tag:blogger.com,1999:blog-72623930896846755752024-02-07T01:54:52.218-06:00Dividends PaidGenerating Passive Income Through Dividend InvestingDividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.comBlogger95125tag:blogger.com,1999:blog-7262393089684675575.post-63297904006429113142015-02-03T15:57:00.000-06:002015-02-03T15:57:02.110-06:00Agrium: Significant Dividend Growth Expected For This Agricultural Company<div style="color: #555555; font-family: Georgia, 'Times New Roman', Times, serif; font-size: 16px; line-height: 25px; margin-bottom: 25px; padding: 0px;">
<img alt="" class="alignleft" height="65" kasperskylab_antibanner="on" src="http://upload.wikimedia.org/wikipedia/en/thumb/7/76/Agrium_Logo.svg/200px-Agrium_Logo.svg.png" style="border: 0px; display: block; float: left; height: auto; margin: 0px 25px 25px 0px; max-width: 100%; padding: 0px;" width="200" /></div>
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Agrium Inc. (NYSE:<a href="http://seekingalpha.com/symbol/agu" style="-webkit-transition: color 0.4s ease-in-out; color: #ef7512; margin: 0px; padding: 0px; text-decoration: none; transition: color 0.4s ease-in-out;" title="">AGU</a>), an agricultural products and services company, recently caught our eye when the company <a href="http://www.agrium.com/en/investors/news-releases/2015/agrium-announces-increase-target-dividend-payout-ratio-and-normal" rel="nofollow" style="-webkit-transition: color 0.4s ease-in-out; color: #ef7512; margin: 0px; padding: 0px; text-decoration: none; transition: color 0.4s ease-in-out;">announced</a> several shareholder friendly initiatives. These included raising its dividend payout ratio to 40-50% of free cash flow from its earlier targeted payout of 25-35%, and plans to repurchase up to 5% (around 7.2 million) of its current outstanding shares over the next 12 months. Both of these actions not only increase shareholder value, but also demonstrate management’s optimism for the company’s future.</div>
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Based on the most recent quarterly dividend payment of $0.78, Agrium has an annual dividend payment of $3.12 which translates to a current dividend yield of around 3%. Although the most recent $0.78 dividend payment was just increased from $0.75, that figure represents the payout target of 25-35% and not the newly announced 40-50%. Even assuming the payout ratio moves from the high end of the old (35%) to the low end of the new (40%), investors should be able to expect at minimum an increase of 14% in its quarterly dividend payment. Although that is a solid dividend increase, there is another more powerful dividend growth driver coming in the near future… <strong style="margin: 0px; padding: 0px;"><a href="http://seekingalpha.com/article/2879856-agrium-significant-dividend-growth-expected-for-this-agricultural-company" style="-webkit-transition: color 0.4s ease-in-out; color: #ef7512; margin: 0px; padding: 0px; text-decoration: none; transition: color 0.4s ease-in-out;" target="_blank">READ MORE</a></strong></div>
Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-46678189629545020452014-10-15T14:39:00.001-05:002014-10-15T14:39:55.521-05:00Why Dividends Are The Best Source For Retirement Income<div style="color: #555555; font-family: Georgia, 'Times New Roman', Times, serif; font-size: 16px; line-height: 25px; margin-bottom: 25px; padding: 0px;">
<img alt="" class="alignleft" height="300" kasperskylab_antibanner="on" src="http://irallcpartnerscdn.bestonlineresult.netdna-cdn.com/wp-content/uploads/2013/01/Investment-Choices-225x300.jpg" style="border: 0px; display: block; float: left; height: auto; margin: 0px 25px 25px 0px; max-width: 100%; padding: 0px;" width="225" />Are you currently planning for retirement and wondering what are the best investment options for generating retirement income in your golden years? If you are doing your own investment research you are likely overwhelmed with options and opinions on what is the best way to invest your nest egg. If you are asking your 401k provider or financial adviser for advice then you are probably left with limited mutual fund options that will quietly hit you with <a href="http://www.investopedia.com/university/mutualfunds/mutualfunds2.asp" style="-webkit-transition: color 0.4s ease-in-out; color: #ef7512; margin: 0px; padding: 0px; text-decoration: none; transition: color 0.4s ease-in-out;" target="_blank">fees and expenses</a> and provide you with minimal annual income without resulting in you selling part of your position each year.</div>
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What you won’t hear from the investment community, at least not the investment community that earns a living providing investment advice, is that dividend stocks are king when investing for retirement. There are several reasons why compiling a diversified portfolio of dividend paying stocks is a highly rewarding and low stress option for retirement investing. <a href="http://4percentportfolio.com/dividends-best-source-retirement-income/">READ MORE</a></div>
Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-66962314165922464322014-08-14T14:47:00.000-05:002014-08-14T14:47:12.735-05:00Transocean Dividend Safety Analysis: High Yield, High Risk<div style="color: #555555; font-family: Georgia, 'Times New Roman', Times, serif; font-size: 16px; line-height: 25px; margin-bottom: 25px; padding: 0px;">
<img alt="" class="alignleft" height="52" src="http://upload.wikimedia.org/wikipedia/en/d/d4/Transocean_Logo.png" style="border: 0px; display: block; float: left; height: auto; margin: 0px 25px 25px 0px; max-width: 100%; padding: 0px;" width="241" />Dividend income investors have been taking notice of offshore drillers in the current market as depressed prices in the industry have inflated yields. One of the largest in the industry, Transocean (NYSE:<a href="http://seekingalpha.com/symbol/rig" style="-webkit-transition: color 0.4s ease-in-out; color: #ef7512; margin: 0px; padding: 0px; text-decoration: none; transition: color 0.4s ease-in-out;" title="">RIG</a>), has felt the downward pressure of its stock price as it recently touched on 52 week lows. This drop in price also pushed the current annual yield of the stock above 7%.</div>
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There is great deal of bullish and bearish sentiment surrounding offshore drillers. Bears primarily point to decreasing demand for underwater rigs, increased competition, and significant drops in day rates as compared to their peak levels. Bulls note that this industry is typically cyclical, that many companies still have a strong backlog for their rigs, and that current stock prices present a good value.</div>
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To continue reading this article on Seeking Alpha, please <strong style="margin: 0px; padding: 0px;"><a href="http://seekingalpha.com/article/2423865-transocean-dividend-safety-analysis-high-yield-high-risk" style="-webkit-transition: color 0.4s ease-in-out; color: #ef7512; margin: 0px; padding: 0px; text-decoration: none; transition: color 0.4s ease-in-out;">click here</a></strong>.</div>
<div style="color: #555555; font-family: Georgia, 'Times New Roman', Times, serif; font-size: 16px; line-height: 25px; margin-bottom: 25px; padding: 0px;">
Click <strong style="margin: 0px; padding: 0px;"><a href="http://4percentportfolio.com/analysis/dividend-safety-analysis/" style="-webkit-transition: color 0.4s ease-in-out; color: #ef7512; margin: 0px; padding: 0px; text-decoration: none; transition: color 0.4s ease-in-out;">here </a></strong>to see all of the Dividend Safety Analyses that have been performed.</div>
Joehttp://www.blogger.com/profile/18192227701315625715noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-48030259549993320872013-11-07T16:22:00.001-06:002013-11-07T16:30:05.174-06:00Dividend Safety Analysis: Tobacco Stocks<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifb9SKYLaf0q367FxDMSz3rhCLuJ3KniGjo0XG4RDVWzLgtNiGHPxSRy7JwOpOgZWWaHtNm7CxdiTVAlYDxz2W4g5oQN50rWGyCf4_YbfJg3GZJxsDc4EfrX6G4zGJwRwrdv6kCBvZVxLB/s1600/002-Bar-Chart-Dividend-Stocks.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifb9SKYLaf0q367FxDMSz3rhCLuJ3KniGjo0XG4RDVWzLgtNiGHPxSRy7JwOpOgZWWaHtNm7CxdiTVAlYDxz2W4g5oQN50rWGyCf4_YbfJg3GZJxsDc4EfrX6G4zGJwRwrdv6kCBvZVxLB/s200/002-Bar-Chart-Dividend-Stocks.jpg" width="200" /></a></div>
For anyone looking for income from higher yielding tobacco stocks, the following is a dividend safety analysis I posted on my 4% Portfolio website that covered Lorillard, Altria, British American Tobacco, and Reynolds.<br />
<br />
In a previous dividend safety analysis we took a look at <a href="http://4percentportfolio.com/philip-morris-international-dividend-safety-analysis/" target="_blank">Philip Morris International</a> (PM). Based on feedback from that article, several readers requested that a current dividend safety analysis be done for other tobacco companies as well. In particular, Altria Group Inc. (MO), Reynolds American Inc. (RAI), Lorillard, Inc. (LO), and British American Tobacco plc (BTI). Instead of doing these individually I thought it would be good to see them compared side-by-side in one analysis. <a href="http://4percentportfolio.com/dividend-safety-analysis-tobacco-companies/?utm_source=DP&utm_medium=article&utm_campaign=DP+Tobacco" target="_blank"><b><span style="color: #660000;">READ MORE</span></b></a>Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-14522985955805979372013-10-10T17:00:00.000-05:002013-10-10T17:00:05.551-05:00Analyzing the Safety of a Dividend<a href="http://www.newyorkparkingticket.com/Portals/41340/images//NYPT---Umpire_safe.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="safe" border="0" height="202" src="http://www.newyorkparkingticket.com/Portals/41340/images//NYPT---Umpire_safe.jpg" style="margin-top: 5px;" width="287" /></a>The term “safe” is a relative one. Most people feel safer in their car than on an airplane even though statistics clearly prove the plane is a safer way to travel. Some people don’t feel safe sleeping in an isolated cabin in the woods but have no problems walking down a city street at night. A person’s feeling of safety is defined by their past experiences and observations which determines their own personal comfort within a situation. The same goes for a person’s definition of safe when deciding on making an investment.<br />
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My Grandmother was a child of the Great Depression. She has led a sheltered life and is very careful with her money. I have had no luck trying to convince her that CDs are not a very good investment for generating income. She doesn’t care, she knows they are “safe” as they are FDIC insured. She does not understand that her one year CD earning 1% is actually losing money when you include the effect that the current rate of inflation has on her investment.<br />
Dividend Safety Analysis<br />
<a name='more'></a><br />
In today’s low interest environment prudent investors have turned to dividend stocks to provide them with the income they need. But if someone is investing for the purpose of dividend income, how can they assess the “safety” of that current dividend payment. I have been working on a way to analyze a company’s current dividend and assign a value to the safety of that dividend payment based on financial metrics. This is by no means and end-all be-all way of fully determining a company’s ability to pay its dividend, but it should help shed light on its strengths and identify any potential weaknesses that should be looked into further. Below are the metrics I will look at and the point values assigned to each. <a href="http://4percentportfolio.com/analyzing-the-safety-of-a-dividend/"><b>READ MORE</b></a>Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-44350202395217215592013-09-27T09:47:00.000-05:002013-09-27T09:47:14.347-05:00Inflation Insurance For Your Retirement<div style="color: #555555; font-family: Georgia, 'Times New Roman', Times, serif; font-size: 16px; line-height: 25px; margin-bottom: 25px; padding: 0px;">
