Beat The Market With Dividend Stocks 2012 PDF

BEAT THE MARKET WITH DIVIDEND STOCKS
Copyright 2011 Paul Rubillo / Dividend.com

All rights reserved.
Acknowledgements
This book is dedicated to the loyal readers of Dividend.com. Without you, our
service could never have grown to what it its today, and this book would not
have been possible.
A special thanks also goes out to the good people at TickerTech.com for
graciously providing the stock charts in this book, especially Jonathan Buttrill.
Table of Contents
Introduction
Part 1: What Could Go Right in 2012
6-9
Part 2: What Could Go Wrong in 2012
10-14
Part 3: Stock-by-Stock Breakdowns for 2012
15-271
Conclusion
272
Introduction
Beat the Market with Dividend Stocks is an investing guide and economic forecast
for dividend investors.
Formulating an economic forecast for 2012 is difficult. On one hand, the
economy could show signs of stabilization or even growth, which would mean
good news for a number of dividend stocks. On the other, dangers still persist in
a number of areas -- particularly in Europe and China.
Thus, the best way to develop an economic projection in the current climate is to
separate things that could go right in 2012, versus things that could go wrong. I
will then provide my own take on these potential factors. I hope that this sort of
distinction and analysis proves useful in your investing.
Just keep in mind the scenarios that follow are only possibilities, not outright
predictions!
Regards,
--Paul
Paul Rubillo is the Founder and CEO of Dividend.com.
Part 1: What Could Go Right in 2012?

9 The job market begins to stabilize, signaling that
corporate America is once again eyeing expansion.

Worker hiring returns to normal levels, raising consumer
sentiment.
Its been a rough year for unemployment data and as we look ahead to 2012,
signs of a near-term recovery are still not evident. With major elections slated
across the country, political candidates will likely focus on job creation. Of
course, creating jobs is much easier said than done. As much as Id like to
believe elected officials can provide some immediately meaningful results, its
likely that job growth is still another year or two away.
As far as layoffs go in 2012, my worries are that corporations will stick to their
current do more with less approach to business. Is this trend good for
shareholders? Yes and no.
As companies lay off more and more workers, spending dollars continue to dry
up. Soon enough, boomerang effect begins to take hold. Demand slowly begins
to deteriorate for companies products or services. If companies can begin to
embrace the likelihood of this boomerang effect, maybe theyll begin to think
more offensively than defensively.
It would be great to see some real job creation in 2012, but at this point, the
chances remain low as far as we can see.
9 Global markets emerge from the bailout process and

overseas equities begin to rebound.
It could take a minor miracle for this trend to emerge in 2012. The ECB
(European Central Bank) is constructing their own version of the U.S. TARP
(Troubled Assets Relief Program) in order to ease pressure on foreign bond
markets. Clearly, Europe is hoping that equities markets there will rally
similarly to how the U.S. markets did in back in 2009.
Meanwhile, If things turn down significantly in China, we could even see TARPlike initiative in the worlds largest country, as well. Ultimately, these measures
amount to nothing more than a kick the can approach to letting bad banks and
other businesses off the hook for their own mistakes.
U.S. Banks finally right the ship and will not need TARP
Part 2.
The only way U.S. financial institutions will regain strength is through an overall
economic rebound. Most importantly, loan activity will need to pick back up.
The original plan of TARP was not just to backstop the banks against further
losses, but to open up the spigot for money to flow. Anyone who has tried to
borrow for their own business, obtain a mortgage loan, or even refinance to a
lower rate can tell you the hoops that lenders are asking people to jump through
seem pretty excessive.
After a close examination of the earnings reports from banking stocks in fourth
quarter, quite frankly its hard to fathom a second version of TARP not being put
into action. One look at the share price performance of several major bankers in
2011 indicates the markets agree.
9 Interest rates begin to rise slowly. Consumers feel better

about the economy, and savers begin to get halfway decent
returns in their savings accounts and CDs.
If Federal Reserve Chairman Ben Bernanke has his way in 2012, this trend has no
chance of emerging. Bernanke has gone on record multiple times saying the Fed
will keep rates at historically low levels for at least the next two years.
Washington always claims to believe in the concept of a strong U.S. dollar.
Printing excessive amounts of money certainly points to the opposite. The
possibility of hyperinflation seems remote, but that process can strike very
quickly when governments become reckless with their national currencies.
As for savers, its been years since anyone has been able to make a decent return
from savings accounts or CDs. This fact is yet another reason to put your money
into high-quality dividend stocks. Investing is a necessity for consumers to
outpace any impending inflation (which the government continues to claim is
non-existent). 2012 should bring in yet another year of low rates, even if we see
any sort of uptick from current levels.
Stronger volume begins to return to equity markets,

