The Ultimate Dividend Playbook by Morningstar Inc. -- Read -- Imperial Library of Trantor

Index

Title Page Copyright Page Acknowledgments Introduction

What Are Dividends, Anyway? A Role Model The Ultimate Dividend Playbook

Chapter 1 - Income? From Stocks?

Portfolios: Piles and Flows Living Off the Pile Meet Mr. Market Sally and Mr. Market Are Fixed-Income Investments the Solution? The Third Way: Income from Stocks Where the Dividends Are The Ultimate Example What Do You Want to Own? The Bottom Line

Chapter 2 - Dividends, Values, and Returns

Begin with the Humble IOU Total Return on an IOU From 10Us to Stocks The Honor System A Rising Dividend Stream The Grand Conclusion Dividend Yield and Dividend Growth Dividend Returns and Realized Returns The Bottom Line

Chapter 3 - Corporations: Dividend Machines

Capital and Profits Evaluating Profitability: Not All Profits Are Created Equal Long-Term ROEs: Competition Counts Economic Moats Evaluating Moats The Jump from Profits to Dividends Sustainable Growth, Meet Achievable Growth Returning Cash to Shareholders? Which Ones? The Bottom Line

Chapter 4 - Dividend Insight

The Uses of Dividends Sticky Dividends The Virtues of Dividends Virtues and Profits A Tale of Two Seat Makers Dividend Records: The Trend Is Your Friend Introducing the Dividend Drill The Bottom Line

Chapter 5 - Dividends Past, Present, and Projected

The Difference between 7 Percent and 11 Percent A Brief History of Dividend Yield A Brief History of Dividend Growth Inflation Dividend Payout Ratios Of Profits and Profitability The Bottom Line

Chapter 6 - Is It Safe?

Earnings: The Capacity to Pay Payout Ratios: The Sufficiency to Pay Earnings Stability Earnings Durability The Willingness to Pay Warning Signs The Bottom Line

Chapter 7 - Will It Grow?

The Dividend Record Introducing the DDRM How the DDRM Works The DDRM Applied Capital Consumers and the DDRM Premises of and Limitations to the DDRM Means versus Motive The Bottom Line

Chapter 8 - What’s the Return?

The Standard Approach to Risk The Dividend Approach to Risk Margins of Safety Requiring an Adequate Return Hurdle Rates in Action Valuing a Stock with the DDRM Final Reality Check: Yield History Stuffing the “Too Tough” File What’s Your Return?

Chapter 9 - Independence

The Wall Street Way Stepping toward Independence Dividends: The Ultimate Psychological Advantage Independence in Action The Bottom Line

Chapter 10 - Managing a Dividend Portfolio

Question 1: Target Yield Question 2: Tax Status Building Your Opportunity Set Diversification What about Risk? Tracking Your Progress Monitoring Existing Holdings When to Sell, When to Swap The Bottom Line

Chapter 11 - The Future of Dividends"

Dividend Taxes: No Fair! Dividend Battleground: Shareholders versus Management Shareholders Who Should Know Better Solutions for the Tax Bias Solutions for Corporate Conflicts What It Is, Rather than What I’d Like It to Be

Epilogue Appendix 1 - The Nuts and Bolts of Dividend Payments Appendix 2 - Dividends and Taxes Appendix 3 - Banks Appendix 4 - Utilities Appendix 5 - Real Estate Investment Trusts Appendix 6 - Energy Partnerships Appendix 7 - Other Dividend Opportunities Index