 Investment Philosophy  Disciplined Growth Strategy Dividend Equity Strategy Fed Focused® Strategy Fixed Income Strategy Complementary Strategies  |
Dividend Equity Strategy
Strategy Description Aims for superior after-tax returns while providing a predictable income stream. Investment Approach and Process Investing in solid companies with a history of paying dividends has long been a viable strategy because dividends are a key component of stock market returns. The investment landscape further improved in 2003 when the qualified dividend tax rate cut to 15%. We believe that an increasing number of companies will pay higher dividends as shareholders demand more return in the form of cash-in-hand. Our investment methodology concentrates on high quality, high-yield, value-oriented companies that have increasing dividends and strong cash flow. Process Starting from the initial universe of some 2,100 NYSE listed securities, we screen 50 companies who meet the following criteria: Yield — Top half of dividend paying companies |