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Dividend Increases/Decreases for the Week Ending November 4

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Below we provide a list of firms that raised/lowered their dividends during the week ending November 4. 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 Aaron’s (AAN): now $0.0275 per share quarterly dividend, was $0.025. Alliance Bernstein (AB): now $0.45 per share quarterly dividend, was $0.40. American States Water (AWR): now $0.242 per share quarterly dividend, was $0.224. Archrock (AROC): now $0.12 per share quarterly dividend, was $0.095. B&G Foods (BGS): now $0.465 per share quarterly dividend, was $0.42. Big 5 Sporting Goods (BGFV): now $0.15 per share quarterly dividend, was … Read more

How to Think About Corporate Tax Reform

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Nelson: The 16 Most Important Steps To Understand The Stock Market

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A previous version of this article appeared on our website July 21, 2013. Refreshed and updated throughout, as of July 2018. By Brian Nelson, CFA After earning my MBA at the University of Chicago Booth School of Business and training stock and credit analysts from large organizations over the past decade or so, I have heard just about every question (though I admit I am still surprised by many things and remain a very humble student of the markets). I’ve also spent years perfecting the discounted cash flow process for large research organizations such as Morningstar and studied under one of the most famed aggressive growth investors of all time, Richard Driehaus. My knowledge runs the gamut from value through … Read more

There Is Milk At The Store

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This article first appeared in the September edition of the High Yield Dividend Newsletter. For more information about this publication, please see here. “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” — Winston Churchill By Brian Nelson, CFA Very few of us could have imagined that we’d witness the bull market that began on that fateful day in March 2009 that might very well mark a generational low. In 2009, major investment banks around the globe were struggling to survive, and the fallout in the mortgage markets left the banks holding paper that nobody wanted to own, let alone buy. The global financial system … Read more

Midstreams Going C-Corp, Should SEC Disallow the Measure Distributable Cash Flow?

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Key Takeaways It’s important to differentiate the concept of enterprise free cash flow valuation and the idea of capital-market dependence. The uncertainty of the MLP business model remains, as it is clear operators are shunning the MLP business model preferring C-Corps instead. According to work from Global X Funds, now 40% of the energy infrastructure market cap consists of C-Corps, up considerably from just 15% at the end of 2014. Though many simplifications have come with implied distribution cuts, the primary reason for the rise in C-Corps across the midstream space has been the rationalizing of excess MLP valuations to enterprise free cash flow assessments. We encourage the SEC to consider disallowing the use of distributable cash flow, as it … Read more

Dividend Increases/Decreases for the Week Ending February 10

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Below we provide a list of firms that raised/lowered their dividends during the week ending February 10. 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 3M Company (MMM): now $1.175 per share quarterly dividend, was $1.11. Alaska Air (ALK): now $0.30 per share quarterly dividend, was $0.275. Allstate (ALL): now $0.37 per share quarterly dividend, was $0.33. Archer Daniels Midland (ADM): now $0.32 per share quarterly dividend, was $0.30. Baldwin & Lyons (BWINA): now $0.27 per share quarterly dividend, was $0.26. Bank of Botetourt (BORT): now $0.14 per share quarterly dividend, … Read more

Dividend Increases/Decreases for the Week Ending February 5

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Below we provide a list of firms that raised/lowered their dividends during the week ending February 5. 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 3M (MMM): now $1.11 per share quarterly dividend, was $1.025. A-Mark (AMRK): now $0.07 per share quarterly dividend, was $0.05. Allegion (ALLE): now $0.12 per share quarterly dividend, was $0.10. Archer Daniels Midland Co. (ADM): now $0.30 per share quarterly dividend, was $0.28. Armada Hoffler Properties (AHH): now $0.18 per share quarterly dividend, was $0.17. AvalonBay Communities (AVB): now $1.35 per share quarterly dividend, was $1.25. … Read more

More First-Quarter Earnings Flying In: GM, Ford, Big Oil and More

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Image Source: General Motors GM’s dividend yield and valuation opportunity are incredible, while Microsoft’s free cash flow generation and solid net cash position speak to tremendous dividend strength. We liked what we saw out of Union Pacific during the first quarter, and you have to be aware of Big Oil’s bloated balance sheets. All of this and more included in this piece. By Brian Nelson, CFA It’s puzzling to think about, but with the first-quarter 2017 US GDP print today, April 28, coming in at just 0.7%, below expectations, one wouldn’t think the stock market is near all-time highs. Interestingly, in the report, too, the weakest area came from real consumer spending, which registered a pace of growth as poor … Read more

Dividend Increases/Decreases for the Week Ending February 9

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Below we provide a list of firms that raised their dividends during the week ending February 9. 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 Allegion (ALLE): now $0.21 per share quarterly dividend, was $0.16. Allergan (AGN): now $0.72 per share quarterly dividend, was $0.70. Allstate (ALL): now $0.46 per share quarterly dividend, was $0.37. ALPS Alerian MLP ETF (AMLP): now $0.2066 per share quarterly dividend, was $0.2052. Anadarko Petroleum (APC): now $0.25 per share quarterly dividend, was $0.05. Archer Daniels Midland (ADM): now $0.335 per share quarterly dividend, was $0.32. … Read more

Seeking Balance: What’s Happening in the Crude Oil and Iron Ore Markets

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Image Source: Sollven Melindo Commodity prices are notoriously volatile as the global markets often struggle to maintain a sustainable balance of supply-demand. Let’s take a look at some recent developments and coming events that are impacting the prices of crude oil and iron ore. By Kris Rosemann We’re not rushing to add any commodity-based exposure at the moment. We have some of course – but we’re not looking to add more to the newsletter portfolios. For starters, the iron ore pricing market appears to be setting itself up for another period of pain, and we’re preaching serious levels of caution for those considering the space as iron-ore prices have already begun to descend from the peak of the puzzling early-2017 … Read more