Quarterly Report 2023 Q4 - Dividend Growth: The Underappreciated Tailwind
In some ways 2023 was a truly unique year
Dividend Growth—The Underappreciated Tailwind
Naturally, not all dividend increases are equal
Percentage increases are commonly used
Fortunately, every year
The Power of Compounding Growth
Annual dividend increases can compound
What Characteristics Best Forecast Good Dividend Growth?
Forecasting Dividend Growth
Higher sales and earnings-per-share growth
At Miller/Howard, we combine
Forecasting Dividend Growth: 2023
Forecasting Dividend Growth: 2023
Median Dividend Change
Dividend increases were in line
Performance was highly concentrated in 2023
Unusually High Concentration Risk in the Market
2023 Market Performance Driven by Mega Caps
Larger Dividend Increases Correlate with Better Same-Year Returns
Larger Dividend Increases Correlate with Better Same-Year Returns
Healthy, growing companies
Bigger Dividend Increases, Better Next-Year Returns
Bigger Dividend Increases, Better Next-Year Returns
We have shown that healthy, growing companies
At Miller/Howard, our interpretation
Methodology for Charts
Disclosure
Disclosure
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