<a href="http://4percentportfolio.com/wp-content/uploads/2013/09/inflation.jpeg" style="-webkit-transition: color 0.4s ease-in-out; color: #ef7512; margin: 0px; padding: 0px; text-decoration: none; transition: color 0.4s ease-in-out;"><img alt="inflation insurance retirement portfolio" class="alignleft size-full wp-image-1385" height="276" src="http://4percentportfolio.com/wp-content/uploads/2013/09/inflation.jpeg" style="border: 0px; display: block; float: left; height: auto; margin: 0px 25px 25px 0px; max-width: 100%; padding: 0px;" width="435" /></a>“<em style="margin: 0px; padding: 0px;">Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man</em>.” -Ronald Reagan</div>
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When approaching retirement the main question a retiree will try to answer is “<em style="margin: 0px; padding: 0px;">How much money do I need to cover my annual expenses</em>“. While this is certainly a question that has to be answered, there is another one that must be considered as well – “<em style="margin: 0px; padding: 0px;">What will my annual expenses be in 10, 20, or 30 years?</em>”</div>
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The term “fixed income” is used far too often when discussing retirement investing and planning. Fixed income suggests you should be able to decide today how much income you are going to need each year of retirement. But because of inflation we know that our expenses are not going to be fixed, so we should not plan for our income to be either. If you plan to withdraw the same amount from your retirement account annually then you will be losing purchasing power each year due to inflation. And many people underestimate the effect inflation has on their retirement plans. While we have seen wide swings of the inflation rate with highs above 10% in the late 70′s and early 80′s, the general rule of thumb is to plan for an annual rate of 3%. So how does that 3% affect your spending power over time? <a href="http://4percentportfolio.com/inflation-insurance-for-your-retirement/" target=""><b>READ MORE</b></a></div>
Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-42740512025054217802013-09-17T17:00:00.000-05:002013-09-17T17:00:05.689-05:00Ka-Ching! Microsoft Just Gave Me a 22% Raise<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYV9x8_qaY7T-xW2lOfQswg9LCkE0HXV7ILGCrRCmz-o89OgfV-9GMHq-m3xsYNlqES6Pnehk8wLLmXGt8lybpRYs1RPU4HiWTldVj4apPpeeAeeGzVbr5l1fcsgcQbZYHHj3xsGmaS5se/s1600/Cash+Register.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYV9x8_qaY7T-xW2lOfQswg9LCkE0HXV7ILGCrRCmz-o89OgfV-9GMHq-m3xsYNlqES6Pnehk8wLLmXGt8lybpRYs1RPU4HiWTldVj4apPpeeAeeGzVbr5l1fcsgcQbZYHHj3xsGmaS5se/s320/Cash+Register.jpg" width="320" /></a></div>
Microsoft (<a href="http://finance.yahoo.com/q?s=MSFT" rel="nofollow" target="_blank">MSFT</a>) today announced a 22% increase of its quarterly dividend from $0.22 to $0.28 which now gives the stock a 3.4% dividend yield. They also announced a $40 billion stock buyback program that replaces a previous buyback program that was set to expire. Both of these actions demonstrate MSFT's determination to return value to shareholders through other means than price appreciation.<br />
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This increase more than doubles an investors Yield on Cost for those who were invested in 2010 when the company was paying a quarterly dividend of $0.13. That is an impressive feat in such small amount of time.<br />
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<a name='more'></a>So how has MSFT managed to do this? Well for one, they have an incredible<b> $76.2 billion </b>in cash on hand as well as a low debt to total capital of just 17%. MSFT has built one of the strongest financial positions of any company in the word. Its massive cash flow, low debt, and excellent Bond rating make it an incredibly safe dividend stock. Much has been made recently about the decline of the PC, but it still outsells any other OS by a wide margin. <div>
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There are several catalysts that should help MSFT continue to grow its dominant position including an anticipated new release of Windows 8, a new Xbox gaming console, increases in mobile market share with its buyout of Nokia, and an expected technology refresh by corporations to replace outdated laptops and desktops. MSFT has proven the past decade that they are dedicated to rewarding shareholders through steady and increasing dividend payments and I have full confidence there will be another sizable increase come this time next year.<br />
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<span style="font-family: inherit;"><b style="background-color: white; line-height: 18px;"><span style="color: #660000;">Disclosure</span></b><span style="background-color: white; line-height: 18px;">: I am long MSFT.</span></span><br />
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<span style="background-color: white; line-height: 18px;"><span style="font-family: inherit;"><i>Are you a retiree looking to generate retirement income without having to sell a portion of your investments each year? The 4% Portfolio is showing investors how to do just that. The portfolio is <b>currently yielding 4.4%</b> <b>and three of its stocks have already raised their dividend </b>since the portfolio's inception. Learn more about the 4% Portfolio <a href="https://4percentportfolio.com/about/why-4/" target="_blank"><b><span style="color: blue;">here</span></b></a></i></span></span></div>
Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-58719784687707640012013-09-10T14:00:00.000-05:002013-09-10T14:00:20.184-05:005 Safe Dividend Stocks When Using The 4% Rule<div class="separator" style="clear: both; text-align: center;">
<a href="http://4percentportfolio.com/wp-content/uploads/2013/07/4-Percent-FB1.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="http://4percentportfolio.com/wp-content/uploads/2013/07/4-Percent-FB1.png" /></a></div>
<h2>
The 4% Rule</h2>
<div>
The 4% rule is a general rule of thumb used by financial experts to
determine how much individuals should be withdrawing from their
retirement account each year. This is considered a safe and sustainable
rate for a retiree with a long life expectancy.<br />
</div>
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<div>
In a high interest rate environment, generating 4% of income from
your retirement nest egg could be achieved. With today’s low bond,
Treasury Bill, CD, and money market rates, retirees have been forced to
use other alternatives. These alternatives typically require investors
to reduce their retirement savings each year. Or they rely on mutual
fund investments to attempt to increase their portfolio and provide
income and yet, they are not aware of the <a href="http://www.demos.org/publication/retirement-savings-drain-hidden-excessive-costs-401ks" target="_blank">fees </a>being
accrued no matter the rate of success or failure of the mutual
fund. Although the 401(k) and mutual funds were created to benefit the
investor, financial companies are the ones who have truly been rewarded.<br />
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In the past decade retired investors have had to weather two economic
recessions, a mortgage crisis, and a highly volatile stock market.
Those planning for an upcoming retirement have likely heard the horror
stories of retirement accounts getting wiped out during this time
causing many retirees to re-enter the workforce in order to get
by. This has created a great deal of timid investors wary of risking
their life savings in the stock market, but still searching for a way to
generate a safe and reliable income stream. <a href="https://4percentportfolio.com/5-safe-dividend-stocks-when-using-4-percent-rule/" target="_blank"><b><span style="color: #660000;">READ MORE</span></b></a></div>
Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-5915558647248139732013-08-27T17:00:00.000-05:002013-08-27T17:00:06.966-05:00Introducing The 4% Portfolio<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3HpFbJnNSXhLcVCXzeXh9KaLK322IAywmw-LqsFWgPBHeWTVyGW7BRqBoiupUH5pyLJhmUoweb9yiv5JOfUHk2A0Nm2FFWIC_Y_Nzj7K5Jr8yn7xxfQPMLpUYNHb7QHzo-BaPGY4yavLZ/s1600/4+Percent+Google+%252B.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="153" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3HpFbJnNSXhLcVCXzeXh9KaLK322IAywmw-LqsFWgPBHeWTVyGW7BRqBoiupUH5pyLJhmUoweb9yiv5JOfUHk2A0Nm2FFWIC_Y_Nzj7K5Jr8yn7xxfQPMLpUYNHb7QHzo-BaPGY4yavLZ/s200/4+Percent+Google+%252B.png" width="200" /></a></div>
I have been working very hard the past six months on a new site that is designed to help retirees build a retirement portfolio for themselves. This website provides a more intelligent way for retirees to follow the <b>4% Rule </b>without having to sell stock or reduce their overall retirement savings each year. I am very proud to introduce to you <a href="http://4percentportfolio.com/" target="_blank"><b><span style="color: blue;">The 4% Portfolio</span></b></a><br />
<br />
The 4% Portfolio allows individual investors to take control of their retirement accounts.
The 4% Portfolio provides a smarter, simpler and less stressful solution to retirement
investing and is designed around the following ideals.<br />
<div class="th-list th-list-check">
<ul>
<li>Earn at least 4% in income each year through dividend payments without having to reduce your portfolio balance.</li>
<li>Invest only in safe, established companies with strong financial histories.</li>
<li>Increase the investor’s income each year through dividend raises.</li>
<li>Reduce volatility within your portfolio.</li>
<li>Reduce or eliminate worries about price fluctuations.</li>
<li>Eliminate the reliance on price appreciation to fund your retirement.</li>
<li>Eliminate paying high fees to the big financial corporations.</li>
</ul>
<div>
<a name='more'></a><br /></div>
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<h2>
Stop Worrying About Price Fluctuations</h2>
With the 4% Portfolio, retirees don’t have to fret about day-to-day
price fluctuations of their investments. By carefully selecting
companies with sustainable growing dividends and long histories of
dividend payments, an increase or decrease in overall price becomes much
less of a concern. If a stock’s price drops 20% but its dividend
remains constant, that price drop has no affect on the dividend income
being produced by the stock. A stock’s dividend is much easier to
predict than its price and a dividend exists independent of the market
price.
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<br />
<h2>
You Shouldn't Have To Sell To Generate Income</h2>
Everyone has heard the old adage “<em>the rich get richer</em>“. This
is an obvious observation and there is a simple reason behind it. They
are able to get “richer” because once they have amassed their fortune
they can easily live off the income that fortune produces without
touching the principle. This is the same philosophy people should follow
when they retire. You should not be reducing your principle each year,
you should be living off of what it produces. The 4% Portfolio shows you
how to accomplish this.
<br />
<br />
<h2>
Diversified Portfolio</h2>
Diversification is key to reducing risk. The 4% Portfolio is made up of stocks across<strong> 8 sectors</strong> and nearly <strong>20 industries</strong>.
