Tuesday, March 24, 2020

10 Dividend Growth Stocks For March 2020

The Dividend Champions [CCC] list contains nearly 900 dividend growth [DG] stocks trading on U.S. exchanges that have paid higher dividends for at least five consecutive calendar years. An accompanying spreadsheet provides valuable data and is updated monthly by SA author Justin Law.

In this article, I rank a subset of the CCC stocks and present the 10 top-ranked stocks for consideration. I now use DVK Quality Snapshots to assess the quality of dividend stocks and rank them by quality score, breaking ties by considering up to three quality metrics, in turn.

This month I decided to rank high-quality CCC stocks trading at least 10% below my fair value estimates. Fear related to the ongoing pandemic of coronavirus disease 2019 (COVID-19) has wreaked havoc in the markets, and economists expect a global recession in the first half of 2020. Many stocks on my watchlist now trade well below fair value and present opportunities for further investment.

The latest CCC list (dated 02/28/20) contains 867 stocks. There are 140 Dividend Champions with increasing calendar year payouts for the past 25 years; 294 Dividend Contenders (past 10-24 years); and 433 Dividend Challengers (past 5-9 years).

I decided to screen for DG stocks with quality scores in the range 20-25 that are trading at least 10% below my fair value estimates. Only 36 of the DG stocks in the CCC spreadsheet qualifies.

To see the top 10 ranked stocks for March 2020, please read this article at Seeking Alpha. As usual, I provide fair value estimates and key metrics, as well as FASTgraphs charts for a selection of DG stocks.

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