Company Overview - Citizens Community Bancorp, Inc. (CZWI) is headquartered in Eau Claire and operates in the Finance sector [3] - The stock has experienced a price change of 3.65% since the beginning of the year [3] Dividend Information - The company currently pays a dividend of $0.10 per share, resulting in a dividend yield of 2.27% [3] - This yield is lower than the Financial - Savings and Loan industry's yield of 2.63% and higher than the S&P 500's yield of 1.38% [3] - The annualized dividend of $0.42 represents a 16.7% increase from the previous year [4] - Over the past 5 years, CZWI has increased its dividend 5 times, averaging an annual increase of 11.77% [4] - The current payout ratio is 25%, indicating that the company pays out 25% of its trailing 12-month EPS as dividends [4] Earnings Growth Expectations - For the fiscal year, CZWI anticipates solid earnings growth, with the Zacks Consensus Estimate for 2026 at $1.75 per share, reflecting a year-over-year growth rate of 19.86% [5] Investment Considerations - High-growth firms or tech start-ups typically do not offer dividends, while established companies with secure profits are preferred for dividend investments [6] - CZWI is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [6]

Financial Data and Key Metrics Changes - The company reported GAAP earnings of $2.5 million for Q4 2025, with earnings available for distribution (EAD) at approximately -$500,000, leading to a per diluted share of $0.06 [8][9] - The common stock dividend yield is 8.7%, and the company has about $100 million in cash and liquidity [9][10] - The company is trading at roughly 50% of book value, with total equity in the vehicle at $300 million [6][7] Business Line Data and Key Metrics Changes - The company aims to grow its multifamily lending business, projecting production between $6 billion and $7 billion for the year, up from $1.7 billion previously [11] - The company has identified a pool of assets worth around $1 billion that could be added to the vehicle, which would lead to an immediate increase in earnings [30] Market Data and Key Metrics Changes - The commercial real estate sector is currently dislocated, with many REITs and BDCs trading poorly due to liquidity issues [9][10] - The company is optimistic about the office segment within commercial real estate, despite recent market volatility [14] Company Strategy and Development Direction - The company is focused on a potential recapitalization to enhance earnings and dividend growth, targeting earnings of $1.60 to $1.70 per share [5][11] - The strategy includes acquiring multifamily loans from its operating business, Genesis, and pursuing opportunistic investments in commercial real estate [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed a commitment to patience in executing their strategy, emphasizing the importance of market stabilization before proceeding with significant capital raises [10][15] - The management team highlighted the diversified earning streams within the company, which can mitigate risks associated with underperforming segments [14] Other Important Information - The company announced a reverse stock split of 6-to-1 to attract more interest in its stock [4] - The management team is exploring opportunities to become a Fannie Mae and Freddie Mac servicer or originator in the multifamily space [11][12] Q&A Session Summary Question: Will RPT receive a slice of the NOI from the Paramount transaction? - Management indicated that RPT has $50 million of the Paramount deal on its balance sheet, and earnings will be pro rata based on Rithm's performance [19] Question: Are there plans to increase loans from Genesis? - Management confirmed that Genesis is expected to produce $6 billion to $7 billion in loans, which will be accretive to RPT [20] Question: Is there a tolerance for finding other sources of capital? - Management acknowledged the possibility of bringing in third-party capital but emphasized the need to avoid dilutive actions [28] Question: What types of loans will RPT focus on? - Management stated that the primary focus will be on multifamily loans generated by Genesis, which are expected to be highly accretive [30] Question: Is there an opportunity to acquire from banks? - Management noted that banks are currently not significant sellers, but there is demand for the products that Genesis is producing [41]

