The Fall 2009 Mergent Dividend Achievers features second-quarter results for 2009. Inside you will find profiles on over 300 U.S. companies that have increased there regular cash dividends annually for ten or more consecutive years. These are truly remarkable companies whose average total return has outperformed the S&P 500 for the last decade.
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11 of 11 people found the following review helpful:
1.0 out of 5 stars
Astounding flaw,
By Keine Ahnung Baby (Boston, USA) - See all my reviews
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This review is from: Mergent Fall 2009 Dividend Achievers (Mergent Dividend Achievers, Fall 2009) (Paperback)
Anyone familiar with this book will know what it contains, but there's an astounding flaw. The book states "A publicly-traded company that has increased its dividends for the last ten or more consecutive years will be classified as a Dividend Achiever." One would expect that companies that broke with their history would be booted from the list, but that's not the case. Pfizer and GE, e.g., whose dividend cuts are very prominent landmarks in the financial crisis, still make the list in Fall 2009! In short, the book fails to follow its stated method and is therefore deceiving the reader. One should be able to get the list of companies, like Johnson & Johnson or Coca Cola, that have so far survived the crisis with dividends intact or augmented, and see them separated from those who failed. It just ain't there.
One can only speculate why this would be so. Could it be because Mergent has a proprietary index based on dividend achievers, which is used as the basis of at least two closed end funds (Blackrock's BDV and BDJ), and if the true story were told there wouldn't be enough stocks to stick in both? Or maybe they just decided to grade on a curve. Either way, the book is not worth $52. Just get the latest list of what's in BDV and do your own research.
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