We do not limit the portfolio to stocks that are typically higher
dividend payers such as utilities or Real Estate Investment Trusts
(REITs). We choose a broad spectrum of companies in order to maximize
the portfolio’s diversification and reduce its overall risk.<br />
<br />
<h2>
Inflation Protection</h2>
If
you plan to withdraw the same amount from your retirement account
annually then you will be losing purchasing power each year due to
inflation. Inflation can be a serious threat to your retirement and you
need an effective way to fight that threat. That’s why the 4% Portfolio
focuses on choosing companies that not only have a history of paying a
dividend, but also a history of increasing their dividend each year.
These increases will help protect your portfolio from inflation each
year and allow you to continue to enjoy the standard of living you come
to expect.<br />
<br />
<h2>
Avoid High Mutual Fund Fees</h2>
<div class="th-quote left">
"Fees can, on average, reduce your 401(k) balance <a href="http://www.demos.org/publication/retirement-savings-drain-hidden-excessive-costs-401ks" rel="nofollow" target="_blank">by up to 30%</a>." Do
you know how much you’re paying in fees? The average actively managed
mutual fund carries an annual expense of 1.3%. That is 1.3% of your
balance <strong>EVERY YEAR</strong>, regardless of how well or poor the fund’s performance. Are fees draining your retirement portfolio?</div>
<div class="th-list th-list-alert">
<ul>
<li>Are you aware that you are even paying these fees? An <a href="http://www.aarp.org/work/retirement-planning/info-02-2011/401k-fees-awareness-11.html" rel="nofollow" target="_blank">AARP study</a> on 401(k) participants revealed that “71% reported that they did not think they pay any fees.”</li>
<li>Did you know that if you have $500,000 in your 401(k), you are likely paying <strong>at least $6,500 in fees</strong> each year.</li>
<li>And aside from a fund’s stated fee, your 401(k) likely has other
hidden fees such as trading costs, investment management
fees, administrative fees, and marketing fees all of which you are
unlikely aware.</li>
</ul>
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<h2>
Continued Support</h2>
Investing for your retirement can be a scary and confusing process.
We’re here to make it easier. If you need to rollover your current
401(k) to an IRA, we’re here to help and answer questions. Once you have
invested by utilizing our Portfolio, we will keep you updated on those
stocks each month. We will continue to analyze each company when they
report earnings and, if necessary, recommend adjustments to the
portfolio based off our analysis.<br />
<br />
Let us help you take control of your retirement. From now until Oct 1 I am offering a <span style="color: red;"><b>50% discount</b></span> to dividendspaid.com readers. Just use the coupon code <b>DIVIDENDSPAID </b>when you sign up for either the monthly or annual subscription.<br />
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I welcome any comments or questions you may have so feel free to <a href="http://4percentportfolio.com/contact/" target="_blank"><b><span style="color: blue;">contact me</span></b></a>. And fret not, I intend to continue with dividendspaid and hope to have more original content in the near future now that the new site is complete. I will also be sharing any original content from The 4% Portfolio on this site as well.<br />
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TAGS: [4% rule] [retirement portfolio] [retirement income]</div>
</div>
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</ul>
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Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com2tag:blogger.com,1999:blog-7262393089684675575.post-19924277924995783192013-07-30T17:00:00.000-05:002013-07-30T17:00:05.459-05:00Forget Yield -- Dividend Growth Is The Metric That Matters For Retirement Income<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9j0zUqFdy-2GZ9U_RbK3vUvlWaOPM0FvD_rj7hlp58oQk1CiH1Wm-PBzj57RJMtQ4m9jlBs0bOOsioYETY6-MwT6eS73AcjLbo1nX21nQAiu4ck1w9hKJ9JBkN9IlUBCxjH_CmqO0ED2d/s1600/Increase.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9j0zUqFdy-2GZ9U_RbK3vUvlWaOPM0FvD_rj7hlp58oQk1CiH1Wm-PBzj57RJMtQ4m9jlBs0bOOsioYETY6-MwT6eS73AcjLbo1nX21nQAiu4ck1w9hKJ9JBkN9IlUBCxjH_CmqO0ED2d/s1600/Increase.gif" /></a></div>
Income investors had a little scare in May and June. Bond prices took a tumble and dragged down assets that have come to be viewed as bond substitutes—including popular dividend-paying stocks, MLPs and REITs.<br />
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Now that the dust has settled and the income markets have regained some semblance of normalcy, let’s take a step back and review the case for income stocks. With the Fed’s quantitative easing eventually coming to an end and with bond yields likely to rise in the years ahead, does it still make sense to look to the stock market for income? Or might investors be better off buying and rolling over a bond ladder to meet their income needs? <a href="http://www.forbes.com/sites/moneybuilder/2013/07/30/forget-yield-dividend-growth-is-the-metric-that-matters-for-retirement-income/" rel="nofollow" target="_blank"><b>READ MORE</b></a><br />
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<b><span style="color: #660000;">Disclosure</span></b>: Long O, WMT<br />
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TAGS: [O] [WMT] [JNJ]Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-56009333652340961582013-07-19T17:00:00.000-05:002013-07-19T17:00:04.379-05:00Dividend Investors Should Ignore Price Fluctuations<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTKmxqW5q1QBCVqXjAXyDqAV9fYwrlD1x32eUvVt8WxObFSXOg6PiqfJ8a6JOE2izfK7X0WsufdCidS0_pECcahYbeQj3mHNhe2QCC__LH7MM-aRsWTCSPzRHc9yWliZ01ZDzLrU3tufJq/s1600/chart.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTKmxqW5q1QBCVqXjAXyDqAV9fYwrlD1x32eUvVt8WxObFSXOg6PiqfJ8a6JOE2izfK7X0WsufdCidS0_pECcahYbeQj3mHNhe2QCC__LH7MM-aRsWTCSPzRHc9yWliZ01ZDzLrU3tufJq/s1600/chart.jpg" /></a></div>
<span style="background-color: white; color: #333333; font-family: Georgia, serif; font-size: 13px; line-height: 20.796875px;">In this day and age we are bombarded with stock market information anywhere we go. You can find stock prices on many TV channels, newspapers, the internet and mobile phones or tablets. This excess of information creates information overload which creates the urge to buy and sell stocks in nanoseconds. This could prove hazardous to your wealth however. Research has shown that investors who actively trade the markets generate lower returns that index funds. In fact, investors would be better suited to just ignore price fluctuations and simply focus on fundamentals. <b><a href="http://www.dividendgrowthinvestor.com/2013/07/dividend-investors-should-ignore-price.html" target="_blank">READ MORE</a></b></span><br />
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<span style="background-color: white; font-family: Georgia, serif; font-size: 13px; line-height: 20.796875px;"><b><span style="color: #660000;">Disclosure</span></b><span style="color: #333333;">: Long WMT, MCD,ABT</span></span><br />
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<span style="background-color: white; font-family: Georgia, serif; font-size: 13px; line-height: 20.796875px;"><span style="color: #333333;">TAGS: </span></span><span style="background-color: white; color: #333333; font-family: Georgia, serif; font-size: 13px; line-height: 20.796875px;">[KO] [WMT] [MCD] [JNJ] [ABT] [PG]</span>Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-68078065860450499552013-06-27T17:00:00.000-05:002013-06-27T17:00:04.683-05:00Dividend Growth Investing is a Perfect Strategy for Young Investors<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDNAztMC64CAI83p9oOky24zNeiLIwF7nSHRM9Hpu4y0qXHTNIa3i8mHunojAZ-MAzhb8KsLTaNFO6hdhYvHyhZbQrk5ae1-H5g21eiZilDq1EtERaIzBwUVJkUsxG4KTHaholALBY5rrU/s320/Monopoly+Dividend+Paid.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDNAztMC64CAI83p9oOky24zNeiLIwF7nSHRM9Hpu4y0qXHTNIa3i8mHunojAZ-MAzhb8KsLTaNFO6hdhYvHyhZbQrk5ae1-H5g21eiZilDq1EtERaIzBwUVJkUsxG4KTHaholALBY5rrU/s320/Monopoly+Dividend+Paid.JPG" /></a></div>
Imagine your perfect day. You wake up when you are rested, without the need of any alarm clocks. You then do some working out , followed by having a nice healthy breakfast. You then read at your leisure, have a lunch later in the day to beat the 11:30 – 1 pm crowds, and then review your brokerage accounts. You notice dividends from several companies are deposited today, and you decide to transfer them to your checking account. You check for any major items concerning your portfolio holdings, and spend a few hours researching a new dividend stock.<br />
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After that you get more time to concentrate on your activities, be it volunteering at the local homeless shelter, mentoring high school students, learning a new language or simply catching up on some good books. Later that day, you might decide to enjoy a few with your mates/gals. This dream is brought to you by dividend investing. <a href="http://www.dividendgrowthinvestor.com/2013/06/dividend-growth-investing-is-perfect.html" target="_blank"><b>READ MORE</b></a><br />
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<b><span style="color: #660000;">Disclosure</span></b>: I am long KMR<br />
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TAGS: [KMI] [KO] [PM] [PG] [JNJ] [KMR]Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-48816881089973110612013-06-18T17:00:00.000-05:002013-06-18T17:00:03.580-05:00Dividend Income is More Stable than Capital Gains<div class="separator" style="clear: both; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXld2bhcKpb_3MxawGE1OKIhG_Wk1nl97kD6FyIOeaN7LzvAK0AxpMWP2c3VuCQDYYfsHw8ct1n37juwE_q-L2Fy-Ht4yjbzQCfIG9XSnYRVB6K-f8VvPvf4-HRzuDL-MhyaptuiXzB7OV/s1600/stock-analysis-lrg.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXld2bhcKpb_3MxawGE1OKIhG_Wk1nl97kD6FyIOeaN7LzvAK0AxpMWP2c3VuCQDYYfsHw8ct1n37juwE_q-L2Fy-Ht4yjbzQCfIG9XSnYRVB6K-f8VvPvf4-HRzuDL-MhyaptuiXzB7OV/s1600/stock-analysis-lrg.jpg" /></a></div>
<span style="font-family: inherit;"><span style="color: #333333; line-height: 19px;">Over the past century stocks have delivered a 10% annual total return on average. The total return consists of price appreciation and dividend payments. The issue with average returns is that over the past century, there are only a few occasions where stocks clocked in annual returns of somewhere close to 10% in a given year. In reality, some years these returns have been much more than 10%, whereas in other years these returns have been less than 10%. As a result, investors should be warned that these 10% in annual returns are not a sure thing every year. </span><b style="line-height: 19px;"><a data-mce-href="http://www.dividendgrowthinvestor.com/2013/06/dividend-income-is-more-stable-than.html" href="http://www.dividendgrowthinvestor.com/2013/06/dividend-income-is-more-stable-than.html" rel="nofollow" style="line-height: 19px;" target="_blank">READ MORE</a></b></span><br />
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<b><span style="color: #660000;">Full Disclosure</span></b>: Long WMT, KMR, O<br />
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TAGS: [MCD] [WMT] [CVX] [KMR] [O]Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-4188194247274099102013-05-22T17:00:00.000-05:002013-05-22T17:00:07.398-05:007 Banking Stocks To Buy For Current Yield And Future Dividend Growth<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjoIyTDFomnTEmQZKcetVyBN5F_cmXOIdpgqfOIGq_cvjV5lALOmL4gOTpNRZuRT8LGSkVrnmWFIt3vMhi3x9W32pUnf_OElK6QjmKbgfPZXh2UWSyQBDiBb8cgOqcSqS3si_F1ynJMg_yw/s1600/Bank+Stocks.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjoIyTDFomnTEmQZKcetVyBN5F_cmXOIdpgqfOIGq_cvjV5lALOmL4gOTpNRZuRT8LGSkVrnmWFIt3vMhi3x9W32pUnf_OElK6QjmKbgfPZXh2UWSyQBDiBb8cgOqcSqS3si_F1ynJMg_yw/s320/Bank+Stocks.jpg" width="320" /></a></div>
