Core Insights - Waste Management (WM) is the largest trash hauler in North America, with a market cap of $86.9 billion, and has seen its share price increase over 375% in the last decade [2][4]. Industry Overview - The trash industry is growing due to the increasing North American population, leading to more waste generation [3]. - The industry is dominated by three major companies: Waste Management, Republic Services ($67.3 billion), and Waste Connections ($44.7 billion), which control the majority of the market [4]. Business Stability - Waste Management benefits from low customer churn, which is below 10%, due to high barriers to entry such as limited landfill space and the need for specialized trucks for municipal contracts [5]. Dividend Performance - Waste Management has a strong history of dividend increases, with a notable 10% increase in 2025, supported by reliable cash flow from long-term contracts [6]. - The company expects free cash flow for 2025 to be between $2.8 billion and $2.9 billion, which comfortably covers its projected dividend payouts of $1.3 billion to $1.4 billion [7]. - Although the current dividend yield is 1.49%, which is low historically, the dividend has increased by over 114% in the last decade, while the share price has risen by 305% [8].

Core Viewpoint - Semtech Corporation (SMTC) is set to report its Q3 earnings on November 24, with expectations surrounding the performance and future outlook of the company [1]. Company Overview - Semtech Corporation is focused on maintaining a long-term investment horizon, typically ranging from 5 to 10 years, emphasizing a balanced portfolio that includes growth, value, and dividend-paying stocks [1]. Investment Strategy - The company tends to prioritize value investments over other types, while also engaging in options trading occasionally [1].

Core Insights - Fortis Inc. is recognized as one of the best Canadian dividend stocks for long-term investment [1] - CIBC has raised its price target for Fortis to C$75 while maintaining an Outperform rating [2] - Fortis reported a capital expenditure of approximately $4.2 billion in the first nine months of the year, aiming for a full-year target of $5.6 billion [3] Financial Performance - The company has introduced a five-year capital plan worth $28.8 billion for the period from 2026 to 2030, with an expected annual rate base growth of about 7% [3] - Fortis announced a 4% increase in its quarterly dividend to $0.64 per share, marking the 52nd consecutive year of dividend growth [4] Business Model - Fortis operates a regulated utility network, with around 93% of its assets in lower-risk transmission and distribution, providing stability in financial results [5] - The investment strategy aims to increase dividends by 4 to 6% annually through 2030, appealing to income-focused investors [4]

Core Insights - Disney announced a 50% increase in its annual dividend to $1.50 for fiscal Q4 2025, which led to a selloff in its stock [1] - The company had previously increased its dividends by 33% in December 2024, with semi-annual dividends rising from $0.30 to $0.75 since reinstating them in late 2023, marking a 1.5-fold increase [2] - Despite the recent hikes, Disney's dividend yield remains low at approximately 1.42%, comparable to the average S&P 500 Index [5] Dividend History - Disney suspended its dividends in 2020 and only restored them in late 2023, which was a longer suspension period compared to other companies like Ford and General Motors [3] - The initial semi-annual dividend of $0.30 is still below the pre-pandemic level of $0.88, indicating a slow recovery from the impacts of COVID-19 [4] Stock Performance - Disney has underperformed significantly, with a decline of over 6% in the last 10 years, contrasting sharply with the S&P 500 Index, which has more than tripled during the same period [6] - The stock is projected to underperform the S&P 500 Index again in 2025, continuing a trend observed in three of the last four years [6]

Core Insights - The iShares Core High Dividend ETF (HDV) and the Schwab U.S. Dividend Equity ETF (SCHD) both focus on U.S. dividend stocks, with SCHD noted for its lower cost, higher yield, and larger assets under management, while HDV has shown stronger recent returns [1][2] Cost & Size Comparison - HDV has an expense ratio of 0.08% and assets under management (AUM) of $11.6 billion, while SCHD has a lower expense ratio of 0.06% and significantly larger AUM of $70.1 billion [3][4] - The 1-year return for HDV is 3.6%, whereas SCHD has a negative return of (5.7%), and the dividend yield for HDV is 3.1% compared to SCHD's 3.8% [3][4] Performance & Risk Analysis - Over a 5-year period, $1,000 invested in SCHD would grow to approximately $1,400, while the same investment in HDV would grow to about $1,300 [5] - SCHD tracks a portfolio of 103 U.S. dividend payers with significant sector exposure to energy (20%), consumer defensive (18%), and healthcare (16%) [5][6] - HDV selects 75 stocks with a heavier tilt towards consumer defensive (25%), energy (22%), and healthcare (20%) [6] Historical Returns - Over the past 10 years, SCHD delivered a total return of 199.5%, while HDV underperformed with a total return of 143.1% [7] - The latest quarterly payment for HDV was only 2.85% higher than five years ago, indicating disappointing growth in payouts for income-seeking investors [8] - In contrast, SCHD's focus on dividend growth led to a 29.9% increase in its dividend payout over the past five years [9]

