I used to be able to find a list at the chart library for a list of the shares that are dividend aristocrats by Eoin. I was unable to do so today. Is it still available and if so, can you please advise how I can reach it? Tks in adv.
Thanks for this question which others may have an interest in. The route to find the lists of dividend aristocrats is to open the Chart Library. Select the International Equity Library. The lists of Dividend Aristocrats stocks are the second item on the left-hand column. Here is a link to the lists.
The big question for the many companies is less about the sustainability of the dividend. The bigger question is on the sustainability of buybacks. A graphic which was quite common a year ago was the dependence of this bull market on buybacks. That issue is now front and centre as companies are hoarding cash in advance of earnings evaporating in the short term.
I took the constituents of the S&P500 and looked at the rate of buy backs. The primary point is the average price most companies paid for their own shares is well above current levels. By that rationale they should be buying more now. The primary issue with reliance on buybacks for gains is they tend to be highly procyclical.
The one important caveat is the big tech companies like Google, Amazon and Facebook do not buy back shares so they are less likely to be affected by recalibration based on expectations of buybacks drying up.Back to top