<span style="background-color: white; color: #333333; font-family: verdana, arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 20px;">In 2007 the financial sector was responsible for $51 billion in dividend payments to shareholders. By 2010, that amount had decreased to just $19 billion. The mortgage crisis forced many banks to cut or even suspend dividend payments. Returning the clock to present day, it is hard not to get excited about the potential for bank stocks in the current market. The Financial Sector ETF (</span><a href="http://seekingalpha.com/symbol/xlf" style="background-color: white; border: 0px; font-family: verdana, arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 20px; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline;" title=""><span style="color: #660000;">XLF</span></a><span style="background-color: white; color: #333333; font-family: verdana, arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 20px;">) has gained nearly 20% since the beginning of the year. The majority of banks are passing the government mandated "stress tests" and dividend payments are increasing on a regular basis once again. <b><a href="http://seekingalpha.com/article/1454181-7-banking-stocks-to-buy-for-current-yield-and-future-dividend-growth" target="_blank">READ MORE</a></b></span><br />
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<span style="font-family: verdana, arial, helvetica, clean, sans-serif; font-size: x-small;"><span style="line-height: 20px;"><b><span style="color: #660000;">TAGS</span></b><span style="color: #333333;">: [BMO] [BNS] [FLIC] [JPM] [SASR] [TD] [WFC] [PNC]</span></span></span>Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-46732433812398925912013-05-07T17:30:00.000-05:002013-05-07T17:30:01.851-05:00 A Reminder Of Why You Stick With Dividend Stocks<div class="separator" style="clear: both; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXld2bhcKpb_3MxawGE1OKIhG_Wk1nl97kD6FyIOeaN7LzvAK0AxpMWP2c3VuCQDYYfsHw8ct1n37juwE_q-L2Fy-Ht4yjbzQCfIG9XSnYRVB6K-f8VvPvf4-HRzuDL-MhyaptuiXzB7OV/s1600/stock-analysis-lrg.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXld2bhcKpb_3MxawGE1OKIhG_Wk1nl97kD6FyIOeaN7LzvAK0AxpMWP2c3VuCQDYYfsHw8ct1n37juwE_q-L2Fy-Ht4yjbzQCfIG9XSnYRVB6K-f8VvPvf4-HRzuDL-MhyaptuiXzB7OV/s1600/stock-analysis-lrg.jpg" /></a></div>
<i>Sorry for the long delay since my last post. I've been very busy and I've had little time to dedicate to original posts of my own. I'm slowly working on analyzing additional banking stocks to consider for my dividend growth portfolio and hope to have that completed soon. In the meantime, here is a Seeking Alpha article from an author I've enjoyed reading.</i><br />
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One of the unfortunate side effects of buying an overvalued stock is that, almost by definition, there will be a period of time in which the total return rate that the investor enjoys will likely trail the growth rate of the firm (provided prices are rational and do not transition from "overvalued" to "more overvalued"). This fact can make it worthwhile to pose the following question: If I currently own a stock that is trading above a price that I would be willing to pay to purchase additional shares, what is the point of continuing to hold it? <b><a href="http://seekingalpha.com/article/1378771-a-reminder-of-why-you-stick-with-dividend-stocks" target="_blank">READ MORE</a></b><br />
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<span style="color: #660000;"><b>Disclosure</b></span>: I have no position in the stocks mentioned in this article<br />
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<b><span style="color: #660000;">TAGS</span></b>: [CVX] [JNJ] [PG] [XOM]Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-46228710253928979422013-04-12T17:00:00.000-05:002013-04-12T17:00:04.728-05:00Banking Stocks Continue to Improve<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9j0zUqFdy-2GZ9U_RbK3vUvlWaOPM0FvD_rj7hlp58oQk1CiH1Wm-PBzj57RJMtQ4m9jlBs0bOOsioYETY6-MwT6eS73AcjLbo1nX21nQAiu4ck1w9hKJ9JBkN9IlUBCxjH_CmqO0ED2d/s1600/Increase.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9j0zUqFdy-2GZ9U_RbK3vUvlWaOPM0FvD_rj7hlp58oQk1CiH1Wm-PBzj57RJMtQ4m9jlBs0bOOsioYETY6-MwT6eS73AcjLbo1nX21nQAiu4ck1w9hKJ9JBkN9IlUBCxjH_CmqO0ED2d/s1600/Increase.gif" /></a></div>
Back in late 2011 I decided it was time to invest in banks again. The affects of the mortgage crisis had finally took a turn for the better and banks' financials were improving. TARP funds were being paid back, lending was opening back up, and most importantly dividend payments were increasing again. I wrote about <a href="http://seekingalpha.com/article/300872-4-bank-stocks-with-future-dividend-potential" target="_blank"><b>four bank stocks with future dividend potential</b></a>, and due to the research from that article I decided to take a chance on PNC Financial Services Group, Inc. (<a href="http://finance.yahoo.com/q?s=PNC" target="_blank"><b>PNC</b></a>).<br />
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Since then, PNC hasn't rewarded me much in price appreciation, but it has rewarded me in dividend increases. Last year PNC <a href="http://www.dividendspaid.com/2012/04/ka-ching-pnc-just-gave-me-14-raise.html" target="_blank"><b>gave investors a 14% raise</b></a>. This past week it increased its dividend payment again by 10%. The new payout gives PNC a yield around 2.7%.<br />
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<a name='more'></a>This of course is another positive sign that PNC's financials are strong. Current government regulations prevent banks from raising their dividends unless they are able to pass certain stress tests that were designed to see how well a bank would survive if the economy went through another deep recession.<br />
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Within the banking industry I believe PNC is a strong dividend growth prospect and represents a good value at current prices. I'd like to diversify further within the industry and invest in another bank that is showing similar financial strength as PNC. I intend to do some screens in the near future and put together a more detailed analysis of other banking investment options we have. I believe the dividend increases will continue within the industry along with stock price appreciation. The financial sector will likely be the biggest benefactor if the economy continues to improve.<br />
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<b><span style="color: #660000;">Disclosure</span></b>: I am long PNC.<br />
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<b><span style="color: #660000;">Related Articles</span></b>:<br />
<a href="http://seekingalpha.com/article/300872-4-bank-stocks-with-future-dividend-potential">http://seekingalpha.com/article/300872-4-bank-stocks-with-future-dividend-potential</a><br />
<a href="http://www.dividendspaid.com/2012/04/ka-ching-pnc-just-gave-me-14-raise.html">http://www.dividendspaid.com/2012/04/ka-ching-pnc-just-gave-me-14-raise.html</a>Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-8967781594484633692013-04-03T17:00:00.000-05:002013-04-03T17:00:02.730-05:00Phillips 66 Upcoming MLP: How It Will Affect PSX<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjPIXhvQ8OcUVVQCX5TwCFnZmMrlkzVrHZq8a-uYX9e842lasZwnq2CKIyMjCZT1_p5dJTHhiO4cf7CU_-ycHVhA11eqhLI_55ND_eX2Q81kbDH9Es3qHgfxzkyXcrrMWSXJdCK-9VrpO4N/s1600/phillips-66-logo.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjPIXhvQ8OcUVVQCX5TwCFnZmMrlkzVrHZq8a-uYX9e842lasZwnq2CKIyMjCZT1_p5dJTHhiO4cf7CU_-ycHVhA11eqhLI_55ND_eX2Q81kbDH9Es3qHgfxzkyXcrrMWSXJdCK-9VrpO4N/s1600/phillips-66-logo.jpg" /></a></div>
Phillips 66 (<b><a href="http://finance.yahoo.com/q?s=PSX" target="_blank">PSX</a></b>) has been on a tear since splitting from ConocoPhillips (<b><a href="http://finance.yahoo.com/q?s=COP" target="_blank">COP</a></b>) last year. Aside from its run-up in price, it has also <a href="http://www.dividendspaid.com/2013/01/ka-ching-phillips-66-just-gave-me.html" target="_blank"><b>raised its dividend for three straight quarters</b></a> as well as announced plans to spin-off certain assets into a Master Limited Partnership (<a href="http://www.dividendspaid.com/2012/07/boring-terms-we-need-to-know-master.html" target="_blank"><b>MLP</b></a>).<br />
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All of this of course was great news, but I wanted to know about the details of the MLP spin-off. What assets were going to be included in the new company? Will existing shareholders receive shares of this new company, or will it benefit through holding stock in PSX? Well PSX recently shed some light on these questions.<br />
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<a name='more'></a>My main concern was whether existing shareholders would receive shares of the MLP spin-off, Phillips 66 Partners LP (<b>PSXP</b>). I hold PSX in my Roth IRA which are <a href="http://www.dividendspaid.com/2012/11/mlps-and-retirement-accounts.html" target="_blank"><b>not conducive for holding MLPs</b></a>, so if I would receive shares of the new MLP I would likely have to sell it immediately. Luckily that is not the case.<br />
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<b><span style="color: #660000;">Benefits</span></b><br />
The parent company will retain the majority of shares in the newly formed PSXP. For us dividend growth investors that is good news and I believe will benefit us in several ways:<br />
<ol>
<li>PSX will receive PSXP's distributions, which will be tax-advantaged due to its MLP structure, and will be able to pass a large percentage of those distributions on to existing shareholders. This should help PSX continue to increase its dividend.</li>
<li>Although existing PSX shareholders will benefit from these additional distributions, we get to avoid the tax headaches of owning a MLP.</li>
<li>PSX does not have to rely solely on itself to generate growth to fund dividend increases. Any growth achieved by PSXP should increase the distributions of the MLP which will directly affect PSX and its shareholders.</li>
</ol>
<b><span style="color: #660000;">Assets</span></b><br />
The assets that will fall under the Phillips 66 Partners entity include:<br />
<ul>
<li>Clifton Ridge crude oil pipeline</li>
<li>Terminals and storage in Louisiana, Illinois, and Texas</li>
<li>Sweeny to Pasadena refined products pipeline</li>
<li>Hartford Connector refined products pipeline</li>
<li>3 NGL fractionators: 130,000 bpd capacity </li>
</ul>
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The initial public offering is expected in the second half of this year and is estimated to raise $300 million. As demonstrated in the COP spin-off and subsequent dividend increases, PSX management has proven its ability to create additional shareholder value. I believe the PSXP spin-off will be another great move.<br />
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<b>Disclosure</b>: I am long COP and PSX.<br />
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TAGS: [COP] [PSX] [PSXP]Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com2tag:blogger.com,1999:blog-7262393089684675575.post-66350251876677686222013-03-27T17:00:00.000-05:002013-03-27T17:00:03.877-05:002 Big Dividends to Avoid (and 1 to Embrace)<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXld2bhcKpb_3MxawGE1OKIhG_Wk1nl97kD6FyIOeaN7LzvAK0AxpMWP2c3VuCQDYYfsHw8ct1n37juwE_q-L2Fy-Ht4yjbzQCfIG9XSnYRVB6K-f8VvPvf4-HRzuDL-MhyaptuiXzB7OV/s1600/stock-analysis-lrg.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXld2bhcKpb_3MxawGE1OKIhG_Wk1nl97kD6FyIOeaN7LzvAK0AxpMWP2c3VuCQDYYfsHw8ct1n37juwE_q-L2Fy-Ht4yjbzQCfIG9XSnYRVB6K-f8VvPvf4-HRzuDL-MhyaptuiXzB7OV/s1600/stock-analysis-lrg.jpg" /></a></div>
<i>The following post comes from the Motley Fool. It serves as a nice reminder that bigger is not always better when looking at dividend yield.</i><br />
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With yields on ultra-safe debt stuck in the gutter, many investors are reaching for higher income through dividend-paying stocks. That's a fine strategy -- as long as you're comfortable with the extra risks involved.<br />
