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Dividend Increases/Decreases for the Week of September 19

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Below we provide a list of firms that raised their dividends during the week ending September 19. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week                          Adamas Trust (ADAM): now $0.23 per share quarterly dividend, was $0.20. Apartment Investment (AIV): now $2.23 per share special dividend, was $0.60. Banco Macro (BMA): now $0.3665 per share quarterly dividend, was $0.3658. CareRx (CRRX:CA): now CAD 0.02 per share quarterly dividend. Cherry Hill Mortgage Investment Corporation 8.250 CUM PFD B (CHMI.PR.B): now $0.6523 per share quarterly dividend, was $0.6413. Cross Timbers Royalty Trust … Read more

How Some Members Use Valuentum’s Investment Services

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By Brian Nelson, CFA Thank you for your membership to Valuentum. We serve a wide variety of investors, including dividend growth investors, value investors, and pure Valuentum investors, among others. Many different types of investors and professionals use our research and financial analysis in a whole host of applications from individual stock-selection to the evaluation of closed-end funds to an overlay in a money-management setting and beyond. We wanted to make sure that you know that, if you’re a dividend growth or income investor, that there are others that use our website to utilize the Valuentum process, fair value estimates and other metrics. Similarly, if you’re a practitioner of the Valuentum system, I wanted to make sure that you are … Read more

CFA Institute Blog: “Hide-‘Til-Maturity” Accounting

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The Silicon Valley Bank collapse recalls the tussle over the accounting for financial instruments after the global financial crisis [GFC] in 2009, particularly the debate about whether some financial instruments should be carried at amortized cost (held-to-maturity, HTM) rather than at fair value (available-for-sale, AFS), or what is referred to as the “mixed measurement model.”  — Sandy Peters, CPA, CFA To read the article on the CFA Institute Blog >> —– Related: 4 Very Good Reasons Why We Don’t Like Dividends of Banking Stocks Banks & Money Centers: AXP, BAC, BBT, BK, C, DFS, FITB, GS, HBC, JPM, KEY, MS, NTRS, PNC, RF, STI, TFC, USB, WFC Valuentum does not believe the long-term dividend health of any financial institution can be accurately … Read more

Long Live Apple and Large Cap Growth!

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Image: Since the release of the book Value Trap in December 2018, an ETF that tracks large cap growth (SCHG) has outperformed not only the S&P 500 (SPY), but also the areas of dividend growth (SDY) and small cap value (IWN) by sizable margins. By Brian Nelson, CFA We explained in part why we don’t like the dividends of banking firms in this note here, and we’re starting to see dividend cuts in the regional banking space, with PacWest Bancorp (PACW) as the latest banking entity to slash its quarterly payout. Right now, executives in the regional bank arena seem to be like deer caught in headlights, and we’re even seeing banking deals fall apart. The proposed deal between Toronto-Dominion … Read more

Quick Take: Fed Raises 25 Basis Points; This Banking Crisis Is Far from Over

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Image: FOMC Chairman Powell answers a reporter’s question at the March 20, 2019 press conference. By Brian Nelson, CFA On March 22, 2023, the Federal Reserve raised its benchmark rate 25 basis points, to the range of 4.75%-5%, a move that we think reflects a government agency that is now more or less a deer caught in headlights–given the nascent regional banking crisis in the United States. The bottom line is that the U.S. banking system does not have enough cash on hand to redeem all deposits (it never has), and with respect to U.S. banks, deposit insurance is only up to $250,000 per depositor, per FDIC-insured bank, per ownership category. The U.S. public has grown concerned, and that may … Read more

ICYMI: Valuentum’s Brian Nelson on the Latest Howard Marks’ Memo: “Something of Value”

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Valuentum’s President of Investment Research Brian Michael Nelson, CFA, explains why there are not really value and growth stocks, why most of the research in quantitative finance is spurious and needs to be redefined on a forward-looking basis, and why enterprise valuation (not the efficient markets hypothesis) should be the organizing principle of finance. Nelson explains his views about valuation, what it means to be a value investor, and investing in the context of Oaktree Capital Howard Marks’ latest memo, “Something of Value,” January 11, 2021. Please don’t forget to give the second edition of the book “Value Trap” a 5-star rating on Amazon here. Thank you for your membership! —– Tickerized for holdings in the IWM. Valuentum members have … Read more

Value Is Not Static and the Qualitative Overlay Is Vital to Our Process

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With prudence and care, the Valuentum Buying Index process and its components are carried out. Our analyst team spends most of its time thinking about the intrinsic value of companies within the context of a discounted cash-flow model and evaluating the risk profile of a company’s revenue model. We have checks and balances, too. First, we use a fair value range in our valuation approach as we embrace the very important concept that value is a range and not a point estimate. A relative value overlay as the second pillar helps to add conviction in the discounted cash-flow process, while a technical and momentum overlay seeks to provide confirmation in all of the valuation work. There’s a lot happening behind the scenes even before a VBI rating is published, but it will always be just one factor to consider. Within any process, of course, we value the human, qualitative overlay, which captures a wealth of experience and common sense. We strive to surface our best ideas for members.

Dividend Increases/Decreases for the Week Ending September 21

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Below we provide a list of firms that raised their dividends during the week ending September 21. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week ALPS Emerging Sector Dividend Dogs ETF (EDOG): now $0.3586 per share quarterly dividend, was $0.2628. ALPS Equal Sector Weight ETF (EQL): now $0.38179 per share quarterly dividend, was $0.35945. ALPS Sector Dividend Dogs ETF (SDOG): now $0.3924 per share quarterly dividend, was $0.3836. Canadian Banc Corp (CNDCF): now CAD 0.1069 per share monthly dividend, was CAD 0.1057. Citizens Financial Services (CZFS): now $0.44 per share quarterly … Read more

Dividend Increases/Decreases for the Week Ending March 23

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Below we provide a list of firms that raised their dividends during the week ending March 23. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week BBX Capital (BBX): now $0.01 per share quarterly dividend, was $0.0075. Children’s Place Retail Stores (PLCE): now $0.50 per share quarterly dividend, was $0.40. Cousins Properties (CUZ): now $0.065 per share quarterly dividend, was $0.06. CSB Bancorp (CSBB): now $0.24 per share quarterly dividend, was $0.22. Enduro Royalty Trust (NDRO): now $0.040499 per share monthly dividend, was $0.037125. Finjan Holdings (FNJN): now $0.08 per share quarterly … Read more

Dividend Increases/Decreases for the Week Ending June 23

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Below we provide a list of firms that raised/lowered their dividends during the week ending June 23. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week ALPS | Dorsey Wright Sector Momentum ETF (SWIN): now $0.05305 per share quarterly dividend, was $0.03923. ALPS Alerian Energy Infrastructure ETF (ENFR): now $0.2405 per share quarterly dividend, was $0.15615. ALPS Emerging Sector Dividend Dogs ETF (EDOG): now $0.312 per share quarterly dividend, was $0.095. ALPS Equal Sector Weight ETF (EQL): now $0.32887 per share quarterly dividend, was $0.27069. ALPS International Sector Dividend Dogs ETF (IDOG): … Read more