Dividends: A Modest Proposal

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One observes, with a certain weariness, the current obsession with companies that merely grow. A tiresome preoccupation, really. As if accumulating potential wealth is superior to actually having some. The ‘Magnificent Seven,’ as they’re so dramatically labelled, garner all the attention, whilst perfectly respectable enterprises, those that deign to share a portion of their earnings, are left to quietly accumulate…well, actual income. A positively vulgar concept, some might say. But, rather useful, don’t you think?

I propose a modest portfolio, built not on speculative bubbles, but on the solid, if slightly unexciting, foundation of dividend-paying stocks. One seeks not to become instantly rich, but to avoid becoming instantly poor. A perfectly sensible ambition, wouldn’t you agree?

1. Walmart: The King, Still

Walmart. One might sniff at the sheer volume of it all, but one cannot deny its resilience. Over seven hundred billion in sales? Good heavens. And that rather impressive e-commerce bump? One is almost forced to concede it’s rather clever. They’ve managed to corner the market in…everything. Truly democratic, in its way. The dividend yield isn’t going to set the Thames on fire, admittedly, but a 30% growth in five years? One takes what one can get. And the stock price hasn’t exactly been languishing, has it?

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The sheer scale of the operation – over ten thousand stores! – is frankly astonishing. And that Sam’s Club venture? A blatant attempt to mimic Costco, of course, but a perfectly respectable one. One must admire their audacity.

2. American Tower: Upwards and Onwards

American Tower. A decidedly less glamorous proposition than, say, a yacht, but infinitely more reliable. These communications towers, these…steel sentinels, are becoming increasingly vital. Everyone expects instant connection, instant gratification. Someone must provide the infrastructure. And they do, rather efficiently. The fourth-quarter revenue figures are perfectly adequate, and that share repurchase program? A sensible use of funds. And a 3.7% yield? One could do worse, decidedly worse.

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The build-out of 5G, edge computing…it all requires infrastructure. American Tower is, quite simply, capitalizing on our collective obsession with being permanently connected. A cynical observation, perhaps, but an accurate one.

3. Realty Income: Monthly Comfort

Realty Income. A REIT, naturally. One understands the appeal of a monthly dividend. It’s a civilized arrangement, really. One doesn’t have to wait an entire quarter to receive one’s due. And over fifteen thousand properties? Diversification, my dear fellow, diversification. They own everything from drugstores to…well, everything. Shielding one from the vagaries of any particular industry. And fifty years of consistent dividends? Remarkable. A 5% yield? One might even consider it generous.

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A thoroughly reliable, if unexciting, investment. Like a comfortable armchair. Or a loyal butler.

4. Schwab U.S. Dividend Equity ETF: A Sensible Spread

One is rarely enthralled by ETFs, but this Schwab offering is…passable. A diversified basket of high-yielding dividend stocks. Lockheed Martin, ConocoPhillips, Chevron, Verizon…stalwarts, all of them. No single stock dominating the portfolio. A prudent approach. And an expense ratio of a mere 0.06%? One can hardly complain. A 3.3% yield? Perfectly acceptable. It won’t make one a millionaire overnight, but it will provide a steady stream of income. And in the current climate, that is something to be cherished.

One invests, not to chase fleeting fortunes, but to preserve one’s capital. A simple philosophy, perhaps, but a remarkably effective one.

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2026-03-20 11:12