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To minimize those risks, you won't want to reach too high. Dividend yields that are more than about 4%, for example, are usually worth extra research. You'll also want to screen for dividends that are backed up by strong earnings and sales growth. Ideally, those dividends will have a good chance of rising -- or at least staying put. <a href="http://www.fool.com/investing/general/2013/03/22/2-big-dividends-to-avoid-and-1-to-embrace.aspx" target="_blank"><b><span style="color: blue;">READ MORE</span></b></a>Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-34618839720445421372013-03-13T17:00:00.000-05:002013-03-14T08:50:25.073-05:00My Annual Roth IRA Rant<div class="separator" style="clear: both; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAEMJrv5I5DoTUa8_FaVAxQ-p7a8rSEOLZEk8jx0JwdysTD2juhYO-6RkgZpKUr9fI0ZG9hmasgc2rhZieQcPstNBD9DMOSIlMJEq8VN0Z0Zn3rzDMf4DkFCC-f1hExPhNw-138FwVX6t1/s1600/Yelling.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="248" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAEMJrv5I5DoTUa8_FaVAxQ-p7a8rSEOLZEk8jx0JwdysTD2juhYO-6RkgZpKUr9fI0ZG9hmasgc2rhZieQcPstNBD9DMOSIlMJEq8VN0Z0Zn3rzDMf4DkFCC-f1hExPhNw-138FwVX6t1/s320/Yelling.jpg" width="320" /></a></div>
It's tax time. Time for everyone to get a fresh reminder that Uncle Sam is a greedy old fart who takes away a lot of your money. Oh, and next year most of you will be paying even more. Are you ok with that? I should hope not, but don't fret there is a way to fight back. Invest your money in a Roth IRA.<br />
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Those of you who have followed me know I'm a huge proponent of Roth IRAs and dividend stocks. It gives me great pleasure to receive dividend payments in my Roth IRA account, reinvest those dividends to utilize the compounding affect, and not have to worry about paying a cent to the IRS.<br />
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<a name='more'></a>If you are already taking advantage of a Roth IRA, nice job. Pat yourself on the back and drink a cold beer to celebrate sticking it to the "man". For those of you who are still on the fence or are dragging your feet, let's address why you're making a huge mistake.<br />
<ol>
<li>Taxes are probably going to go up. Even if you think your tax rate will go down when you retire, it surely isn't going to zero. And that's what your rate will be for any money withdrawn from your Roth IRA.</li>
<li>Time = Money. Dividend growth investing is a way to "get rich slow". For those of you who have a hard time waiting, investing money into a Roth will force you to slow down since you cannot withdraw from it until your are 60. The younger you are, the more time you get to enjoy that compounding affect that will make you wealthier. But don't worry, if you absolutely need to withdraw money from your Roth you can...</li>
<li>You can withdraw your original investment amount without penalty if necessary. Let's say I've invested $10,000 in my Roth so far. It has grown to $15,000 but I have an emergency and need some cash quick. I can withdraw up to my original contribution ($10,000) from my Roth without a tax penalty.</li>
<li>Those poor souls who "make to much" to invest in a Roth. Don't worry, the <b><span style="color: blue;"><a href="http://www.dividendspaid.com/2012/03/roth-ira-backdoor.html" target="_blank"><span style="color: blue;">backdoor</span></a> </span></b>is still open for 2013.</li>
<li>Roth IRAs have no required minimum distribution (RMD) during the owner’s lifetime. These are only required after the Roth IRA owner dies and only for non-spouse beneficiaries. You withdraw as much or little as you want.</li>
</ol>
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Hopefully that is enough to convince you. If not, then allow me to brag a little as I have found that jealousy is a great motivator. I've been maxing out my Roth for several years now. The amount has grown to nearly $40,000. In 2012 I made about $1,500 in tax free dividend income. Because I reinvest my dividends and invest in companies that raise their dividend each year that amount is only going up. I have 25 years of dividend reinvesting and compounding until I retire. Assuming a very conservative annual dividend and stock growth rate of 6%, my Roth IRA will be worth around $418,000 and paying almost $14,000 in dividend income when I retire. A less conservative 8% rate of return will yield a portfolio worth around $680,000 and pay $22,000 in dividend income. A plausible 10% rate will make me a millionaire with $1,105,000 portfolio value and $35,600 in dividend income. All of which will be<b> tax free</b>. </div>
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So hopefully I got your attention. If this has convinced you, I recommend not wasting anymore time. Remember that you have until April 15 to contribute 2012 dollars. And there are income limits and contribution limits that you should be familiar with before contributing. These can be found here: <b><span style="color: blue;"><a href="http://www.irs.gov/publications/p590/ch02.html"><span style="color: blue;">http://www.irs.gov/publications/p590/ch02.html</span></a> </span></b></div>
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For those of you just getting started in opening a Roth IRA account, I recommend <a href="http://track.linkoffers.net/a.aspx?foid=3473725&fot=9999&foc=1" target="_blank"><b><span style="color: blue;">Sharebuilder.com</span></b></a><br />
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In this world nothing can be said to be certain, except death and taxes. At least there is something you can do about that latter.</div>
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<b><span style="color: #660000;">Related Posts:</span></b></div>
<div>
<a href="http://www.dividendspaid.com/2011/10/roth-ira-dividend-stocks-awesome.html" target="_blank"><span style="color: blue;">Roth IRA + Dividend Stocks = Awesome!</span></a></div>
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<a href="http://www.dividendspaid.com/2012/11/mlps-and-retirement-accounts.html" target="_blank"><span style="color: blue;">MLPs and Retirement Accounts</span></a></div>
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<a alt="ShareBuilder $100 Promo" href="http://track.linkoffers.net/a.aspx?foid=3473725&fot=9999&foc=2&foc2=590771" rel="nofollow" target="_blank" title="ShareBuilder $100 Promo"><img border="0" src="http://content.linkoffers.net/SharedImages/Products/163483/590771.gif" /></a>Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-56571655971211246802013-02-25T17:30:00.000-06:002013-02-25T17:30:01.353-06:00My Favorite Thing About Dividend Stocks<div class="separator" style="clear: both; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDNAztMC64CAI83p9oOky24zNeiLIwF7nSHRM9Hpu4y0qXHTNIa3i8mHunojAZ-MAzhb8KsLTaNFO6hdhYvHyhZbQrk5ae1-H5g21eiZilDq1EtERaIzBwUVJkUsxG4KTHaholALBY5rrU/s1600/Monopoly+Dividend+Paid.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDNAztMC64CAI83p9oOky24zNeiLIwF7nSHRM9Hpu4y0qXHTNIa3i8mHunojAZ-MAzhb8KsLTaNFO6hdhYvHyhZbQrk5ae1-H5g21eiZilDq1EtERaIzBwUVJkUsxG4KTHaholALBY5rrU/s1600/Monopoly+Dividend+Paid.JPG" /></a></div>
Other than the wonderful compounding affect that will make me a wealthier man when I retire, the thing I enjoy most about dividend stocks is that they allow me to be lazy. Granted I do put in a lot of time evaluating a stock before I invest, but once I buy a quality dividend growth company I can relax while that company's employees work hard to put more and more cash in my pocket.<br />
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I was on a nice, relaxing vacation last week. I checked in on the market a couple of times out of curiosity and even checked my work email once, but otherwise my mind was elsewhere. I didn't want to think about work and ruin a relaxing moment. I knew I didn't have to worry about my investments because my money was invested in companies who are working hard on my behalf. And wouldn't you know it, when I returned home I discovered that, KA-CHING!, I got two more fat raises.<br />
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<a name='more'></a>Wal-Mart (<a href="http://finance.yahoo.com/q?s=wmt" target="_blank"><b><span style="color: blue;">WMT</span></b></a>) increased its dividend by a whopping 17.5%. This is one of their largest increases in their impressive dividend history that dates back nearly 40 years. “<i>We are pleased to increase Walmart’s dividend by $0.29 per share, one of the largest increases in our history</i>,” said Mike Duke, Walmart president and chief executive officer. “<i>Our global businesses consistently generate strong free cash flow, providing ample opportunities to fund growth across all our markets and to deliver strong returns to shareholders. In fact, during fiscal year 2013, we returned $13 billion to shareholders in the form of dividends and share repurchases."</i><br />
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WMT's quarterly payout increased from $0.40 to the new $0.47 giving an annual dividend of $1.88. WMT is currently yielding around 2.70%.<br />
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Kimberly-Clark (<a href="http://finance.yahoo.com/q?s=kmb" target="_blank"><b><span style="color: blue;">KMB</span></b></a>) also provided a nice raise to its investors, increasing its dividend by 9.5%. This marks 41st consecutive year KMB has increased its dividend. "<i>This dividend increase reflects not only the strength of our business but also our commitment to allocate capital in shareholder-friendly ways</i>," said Thomas J. Falk, chairman and chief executive officer. "<i>We continue to provide a top-tier dividend payout among our peer consumer packaged goods companies, and this remains an important component of our plan to deliver strong returns to shareholders</i>."<br />
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KMB's quarterly payout increased from $0.74 to $0.81 giving an annual dividend of $3.24. KMB is currently yielding around 3.5%.<br />
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In the past month my portfolio has already had five dividend increases, ranging from 9.5% to 25% with an average of 16.4%. That's an impressive start to 2013 and hopefully a sign for my other holdings.<br />
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Although WMT and KMB are two core holdings in my portfolio, I don't view them as great buys at current valuations. For those looking for a solid buy, I still consider Intel (<a href="http://finance.yahoo.com/q?s=intc" target="_blank"><b><span style="color: blue;">INTC</span></b></a>) as one of the best values out there and it remains my largest holding. I am also looking to add to my position in Amgen (<a href="http://finance.yahoo.com/q?s=amgn" target="_blank"><b><span style="color: blue;">AMGN</span></b></a>) based on<span style="color: blue;"><b> <a href="http://seekingalpha.com/article/1102011-a-potential-dividend-growth-future-star" target="_blank"><span style="color: blue;">my recent analysis</span></a></b></span>.<br />
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<b><span style="color: #660000;">Disclosure</span></b>: I am long WMT, KMB, INTC and AMGN<br />
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<b><span style="color: #660000;">Related Posts</span></b>:<br />
<a href="http://www.dividendspaid.com/2013/02/ka-ching-hasbro-just-gave-me-11-raise.html" target="_blank"><span style="color: blue;">Ka-Ching! Hasbro just gave me an 11% raise</span></a><br />
<span style="color: blue;"><a href="http://www.dividendspaid.com/2013/01/ka-ching-phillips-66-just-gave-me.html" target="_blank"><span style="color: blue;">Ka-Ching! Phillips 66 just gave me (another) 25% raise</span></a></span><br />
<a href="http://www.dividendspaid.com/2013/01/ka-ching-realty-income-just-gave-me-19.html" target="_blank"><span style="color: blue;">Ka-Ching! Realty Income just gave me a 19% raise</span></a><br />
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TAGS: [WMT] [KMB] [INTC] [AMGN]Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-52022716345758130772013-02-11T17:00:00.000-06:002013-02-11T17:00:06.670-06:00Ka-Ching! Hasbro just gave me an 11% raise<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYV9x8_qaY7T-xW2lOfQswg9LCkE0HXV7ILGCrRCmz-o89OgfV-9GMHq-m3xsYNlqES6Pnehk8wLLmXGt8lybpRYs1RPU4HiWTldVj4apPpeeAeeGzVbr5l1fcsgcQbZYHHj3xsGmaS5se/s1600/Cash+Register.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYV9x8_qaY7T-xW2lOfQswg9LCkE0HXV7ILGCrRCmz-o89OgfV-9GMHq-m3xsYNlqES6Pnehk8wLLmXGt8lybpRYs1RPU4HiWTldVj4apPpeeAeeGzVbr5l1fcsgcQbZYHHj3xsGmaS5se/s320/Cash+Register.jpg" width="320" /></a></div>
