Top Strategies for Finding High Dividend Yield Stocks
Intro
In the vast expanse of the stock market, the allure of high-dividend stocks shines brightly. Investors are continuously on the lookout for opportunities to generate passive income and bolster their portfolios. It’s not just about finding stocks; it’s about identifying the right ones that align with your financial goals. This article aims to be a guiding hand through the thickets of dividends, providing insights into how to spot those stocks that yield the most without getting tangled in pitfalls.
Understanding the mechanics of dividend yields is essential for investors ranging from the greenhorn to the seasoned pro. With the right strategies in place, anyone can tap into the potential of high dividends.
Key Financial Terms
When embarking on the journey of dividend investing, having a grasp on key financial terms is not just helpful; it’s vital. Knowing the lingo can greatly enhance your analysis and decision-making process.
Definitions
- Dividend Yield: This is a financial ratio that indicates how much a company pays in dividends each year relative to its stock price. It's expressed as a percentage. For example, if a stock’s price is $100 and it pays an annual dividend of $5, the dividend yield is 5%.
- Payout Ratio: This is the fraction of earnings a company pays to its shareholders in the form of dividends. A high payout ratio might signify that a company is returning most of its profit to shareholders, while a low ratio may suggest that a company is reinvesting its earnings.
- Ex-Dividend Date: This is the cut-off date to determine which shareholders are entitled to receive the next dividend payment. If you buy a stock on or after this date, you won’t get the upcoming dividend.
Examples of Use
- When assessing a stock, an investor might say, "Company X has a dividend yield of 6%, making it an attractive option for those seeking income."
- A financial analyst might note, "With a payout ratio of 90%, Company Y is returning most of its earnings to shareholders, but we need to watch for sustainability."
Expert Tips
Now that we know some basics, let's delve deeper into strategies that can help investors maximize their dividends.
Beginner Strategies
- Start with Research: Before plucking a stock from the market, conduct thorough research. Look for companies with a history of consistent dividend payments. Always follow the trends.
- Look Beyond Just Yield: A high yield might be tempting, but always factor in the company’s overall financial health. Sometimes, a lower yield from a stable company can be a better pick than a high yield from a risky one.
Advanced Techniques
- Analyze Dividend Growth: Focus on companies that not only pay dividends but also increase them steadily. Companies with a solid track record of raising dividends can be a mark of financial strength and stability.
- Diversify Dividend Sources: Don’t put all your eggs in one basket. Consider a mix of dividend-paying stocks across different industries. This helps cushion against market volatility.
In summary, high-dividend investing should not be approached lightly. Equip yourself with knowledge, develop a strategy, and you'll be in a solid position to enhance your investment portfolio.
"Investing is not about timing the market but time in the market" - a phrase that rings particularly true for those navigating dividend stocks.
By applying these principles, both novice and seasoned investors can navigate the dividend investment landscape with confidence.
Understanding Dividend Stocks
When diving into the world of investing, it’s crucial to have a solid grasp on what dividend stocks are and why they hold a significant place in many investors’ portfolios. Dividend stocks are essentially shares in publicly traded companies that pay out a portion of their earnings to shareholders in the form of dividends. This feature is akin to the icing on a cake – it adds extra value, making an attractive investment even sweeter.
The importance of understanding dividend stocks lies in their potential to provide consistent income and stability in a fluctuating market. While many investors chase the allure of capital gains, those familiar with dividend stocks enjoy the added benefit of regular cash flow. This steady stream of income can be reinvested, saved, or used as a financial cushion in uncertain times.
Investors at any experience level might find dividend stocks appealing, as they often exhibit more stable price patterns compared to non-dividend payers. Pairing this with the meditative aspect of knowing you’re earning money simply by holding shares can create a sense of security that’s hard to come by elsewhere. Hence, understanding dividend stocks positions you to make informed decisions, not just regarding dividends themselves but also about the overall health of the companies behind them.
Definition of Dividend Stocks
Dividend stocks are shares in companies that distribute a portion of their earnings to shareholders at regular intervals, typically on a quarterly basis. These payouts can serve as a reward for investor loyalty and a means for companies to share their success. In simpler terms, if you own a stock and the company decides to share its profits with you, that’s a dividend. The amount of this dividend, per share, can vary widely depending on the company’s financial performance and policies.
