This week we have a shorter podcast than usual as EDGI was traveling ( and is recording from the airport) and the Irish Storm played havoc with Derek. This week we look at the earnings from JNJ, TXN and PG along with answering some listener questions.
Highlights:
- Dividend Day Recap: from the Utrecht event and its vibrant dividend investing community.
- Earnings Analysis: Johnson & Johnson, Procter & Gamble and Texas Instruments.
- Investment Strategies: Exploring the “Income Factory” approach and currency snowball diversification.
- Listener Questions: Covered call ETFs, Qualcomm, and investment trust opportunities.
- Tickers Mentioned: JNJ, PG, TXN, QCOM, NKE, CTP
Chapters
0:00 – Welcome & Episode Introduction
1:09 – Highlights from Dividend Day in the Netherlands
4:42 – Dividend Hikes & Market Updates
7:25 – Johnson & Johnson Earnings Analysis (Ticker: JNJ)
14:22 – Procter & Gamble Earnings (Ticker: PG)
16:01 – Texas Instruments Insights (Ticker: TXN)
23:29 – Listener Questions
26:36 – Thoughts on Dividend Growth Strategies
29:48 – Diversifying Portfolios with Currency Exposure
31:07 – Covered Call ETFs & Their Risks
32:43 – Spotlight on Qualcomm (Ticker: QCOM)
33:38 – Nike Dividend Safety (Ticker: NKE)
34:33 – Private Equity Investment Trusts (Ticker: CTP)
Summary of Key Topics
The Dividend Day event in Utrecht brought together a vibrant community of dividend growth investors. EDGI shared the enthusiasm of meeting online connections in person. Unfortunately, Derek missed the event due to Storm Owen, which caused severe damage to his property. EDGI highlighted Signify’s 1-cent dividend hike, reflecting its commitment to shareholders. However, concerns were raised about its growth prospects and significant exposure to China.
DE provided an analysis of JNJ’s earnings, emphasising strong sales and EPS growth, particularly in oncology. Concerns were noted regarding biosimilar impacts, litigation, and economic pressures. EDGI observed the shift to a pure pharmaceutical and medtech business post-consumer division. EDGI reviewed PG’s modest 2% growth, largely driven by price increases. Derek anticipated higher growth from Unilever, highlighting its potential under new leadership.
Derek examined TXN’s declining revenue and increased debt due to significant capex spending. While short-term pressures exist, EDGI expressed confidence in TXN’s management and long-term prospects, emphasizing transparency around their investment cycle. EDGI discussed integrating “Income Factory” stocks into their portfolio, focusing on dividend safety and growth. They plan to publish a detailed blog post on this strategy.
Addressing a listener’s query, EDGI advised dollar-cost averaging into euro-denominated companies, while DE agreed on prioritizing great businesses over currency concerns. EDGI highlighted the risks of covered call ETFs, especially capital loss during market downturns. They emphasized understanding the nature of income distributions and associated risks.
EDGI praised Qualcomm’s innovative role in mobile chips and 5G but regretted not investing earlier. The dividend safety of Nike was discussed in light of Seeking Alpha’s analysis. EDGI expressed confidence in its payout stability despite the evaluation. Derek highlighted an investment trust with impressive dividend growth on their watchlist, noting its attractive yield and growth record.
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