<span style="font-family: inherit;">Yep, another one. Three straight weeks of double digit dividend increases. Getting tired of these? I know I'm not! </span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">Hasbro (<a href="http://finance.yahoo.com/q?s=HAS" target="_blank"><span style="color: blue;"><b>HAS</b></span></a>) announced last week that it would be increasing its quarterly dividend by 11% from $.36 to $.40. The size of this increase is likely a surprise to many since the company reported a decrease in full-year revenue and earnings for 2012 vs 2011. Despite the drop management still had no problems with making such a large increase which I believe should be viewed as a positive for 2013 and beyond.</span><br />
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When <span style="font-family: inherit;"><a href="http://seekingalpha.com/article/691591-hasbro-dividend-income-analysis-current-yield-presents-a-buying-opportunity" target="_blank"><b><span style="color: blue;">I first analyzed Hasbro</span></b></a> </span>last June and decided to buy I was able to get in just before the stock price popped. Many investors would have been thrilled at the immediate price increase, but honestly I was hoping for the price to come back down so I could buy more on the cheap. My original buy price was under $33<span style="font-family: inherit;"> which now gives me a<span style="background-color: white; line-height: 18px;"> </span><a href="http://www.dividendspaid.com/2011/09/boring-terms-we-need-to-know-yield-on.html" style="background-color: white; color: #f67b85; line-height: 18px; text-decoration: initial;" target="_blank"><span style="color: blue;"><b>yield on cost</b></span></a><span style="background-color: white; line-height: 18px;"> </span></span>of almost 5.0% for my original investment. My only other purchases since then has been the automatic dividend reinvestments.<br />
<a name='more'></a><br />
When I analyzed Hasbro I noted that there didn't need to be earnings growth to justify an increase in their dividend due to their free cash flow payout and debt to total capital numbers. The new fiscal year is an important one for Hasbro though as I believe they need to establish growth once again to justify another double digit dividend increase. Future increases will likely be more tied to the overall earnings growth. The company has implemented a cost-savings plan that will deliver "$100 million in annual savings by 2015” according to their CEO Brian Goldner. The success of this cost-savings plan will likely have a direct affect on the size of future dividend increases as well.<br />
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With the recent dividend increase Hasbro is again yielding 4% at current prices. Investors looking for income in that range should feel safe investing at current valuation. Dividend growth investors should feel comfortable getting in a current levels as well, but its likely that future increases will be more tied to earnings growth than increases in the<a href="http://www.dividendspaid.com/2011/10/boring-terms-we-need-to-know-dividend.html" target="_blank"><span style="color: blue;"> <b>payout ratio</b></span></a>.<br />
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<b><span style="color: #660000;">Disclosure</span></b>: I am long HAS<br />
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<span style="font-family: inherit;"><b style="background-color: white; line-height: 18px;"><span style="color: #660000;">Related Articles:</span></b></span><br />
<div style="background-color: white; line-height: 18px;">
<span style="color: blue; font-family: inherit;"><a href="http://www.dividendspaid.com/2013/01/ka-ching-realty-income-just-gave-me-19.html" style="text-decoration: initial;" target="_blank">Ka-Ching! Realty Income just gave me a 19% raise</a><br /><a href="http://www.dividendspaid.com/2012/10/ka-ching-phillips-66-just-gave-me-25.html" target="_blank">Ka-ching! Phillips 66 Just Gave Me a 25% Raise</a><br /><a href="http://www.dividendspaid.com/2012/10/ka-ching-aflac-just-gave-me-6-raise.html" style="text-decoration: initial;" target="_blank">Ka-ching! AFLAC Just Gave Me a 6% Raise</a><br /><a href="http://www.dividendspaid.com/2012/09/ka-ching-microsoft-just-gave-me-15-raise.html" style="text-decoration: initial;" target="_blank">Ka-ching! Microsoft Just Gave Me a 25% Raise</a><br /><a href="http://www.dividendspaid.com/2012/05/ka-ching-intel-corp-just-gave-me-7.html" style="text-decoration: initial;" target="_blank">Ka-Ching! Intel Just Gave Me A 7% Raise</a></span></div>
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TAGS: [HAS]</div>
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Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-75340723033877819122013-02-06T17:00:00.000-06:002013-02-06T17:00:04.572-06:002013 Dividend Aristocrats<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjXDJj8ZCw8F6CJO4wZzjQVn9uYBTE2NG-_KOSSUvs4cGiwjVanrXj0hTWC_TPBpEt3X8LWoFyo2DULhp7PpJo7EgFBctoBPUEZxazB8y-rlKYBBnY7OCs5yzHJ8cWvbgheRtMe1Zz8pFqn/s1600/dividend-aristocrats.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjXDJj8ZCw8F6CJO4wZzjQVn9uYBTE2NG-_KOSSUvs4cGiwjVanrXj0hTWC_TPBpEt3X8LWoFyo2DULhp7PpJo7EgFBctoBPUEZxazB8y-rlKYBBnY7OCs5yzHJ8cWvbgheRtMe1Zz8pFqn/s200/dividend-aristocrats.jpg" width="127" /></a></div>
The Dividend Aristocrats list is an excellent starting point for dividend growth investors to begin their research. In order to make this list a company needs to be in the S&P 500 (top 500 publicly listed companies by market capitalization) AND it needs to have increased its dividend payout for at least 25 consecutive years. You won't find the likes of Apple (<a href="http://finance.yahoo.com/q?s=aapl" target="_blank"><span style="color: blue;">AAPL</span></a>), Google (<a href="http://finance.yahoo.com/q?s=goog" target="_blank"><span style="color: blue;">GOOG</span></a>), or General Electric (<a href="http://finance.yahoo.com/q?s=ge" target="_blank"><span style="color: blue;">GE</span></a>) on this list as they have yet to prove themselves worthy. Actually, GE was on the list until it had to cut its dividend in 2009.<br />
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These are the elite dividend payers, the cream of the crop. Investors who have been fortunate enough to hold these companies over the long-term are significantly wealthier and will likely be enjoying future dividend increases yet again this year.<br />
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There are three new inductees to this prestigious club in 2013 thanks to their 25th consecutive dividend increase.<br />
<a name='more'></a><br />
Chevron (<a href="http://finance.yahoo.com/q?s=cvx" target="_blank"><span style="color: blue;">CVX </span></a>) - A global integrated oil company with interests in exploration, production, refining and marketing, and petrochemicals. Current yield: 3.1%<br />
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Cardinal Health (<a href="http://finance.yahoo.com/q?s=cah" target="_blank"><span style="color: blue;">CAH</span></a>)- A leading wholesale distributors of pharmaceuticals, medical/surgical supplies and related products to a broad range of health care customers. Current yield: 2.5%</div>
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Pentair (<a href="http://finance.yahoo.com/q?s=pnr" target="_blank"><span style="color: blue;">PNR</span></a>) - A diversified industrial manufacturing company specializing in water and fluid controls. Current yield: 1.8%<br />
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Here is the entire list for 2013. I would encourage dividend growth investors, no matter how much or little experience you have, to use this list as a starting point for your research. These companies have already proven they are dedicated to rewarding their shareholders with an increasing dividend payout. Their dividend culture is established and something they are likely proud of, so it would take a significant economic event for them to change their ways. Just keep in mind that just because a company is listed here doesn't mean that its a good buy at current prices.<br />
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<b><span style="font-family: Arial;">2013 Dividend Aristocrats</span></b></div>
</td>
</tr>
<tr style="height: 12.75pt;">
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<b><span style="color: black; font-family: Calibri;">TICKER</span></b></div>
</td>
<td nowrap="" style="background: #FFCC99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal" style="text-align: center;">
<b><span style="color: black; font-family: Calibri;">COMPANY</span></b></div>
</td>
<td nowrap="" style="background: #FFCC99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal" style="text-align: center;">
<b><span style="color: black; font-family: Calibri;">SECTOR </span></b></div>
</td>
</tr>
<tr style="height: 12.75pt;">
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<span style="font-family: Arial;">ABBV</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">AbbVie
Inc.</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Health
Care</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">ABT</span></div>
</td>
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<span style="font-family: Arial;">Abbott
Laboratories</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Health
Care</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">ADM</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Archer-Daniels-Midland</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">ADP</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Automatic
Data Proc</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Information
Technology</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">AFL</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">AFLAC Inc</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Financials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">APD</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Air
Products & Chemicals </span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Materials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">BCR</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Bard
(C.R.)</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Health
Care</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">BDX</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Becton,
Dickinson</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Health
Care</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">BEN</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Franklin</span><span style="font-family: Arial;"> Resources</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Financials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">BF.B</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Brown-Forman'B'</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">BMS</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Bemis Co</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Materials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">CAH</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Cardinal
Health Inc</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Health
Care</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">CB</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Chubb
Corp</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Financials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">CINF</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Cincinnati</span><span style="font-family: Arial;"> Financial</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Financials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">CL</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Colgate-Palmolive</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">CLX</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Clorox Co</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">CTAS</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Cintas