Earnings Report - Medtronic plc is set to release its third-quarter earnings on February 17, with analysts expecting earnings of $1.34 per share, a decrease from $1.39 per share in the same period last year [1] - The consensus estimate for quarterly revenue is $8.9 billion, up from $8.29 billion reported last year [1] - Needham analyst Mike Matson upgraded Medtronic from Hold to Buy, setting a price target of $121 [1] Dividend Information - Medtronic currently offers an annual dividend yield of 2.82%, translating to a quarterly dividend of 71 cents per share, or $2.84 annually [2] - To generate $500 monthly or $6,000 annually from dividends, an investment of approximately $213,159 or around 2,113 shares is required [2] - For a more modest income of $100 per month or $1,200 annually, an investment of $42,672 or around 423 shares is needed [2] Dividend Yield Dynamics - Dividend yield can fluctuate based on changes in both the dividend payment and the stock price [3] - For instance, if a stock with a $2 annual dividend is priced at $50, the yield is 4%, but if the price rises to $60, the yield drops to 3.33% [4] - Conversely, if the stock price falls to $40, the yield increases to 5% [4] - Changes in dividend payments also affect yield; an increase in dividends raises yield if the stock price remains constant [5] Stock Performance - Medtronic's shares fell by 0.2%, closing at $100.88 on Thursday [5]

Core Viewpoint - Clorox's 4.07% dividend yield is attractive but faces challenges due to operational turbulence and margin pressure, raising questions about sustainability in the face of potential risks ahead [1][2] Dividend Performance - Clorox paid $1.24 per share on February 13, 2026, marking 48 consecutive years of dividend increases, with a total dividend payout of $602 million for fiscal 2025 [1] - The company generated $981 million in operating cash flow, resulting in a 61.4% payout ratio, indicating adequate coverage of the dividend [1] - Free cash flow for fiscal 2025 was $761 million, providing 1.26x coverage after capital expenditures, a recovery from fiscal 2024's 0.81x coverage [1][2] - The dividend has grown 33.8% from $450 million in fiscal 2018 to $602 million in fiscal 2025, with a compound annual growth rate of approximately 5.2% [1] Yield Context - Clorox's 4.07% yield is significantly higher than Procter & Gamble's 2.63% and Kimberly-Clark's 4.76%, reflecting investor skepticism about Clorox's near-term prospects [1] - The stock has seen a year-to-date gain of 26.21% as of February 12, 2026, but is down 11.86% over the past year and 20.32% over five years, indicating a depressed stock price of $125.82 [1] Operational Challenges - Clorox's gross margin has compressed to 43.2% due to consumers opting for cheaper alternatives, with management projecting only flat to 1% organic growth for the latter half of fiscal 2026 [1] - The company's profit margin of 11.2% and operating margin of 14.1% are below those of Procter & Gamble, highlighting an efficiency disadvantage [1] Strategic Moves - Clorox's $2.25 billion acquisition of GOJO Industries aims to strengthen its health and hygiene portfolio but introduces integration risks during a challenging operational period [1] - The company faces a $14.15 million fine from the Consumer Product Safety Commission for delayed warnings about bacterial contamination in Pine-Sol products, involving 37 million bottles recalled [1] Future Outlook - Management has reaffirmed fiscal 2026 adjusted earnings guidance of $5.95 to $6.30 per share, projecting gross margin expansion in the latter half of the year [1] - The upcoming CAGNY Conference on February 19, 2026, will be critical for investors to assess guidance for fiscal 2027 and the timeline for margin recovery [2]

Core Viewpoint - Virtus Investment Partners has maintained a quarterly dividend of $2.40 per share, reflecting a 6.56% yield, but faces significant cash flow challenges that may jeopardize its ability to sustain this payout strategy [2][8]. Dividend Growth and Cash Flow - The recent dividend of $2.40 marks a 6.7% increase from the previous quarter's $2.25, continuing a trend of annual increases in the fourth quarter [3]. - Over the past decade, the company has achieved a compound annual growth rate (CAGR) of approximately 16%, growing its quarterly dividend from $0.45 in 2014 to $2.40 today [3]. - In fiscal 2024, Virtus generated only $1.8 million in operating cash flow, a dramatic 99.3% decline from $237.2 million in the prior year, while paying out $58.1 million in dividends, resulting in a payout ratio exceeding 3,000% based on operating cash flow [4][6]. Financial Metrics - The current dividend yield stands at 6.56%, with a payout ratio based on operating cash flow at 3,312% [5]. - The company borrowed $74.9 million to fund dividends and buybacks amid the cash flow collapse [6]. - Operating cash flow rebounded to $108.3 million in Q3 2025 after the significant drop in 2024 [6]. Market Position and Valuation - Virtus's trailing P/E ratio is 7.1x, and the forward P/E is 7.66x, indicating that the market is factoring in considerable challenges [10]. - The net income for fiscal 2024 was $152.5 million, leading to a dividend payout ratio of 38% based on earnings, which appears sustainable, although cash flow remains a critical concern for dividend investors [10]. Operational Challenges - The decline in cash flow is attributed to operational difficulties, with assets under management decreasing by 9% year-over-year to $159.5 billion, driven by $8.1 billion in net outflows during Q4 2025 [11]. - Large-cap growth and small/mid-cap equity strategies experienced significant redemptions from both institutional and retail clients [12].

