DividendGrowth.ca
http://www.dividendgrowth.ca/dividendgrowth/
2024-03-19T05:35:28+00:00DividendGrowth.ca
http://www.dividendgrowth.ca/dividendgrowth/
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DividendGrowth.ca
The Connolly Report (since 1981) is no longer printed. It's a blog for subscribers inside this site. The blog is four or so pages a month with scores of ideas, links, yield and dividend data (going back decades) about dividend growth investing. Summaries of printed reports over the last decade (up to December 2018) are inside too.text/html2023-08-25T11:59:29+00:00tom (tom@undisclosed.example.com)about_us
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[Logo]
The Connolly Report (about dividend growth common stocks) has been published since 1981 by Thomas. P. Connolly, B.Com ('64). The ideas about the strategy are on-line now inside dividendgrowth.ca It is blog of a few pages a month plus links, special one page White Paper summaries now and then, and a lot of dividend growth data. The entire Graham data and explanations mentioned in Rob Carrick's July 2020 column is there too. This blog will continue into 2024 and hopefully beyond. Access …text/html2022-11-01T12:56:38+00:00tom (tom@undisclosed.example.com)advisers_err
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Advisor Errors
Every weekend there is a new financial plan in the press. The planning portion is usually fine; the investing part is maladroit. The so-called experts are infected by modern portfolio theory. Here are some examples.
* “As they move into retirement”, the adviser said, “they will need to reduce their volatility risk…”text/html2022-02-24T20:11:33+00:00tom (tom@undisclosed.example.com)dividend_growth_strategy
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The Dividend Growth Strategy
It’s the future cash flow dividend growth investors are interested in. We want our cash flow to be sound and growing. And we have discovered that as the dividend grows, the price grows also. Charles Ellis put it this way in a 1987 Forbes column: “You could invest the portfolio and get a 4% dividend return. That dividend could reasonably be expected to grow at 6% . . . the principal presumable would also appreciate at 6%.” In essence, this is what I do. (What’s Ellis…text/html2021-08-26T19:51:07+00:00tom (tom@undisclosed.example.com)el
http://www.dividendgrowth.ca/dividendgrowth/doku.php?id=el&rev=1630007467&do=diff
Guelph seminar May 28 2015 - Food Sciences Building at the university 7:30 p.m.
* Sorry. This chart is crooked and I forgot to pass this around, but this CNR yield chart back to 1999 shows that as the dividend rises (hand-writtne across the bottom) the yield essentially stays the same. So, the price must be rising too. And it did.text/html2021-07-03T18:52:27+00:00admin (admin@undisclosed.example.com)report_summaries
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Connolly Report (since 1981) Summaries
* December 2019 Connolly Report, Volume #39 - decade long, year-by-year dividend data for 32 companies with CAGR on both dividends and price as the 2009 average price and the late 2019 prices are included? The data is unbelievably similar (as in some 80% correlation). These two pages are included with the access fee in the December 2019 blog.text/html2021-07-03T18:23:34+00:00admin (admin@undisclosed.example.com)subscribers
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Subscribers
Once your account has been set up by Denise or I, click HERE to login and view subscriber-only content.
Please read this before you log in for the first time or your login might not work:
* username is all in lower case with first and last name joined by a period (tom.connolly or john.m.connolly or e.c.connolly). Use the Tab key to enter (not the enter key).text/html2021-02-04T21:29:40+00:00tom (tom@undisclosed.example.com)comments:arnold_bernhard_ii
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Our most recent comments are inside this site on monthly blog pages.text/html2020-09-08T17:45:54+00:00tom (tom@undisclosed.example.com)the_investment_zoo
http://www.dividendgrowth.ca/dividendgrowth/doku.php?id=the_investment_zoo&rev=1599587154&do=diff
A two four of reasons to buy
The Investment Zoo
by Stephen Jarislowsky
If you are just starting to invest*, acquire The Investment Zoo and read pages 152, 90, 99, 111
If you already own BCE, invest in The Investment Zoo and read page 94. It may make you think twice.text/html2020-02-06T00:43:27+00:00tom (tom@undisclosed.example.com)starting_to_invest
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h1. Starting to Invest
* re-read and revised in places in February 2012
1. You can invest yourself. In fact, you must learn to invest yourself. Here's one mighty powerful reason: if you had bought Bank of Nova Scotia common shares in 1990, you would have earned a total return of 31.6% per year up to the end of 2005. Of this, 14.2% was dividend yield on the original investment and 17.5% in capital appreciation. Thirty two percent a year. As they are required to say in mutual fund ads, the pas…text/html2019-07-12T12:25:41+00:00tom (tom@undisclosed.example.com)thoughts_from_2011_12_and_13
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Thoughts from 2010:
Thoughts from 2010
DIVIDENDS MATTER: From December 1969 to December 2009, the compound total return with re-invested dividends for Canadian stocks was 5,285%. Not counting dividends, measuring stock-price gains alone, the gain over the same period was 1,481% (according to S&P in Barron's of March 22 2010). ♣ 5,285 vs 1,481 is right some significant? What's your conclusion? These numbers make me feel secure in my strategy: I buy good dividend paying stocks and do not trade ve…text/html2019-07-12T12:23:42+00:00tom (tom@undisclosed.example.com)third_quarter_2010
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Third Quarter 2010
* “[T]he starting yield is very important to future returns. And it is currently low. (Buttonwood's blog, The Economist, September 13 2010) TC: This is the lesson of the day, week and month. What's he saying?