confirming that rallies are more than just machines
pushing numbers around.
This concept is critical if the markets are going to build any sort of solid
foundation for share prices to remain strong. Long-term Investors and day
traders alike have been frustrated by the rapid-fire stock price action we have
seen (plenty of blame is being pointed in the direction of leveraged ETFs, and
there are hearings underway to look into the tail wagging the dog effect).
A frustrating point for us is to see big rallies take place days with overall weak
volume. In contrast, many sell-off days would show an uptick in volume.
Neither of these are good signs.
Ideal market conditions have a classic stair-step look. Stocks rally for a few days
on good volume, only to pull back and correct on light volume. I cant remember
the last time we saw that kind of market action. Were hoping 2012 will signal a
return to bullish volume, and if it does, we will certainly look to expand our
comfort zone with more names on our Best Dividend Stocks List.
9 Whoever wins the Presidential election extends tax cuts

on capital gains and dividends.
The debate over tax cuts for market gains seems to have turned into an annual
battle. Public sentiment has turned against Wall Street, and we hope this anger
doesnt blind the public into thinking higher taxes on investment returns is a
good idea. Equity investing (and especially dividend investing) is one of the few
bullets everyday people still have left in their arsenal when it comes to saving for
retirement.
Unfortunately, this topic will be put on the table in a major way in 2012.
Depending on which party is sitting in a position of negotiating strength, the
decision could go either way. Were confident that at the end of the day, cooler
heads will prevail and the current tax cuts will be extended again. Our belief is
that people should not be penalized for putting money to work into the markets.
After all, dividend investing has been a great strategy for decades. Adding
more taxes at the expense of better investment returns doesnt make much sense
especially considering how much many older folks depend on dividend
income in their golden years.
Part 2: What Could Go Wrong in

2012?
9
No clear leading candidate emerges, and the winner of the

2012 Presidential Election fails to win a majority vote.
Wall Street hates uncertainty and things could turn down
by summer.
A lack of faith in leadership isnt just a corporate problem on Wall Street. It can
also be an overhang on the markets during Presidential elections.
If Wall Street doesnt get the sense that any of the leading candidates are will be
market-friendly, you could certainly see the averages break down as summer
goes on. Of course, pullbacks often create opportunities for investors
particularly if fundamentals hold up well for attractive dividend names.
Chinas economy implodes, causing all sorts of global

fallout, like plunging commodity prices and an unexpected
spike in interest rates as China dumps treasuries to raise
cash.
Headlines about a deteriorating Chinese economy accelerated toward the end of

2011. The real estate bubble in the country looks to have popped in many areas
over the past few months, and the resulting global fallout could get a bit dicey.
With Chinas government funding much of the recent build-out, there is
increased risk on how the central powers will respond to things spiraling lower.
Its possible the country could try and save face, basically painting a rosy picture
as the old Soviet Union used to do back in the 1950s-1970s. As we all know,
eventually the real picture in the U.S.S.R. trickled out and major negative
10
revelations took shape.

Copper prices have been dropping strongly as we hear into 2012, and many
analysts point to this trend as evidence Chinas growth engine has begun to stall.
Besides commodities, China is the biggest investor in U.S. debt. What will
happen to interest rates if China floods the market with treasuries? A sudden
spike in interest rates would certainly create a huge obstacle for any hopes of an
American real estate recovery.
Its easy to see why many analysts are concerned about Chinas prospects in
2012. The question of whose economic policy is to blame for any further global
economic pressures could be a big point of contention in coming months and
years between the U.S. and China. Well continue to monitor this situation
closely and identify the best areas for investors to profit should things head
south in the so-called Land of the Dragon.
Occupy Wall Street protests spread and turn violent.
The number of arrests stemming from Occupy protests is rising, but we have yet
to see the kind of violence or rioting that popped up overseas. As we get into the
winter months, it seems unlikely that protesters will be willing to brave the
elements for too much longer. Will they show the same resolve they did during
warmer months? Either way, its impossible to ignore the fact that many people
are fed up with the growing disparity between the haves and have-nots.
Check out some of these eye-opening data points:
The 400 wealthiest Americans have a greater combined net worth than the
bottom 150 million Americans.
The top 1% of Americans possess more wealth than the entire bottom 90%.
Plus, according to the Economic Policy Institute:
1917-1981: Bottom 90% Captured 69% of Income Gains