Core Viewpoint - Colgate-Palmolive maintains a 63-year streak of dividend increases, with a current yield of 2.19%, which is lower than competitors like Kimberly-Clark and Procter & Gamble, raising questions about its premium valuation against modest revenue growth [1][2]. Dividend Scorecard - Colgate's quarterly dividend of $0.52 translates to an annualized $2.06 per share, yielding just over 2% at current prices around $97.16 [1]. - The yield is below competitors, with Kimberly-Clark at 4.76% and Procter & Gamble at 2.63% [1]. - Colgate trades at a P/E ratio of 36, significantly higher than Kimberly-Clark's 22, indicating a premium valuation based on brand reliability rather than income generation [1]. Growth vs. Income - Colgate increased its dividend by 4% in early 2025, aligning with peers like PepsiCo and Coca-Cola, which raised dividends by 5% and 5.15% respectively [1]. - The payout ratio is 80%, based on fiscal 2025 net income of $2.13 billion and an annualized dividend run rate of approximately $1.7 billion [1]. Earnings Quality and Coverage Capacity - Colgate generated $4.35 billion in operating income and $3.96 billion in EBITDA for fiscal 2025, indicating strong capacity to meet dividend obligations [1]. - The operating margin stands at 21%, showcasing pricing power in its product categories despite slowing revenue growth [1]. Total Return Context - Colgate shares have appreciated 23.71% year-to-date and 14.75% over the past year, contributing to a total return of nearly 17% annually when dividends are reinvested [1]. - In contrast, Kimberly-Clark's shares declined by 14.89% over the past year despite a higher yield [1]. Valuation Premium - Colgate's P/E ratio of 36 and PEG ratio of 3.6 reflect market optimism about future growth, although this premium leaves less room for error in case of operational setbacks [1]. - The price-to-sales ratio of 3.78 is higher than most consumer staples peers, indicating strong brand strength but also potential vulnerability [1]. Peer Comparison - Colgate is positioned in the middle among consumer staples, lacking the diversification of Procter & Gamble and the scale of PepsiCo [1]. - Its focus on oral care, personal care, and pet nutrition allows for resilient cash generation, even with moderated revenue growth [1]. Dividend Aristocrat Premium - The 63-year dividend increase streak signifies management discipline and a strong shareholder-first culture, surviving various economic challenges [1]. - However, aristocrat status does not guarantee future returns, as consistent dividends do not ensure price appreciation without earnings growth [1].

Group 1: Company Updates - Palo Alto Networks has completed its acquisition of CyberArk for $45 per share in cash and 2.2005 shares of Palo Alto stock [1] - Millrose Properties is set to release its fourth-quarter financial results on February 26 [2] - Visa reported quarterly earnings of $3.17 per share, exceeding the consensus estimate of $3.14, with quarterly revenue of $10.9 billion, surpassing the Street estimate of $10.69 billion [3] - Apple reported fiscal first-quarter revenue of $143.76 billion, beating analyst estimates of $138.42 billion, and earnings of $2.84 per share, exceeding estimates of $2.66 per share [4] Group 2: Stock Performance - Palo Alto shares fell 0.1% to close at $165.30 [5] - Millrose Properties shares gained 1.1% to close at $31.84 [5] - Visa shares gained 0.3% to settle at $329.24 [5] - Apple shares gained 0.7% to settle at $275.50 [5]