Corp</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Industrials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">CVX</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Chevron
Corp</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Energy</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">DOV</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Dover
Corp</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Industrials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">ECL</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Ecolab
Inc</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Materials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">ED</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Consolidated
Edison</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Utilities</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">EMR</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Emerson Electric</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Industrials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">FDO</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Family
Dollar Stores</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Discretionary</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">GPC</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Genuine
Parts</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Discretionary</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">GWW</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Grainger
(W.W.)</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Industrials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">HCP</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">HCP Inc</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Financials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">HRL</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Hormel
Foods</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">ITW</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Illinois</span><span style="font-family: Arial;"> Tool Works</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Industrials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">JNJ</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Johnson
& Johnson</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Health
Care</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">KMB</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Kimberly-Clark</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">KO</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Coca-Cola
Co</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">LEG</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Leggett
& Platt</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Discretionary</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">LOW</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Lowe's Cos</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Discretionary</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">MCD</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">McDonald's
Corp</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Discretionary</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">MDT</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Medtronic,
Inc</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Health
Care</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">MHP</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">McGraw-Hill
Companies</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Discretionary</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">MKC</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">McCormick
& Co</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">MMM</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">3M Co</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Industrials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">NUE</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Nucor
Corp</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Materials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">PEP</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">PepsiCo
Inc</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">PG</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Procter
& Gamble</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">PNR</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Pentair
Ltd.</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Industrials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">PPG</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">PPG Indus</span> </div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Materials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">SHW</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Sherwin-Williams</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Materials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">SIAL</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Sigma-Aldrich</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Materials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">SWK</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Stanley</span><span style="font-family: Arial;"> Black & Decker</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Discretionary</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">SYY</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Sysco
Corp</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">T</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">AT&T </span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Telecommunication
Services</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">TGT</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Target
Corp</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Discretionary</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">TROW</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">T.Rowe
Price Group</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Financials</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">VFC</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">VF Corp</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Discretionary</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">WAG</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Walgreen
Co</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">WMT</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Wal-Mart
Stores</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Consumer
Staples</span></div>
</td>
</tr>
<tr style="height: 12.75pt;">
<td nowrap="" style="background: #FFFF99; border-top: none; border: solid windowtext 1.0pt; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 35.25pt;" valign="bottom" width="47"><div class="MsoNormal">
<span style="font-family: Arial;">XOM</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 121.7pt;" valign="bottom" width="162"><div class="MsoNormal">
<span style="font-family: Arial;">Exxon
Mobil</span></div>
</td>
<td nowrap="" style="background: #FFFF99; border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 12.75pt; padding: 0in 5.4pt 0in 5.4pt; width: 137.05pt;" valign="bottom" width="183"><div class="MsoNormal">
<span style="font-family: Arial;">Energy</span></div>
</td>
</tr>
</tbody></table>
</div>
<br />
<b style="background-color: white; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;"><span style="color: #660000;">Disclosure</span></b><span style="background-color: white; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;">: </span><span style="background-color: white; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;">I am long ABBV, ABT, AFL, KMB, MCD, and WMT</span>Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-56508566183904750222013-01-31T17:00:00.000-06:002013-02-01T09:28:54.704-06:00Ka-Ching! Phillips 66 just gave me (another) 25% raise<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYV9x8_qaY7T-xW2lOfQswg9LCkE0HXV7ILGCrRCmz-o89OgfV-9GMHq-m3xsYNlqES6Pnehk8wLLmXGt8lybpRYs1RPU4HiWTldVj4apPpeeAeeGzVbr5l1fcsgcQbZYHHj3xsGmaS5se/s1600/Cash+Register.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYV9x8_qaY7T-xW2lOfQswg9LCkE0HXV7ILGCrRCmz-o89OgfV-9GMHq-m3xsYNlqES6Pnehk8wLLmXGt8lybpRYs1RPU4HiWTldVj4apPpeeAeeGzVbr5l1fcsgcQbZYHHj3xsGmaS5se/s320/Cash+Register.jpg" width="320" /></a></div>
Another week and another big raise, but this came from an unexpected stock, Phillips 66 (<a href="http://finance.yahoo.com/q?s=PSX" target="_blank"><span style="color: blue;">PSX</span></a>). Why was it unexpected? Well because they already gave me a <a href="http://www.dividendspaid.com/2012/10/ka-ching-phillips-66-just-gave-me-25.html" target="_blank"><span style="color: blue;">25% raise three months ago</span></a>!<br />
<br />
PSX has been on an impressive run since it split away from its parent company ConocoPhillips (<a href="http://finance.yahoo.com/q?s=COP" target="_blank"><span style="color: blue;">COP</span></a>). Not only has it raised its dividend three straight quarters and over 50% since it began trading earlier this year, its stock price has also increased by more than 75%. Those would be impressive numbers for a stock over several years, let alone several months. So how has PSX managed to do this in such a short time? <br />
<br />
<a name='more'></a>PSX has three primary business segments. <br />
<br />
<ol>
<li>Oil Refineries - PSX has processing plants where crude oil is processed and refined into more useful products such as gasoline, diesel fuel, asphalt base, heating oil, kerosene, and liquefied petroleum gas.</li>
<li>Midstream - Gathering, transporting, and storing oil and natural gas. The company’s principal midstream asset is its 50% stake in DCP Midstream Partners LP (<a href="http://finance.yahoo.com/q?s=DPM" target="_blank"><span style="color: blue;">DPM</span></a>).</li>
<li>Chemicals - Their chemical company, CPChem, is a producer of olefins and polyolefins, and a leading supplier of aromatics and styrenics (whatever those are). CPChem, is a 50-50 joint venture between Chevron (<a href="http://finance.yahoo.com/q?s=CVX" target="_blank"><span style="color: blue;">CVX</span></a>) and Phillips 66 </li>
</ol>
The majority of their business falls in the refinery section, and this is where they are making a lot of money. Refinery companies have typically in the past made a small percentage on the products they produce from the cost of the oil they bring in. In the current environment though, that percentage (profit margin) has increased. They are bringing in cheaper oil due to high domestic production growth, which is allowing them to make more on the refined products they sell. This is a very basic explanation, if you wish to learn more I suggest you research "brent crude vs wti".<br />
<br />
With these big gains from their refinery business PSX's management has been able to comfortably increase its dividend and fund an additional $1 billion into its stock repurchase program. How long will the cost difference that benefits the refinery exist? Hard to say, but I don't think management would risk increasing the dividend if it could not be easily covered in the future under slimmer profit margins.<br />
<br />
PSX has also announced that it will spin-off some of its midstream business into a <a href="http://www.dividendspaid.com/2012/07/boring-terms-we-need-to-know-master.html" target="_blank"><span style="color: blue;">MLP</span></a>. CEO Greg Garland stated “We expect to use the master limited partnership as an efficient vehicle to fund growth investments in the transportation and midstream sectors. We believe the proposed MLP will enable us to enhance value for our shareholders and increase the transparency of our business.” Details are still scarce on this spin-off, in particular what assets will be included, but this could be another shrewd and profitable move by management.<br />
<br />
