At Reaves, we believe one of the clearest signals of a company’s strength and durability is its ability to grow dividends. As such, we provide quarterly updates on the dividend growth of the companies in our portfolio relative to the broader sectors in which they operate.
In the tables below, we have sorted the companies in Reaves’ LTV Wrap Composite1 by sector, showing their dividend growth for the annual period ending September 30, and comparing it to the average dividend growth rate of their respective sector.
In total, 88% of the 17 dividend-paying stocks in the portfolio raised their dividend, while the rest held their dividend the same as a year ago. On a weighted average basis, dividend growth was 6.1% for all of the stocks held in the portfolio at the end of the third quarter.
In aggregate, the composite’s holdings’ dividend growth exceeded the sector average for every sector in which we invest except Industrials.
A full look at the dividend growth can be seen in the tables below. We believe the companies’ dividend growth speaks to their strength and aligns with our investment objective to generate both capital appreciation and income growth.
The table below shows the annual dividend increase for each Real Estate stock owned as of September 30, 2021, in a composite of wrap portfolios managed with the Reaves Long Term Value Strategy.
The table below shows the annual dividend increase for each Utility stock owned as of September 30, 2021, in a composite of wrap portfolios managed with the Reaves Long Term Value Strategy.
The table below shows the annual dividend increase for each Industrial stock owned as of September 30, 2021 in a composite of wrap portfolios managed with the Reaves Long Term Value Strategy.
The table below shows the annual dividend increase for each Communications Services stock owned as of September 30, 2021, in a composite of wrap portfolios managed with the Reaves Long Term Value Strategy