You might encounter terms like ‘dividend yield’, which is a way to measure how much a company pays out in dividends relative to its share price. A higher yield can be enticing but assessing the sustainability of that yield is essential because it reflects the company’s willingness to maintain its dividend payment.
Importance in Investment Portfolios
Investing in dividend stocks is like having a trusty old friend in the financial world. They provide not only potential capital appreciation but also a reliable income source. This dual benefit can make them particularly appealing for both novices and seasoned investors alike.
Here are some reasons why integrating dividend stocks into your investment portfolio can be beneficial:
- Income Generation: Dividend stocks provide regular cash flow, making them an attractive choice for retirees or those seeking steady income.
- Lower Volatility: Companies that disburse dividends often exhibit slower price fluctuations, which can help mitigate risks during market downturns.
- Reinvestment Opportunities: Dividends can be reinvested to buy more shares, allowing investors to compound their returns over time, significantly boosting long-term gains.
- Signal of Financial Health: Regular dividend payments are often indicative of a company’s profitability and operational efficiency, as well as its long-term stability.
"Dividends are an essential part of the investment equation, providing tangible returns that matter in the long term."
In summary, understanding dividend stocks and their role in an investment portfolio is fundamental. They offer both stability and income, benefiting investors through consistent payouts and potential for growth. Whether you’re starting your investment journey or looking to diversify your holdings, embracing dividend stocks could be a wise strategic move.
Key Terminology
When navigating the realm of dividend stocks, it's crucial to get comfortable with specific terminology that can greatly impact investment decisions. Understanding these terms helps investors make informed choices and develop savvy strategies for identifying high-yield stocks. Let’s explore three essential terms: dividend yield, payout ratio, and ex-dividend date. Each of these terms plays a vital role in understanding the dynamics of dividends and can influence portfolio strategies significantly.
Dividend Yield
Dividend yield is typically one of the first metrics that catch an investor's eye. Simply put, it represents the yearly dividend payment of a company compared to its stock price, displayed as a percentage. High dividend yields often attract income-focused investors, making yield a gold-standard in assessing potential stocks.
To calculate it, the formula is:
A high yield can signal a company with strong cash flow capabilities or, conversely, it can suggest that the stock price has fallen due to underlying issues. Therefore, while a juicy yield can be tempting, it’s wise not to get lured in without a deeper peek into the company’s overall health. Investors should be cautious; sometimes, high yields can mask underlying risks.
Payout Ratio
Another term to have on your radar is the payout ratio. This figure indicates how much of a company's earnings are distributed to shareholders in the form of dividends. It’s calculated by taking the annual dividends and dividing it by the net income:
Investors often look for moderate payout ratios, as high payout ratios could suggest that a company is not reinvesting enough back into the business for growth. Just imagine pouring all your earnings into luxury while neglecting savings—it can leave you in a tight spot down the road. A sustainable payout ratio indicates balance; it suggests that the company can maintain dividends even during lean times.
Ex-Dividend Date
The ex-dividend date is another key aspect that’s crucial for dividend investing. This is the date on which a stock begins trading without the value of its next dividend payment. To ensure that you’re receiving dividends, you must purchase the stock before this date. If you buy on or after the ex-dividend date, the dividend will go to the seller. Essentially, if you’re looking to snag that sweet payout, timing is everything. Understanding this might feel a bit like knowing when to line up for the best slice of cake at a party—it’s all in the timing!
Key Takeaway: Understanding these terms opens the door to identifying stocks that not only have high dividend yields but also ensure long-term stability and growth for your investment portfolio. Balanced approaches toward dividend yield, payout ratio, and awareness of ex-dividend dates can set savvy investors apart from the crowd.
Evaluating Dividend Stocks
Evaluating dividend stocks is a linchpin in understanding how to effectively invest in these financial instruments. It nudges investors to not just look at the nominal rates being advertised, but to delve deeper into important factors that influence the sustainability and potential growth of those dividends.
One pivotal aspect is historical performance. Examining how a company has managed its dividend payouts over time can shed light on its reliability and resilience. If a stock has a track record of increasing dividends consistently, this signals not only stability but also a commitment to returning value to shareholders. Conversely, if the dividend has fluctuated or been cut, investors should tread cautiously - indicators could suggest underlying financial problems or shifting company priorities.
