Posts by: battipagliaj
Please see the attached PDF for a new Rising Dividend Portfolio Dividend Behavior piece. This document highlights Dividend Per Share Growth, Annualized Dividends, and Payout Ratios, among other portfolio statistics. It is also available on our website: https://washingtoncrossingadvisors.com/wp-content/uploads/2024/08/WCA-Rising-Dividend-Portfolio-Dividend-Growth-Rates-2024.pdf
2 August 2024 I Glenview, IL The board of directors of Illinois Tool Works Inc. (NYSE: ITW) has declared a regular quarterly dividend of $1.50 per common share, an increase of approximately 7.1% from the previous quarterly dividend of $1.40. For calendar year 2024, this marks the twenty-third dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All twenty-three changes were increases. The average dividend increase is 8.26% 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
30 July 2024 I Oakland, CA The board of directors of the Clorox Company (NYSE: CLX) has declared a regular quarterly dividend of $1.22 per common share, an increase of approximately 1.7% from the previous quarterly dividend of $1.20. For calendar year 2024, this marks the twenty-second dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All twenty-two changes were increases. The average dividend increase is 8.32% 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.
24 July 2024 I Wallingford, CT The board of directors of Amphenol Corporation (NYSE: APH) has declared a regular quarterly dividend of $0.165 per common share, an increase of approximately 50% from the previous quarterly dividend of $0.11. For calendar year 2024, this marks the twenty-first dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All twenty-one changes were increases. The average dividend increase is 8.64% 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
17 July 2024 I Omaha, NE The board of directors of Union Pacific Corporation (NYSE: UNP) has declared a regular quarterly dividend of $1.34 per common share, an increase of approximately 3% from the previous quarterly dividend of $1.30. For calendar year 2024, this marks the twentieth dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All twenty changes were increases. The average dividend increase is 6.58% 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.
9 July 2024 I Columbus, Indiana The board of directors of Cummins Inc (NYSE: CMI) has declared a regular quarterly dividend of $1.82 per common share, an increase of approximately 8.3% from the previous quarterly dividend of $1.68. For calendar year 2024, this marks the nineteenth dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All nineteen changes were increases. The average dividend increase is 6.77% 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
The U.S. economy grew to a record $28 trillion annualized in Q1, the equity market added $9 trillion over the past year, reaching a record $57 trillion, and our WCA Barometer shows positive (albeit fading) strength. Despite this, popular indices’ gains are driven by a few mega-cap companies, leading to less diversification. Historically, smaller companies thrive in expansions and high-risk environments, yet today’s market favors mega-caps. In this update, we address investor concern about growing market divergences between large and small, how we believe portfolios should be positioned to benefit from what comes next, provide an update of current conditions,
The Federal Reserve appears poised to ease off the monetary brake by cutting the policy rate later this year. This potential shift is supported by several indicators, primarily signs of cooling inflation. For over a year, short-term interest rates have been maintained well above the inflation rate, reflecting a stringent monetary policy stance (Chart A, below). Given the inherent lag in the effects of monetary policy, there is a compelling argument for the Fed to start reducing rates to prevent economic deceleration and to support continued growth. Chart A Already Priced In However, there are significant concerns about the current
4 June 2024 I Minnetonka, MN The board of directors of UnitedHealth Group (NYSE: UNH) has declared a regular quarterly dividend of $2.10 per common share, an increase of approximately 11.7% from the previous quarterly dividend of $1.88. For calendar year 2024, this marks the eighteenth dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All eighteen changes were increases. The average dividend increase is 6.69% 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
SimilaritiesIn both 1999 and today, the stock market exhibits strong momentum and a herd mentality, particularly among the largest, most valuable companies. This is evidenced by the significant valuation differential between the market capitalization-weighted S&P 500 index and its equally-weighted counterpart. Currently, this differential is as pronounced as it was in 1999, just before a significant technology stock correction. As we delve deeper, it’s crucial to remember that while trees do not grow to the sky, the same holds true for stock valuations. Valuations Adjusted for CyclicalityValuing stocks using long-run averages of earnings, such as those used in the graph
23 May 2024 I Minneapolis, MN The board of directors of Medtronic plc (NYSE: MDT) has declared a regular quarterly dividend of $0.70 per common share, an increase of approximately 1.5% from the previous quarterly dividend of $0.69. For calendar year 2024, this marks the seventeenth dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All seventeen changes were increases. The average dividend increase is 6.39% 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
From last October’s lows, the total value of stocks in the United States is up another $10 trillion. Sitting near $55 trillion, the U.S. stock market is now within a stone’s throw of record high valuations. At the same time, profits and profit margins for the largest public companies in the S&P 500 index are also at levels not seen before. There are few signs of stress in financial markets, despite much handwringing over the Federal Reserve’s (Fed) next move. If there were real concerns that high interest rates were about to sink the economy, it is highly unlikely that
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