Email of the day on dividend champions, contenders & challengers
I wrote to you earlier about the list of solid dividend paying companies called Dividend Champions, Achievers and Challengers (http://www.fullertreacymoney.com/general/email-of-the-day-6484/?hl=dividend+achievers). The list is meticulously maintained by David Fisk. It might be useful to have these stocks in a folder accessible by everyone. Note that David Fisk also maintains a comprehensive list of fundamental parameters for these stocks. This would nicely complement the technical charts to help subscribers select specific stocks.
Thank you for this reminder and now that we have control over the infrastructure of the Chart Library we have been able to add considerably more equity sections. We are now engaged in a medium-term project to completely re-categorise all of the funds listed in the library according to their domicile, geographic focus, currency, theme, type and objective. We added a dedicated section for the Autonomies a number of months ago and I added a section for the Dividend Champions today. I aim to add lists of the Dividend Contenders and Challengers over the next couple of days.
The S&P500 Dividend Aristocrats represent a larger cap subset of the Dividend Champions which does not have a market cap or liquidity restriction. Following a click through of the sector, a considerable number of constituents are overextended relative to the 200-day MA or do not have consistent trends. Two of the more interesting charts are:
Following an impressive advance Consolidated Edison (Est P/E 15.03, DY 4.45%) trended lower between mid-2012 and April. It has held a progression of higher reaction lows since and a sustained move below $54 would be required question recovery potential.
HCP (Est P/E 13.8, DY 5.22%) hit a medium-term peak with a large weekly key reversal a year ago and trended lower until December. It has held a progression of higher reaction lows since and found support in the region of the 200-day MA from earlier this month. A sustained move below $40 would be required to question recovery potential.
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