Earnings Report - PG&E Corporation is set to release its fourth-quarter earnings on February 11, with analysts expecting earnings of 36 cents per share, an increase from 31 cents per share in the same period last year [1] - The consensus estimate for PG&E's quarterly revenue is $7.05 billion, up from $6.63 billion reported last year [1] Dividend Information - PG&E currently has an annual dividend yield of 1.19%, translating to a quarterly dividend of 5 cents per share, or 20 cents annually [2] - To achieve a monthly income of $500 from dividends, an investor would need to own approximately 30,000 shares, equating to a total investment of about $502,500 [3] - For a more conservative monthly income goal of $100, an investor would need 6,000 shares, requiring an investment of around $100,500 [3] Dividend Yield Dynamics - The dividend yield is calculated by dividing the annual dividend payment by the current stock price, which means it fluctuates with changes in stock price [4] - For instance, if a stock pays an annual dividend of $2 and its price rises from $50 to $60, the dividend yield decreases from 4% to 3.33% [4] - Conversely, if the stock price drops to $40, the yield increases to 5% [4] Market Performance - PG&E shares increased by 2.5%, closing at $16.75 on Tuesday [5] Analyst Ratings - Ahead of the quarterly earnings, Wells Fargo analyst Shahriar Pourreza maintained an Overweight rating on PG&E and raised the price target from $23 to $24 [6]

Earnings Report - PG&E Corporation is set to release its fourth-quarter earnings on February 11, with analysts expecting earnings of 36 cents per share, an increase from 31 cents per share in the same period last year [1] - The consensus estimate for PG&E's quarterly revenue is $7.05 billion, up from $6.63 billion reported last year [1] Dividend Information - PG&E currently has an annual dividend yield of 1.19%, translating to a quarterly dividend of 5 cents per share, or 20 cents annually [2] - To achieve a monthly income of $500 from dividends, an investor would need to own approximately 30,000 shares, equating to a total investment of about $502,500 [3] - For a more conservative monthly income goal of $100, an investor would need 6,000 shares, requiring an investment of around $100,500 [3] Dividend Yield Dynamics - The dividend yield is calculated by dividing the annual dividend payment by the current stock price, which means it fluctuates with changes in stock price [4] - For instance, if a stock pays an annual dividend of $2 and its price rises from $50 to $60, the dividend yield decreases from 4% to 3.33% [4] - Conversely, if the stock price drops to $40, the yield increases to 5% [4] Market Performance - PG&E shares increased by 2.5%, closing at $16.75 on Tuesday [5] Analyst Ratings - Ahead of the quarterly earnings, Wells Fargo analyst Shahriar Pourreza maintained an Overweight rating on PG&E and raised the price target from $23 to $24 [6]

Earnings Report - Ford Motor Company is set to release its fourth-quarter earnings on February 10, with analysts expecting earnings of 18 cents per share, a decrease from 39 cents per share in the same period last year [1] - The consensus estimate for Ford's quarterly revenue is $41.53 billion, up from $35.92 billion reported last year [1] - Ford has exceeded analyst revenue estimates in seven of the last ten quarters, including three consecutive quarters [1] Dividend Information - Ford currently has an annual dividend yield of 4.42%, translating to a quarterly dividend of 15 cents per share, or 60 cents annually [2] - To generate $500 monthly or $6,000 annually from dividends, an investment of approximately $135,900 or around 10,000 shares is required [2] - For a more modest income of $100 per month or $1,200 annually, an investment of $27,180 or around 2,000 shares is needed [2] Dividend Yield Mechanics - The dividend yield is calculated by dividing the annual dividend payment by the stock's current price [3] - An increase in stock price results in a lower dividend yield, while a decrease in stock price leads to a higher yield, assuming the dividend payment remains constant [3][4] - Changes in the dividend payment also affect the yield; an increase in dividends raises the yield if the stock price stays the same, while a decrease lowers it [4] Stock Performance - Ford's shares fell by 1.5%, closing at $13.59 on Monday [4]