Dividend Nobility (4 Criteria)

Buys on Christian W. Röhl’s dividend-nobility test across four disciplines: the dividend has not been cut for at least ten years; it takes between 25 and 75 percent of earnings — enough paid out, but nothing that eats into the substance; the yield beats the market average, meaning the level exactly half of all screened dividend payers exceed, redetermined on every run; and the dividend has grown over five years. The math uses the real payout history: the sums actually paid per share and calendar year, adjusted for splits. Only shares our own deep-dive analysis rates green are bought — yellow or no analysis at all is not enough. New positions are added four times a year; a stock is sold as soon as it no longer meets one of these conditions or is no longer rated green. If the list holds no green-rated share, the portfolio stays in cash.

This portfolio buys shares.