Long term “80 percent of your total return is generated by the price you pay for the investment plus growth in the underlying cash flowtext/html2018-12-30T19:10:41+00:00tom (tom@undisclosed.example.com)investment_books
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Investment Books
The Investment Zoo by Stephen Jarislowsky - the best of the lot...by far. That it is not recommended by brokers speaks volumes. And even better, The Investment Zoo is Canadian. Unfortunately, The Investment Zoo is out of print.
Eventually, I'll get some other book reviews moved here. The newer book reviews will be inside, Mr Market Miscalculates by James Grant, for instance.text/html2018-10-08T11:01:00+00:00tom (tom@undisclosed.example.com)what_s_inside
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What's inside this dividendgrowth web site for subscribers?
* Years of experience - Tom Connolly began teaching investing in the 1960s. The Connolly Report on dividend growth stocks, specifically, is now in Volume 38 (since 1981). I'm a financial economist. B.Comm. 1964. I am NOT an advisor, never was, never will be. I provide (a) ideas, many of which you will not find elsewhere, (b) three ways to value stocks (yield, Graham value and C.A.P.E)text/html2017-10-21T11:45:46+00:00tom (tom@undisclosed.example.com)fourth_quarter_2017
http://www.dividendgrowth.ca/dividendgrowth/doku.php?id=fourth_quarter_2017&rev=1508586346&do=diff
Fourth Quarter 2017
* “How dividend growth can boost a stock's price” by Rob Carrick, RoB October 18 2017 page 11
<http://www.pressreader.com/canada/the-globe-and-mail-alberta-edition/20171018/281981787822438>
Inside this site are the five spreadsheets delving into data about the 24 stocks the Connolly Report has followed since 2008. Other dividend growth data goes back to 1977. We compute average dividend growth per year on the six stalwarts over forty yearstext/html2017-06-06T13:46:51+00:00tom (tom@undisclosed.example.com)first_quarter_2017
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First Quarter 2017
(with thoughts added on June 5th)
“Indexing works great. Until it doesn't”. These sentences are from an ad by Cumberland Wealth Management in The Economist. The bull market is long in the tooth. What do you do if your own an index ETF or fund? Ride it down as you rode it up? Remember that the S&P 500 was essentially flat between 1999 and 2009text/html2017-03-24T19:43:20+00:00tom (tom@undisclosed.example.com)fourth_quarter_2016
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Fourth Quarter 2016
ETFs and income funds spoil their returns by adding a lot of lower quality, plain-vanilla dividend stocks.
Our goal is growth of the spending stream. Yield alone does not move the needle
Can you distinguish between 'current' (or high) yielders and dividend growth stocks? The difference is hugely important. If you can differentiate, and act on that knowledge, you will have a financially comfortable retirement: tens of thousands of extra dollars easily. Most likely you thin…text/html2016-11-01T12:18:59+00:00tom (tom@undisclosed.example.com)the_case_against_etfs - created
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ETFs - another view D R A F T Connolly Report White Page, Aug 1st 2016
ETFs, with exceptions, of course, have four fatal flaws: a lot of mediocre securities, too many holdings, not enough holding (the 'T' in ETF) and little or no increasing yield. In the total scheme of things, ETFs have not been around very long. Ben Graham wanted twenty years of continuous dividends before he purchased a stock. Few ETFs have a track record over a decade. ETFs are, however, being pyrrhically sold. The selling …text/html2016-06-05T15:28:07+00:00tom (tom@undisclosed.example.com)second_quarter_2016
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Second Quarter 2016
Recent research on long-duration investing (time-horizon arbitrage - why dividend growth investors hold) is outlined on the front page of the Connolly Report's 35th year edition (June 2016). What I've learned and experienced about dividend growth investing over three and more decadestext/html2016-04-03T16:28:47+00:00tom (tom@undisclosed.example.com)first_quarter_2016
http://www.dividendgrowth.ca/dividendgrowth/doku.php?id=first_quarter_2016&rev=1459700927&do=diff
First Quarter 2016
The Connolly Report pretty well follows the investment strategies used by John Maynard Keynes when he ran the Chest Fund at Oxford in the 1920s. The front page of the March 2016 Connolly Report outlines Mr Keynes' three basic strategies (from 1938). I reject Modern Portfolio Theory and follow the old masters (Graham, A. Bernhard, J Burr Williams, G. Loeb