At Washington Crossing Advisors, we adhere strictly to a “quality at a reasonable price” philosophy. We do not pursue “growth at a reasonable price,” nor do we chase “yield at a reasonable price.” Our foremostprinciple is quality, as we firmly believe that quality endures better than growth over time. In our view, companies with less debt, more profitable assets, and consistent business performance exemplify high quality. To systematically assess quality, we employ a rigorous quantitative process, grading the 1,000 largest U.S. stocks from “A” (highest quality) to “F” (lowest quality). These two groups —”A” Quality (up 12% in the past…
Diversification is often regarded as the bedrock of sound investing. It is widely believed to reduce risk, smooth out returns, and provide stability in uncertain markets. However, this assumption deserves scrutiny, especially when considering the realities of bear markets. Markets Have Two Environments: Bull And Bear Investors must remember that markets operate in two distinct environments: bull markets and bear markets. While bull markets can be enjoyable—lifting nearly all stocks and creating an illusion of stability—bear markets expose vulnerabilities. This reality is particularly important for: A portfolio that thrives in a bull market but collapses in a bear market is…
4 February 2025 I Purchase, NY The board of directors of PepsiCo, Inc. (NASDAQ: PEP) has declared a regular quarterly dividend of $1.42 per common share, an increase of approximately 5% from the previous quarterly dividend of $1.35. Payment of the dividend is expected in June 2025. For calendar year 2025, this marks the seventh dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All seven changes were increases. The average dividend increase is 5.6% compared with December 2024 indicated levels. Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past 12 months, increased,…
31 January 2025 I Ewing, NJ The board of directors of Church & Dwight Co., Inc. (NYSE: CHD) has declared a regular quarterly dividend of $0.29 per common share, an increase of approximately 4% from the previous quarterly dividend of $0.28. Payment of the dividend is expected in March 2025. For calendar year 2025, this marks the sixth dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All six changes were increases. The average dividend increase is 5.8% compared with December 2024 indicated levels. Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past…
There has been much discussion recently about growth. Artificial intelligence and other emerging technologies are fueling expectations for high returns, pushing stock values to record highs. While analysts forecast uninterrupted growth, we question whether some of these expectations are realistic. Markets appear to be pricing in very high growth assumptions, which may prove difficult to meet over time. The Three Pillars of Valuation Three key factors drive valuations: opportunity cost, risk, and growth. Opportunity cost reflects the need for returns that exceed what can be earned in risk-free assets, such as U.S. Treasury bonds. Riskier assets demand a premium to…
23 January 2025 I Indianapolis, IN The board of directors of Elevance Health (NYSE: ELV) has declared a regular quarterly dividend of $1.71 per common share, an increase of approximately 5% from the previous quarterly dividend of $1.63. Payment of the dividend is expected in March 2025. For calendar year 2025, this marks the fifth dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All five changes were increases. The average dividend increase is 6.2% compared with December 2024 indicated levels. Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past 12 months, increased,…
22 January 2025 I Lehigh Valley, PA The board of directors of Air Products (NYSE: APD) has declared a regular quarterly dividend of $1.79 per common share, an increase of approximately 1.1% from the previous quarterly dividend of $1.77. Payment of the dividend is expected in May 2025. For calendar year 2025, this marks the fourth dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All four changes were increases. The average dividend increase is 6.5% compared with December 2024 indicated levels. Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past 12 months,…
The U.S. economy in 2024 showed remarkable resilience against inflation, rising interest rates, and global uncertainties. GDP expanded, consumer confidence stayed strong, and household wealth hit $155 trillion. This reflects America’s economic strength, driven by innovation and industrial capacity, though vulnerabilities remain. Fiscal shifts in 2025 offer potential gains but will test the economy’s ability to sustain momentum. The S&P 500’s rise highlights earnings growth and multiple expansion but reveals risks tied to the dominance of the “Magnificent 7.” Concentration risks persist, even as diversification provides balance. With returns likely to moderate, strategic positioning will be critical to navigating the…
17 December 2024 I Houston, TX The board of directors of Waste Management (NYSE: WM) has declared a regular quarterly dividend of $0.825 per common share, an increase of approximately 10% from the previous quarterly dividend of $0.75. Payment of the dividend is expected in March 2025. For calendar year 2025, this marks the third dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All three changes were increases. The average dividend increase is 8.4% compared with December 2024 indicated levels. Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past 12 months, increased,…
19 November 2024 I Rahway, NJ The board of directors of Merck (NYSE: MRK) has declared a regular quarterly dividend of $0.81 per common share, an increase of approximately 5.2% from the previous quarterly dividend of $0.77. Payment will be made on Jan. 8, 2025, to shareholders of record at the close of business on Dec. 16, 2024. For calendar year 2025, this marks the second dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. Both changes were increases. The average dividend increase is 7.6% compared with December 31, 2023 indicated levels. Please contact your financial advisor for a complete list of…
6 November 2024 I Roseland, NJ The board of directors of ADP (NASDAQ: ADP) has declared a regular quarterly dividend of $1.54 per common share, an increase of approximately 10% from the previous quarterly dividend of $1.40. The new quarterly dividend rate of $1.54 per share will be distributed on January 1, 2025 to shareholders of record on December 13, 2024. For calendar year 2025, this marks the first dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past 12 months, increased, decreased, or had…
5 November 2024 I St. Louis, MO The board of directors of Emerson (NYSE: EMR) has declared a regular quarterly dividend of $0.5275 per common share, an increase of approximately 0.5% from the previous quarterly dividend of $0.525. For calendar year 2024, this marks the twenty-ninth dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All twenty-nine changes were increases. The average dividend increase is 8.06% compared with December 31, 2023 indicated levels. Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past 12 months, increased, decreased, or had no change in dividend. From…