN PIPELINE UNT 170612791 172023848 PB 743606105 PRSPRTY BNCSHRS 53566550 50858401 PBCT 712704105 PEOPLES UNITED FINANCIAL ORD 430086204 413485784 PBI 724479100 PITNEY BOWES INC 230911371 217719753 PEP 713448108 PEPSICO INC 1785906054 1785378415 PG 742718109 PROCTER & GAMBLE CO 2702625469 3026944373 PH 701094104 PARKER HANNIFIN CORP 172759700 161506878 PII 731068102 POLARIS INDUSTRIES INC 78970236 70236973 PNR 709631105 PENTAIR INC 112822209 101456032 PNY 720186105 PIEDMONT NATURAL GAS CO INC 82442446 85543223 PPG 693506107 PPG INDUSTRIES INC 179935543 165987288 PPL 69351T106 PPL ORD 659971317 701344734 PX 74005P104 PRAXAIR INC 345159938 334657909 RAVN 754212108 RAVEN INDUSTRIES INC 20667026 19710555 RBCAA 760281204 REPUBLIC BANCORP INC (KY) Addition 20006153 RGLD 780287108 ROYAL GOLD ORD Addition 62061605 RLI 749607107 RLI CORP 24071345 23662358 ROP 776696106 ROPER INDUSTRIES INC 109745114 100518145 ROST 778296103 ROSS STORES INC 264100380 238025852 RPM 749685103 RPM INTERNATIONAL INC (DE) 149684912 150036312 SAFM 800013104 SANDERSON FARMS ORD Addition 24661663 SBSI 84470P109 SOUTHSIDE BANCSHARES INC 18791308 19186493 SCG 80589M102 SCANA ORD 146705542 149785856 SCL 858586100 STEPAN CO 11609703 11030380 SEIC 784117103 SEI INVESTMENTS CO 208563114 188898602 SFG 852891100 STANCORP FINCL ORD 50882605 47538286 SHEN 82312B106 SHENANDOAH TELECOMMUNICATIONS 27165398 Deletion SHW 824348106 SHERWIN-WILLIAMS CO 121403768 110604986 SIAL 826552101 SIGMA-ALDRICH CORP (UNITED STATES) 139456465 125035255 SJI 838518108 S JERSEY INDS ORD 34309009 35660722 SJM 832696405 JM SMUCKER CO 130041009 124656861 SJW 784305104 SJW CORP 21221494 21641372 SKT 875465106 TANGER FACTORY OUTLET CENTERS INC 98143166 99184681 SNH 81721M109 SENIOR HOUSING REIT Addition 187914051 SO 842587107 SOUTHERN ORD Addition 1012479611 SON 835495102 SONOCO PRODUCTS CO 114112322 119236949 SPH 864482104 SUBURBAN PROPANE PARTNERS LP 40464765 41393574 SRCE 336901103 1ST SOURCE ORD Addition 27372044 STR 748356102 QUESTAR CORP 202769847 206927566 SWK 854502101 STANLEY BLACK & DECKER ORD 192319445 186140509 SYK 863667101 STRYKER CORP 443592845 409413453 SYY 871829107 SYSCO CORP 673854853 650830434 T 00206R102 AT&T INC 6147475579 6488465008 TCP 87233Q108 TC PIPELINES UNT 61082712 61353756 TDS 879433100 TELEPHONE & DATA SYSTEMS ORD 70110729 108262080 TGT 87612E106 TARGET CORP 771321744 772301235 THFF 320218100 FIRST FINANCIAL CORP (IN) 15023296 14543955 TJX 872540109 TJX COMPANIES INC 4.35E+08 412397894 TMP 890110109 TOMPKINS FINANCIAL CORPORATION Addition 12050780 TNC 880345103 TENNANT CO 21626581 21950429 TR 890516107 TOOTSIE ROLL INDUSTRIES INC 42139919 40550095 TRH 893521104 TRANSATLANTIC HOLDINGS INC 71376131 64920442 TROW 74144T108 T ROWE PRICE GROUP INC 292853764 270876531 UBA 917286205 URSTADT BIDDLE PROPERTIES INC 23861731 22648361 UBSI 909907107 UNITED BANKSHARES INC 57337282 55118310 UFPI 913543104 UNIVERSAL FOREST PRODUCTS INC 22304363 Deletion UGI 902681105 UGI CORP 127715801 137638355 UHT 91359E105 UNIVERSAL HEALTH REALTY INCOME TRUST 14467719 14087290 UMBF 902788108 UMB FINANCIAL CORP 46242223 42276064 UNS 909205106 UNISOURCE ENERGY ORD 4.19E+07 42379819 UTX 913017109 UNITED TECHNOLOGIES CORP 1038035891 970141004 UVV 913456109 UNIVERSAL CORP 26532380 26682970 VAL 920355104 VALSPAR CORP 106760757 98696903 VFC 918204108 VF CORP 125327538 120463360 VGR 92240M108 VECTOR GROUP LTD 90820526 91861832 VIVO 589584101 MERIDIAN BIOSCIENCE 46893556 Deletion VMI 920253101 VALMONT INDS ORD Addition 26686974 VVC 92240G101 VECTREN CORP 93421922 98784302 WABC 957090103 WESTAMERICA BANCORPORATION 32582234 31356020 WAG 931422109 WALGREEN CO 1034273010 960123512 WGL 92924F106 WGL HOLDINGS INC 58601462 60260502 WMT 931142103 WAL-MART STORES INC 3146099150 3180288517 WPC 92930Y107 WP CAREY & CO LLC 45366311 43871012 WRB 084423102 WR BERKLEY ORD Addition 156122598 WRE 939653101 WASHINGTON REAL ESTATE INVESTMENT TRUST 75421573 69745008 WSO 942622200 WATSCO ORD Addition 30931020 WST 955306105 WEST PHARMACEUTICAL SERVICES INC 38465080 36475475 WTR 03836W103 AQUA AMERICA INC 158102168 160652331 XOM 30231G102 EXXON MOBIL CORP 2234817966 2239480524 Additions SO Southern Company (The) MON Monsanto Co. NKE "NIKE, Inc" NSC Norfolk Southern Corp. MMP Magellan Midstream Partners LP WRB WR BERKLEY ORD HRS Harris Corp. NS NuStar Energy L.P. RGLD "Royal Gold, Inc." SNH Senior Housing Properties Trust NUS "NU Skin Enterprises, Inc." NRGY Inergy L.P. DFG "Delphi Financial Group, Inc." VMI "Valmont Industries, Inc." WSO Watsco Inc. SAFM "Sanderson Farms, Inc." SRCE 1st Source Corp. TMP Tompkins Financial Corp RBCAA "Republic Bancorp, Inc. (KY)" CASS Cass Information Systems Inc. AROW Arrow Financial Corp. CTWS "Connecticut Water Service, Inc." Deletions CTL CENTURYLINK INC GTY GETTY RLTY CORP NEW HCBK HUDSON CITY BANCORP HGIC HARLEYSVILLE GROUP INC HSC HARSCO CORP IRET INVESTORS REAL ESTATE TR NST NSTAR SHEN SHENANDOAH TELECOMMUNICATIONS UFPI UNIVERSAL FST PRODS INC VIVO MERIDIAN BIOSCIENCE INC