Josh Peters 
The Ultimate Dividend Playbook 
Income, Insight and Independence for Today’s Investor

Many people believe that the key to success in the stock market is buying low and selling high. But how many investors have the time, talent, and luck to earn consistent returns this way? In The Ultimate Dividend Playbook: Income, Insight, and Independence for Today’s Investor, Josh Peters, editor of the monthly Morningstar Dividend Investor newsletter, shows you why you don’t have to try to beat the market and how you can use dividends to capture the income and growth you seek.

Table of Content

Acknowledgments vii

Introduction ix

Chapter 1 Income? From Stocks? 1

Chapter 2 Dividends, Values, and Returns 25

Chapter 3 Corporations: Dividend Machines 49

Chapter 4 Dividend Insight 69

Chapter 5 Dividends Past, Present, and Projected 87

Chapter 6 Is It Safe? 101

Chapter 7 Will It Grow? 125

Chapter 8 What’s the Return? 149

Chapter 9 Independence 169

Chapter 10 Managing a Dividend Portfolio 183

Chapter 11 The Future of Dividends 205

Epilogue 221

Appendix 1 The Nuts and Bolts of Dividend Payments 225

Appendix 2 Dividends and Taxes 241

Appendix 3 Banks 257

Appendix 4 Utilities 277

Appendix 5 Real Estate Investment Trusts 295

Appendix 6 Energy Partnerships 313

Appendix 7 Other Dividend Opportunities 333

Index 337

About the author

JOSH PETERS, CFA, is an equities strategist and editor of the monthly newsletter Morningstar¯® Dividend Investor(TM). He manages the newsletter’s two real-money model portfolios.

MORNINGSTAR, INC., is a leading provider of independent investment research in the United States and in major international markets. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on more than 250, 000 investment offerings, including stocks, mutual funds, and similar vehicles.The company has operations in sixteen countries and minority ownership positions in companies based in three other countries. Visit us at www.morningstar.com.