Another critical element is assessing company financials. Scrutinizing key financial metrics, such as earnings per share (EPS), profit margins, and overall revenue growth, provides insight into whether a company produces enough earnings to sustain or potentially increase its dividend payouts. The dividend payout ratio, which represents the portion of earnings paid out as dividends, can serve as a vital barometer. A dividend payout ratio that’s too high may indicate vulnerability if earnings dip, while a low payout ratio could suggest room for growth.
Analyzing Historical Performance
When evaluating a dividend stock, the first step is to scrutinize its historical dividend payments. Investors should not solely rely on the present yield percentage but need to consider the trend of these payouts over several years. Usually, companies that have established a consistent pattern of increasing dividends are considered more secure investments.
- Look for Dividend Aristocrats or Dividend Kings, which are companies that have raised dividends for decades.
- Analyze the company’s earnings growth in relation to dividend increases. If dividends are climbing at a faster pace than earnings, that might raise red flags.
Such historical lens aids investors in forming reasonable expectations about future dividend reliability.
Assessing Company Financials
Scrutiny of a company’s financial health is pivotal in the dividend evaluation process. A deeper dive into a company’s balance sheet can unearth critical details.
- Examine the Balance Sheet: Strong assets versus liabilities ratio indicates financial stability.
- Review Cash Flow Statements: Cash flow from operations is crucial. If a company is cash-rich, it is often a good sign that it can continue to pay dividends without issues.
- Look at Earnings Reports: Consistent revenue increases show strength and durability, attracting long-term investors.
Through this lens of financial analysis, informed investors can sift through noise in the market and capitalize on stocks that support their dividend goals.
Industry Comparisons
Lastly, industry comparisons can amplify the examination's rigor. Not every sector is created equal when it comes to dividends. By juxtaposing dividend yields within the same sector, investors can determine which companies are genuinely standing out.
- Peer Analysis: Compare how a stock’s yield stacks up against its peers. Is it considerably higher? Examine why - could it be a warning sign of underlying issues?
- Sector Trends: Some industries like utilities or consumer goods are known for high dividends, whereas tech might focus more on growth.
- Economic Conditions: Be aware of how broader economic shifts impact specific industries. For instance, during a downturn, sectors more tied to consumer spending may restrict or cut dividends drastically.
Performing sturdy evaluations on dividend stocks through all these channels helps to map a strategic approach in the chaotic landscape of stock investing. The aim is to uncover not just high yields, but stocks that embody strong fundamentals and long-term potential.
Current Market Leaders in Dividend Payments
When it comes to dividend investing, understanding the current market leaders in dividend payments is crucial. These stocks not only provide reliable income through dividends, but they also serve as indicators of broader market trends. By focusing on leading dividend payers, investors can identify stable and potentially lucrative opportunities, which can serve as the backbone of a solid investment strategy.
Investing in companies with high dividends can offer various benefits. Such stocks often belong to well-established firms with predictable revenue streams. This stability can cushion portfolios during turbulent times. In essence, consistently high dividends can act as a financial cushion, providing cash flow even when stock prices waver. Moreover, these dividend leaders can signify a company's commitment to returning value to its shareholders. A robust dividend can be an indicator of financial health, hinting that a company generates enough profit to reward its investors regularly.
This leads us to focus on some key elements to consider when evaluating these market leaders:
- Track Record: A history of steady or growing dividends can be a good sign. Stocks that have a solid track record may likely continue their pattern of payments.
- Dividend Yield: This measurement, calculated by dividing the annual dividend by the stock's price, can help gauge how attractive a dividend is in comparison to other investments.
- Market Conditions: Keeping an eye on economic factors can help understand how they might impact dividend payments. For instance, rising interest rates can affect dividend stocks differently compared to growth stocks.
In short, awareness of the current market leaders in dividend payouts helps investors navigate their choices better. It not only maximizes earning potential but also minimizes risks associated with abrupt market changes.
Top Dividend Stocks to Watch
Among the many companies known for their standout dividends, a few stocks consistently lead the pack. They are not only giants in their respective industries but also showcase resilience and a dedication to shareholder returns. Some of those stocks to keep an eye on include:
- AT&T: This telecommunications giant has a reputation for high dividend yields, often sought after by income-focused investors.
- Coca-Cola: Known for its iconic beverages, Coca-Cola has maintained a steady dividend, making it popular among dividend hunters.
