Good Afternoon,
I wanted to let you know that I added to an existing holding in our U.S. model portfolio earlier today. This company is a dividend achiever with a 15-year track record of annual dividend increases. Over the past decade, it has grown its dividend at an annualized rate of 8.7%, and based on our valuation metrics, the shares are currently trading at a sensible price.
The stock is now trading about 20% below its historical average P/E and currently yields 2.15%. What makes this company especially attractive is its annual special dividend each January, which matches its regular dividend. The actual yield is close to 5%.
