My favorite asset, hands down, is probably one of my smallest, and that is my non-qualified brokerage account where I handle both naked put trades and my dividend growth stocks (and ETFs). It has been a while since I reviewed my individual holdings, and what better time then Q1 of a new year.

My current holdings to review:

  1. AFL AFLAC INC 17.70%
  2. ADM ARCHER-DANIELS MIDLA 3.12%
  3. CSL CARLISLE COS INC 4.51%
  4. CARR CARRIER GLOBAL CORP 2.54%
  5. CB CHUBB LTD 6.20%
  6. CINF CINCINNATI FINL CORP 3.34%
  7. CTBI COMMUNITY TR BANCORP 5.90%
  8. EMR EMERSON ELEC CO 5.49%
  9. XOM EXXON MOBIL CORP 1.72%
  10. GD GENERAL DYNAMICS COR 1.92%
  11. ORI OLD REP INTL CORP 9.33%
  12. OTIS OTIS WORLDWIDE CORP 1.77%
  13. PH PARKER-HANNIFIN CORP 4.72%
  14. RBCAA REPUBLIC BANCORP INC A 1.75%
  15. SJM SMUCKER J M CO 1.99%
  16. SON SONOCO PRODS CO 1.84%
  17. WLK Westlake Corp 2.55%

The above percentages do not equal 100% because the remaining amounts are allocated to ETFs that I purchased through 2023 and 2024.

Checking Dividend History & Key Metrics

My first concern is to make sure that none of my holdings stalled or cut on their dividends. I am using SureDividend’s “Dividend Champion” spreadsheet to pull these numbers as of January 7, 2025:

  1. AFL – 43 Years of Dividend Increases. 27% Payout Ratio. 15 Trailing PE. Keep
  2. ADM – 51 Years of Divided Increases. 55% Payout Ratio. 13 Trailing PE. Keep
  3. CSL – 48 Years of Dividend Increases. 12% Payout Ratio. 13 Trailing PE. Keep
  4. CARR – Not Included In Spreadsheet.
  5. CB – 32 Years. 8% Payout. 7 PE. Keep
  6. CINF – 64 Years. 15% Payout. 7 PE. Keep
  7. CTBI – 44 Years. 42% Payout. 12 PE. Keep
  8. EMR – 68 Years. 61% Payout. 37 PE. Review
  9. XOM – 42 Years. 50% Payout. 14 PE. Keep
  10. GD – 33 Years. 41% Payout. 20 PE. Keep
  11. ORI – 43 Years.29% Payout. 9 PE. Keep
  12. OTIS – Not Included in Spreadsheet
  13. PH – 68 Years. 27% Payout. 30 PE. Keep
  14. RBCAA – 24 Years. 39% Payout. 12 PE. Keep
  15. SJM – 28 Years. 85% Payout. 21 PE. Review
  16. SON – 48 Years 69% Payout. 16 PE. Review
  17. WLK – Not Included in Spreadsheet

Taking a Deeper Look Under the Hood

  • CARR – A spin-off from UTX and RTX merger. They have increased their dividend since insititing one in 2020, and are in a very boring but needed business (HVAC). With a low 20% Payout Ratio this is a Keep.
  • EMR – I have had this position for years, but I don’t love the high payout coupled with a high PE. Taking a look at the PE history we are high right now, but I am going to ignore this Fortune 100 for right now.
  • OTIS – Another spin off from UTX and RTX mereger. Again, they have increased their dividend since insititing one in 2020, and are in a very boring but needed business (Elevators)
  • SJM – I can’t ignore that payout! It feels like things are only going to get more expensive for them anyway. I am going to clear out this position. Any proceeds will stay in cash and be redeployed into an ETF when the assigned shares are cleared up (sale price $107.00)
  • SON – I don’t love the payout but the difference between that and SJM is that SON, but I want to give this a bit more time to run. Keep.
  • WLK – Didn’t hit the dividend champion list with only 19 years of growth, but what got me was a 280% payout ratio according to KoyFin and a few others. SELL, again, after the assigned shares are cleared up the proceeds will be the first amount that hits the ETF (Sale price $117).

I am going to get in the habit of doing this type of quick analysis twice a year.

Dividends

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