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  May’s blog featured our annual spreadsheet with ten years of earnings for each individual company (no ETF) and cyclically adjusted P/E for each. This type. Of P/E is the best valuation measure. Seven stocks at top of list that are reasonably priced, seven expensive ones at the bottom (don’t buy these) and, in the middle, the sweet spot: good yields, 3.5% and good dividend growth.
-  * June 20 2025 - Empireco.ca (aka Sobey) just announced another dividend increase. Empire has been uppin its dividend for 30 consecutive years. This is the type of company you want for your retirement portfolio. Consumer durables are safer when a market drop comes; much safer than a bond: the growing income makes them so. The increase This June was two cents per share per year. Big deal, eh. Actually it is: that’s up 9.6%. Does your income increase by 10% a year? However, there’s always a ‘but’ with investing, EMP.A’s yield is only 1.5%: that’s means it’s expensive; not a good buy just now. To double check, Connolly Report CAPE (using ten years of earnings) for Empire is 26, average cape of our twenty five company list is 21. This company is expensive by cape too. ♦ How has Empire done as a long term investment. In 2000 its dividend was a dime: now it’s 84¢. The yield on the 2000 price of $5 has grown from 1.0% to 16.8%. That’s double the rate of the market and without counting the price increase. Empire’s price, driven by the dividend increases rose from $5 in 2000 to $56 on solstice day June 2025. A year ago EMP.A’s price was $35. People were using Empire (food retail) as a haven from the Trumph storm. Dividend investing is not dull. And it can be much more rewarding than bonds. Income growth makes it so. No fixed income (60/40) for me!
+  * June 20 2025 - Empireco.ca (aka Sobey) just announced another dividend increase. Empire has been uppin its dividend for 30 consecutive years. This is the type of company you want for your retirement portfolio. Consumer durables are safer when a market drop comes; much safer than a bond: the growing income makes them so because, as the dividend increases, the company’s price increases. The increase in June 2025 was two cents per share per year. Big deal, eh. Actually it is: that’s up 9.6%. Does your income increase by 10% a year? However, there’s always a ‘but’ with investing, EMP.A’s yield is only 1.5%: that’s means it’s expensive; not a good buy just now. To double check, Connolly Report CAPE (using ten years of earnings) for Empire is 26, average cape of our twenty five company list is 21. This company is expensive by cape too. ♦ How has Empire done as a long term investment. In 2000 its dividend was a dime: now it’s 84¢. The yield on the 2000 price of $5 has grown from 1.0% to 16.8%. That’s double the rate of the market and without counting the price increase. Empire’s price, driven by the dividend increases rose from $5 in 2000 to $56 on solstice day June 2025. A year ago EMP.A’s price was $35. People were using Empire (food retail) as a haven from the Trumph storm. Dividend investing is not dull. And it can be much more rewarding than bonds. Income growth makes it so. No fixed income (60/40) for me!
+November 2005’s feature was a list of 12 companies showing data from 2000. Dividend increases were 7% on average, price increases were 9.1%. With our growing yield strategy, there is no target date. We keep creating wealth: our cash flow is up and this drives th price up also. Long term equity returns are quite predictable. I do not buy bonds, ETS or index funds. Example from the list: BNS’s dividend in 2000 was 52¢. Now it’s $4.32. So, our yield is 86% on our BNS. And the price went from $5 to $63 (up 11.1% a year).
 April 2 2025
   * On April 2 2025, from Don’s rose garden, the tariff chaos began getting more serious. Markets reacted quickly. If you are an investor who buys individual companies for the dividend, through your direct investing account, you receive your dividends directly from your companies. There is no third party. No wealth manager. As a result, you are not in ‘the market’. You can enjoy any market mayhem. It’s true. Your **return will be the yield on your company’s stock plus its growth** . The price of your company will track along with cash flow growth. If you selected fine companies with a long record of dividend growth, a decade at least, there is no reason for concern. Really. After about a decade (proof inside this site), your yield alone will beat the market. Yields grow.

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