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By Christina Huynh

More than half of Standard & Poor’s 100 companies had no women or minorities in their highest-paid senior executive positions last year.

That’s according to an analysis released Thursday by Calvert Investments Inc., a Bethesda-based investment management company.

There has been progress in high-level management diversity since Calvert began studying the issue in 2010, but S&P companies have “yet to show real results,” said analyst Christine DeGroot.

While women are hired as often as men, their representation decreases as they move up in an organization, the Calvert report shows. Women constituted 19 percent of board director positions at the S&P 100 but made up only 8 percent of the highest-paid executives.

According to the report, 98 S&P companies had women directors, and 86 companies had minority directors, but only 37 companies had minority women on their board.

Calvert ranked companies based on 10 standards: equal employment opportunity (EEO) policy, internal diversity initiatives, external diversity initiatives, scope of diversity initiatives, family-friendly benefits, EEO-1 disclosure, highest-paid executives, board diversity, director selection criteria and overall corporate commitment.

The five highest-rated companies in diversity progress are: Citigroup Inc.; Merck & Co. Inc.; The Coca-Cola Co.; and JPMorgan Chase & Co.

Two companies based in Greater Washington — Capital One Financial Corp. (NYSE: COF) and Lockheed Martin Corp. (NYSE: LM) — fell in the middle of the rankings.

The five lowest-rated companies were: Berkshire Hathaway Inc., Simon Property Group Inc., National Oilwell Varco Inc., eBay Inc. and Apache Corp.

Calvert analysts said they contacted the bottom five in hopes of gathering more information about their policies and strategies, but the companies did not respond to the inquiry.

“S&P 100 companies deserve modest credit for taking positive steps in the last two years on diversity, but it is important to recognize that much hard work remains to be done,” said Barbara Krumsiek, CEO of Calvert Investments, in a statement. “Absent a real push to put more women on boards and into executive suites, the progress on diversity will end up falling far short of what needs to be done to achieve meaningful and lasting changes in corporate America.”