- Johnson & Johnson: A stalwart in the healthcare sector, it continues its legacy of reliability through regular dividends to shareholders.
Investors should keep these companies in their sights, particularly for those seeking to build cash flow through dividends.
Sector Analysis: Where the Dividends Are
Different sectors exhibit varying levels of dividend payments, influenced by economic conditions and industry standards. Understanding where dividends flow the most can aid investors in making informed choices.
- Utilities: This sector is often rich in dividends. Companies like Duke Energy or NextEra Energy tend to have predictable cash flows, making them bonus providers of dividends.
- Consumer Staples: Stocks in this category, such as Procter & Gamble or Unilever, are renowned for consistent payouts. They thrive even in economic downturns because people still need everyday goods.
- Healthcare: Within this sector, many pharmaceutical companies demonstrate reliability in their dividend payments while continuing to innovate and expand.
Dividend Reinvestment Strategies
Dividend reinvestment strategies have become a critical aspect of maximizing returns from dividend stocks. By opting to reinvest dividends instead of cashing them out, investors can accelerate their growth potential over time. This method can be particularly attractive for both novice and seasoned investors who wish to build wealth systematically.
Benefits of Dividend Reinvestment Plans (DRIPs)
Reinvesting dividends through Dividend Reinvestment Plans (DRIPs) offers several important benefits:
- Enhanced Compounding: This is the name of the game. When dividends are reinvested, they buy more shares, leading to even greater dividend payments in subsequent periods. Each dividend payment can contribute to further purchases, creating a snowball effect.
- Dollar-Cost Averaging: Regular reinvestment buys shares regardless of the market price. This strategy can lower the average cost per share over time, providing a buffer against market volatility. It also helps spread out investment risk, as shares are acquired at different price points rather than all at once.
- Automated Growth: Many brokerages offer DRIPs that automate the process. Investors can set it and forget it, allowing their money to work for them without active management.
- Tax Efficiency: Brenifty, reinvesting dividends may delay tax payments on gains. Since these dividends can be re-invested, it can help reduce taxable income in the short term.
Adopting DRIPs can align with a long-term growth strategy, making it easier for investors to align with financial goals.
Compounding Returns Over Time
Compounding is a concept that can be summed up in one word: patience. As dividends are reinvested, the effective returns compound over periods. When an investor sees a stock paying consistent dividends and chooses to reinvest, they often witness how time can magnify their returns.
Let’s break it down:
- Initial Investment: Imagine you start with $1,000. If that stock pays a 5% dividend, you will receive $50 at the end of the year. If you reinvest that $50 rather than cashing it in, you now have $1,050 in stock.
- Growing Investment: In the second year, with the same 5% yield, your dividend payment would increase because your base is now larger. You're collecting dividends not just on your original investment but on your reinvested dividends too.
Over time, these incremental gains create returns that can outstrip any initial expectations. By keeping an eye on dividend yields and finding stocks with sustainable payout ratios, investors can capitalize on this compounding magic.
"Time is the friend of the wonderful company, the enemy of the mediocre." - Warren Buffett
When considering strategies for reinvestment, keep in mind the overall health of the company whose stock you hold. Reinvesting is more advantageous when you believe in long-term growth and stability. As always, due diligence is a must.
Risks Associated with Dividend Investing
When it comes to dividend investing, it’s crucial to acknowledge the risks involved. This topic isn’t simply an afterthought; it forms the backbone of prudent investment strategies. Understanding the potential pitfalls can help investors make informed decisions that align with their financial goals. Without a proper assessment of these risks, the charm of high dividends can quickly turn sour, leading to unexpected losses.
Understanding Potential Downturns
Dividend stocks, while often seen as a safe haven, are not immune to market fluctuations. Economic downturns can lead to significant declines in stock prices, even for companies with a history of reliable dividends. When economic conditions sour, companies may feel the pinch, and their stock performance can dip. Consequently, this could affect the dividends paid out to shareholders.
For instance, during financial crises, a once robust dividend might shrink or vanish altogether. Investors must keep a close eye on the broader economic indicators—unemployment rates, inflation, and consumer spending can greatly affect corporate profitability. If a company begins to show poor performance, the dividend safety net might fray or, in the worst-case scenario, disappear entirely.
