Good Morning,
I wanted to let you know that I added to an existing holding in another quality dividend growth company a few minutes ago. It is a dividend achiever with a 16-year track record of annual dividend increases. Over the past decade, it has managed to grow dividends at an annualized rate of 12.5%.
The stock seems to be fairly valued, as it has been beaten down this year. At the same time, it looks like the business is expecting to grow earnings and dividends at a decent clip in the foreseeable future as well. However, Mr Market seems to believe that the earnings power of this business is permanently impaired. I believe the odds are Mr Market is overreacting.
