Word: kuenstner
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Dates: during 2003-2003
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...DEBORAH KUENSTNER: We are rethinking companies we already own that could surprise the market by initiating a dividend or raising one they already pay--and getting ready to buy more. AIG [0.3%] pays a small dividend and is in this category. We also like Exxon Mobil. They have a decent yield around 2.8%, but our guess is they would do what would be most shareholder friendly, which is to pay out more in dividends...
...KUENSTNER: The market right now is saying, "Let's give a valuation kick to those stocks that already have high yields." But the next step is going to be the market finding those that currently pay modest dividends but have the wherewithal, like Microsoft, to pay more. And there will be pressure on certain nondividend companies, like Federated Department Stores [0%], to initiate one. Anybody who thinks department stores are a growth industry has questionable business acumen. They should pay a dividend...
...KUENSTNER: Companies with pricing power will still be scarce. But exceptions may be in property and casualty insurers like AIG, and in natural gas, with Apache [0.7%] and GlobalSantaFe [0.6%], an offshore-drilling contractor. They all have a positive cycle in front of them. In health care, Pfizer would be our pick, and we own J.C. Penney [2.6%] as a turnaround...
...want to focus on companies with steady profits that are already paying a dividend. "They have the ability to keep paying and raising their dividend and have demonstrated the willingness," says Deborah Kuenstner, head of value investing at Putnam Investments. Her picks include power companies Entergy and Florida Power, oil company ExxonMobil and consumer-products maker Procter & Gamble. Other analysts like drugs (Pfizer, Wyeth), financials (AIG FleetBoston) and phones (Verizon, SBC). Proven funds that target dividends: T. Rowe Price Dividend Growth and Capital Income Builder...
...want to focus on companies with steady profits that are already paying a dividend. "They have the ability to keep paying and raising their dividend and have demonstrated the willingness," says Deborah Kuenstner, head of value investing at Putnam Investments. Her picks include power companies Entergy and Florida Power, oil company ExxonMobil and consumer-products maker Procter & Gamble. Other analysts like drugs (Pfizer, Wyeth), financials (AIG FleetBoston) and phones (Verizon, SBC). Proven funds that target dividends: T. Rowe Price Dividend Growth and Capital Income Builder...