About the Editor
Equities strategist Josh Peters is the editor of Morningstar DividendInvestor, a monthly newsletter that provides quality recommendations for current income and income growth from stocks.

Josh manages DividendInvestor's model dividend portfolio, the Dividend Select Portfolio. Josh joined Morningstar in 2000 as an automotive and industrial stock analyst. After leaving in 2003 to join UBS Investment Bank as an equity research associate, he returned to Morningstar in 2004 to develop DividendInvestor.

Peters holds a BA in economics and history from the University of Minnesota Duluth and is a CFA charterholder. He is also the author of a book, The Ultimate Dividend Playbook, which was released by John Wiley & Sons in January 2008.

Investment Strategy

Dividends are for everyone regardless of age. The outcome of owning dividend-yielding stocks is the key variable-higher-yielding stocks with safe payouts being less risky while affording investors who don't need current income the ability to reinvest/reallocate the capital.

The goal of the Dividend Select Portfolio is to earn annual returns of 9% - 11% over any three-to-five year rolling time horizon. We further seek to minimize risk, as defined by the probability of a permanent loss of capital. For our portfolio as a whole, this goal is composed of:

3% - 5% current yield
5% - 7% annual income growth

Nov 26, 2015
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About Josh Joshs Photo
Josh Peters, CFA
Equities Strategist and Editor
Equities strategist Josh Peters is the editor of Morningstar DividendInvestor, a monthly newsletter that provides quality recommendations for current income and income growth from stocks.Josh manages DividendInvestor's model dividend portfolio, the Dividend Select Portfolio.
Featured Posts
Thanksgiving Honor Roll -- The Week in Dividends, 2015-11-25
Despite escalating turmoil overseas, trading on Wall Street has been quiet. This is typical in advance of the Thanksgiving holiday, and while I have no meaningful company-specific news or research to share for our portfolio holdings, I'd like to thank all DividendInvestor subscribers for your continued support. I am honored by the opportunity--now in its 11th year--to serve this community of intelligent investors with our research and perspectives.

As in years past, I am also grateful for the 35 separate dividend increases we've received this year, which are summarized in my traditional Thanksgiving honor roll below. This hasn't been an easy market environment, and many of our stocks are out of favor, yet nearly all the companies in which we've invested have raised our pay again this year. Other than three new stocks purchased after they'd already hiked their payouts in 2015 (Compass Minerals CMP, Duke Energy DUK, and Fastenal FAST), the only wallflowers are Chevron CVX and General Electric GE, and I am confident that growth in their dividends will resume next year.

Happy Thanksgiving!

Josh Peters, CFA
Director of Equity-Income Strategy
Editor, Morningstar DividendInvestor

Disclosure: I own all of the holdings of the Dividend Select portfolio in my personal accounts.

Honor Roll: Dividend Increases 2015 (year-to-date)

Company/Ticker Announced Growth%
Kraft Heinz KHC (adjusted for special dividend) 11/5/2015 27.2%
Magellan Midstream MMP Multiple (4x) 14.2%
Paychex PAYX 7/9/2015 10.5%
United Parcel Service UPS 2/11/2015 9.0%
Spectra Energy Partners SEP Multiple (4x) 8.7%
Altria Group MO 8/21/2015 8.7%
Coca-Cola KO 2/19/2015 8.2%
General Mills GIS 3/10/2015 7.3%
Johnson & Johnson JNJ 4/23/2015 7.1%
Wells Fargo WFC 3/11/2015 7.1%
Ventas VTR (adjusted for CCP spinoff) 8/18/2015 6.2%
American Electric Power AEP 10/20/2015 5.7%
Public Service Enterprise PEG (sold 8/12/15) 2/17/2015 5.4%
Rogers Communications RCI (sold 3/3/15) 1/29/2015 4.9%
AmeriGas Partners APU 4/27/2015 4.5%
Welltower HCN 10/30/2015 4.2%
Clorox CLX (sold 8/12/15) 5/11/2015 4.1%
Realty Income O Multiple (4x) 3.9%
Southern Company SO 4/20/2015 3.3%
Procter & Gamble PG 4/17/2015 3.0%
Verizon Communications VZ 9/3/2015 2.7%
National Grid ADR NGG Multiple (2x) 2.2%
Philip Morris International PM 9/16/2015 2.0%
Enterprise Products EPD 10/1/2015 1.3%
Emerson Electric EMR 11/3/2015 1.1%

Note that the size of the dividend increases issued by foreign stocks (NGG and RCI) are measured in local currency. Additionally, I've added the benefit of unusual payouts--Kraft's $16.50 special cash dividend prior to the Heinz merger and Ventas' spinoff of Care Capital Properties CCP--on the premise that the proceeds could have been reinvested at the then-current yields of the stocks that paid them.


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