Dividend Growth
“For the vast majority of stocks, the dividend record and prospects have
always been the most important factor controlling investment quality and
value.”
- Security Analysis; Benjamin Graham, David L. Dodd, Sydney Cottle
Whether in a bear or bull market, investors seeking timely purchases should
keep the basic philosophy of Graham and Dodd in mind: amongst the
indicators of a company’s potential long term value, there is no greater
barometer than dividend growth. Management can cover up losses, can
manufacture signs of strength on the balance sheet and in the income
statement, and can forecast growth based on any number of developments.
But as their strategies unfold, dividend growth speaks volumes about the
true state of the organization.
For more on dividend growth as a core element
of investment philosophy, please read The
Secret Lessons of Dividend Growth