PSX began trading last year at $34 paying a quarterly dividend of $.20 with an effective annual yield of 2.3%. After the back-to-back dividend raises ($.20 -> $.25 -> $.3125) my <a href="http://www.dividendspaid.com/2011/09/boring-terms-we-need-to-know-yield-on.html" target="_blank"><span style="color: blue;">yield on cost</span></a> has already increased to 3.7%. I certainly don't expect the pace and size of these increases to continue, and I imagine management will soon move to an annual dividend increase policy. But I'm not going to complain if they have a few more of these surprises up their sleeves.<br />
<br />
<b style="background-color: white; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;"><span style="color: #660000;">Disclosure</span></b><span style="background-color: white; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;">: </span>I am long PSX and COP<br />
<br />
<b style="font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;"><span style="color: #660000;">Related Articles:</span></b><br />
<div>
<span style="font-family: inherit;"><span style="line-height: 18px;"><a href="http://www.dividendspaid.com/2013/01/ka-ching-realty-income-just-gave-me-19.html" target="_blank">Ka-Ching! Realty Income just gave me a 19% raise</a></span></span><br />
<span style="font-family: inherit;"><span style="line-height: 18px;"><a href="http://www.dividendspaid.com/2012/10/ka-ching-phillips-66-just-gave-me-25.html" target="_blank">Ka-ching! Phillips 66 Just Gave Me a 25% Raise</a></span></span><br />
<span style="font-family: inherit;"><a href="http://www.dividendspaid.com/2012/10/ka-ching-aflac-just-gave-me-6-raise.html" target="_blank">Ka-ching! AFLAC Just Gave Me a 6% Raise</a></span><br />
<span style="font-family: inherit;"><span style="line-height: 18px;"><a href="http://www.dividendspaid.com/2012/09/ka-ching-microsoft-just-gave-me-15-raise.html" target="_blank">Ka-ching! Microsoft Just Gave Me a 25% Raise</a></span></span><br />
<span style="font-family: inherit;"><span style="line-height: 18px;"><a href="http://www.dividendspaid.com/2012/05/ka-ching-intel-corp-just-gave-me-7.html" target="_blank">Ka-Ching! Intel Just Gave Me A 7% Raise</a></span></span><br />
<span style="font-family: inherit;"><span style="line-height: 18px;"><a href="http://www.dividendspaid.com/2012/07/boring-terms-we-need-to-know-master.html" target="_blank">Boring Terms: MLP</a></span></span><br />
<span style="font-family: inherit;"><span style="line-height: 18px;"><a href="http://www.dividendspaid.com/2011/09/boring-terms-we-need-to-know-yield-on.html" target="_blank">Boring Terms: Yield on Cost</a></span></span></div>
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<span style="background-color: white;">TAGS: [PSX] [COP] [CVX] [DPM]</span></div>
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<a alt="Give the Gift of Stock with ShareBuilder.com!" href="http://track.linkoffers.net/a.aspx?foid=3473724&fot=9999&foc=2&foc2=575983" rel="nofollow" target="_blank" title="Give the Gift of Stock with ShareBuilder.com!"><img border="0" src="http://content.linkoffers.net/SharedImages/Products/162576/575983.gif" /></a>Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-85492087165151239132013-01-24T17:00:00.000-06:002013-01-24T17:00:09.469-06:00Ka-Ching! Realty Income just gave me a 19% raise<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYV9x8_qaY7T-xW2lOfQswg9LCkE0HXV7ILGCrRCmz-o89OgfV-9GMHq-m3xsYNlqES6Pnehk8wLLmXGt8lybpRYs1RPU4HiWTldVj4apPpeeAeeGzVbr5l1fcsgcQbZYHHj3xsGmaS5se/s1600/Cash+Register.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYV9x8_qaY7T-xW2lOfQswg9LCkE0HXV7ILGCrRCmz-o89OgfV-9GMHq-m3xsYNlqES6Pnehk8wLLmXGt8lybpRYs1RPU4HiWTldVj4apPpeeAeeGzVbr5l1fcsgcQbZYHHj3xsGmaS5se/s320/Cash+Register.jpg" width="320" /></a></div>
Realty Income Corp. (<a href="http://finance.yahoo.com/q?s=O" target="_blank"><span style="color: blue;">O</span></a>) announced last week that it will be increasing its monthly dividend from $0.15175 per share to $0.1809167 (<i>yeah, that's a lot of numbers beyond the decimal</i>). This is a whopping increase of 19.2% and gives Realty an effective annual yield of 5%, up from 4.2%.<br />
<br />
So how did a company with a 5 year average dividend growth rate of under 3% manage to make such a large increase? Realty's recent successful bid to acquire American Realty Capital Trust (<a href="http://finance.yahoo.com/q?s=ARCT" target="_blank"><span style="color: blue;">ARCT</span></a>) allowed them to make such a move. The buyout was announced this past summer, but shareholders of ARCT were not happy with the initial offer. It took some sweetening on Realty's end to get the job done, including a one-time cash payment of $0.35 / share to ARCT investors, but the overall deal looks like a good one for Realty shareholders.<br />
<br />
<a name='more'></a>Typically when one company buys out another it takes a little time for the benefit to be seen in the combined company's bottom line. This is not the case with Realty and ARCT. Since Realty and ARCT are <a href="http://www.dividendspaid.com/2012/04/boring-terms-we-need-to-know-reit.html" target="_blank"><span style="color: blue;">REITs</span></a>, we are not as concerned with the company's net income as we are with Funds From Operations (FFO). FFO is a REIT's version of <span style="color: blue;"><a href="http://www.dividendspaid.com/2011/12/boring-terms-we-need-to-know-cash-flow.html" target="_blank"><span style="color: blue;">cash flow</span></a> </span>and the ARCT deal immediately increases Realty's FFO which allows for the large increase in the dividend.<br />
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Another reason I like this deal is that it was funded with the issuance of Realty stock (other than the additional $0.35 cash payment) rather than debt. ARCT shareholders received 0.2874 shares of Realty Income stock for each share of ARCT common stock owned. So even though Realty increased the number of shares outstanding by 45.6 million shares, it was still able to increase its monthly dividend paid to each of those shares by 19.2%. That is an incredible deal for Realty and a no-brainer for management.<br />
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The additional FFO isn't the only thing that ARCT brings to Realty. ARCT owns 515 commercial properties which are net-leased primarily to investment-grade (financially sound) tenants. Some of ARCT's biggest tenants include FedEx (<a href="http://finance.yahoo.com/q?s=fdx" target="_blank"><span style="color: blue;">FDX</span></a>), Walgreen (<a href="http://finance.yahoo.com/q?s=wag" target="_blank"><span style="color: blue;">WAG</span></a>), CVS (<a href="http://finance.yahoo.com/q?s=cvs" target="_blank"><span style="color: blue;">CVS</span></a>), the Government Services Administration, Dollar General (<a href="http://finance.yahoo.com/q?s=dg" target="_blank"><span style="color: blue;">DG</span></a>), Express Scripts (<a href="http://finance.yahoo.com/q?s=esrx" target="_blank"><span style="color: blue;">ESRX</span></a>) and PNC Bank (<a href="http://finance.yahoo.com/q?s=pnc" target="_blank"><span style="color: blue;">PNC</span></a>).<br />
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Including these new properties, Realty Income will own a total of 3,528 properties leased to 202 tenants doing business in 48 industries. Approximately 34% of the anticipated lease revenue will be generated by investment grade rated tenants, vs 19% prior to the ARCT acquisition. These new tenants also increase the diversification of Realty's tenants among more companies and industries.<br />
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This past summer I had <a href="http://www.dividendspaid.com/2012/07/roth-ira-move-sold-some-o-to-buy-has.html" target="_blank"><span style="color: blue;">sold part of my position in Realty</span></a> to initiate a position in Hasbro (<a href="http://finance.yahoo.com/q?s=has" target="_blank"><span style="color: blue;">HAS</span></a>). The reason I had done this was because, at the time, Realty appeared to be overvalued and their dividend growth rate was violating my <a href="http://www.dividendspaid.com/2011/11/when-do-we-sell.html" target="_blank"><span style="color: blue;">Rule #4</span></a>. Needless to say the recent acquisition and dividend increase has reaffirmed by belief in Realty and I have no intention of selling any more of my position in the near future. The stock is still valued higher than most of its peers based on several metrics, but with deals like the ARCT buyout management has proven that it is a top-tier REIT and should be valued as such.<br />
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<b><span style="color: #660000;">Disclosure</span>:</b> I am long O<br />
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<b><span style="color: #660000;">Related Articles:</span></b><br />
<a href="http://www.dividendspaid.com/2012/07/roth-ira-move-sold-some-o-to-buy-has.html"><span style="color: blue;">Sold Some O to buy HAS</span></a><br />
<a href="http://www.dividendspaid.com/2012/04/boring-terms-we-need-to-know-reit.html"><span style="color: blue;">Boring Terms: REIT</span></a><br />
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TAGS: [O] [ARCT] [FDX] [WAG] [CVS] [DG] [ESRX] [PNC] [HAS]<br />
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<a alt="Give the Gift of Stock with ShareBuilder.com!" href="http://track.linkoffers.net/a.aspx?foid=3473724&fot=9999&foc=2&foc2=575983" rel="nofollow" target="_blank" title="Give the Gift of Stock with ShareBuilder.com!"><img border="0" src="http://content.linkoffers.net/SharedImages/Products/162576/575983.gif" /></a>Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0tag:blogger.com,1999:blog-7262393089684675575.post-1833589286675956512013-01-22T17:00:00.000-06:002013-01-22T17:22:24.546-06:00The Best Investment Advice You'll Never Take<div class="separator" style="clear: both; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXld2bhcKpb_3MxawGE1OKIhG_Wk1nl97kD6FyIOeaN7LzvAK0AxpMWP2c3VuCQDYYfsHw8ct1n37juwE_q-L2Fy-Ht4yjbzQCfIG9XSnYRVB6K-f8VvPvf4-HRzuDL-MhyaptuiXzB7OV/s1600/stock-analysis-lrg.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXld2bhcKpb_3MxawGE1OKIhG_Wk1nl97kD6FyIOeaN7LzvAK0AxpMWP2c3VuCQDYYfsHw8ct1n37juwE_q-L2Fy-Ht4yjbzQCfIG9XSnYRVB6K-f8VvPvf4-HRzuDL-MhyaptuiXzB7OV/s1600/stock-analysis-lrg.jpg" /></a></div>
<i>Some of you may have heard of or even subscribe to the daily emails from the folks at DailyWealth.com. Although some of their stuff can be a little too "doom and gloom" or politically focused for my taste, they do have some good insights into the market. They are also big proponents of dividend reinvestment and have written about it on many occasions. I found a recent article rather interesting, with the headline "The Best Investment Advice You'll Never Take". Well, hopefully you're not one of those.</i><br />
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I guarantee you won't take my advice...<br />
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Over the past two weeks, I've shown you how to use the single greatest investment secret ever discovered. I've shown you how to buy capital-efficient companies and compound your wealth at double-digit rates – safely – for decades. <br />
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I've described exactly how to measure capital efficiency (it's easy) and explained the pitfalls to avoid (even smart investors fall into these traps). <br />
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Using just the information contained in these two essays, a little bit of common sense, and a little bit of discipline, you can become a world-class investor using this strategy. And yet... very, very few people will pursue this approach. <b><a href="http://www.dailywealth.com/2307/best-investment-advice-never-taken" target="_blank"><span style="color: blue;">READ MORE</span></a></b><br />
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<a alt="Give the Gift of Stock with ShareBuilder.com!" href="http://track.linkoffers.net/a.aspx?foid=3473724&fot=9999&foc=2&foc2=575983" rel="nofollow" target="_blank" title="Give the Gift of Stock with ShareBuilder.com!"><img border="0" src="http://content.linkoffers.net/SharedImages/Products/162576/575983.gif" /></a>Dividends Paidhttp://www.blogger.com/profile/12619555024601191870noreply@blogger.com0