Core Viewpoint - The Schwab U.S. Dividend Equity ETF (SCHD) is highlighted as a high-quality dividend ETF that offers a combination of guaranteed income and diversification, making it a less risky investment compared to individual stocks [1][2][3]. Group 1: ETF Characteristics - SCHD mirrors the Dow Jones U.S. Dividend 100 index and includes companies with at least 10 consecutive years of dividend payouts, a healthy balance sheet, and solid cash flow [3]. - The ETF consists of a diverse portfolio primarily made up of large-cap stocks, with 58% of its companies having a market cap exceeding $70 billion [3]. Group 2: Sector Allocation - The ETF's sector allocation includes: - Energy (19.34%): Chevron and ConocoPhillips - Consumer staples (18.50%): Coca-Cola and PepsiCo - Health care (16.10%): AbbVie and Merck - Industrials (12.28%): Lockheed Martin and United Parcel Service - Financials (9.37%): Fifth Third Bancorp and T. Rowe Price [4]. Group 3: Performance Metrics - SCHD currently has a dividend yield of 3.8%, which is three times higher than the S&P 500 average and slightly above its five-year average [5][7]. - Over the past decade, SCHD has averaged total annual returns of 11.3%, indicating strong long-term growth potential [10]. Group 4: Investment Strategy - Investing $1,000 in SCHD at a 3.8% yield would yield $38 annually, with the potential for significant growth through reinvestment of dividends [8][9]. - Utilizing a dividend reinvestment plan (DRIP) can enhance the compounding effect of earnings, making SCHD a compelling long-term investment option [12].

Core Viewpoint - Coca-Cola is currently more appealing to investors compared to Costco, primarily due to its higher dividend yield and better valuation metrics, while Costco offers stronger growth potential in the long term [1]. Dividend Analysis - Coca-Cola offers a dividend yield of nearly 2.9%, significantly higher than Costco's 0.6%, which is below the S&P 500 average [2]. - Coca-Cola has a long history of dividend consistency, having increased its dividend annually for over six decades, qualifying it as a Dividend King, while Costco has only 21 annual dividend hikes [3]. Valuation Metrics - Coca-Cola's price-to-earnings (P/E) and price-to-book (P/B) ratios are below their five-year averages, indicating it is fairly priced to slightly cheap [4]. - In contrast, Costco's P/S, P/E, and P/B ratios are all above their five-year averages, suggesting it appears expensive despite a 15% decline in stock price [5]. Growth Perspective - Costco has demonstrated stronger growth metrics, with revenue growing at an annualized rate of around 9% and earnings expanding at approximately 13% over the past decade [7]. - Coca-Cola's revenue has remained flat over the past decade, with earnings growing at just over 4% annually, indicating limited growth potential [7][8]. Market Performance - Costco's shares are down approximately 15%, marking the seventh drawdown in the past decade, but historical trends suggest a potential rebound [9]. - Coca-Cola's current market cap stands at $306 billion, while Costco's is at $409 billion, reflecting their respective positions in the market [6][9]. Investment Outlook - From a dividend and value investment perspective, Coca-Cola is likely to be more attractive than Costco at this time [10]. - However, for growth investors, Costco presents a more compelling long-term opportunity, albeit at a premium price [11].

Core Insights - Blackstone Secured Lending Fund (BXSL) is recognized for its defensive portfolio and strong industry metrics, making it a preferred choice among Business Development Companies (BDCs) [1] Company Overview - BXSL has been subject to varying ratings of "buy" and "hold" based on its stock price fluctuations [1] - The fund is part of a broader strategy focused on dividend investing, which is viewed as a pathway to financial freedom [1] Analyst Background - The analyst has extensive experience in mergers and acquisitions (M&A) and business valuation, having evaluated numerous businesses and participated in both sell-side and buy-side transactions [1] - The analyst's expertise spans multiple sectors, including technology, real estate, software, finance, and consumer staples, which are also reflected in their personal investment portfolio [1] Investment Philosophy - The article emphasizes the importance of dividend investing as a straightforward method for building long-term wealth and achieving financial independence [1]

Core Insights - The end of the government shutdown is a significant relief for small businesses, allowing them to resume operations and cash flow [2][3]. Group 1: Impact on Small Businesses - Small businesses are experiencing a resurgence as government payments resume, particularly benefiting defense contractors and tech suppliers [3]. - FS Credit Opportunities (FSCO), a small business lender, has a 3.7% stake in TCFIII Owl Finance, which is poised to benefit from the unlocking of contracts [4]. - FSCO also lends to Penn Foster, an online education platform, which can now restart funding and enrollments after federal job grants were frozen during the shutdown [5]. Group 2: Performance of FSCO - FSCO's net asset value (NAV) has increased by 1.7% in 2025 despite the disruptions caused by the shutdown [7]. - FSCO has maintained its monthly dividend payments, increasing from 6 cents to 6.8 cents per share, yielding 12.5% annually [8]. - The current trading price of FSCO is at a 10% discount to its NAV, presenting a potential opportunity for contrarian investors [10][11].

Core Viewpoint - Pool Corp. is currently facing challenges due to external economic factors, leading to a significant decline in stock price, yet it remains a fundamentally strong company with potential long-term investment appeal [1][2][3]. Company Performance - Pool Corp. has experienced a 56% decline from its peak stock price, attributed to consumers struggling with affordability in housing and large projects post-pandemic [1][2]. - The company's earnings per share (EPS) have decreased from their peak, with sales growth reported at just 1% in the third quarter of the current year [7]. Dividend Yield - The stock's dividend yield is currently nearly 2%, the highest it has been in over a decade, indicating a potential value opportunity for investors [6]. - Pool Corp. has a strong history of dividend payments, having raised its dividend for 14 consecutive years, which reflects its commitment to returning value to shareholders [5][6]. Financial Resilience - Despite the economic challenges, Pool Corp. has substantial recurring revenue streams and a modest dividend payout ratio, positioning it well to navigate current adversities [9]. - The company has a long-standing track record, suggesting that it may be a worthwhile investment while its stock price is down [9].