Dividend Growth: The Underappreciated Tailwind
Wednesday, January 24, 2024
We have shown that healthy, growing companies (characterized by high free cash flow yields and good revenue and earnings per share growth) are more likely to announce dividend increases, and are more likely to announce larger increases. In turn, bigger dividend increases are associated with better performance in the same year and in the following year.
Read the 4Q 2023 Quarterly Report: Dividend Growth: The Underappreciated Tailwind ►
Gregory Powell, PhD, oversees the Portfolio Management Team. Greg is the designated lead or co-lead Portfolio Manager on the firm’s core portfolios. In addition, he holds a position on Miller/Howard's Executive Committee. Greg joined Miller/Howard in 2017 and served as a portfolio manager and Deputy Chief Investment Officer. He was promoted to CIO in 2020, after the retirement of founder Lowell Miller. Prior to joining MHI, Greg had a distinguished 19-year career as a portfolio manager and director of research at AllianceBernstein. At AB, he managed a team of 12 analysts and a suite of products with $11 billion in AUM. He also served as head of fundamental value research there, redesigning the analyst role with an emphasis on investment success and training analysts in all aspects of the position. He holds a BA in Economics/Mathematics from the University of California Santa Barbara, and a PhD and MA in Economics from Northwestern University.