The Multi- Sector Dividend Growth Portfolio: This strategy is designed for conservative equity investors who seek above average current income with relatively modest market risk. In selecting stocks for this Portfolio, we focus on well-established companies which, in our opinion, have low business and financial risk, attractive dividend yields, and some measure of capital appreciation potential. In addition, we emphasize consistency of dividends and potential for dividend growth. Such investments generally include utilities, Real Estate Investment Trusts (REITs), and Master Limited Partnerships (MLPs); but they may also include shares of any company with a relatively high current distribution yield and low relative risk.


  • For purposes of this portfolio, our goal is to continue to deliver an attractive yield with modest   market risk from companies we believe are well-suited to the risk metric of conservative investors. We continue to believe that within this performance opportunity, dividends are key.

  • We make changes to the Multi-Sector Dividend Portfolio based primarily on fundamental changes in the underlying business, such as balance sheet deterioration, declining cash flows, rising dividend payout ratios, or other changes that could negatively impact the company’s ability to pay its dividend. We also take into consideration market activity and valuation. Removal from the list does not necessarily imply that investors should sell a stock.

  • Stocks with high and apparent sustainable dividend yields that are competitive with high quality bond yields may be more resistant to a decline in price than lower-yielding securities because the stock is in effect “yield supported”. The reinvestment of dividends during stock market declines  has also been shown to lessen the time necessary to recoup portfolio losses.