"In investing, what is comfortable is rarely profitable."
Assessing Dividend Cuts and Suspensions
One of the stark realities of dividend investing is the possibility of dividend cuts or suspensions. Companies may announce such changes during tough times, leaving investors scrambling to reassess their holdings. The payout ratio is an essential metric to monitor. If a company is paying out more in dividends than it earns, it risks future cuts. Investors should always look for companies with a sustainable payout ratio, preferably below 60%, as this signals a healthy ability to maintain dividends even in challenging times.
To minimize the risk of surprises, regular financial analysis is key. Scrutinizing earnings reports, listening to earnings calls, and watching management guidance can provide insights into a company’s health. If the management expresses concerns about future earnings, it could signal potential changes in dividend policy.
Tax Implications of Dividend Income
Understanding the tax implications of dividend income is crucial for both new and seasoned investors. Navigating taxes on dividends can feel like walking a tightrope; one misstep can significantly affect your overall returns. As such, grasping how dividends are taxed mellows down what might otherwise be a harrowing experience into a more manageable undertaking. The implications extend beyond just understanding tax rates; it also encompasses how to strategize around these to maximize your profit while keeping Uncle Sam satisfied.
When engaging with dividend stocks, it’s essential to know that dividends fall into different categories, most notably qualified and ordinary dividends. Why does this matter? The tax rates applied can differ dramatically, which means your after-tax return from your dividend-paying investments could vary widely based on how your dividends are classified.
Tax Rates on Qualified Dividends
Qualified dividends usually garner lower tax rates than their ordinary counterparts. In the United States, these dividends are taxed at capital gains rates, which can range from 0% to 20%, depending on your income bracket. To qualify, dividends must meet specific criteria:
- U.S. Stock: Must be paid by a domestic corporation or a qualified foreign corporation.
- Holding Period: You need to hold the stock for a specific period, generally more than 60 days over a 121-day period surrounding the ex-dividend date.
- Regularity: They should be normal dividend payments, not necessarily derived from certain special situations, like liquidations.
For instance, if you invest in Coca-Cola, whose dividends are usually qualified, and fall within the newly adjusted tax bracket, this could mean more money in your pocket compared to ordinary dividends paid by other companies. The actual effective rate you pay on qualified dividends can significantly influence your returns, providing a compelling incentive to select your dividend stocks wisely.
Strategies for Minimizing Tax Liabilities
Even when you comprehend how dividends are taxed, wise investors know that managing tax liability can be more than just understanding rates. Here are some strategies to consider when looking to minimize tax impacts on your dividend income:
- Use Tax-Advantaged Accounts: Investing through Individual Retirement Accounts (IRAs) or 401(k) plans can defer taxation on dividends until withdrawals are made, giving your investments room to grow without the immediate sting of taxes.
- Tax-Loss Harvesting: This involves selling investments at a loss to offset the taxes on gains made elsewhere, including on dividends. While this requires strategic monitoring, it can bridge gaps in tax liabilities effectively.
- Dividend Reinvestment Plans (DRIPs): While reinvesting dividends can compound growth, being strategic about when to reinvest might minimize the available dividends subject to tax. In some cases, you might opt to take cash dividends and reinvest only partially, aiding tax planning.
- Stay Informed and Adapt: Tax laws frequently change, much like the market conditions. Keeping abreast of these changes, possibly even engaging with a financial adviser or tax professional, may help tweak strategies to suit current laws.
As you prance through the world of dividends, remember that with every dollar earned comes a tax responsibility. The more informed you are about the nuances of dividend taxation, the better equipped you’ll be to make investment decisions that enhance your portfolio while deftly navigating tax obligations.
Impact of Economic Factors on Dividends
Evaluating dividends isn't just limited to crunching numbers in a vacuum. It’s vital to recognize that external economic factors play a significant role in how dividends are set, adjusted, or maintained. The interconnectedness of the economy can subtly but insistently influence dividends, shaping the landscape for both investors and companies alike. Understanding these factors adds another layer to the investment puzzle, especially when your goal is to identify stocks with the highest dividend yields.
Interest Rates and Their Role
Interest rates are a hot topic in financial circles for good reason. When interest rates go up, borrowing becomes costlier, impacting company profits. Firms might scale back on dividend payouts during these times because they need to retain more funds for operation or growth. Conversely, if rates drop, companies enjoy lower borrowing costs, which might free up cash for dividend distribution.
A few things to consider:
- Cost of Capital: Higher interest rates increase the cost of capital. Companies may prioritize reinvesting earnings over distributing them as dividends, especially in growth phases.
- Attractive Alternatives: When interest rates rise, fixed-income options like bonds become more appealing. This might pressure dividend-paying stocks, causing their prices to dip.
- Historical Trends: Monitoring interest rate trends can give clues regarding future dividend policies. Firms typically adjust their strategies based on the economic environment.
"Understanding the relationship between interest rates and dividends can provide insight into potential shifts in a company’s financial strategy."
Inflation Considerations for Dividend Investors
Inflation—it’s a reality check for any investor navigating the stock market terrain. High inflation effectively erodes purchasing power, which can lead to greater scrutiny of dividend yields. If inflation persists, real returns on dividend-paying stocks can take a hit if dividends don’t keep pace with rising prices.
Here are key points to ponder:
- Dividend Growth: Not all companies keep their dividends increasing in line with inflation. Savvy investors therefore need to assess a company’s historical dividend growth against inflation rates.
- Sector Performance: Certain sectors, such as utilities or consumer staples, might fare better during inflationary times compared to others. These sectors often depend on steady income and have a culture of passing along costs to consumers.
- Real Returns: It's important for investors to evaluate not just the nominal dividend yield but also how it holds up in real terms against current inflation rates.
In essence, paying attention to interest rates and inflation isn't just about keeping up with the news; it’s about making informed decisions that could significantly impact one’s investment portfolio. Balancing these economic elements can help discerning investors make choices that align with their financial goals.
Long-term Outlook for Dividend Stocks
The long-term outlook for dividend stocks provides crucial insight for investors contemplating their future strategies. These stocks often serve as a reliable avenue for both income generation and capital appreciation. Investors need to be aware that while stock prices may fluctuate in the short term due to market conditions, dividends, when consistently paid, reflect a company’s financial health and commitment to returning value to shareholders. Therefore, monitoring the trajectory of dividend-paying stocks can unveil broader market trends and sector performances.
Investing in dividend stocks generally comes with several benefits:
- Steady Income: Many investors consider dividends as a predictable income stream, apt for retirement or steady cash flow requirements.
- Total Return: Over time, dividend payments can contribute significantly to overall returns, often surpassing capital gains from stock prices.
- Market Resilience: Historically, dividend-paying stocks tend to outperform non-dividend payers during economic downturns, offering a degree of protection.
As we look ahead, understanding emerging trends and adjustments in sectors becomes vital for making informed investment decisions. This understanding enables investors to align their portfolios according to evolving market dynamics, ensuring that they can navigate any economic shifts that may arise.
Trends to Monitor in the Coming Years
Several trends are poised to shape the landscape of dividend stocks in the near future. Noteworthy among them are:
- Technological Integration: Companies are increasingly leveraging automation and AI, which can improve profitability and allow for increased dividend distributions.
- Evolving Consumer Preferences: Shifts towards sustainable and ethical investing mean that companies focusing on social responsibility may become favored dividend payers.
- Interest Rate Changes: Rising interest rates may prompt companies to reevaluate their dividend policies, ensuring that payout ratios remain sustainable.
Additionally, investors will want to keep an eye on companies that are actively involved in share buybacks as these can impact dividend yields and overall stock attractiveness.
Sector Shifts and Dividend Sustainability
It's essential to consider sector shifts when looking at dividend sustainability. Exposure to varied sectors can diversify risk and enhance income through dividends. For instance:
- Utilities and Consumer Staples: These sectors frequently provide stable dividends due to consistent demand for their products and services, regardless of economic conditions.
- Tech and Innovation: Some technology firms are beginning to initiate dividends, reflecting their maturity and stable cash flow, transforming the traditional view on tech stocks.
- Health Care: With an aging population, health care companies are likely to maintain robust dividend payouts, making them appealing long-term investments.
Proper sector analysis will arm investors with the knowledge to forecast potential shifts and consequently enable tailored strategizing when it comes to constructing their portfolios.
Understanding these shifts will ensure that investors recognize which sectors are gaining traction and which may be on the decline, thus safeguarding their investments against erratic market behaviors while focusing on opportunity areas within the high-dividend space.