1982-2000: Bottom 90% Captured 23% of Income Gains
2001-2008: Bottom 90% Had Income Losses (Negative Gains)
The seeds of disenchantment have been sown. Well continue to watch for any
11
developments that could move the markets and affect the universe of dividend
stocks we monitor.
The housing market continues to weaken, pushing stress

levels higher for those who are hoping to retire and
downsize.
From a pure dollars and cents standpoint, downsizing is a no-brainer for retirees.
We all know, however, that people develop deep emotional attachments to their
homes. Moving out of a certain house or area often proves very difficult,
especially once you've lived there for decades.
And now, new worries have emerged for those considering downsizing.
Property values continue to decline in many parts of the country, and any uptick
in prices is impossible to pinpoint. Also, it's become much more difficult to sell
your home. In the past, it was relatively simple. Just put a "For Sale" sign
outside your house and you'll attract buyers. Now, it's questionable how many
buyers there are left.
It's also difficult to get a loan these days. As banks have brought back the old
requirements of a certain percentage of money down, certain level credit score,
and minimum calculated salary, many would-be buyers have been left out in the
cold. Owner financing is becoming an option for those looking to get a deal
done, but there are plenty of risks in that strategy.
The decision to stay or go will only get more difficult as time passes. Also,
people tend to wait to sell as asset when the bulk of the downside has already
occurred. The harsh reality is that single-family residential homes do not
provide an income source. Financial freedom, on the other hand, involves
having your money in assets that do produce income. At the end of the day,
each homeowner will need to make the decision they feel will make them
happiest in the long run.
Despite the constant hope things are about to turn the corner for real estate, the
reality is that low rates have been around for quite a while now and yet demand
remains low. As Ive been writing toward the end of 2011, 2012 will not be any
easier for those waiting for real estate prices to rebound.
12
9 Fear of the euro dissolving could result in a excessively

strong U.S. dollar, which would hurt profits of multinational companies.
No one ever said the euro wouldnt have its growing pains, but the fledgling
currency is now facing its greatest test. Some of the more financially responsible
countries in Europe are wondering whether they should have to help foot the bill
and keep other struggling nations afloat. Its truly an unprecedented event in
history when a country like Germany is expected to help financially rebuild
countries like Greece or Italy.
As far as the U.S. markets go, an exceptionally strong dollar could wreak havoc
for multinational corporations earnings when currency fluctuations are factored
in. Many companies we follow on Dividend.com could be adversely affected in
this scenario (think those with large overseas revenues, like McDonalds or CocaCola).
The upside of any drastic market reaction would be that some quality companies
inevitably get thrown into the same bin with the most vulnerable. At that point,
we would of course be looking for solid entry points to get into the good stocks
that are weighed down by weaker ones.
Stagflation rears its ugly head. Domestic currency

inflation spikes, decreasing demand for many products and
lowering their real values, while the jobless rate remains
stubbornly high.
This scenario would spell a bloodbath for bond investors, including many
foreign countries. Historically, stagflation was only a concern in an oil shocktype situation like we saw in the early 1970s. With demand for all kinds of
commodities on the rise as the world population continues to increase, oil is no
longer the only factor to worry about. Excessive money supply is another factor
that can lead to stagflation, and we are not blind to the fact the U.S. has the dollar
printing presses running at full speed.
Many economists are skeptical about stagflation occurring. The Federal Reserve
13
could also raise interest rates if need be to combat signs of stagflation. Whether
or not consumers can absorb a large spike in rates is another question.
Wed certainly hate to see any signs of stagflation in 2012, but with the bevy
seat-of-their-pants Fed policies being implemented, from Quantitative Easing
(QE1 and QE2), and TARP (Troubled Assets Relief Program) and maybe even
TARP 2, anything is possible.
Deflation continues to run its course (following the pattern

of Japans Lost Decades).
Could the U.S. be facing the dreaded D word deflation? If it is, then Wall
Street pundits better get their pencils sharpened. Japan has dealt with deflation
for the last couple of decades, as consumers hold on to their wallets tightly and
build up their savings. Meanwhile, companies take their help wanted signs
down and try to get through a deflationary economic contraction using as little
resources as possible. Weve been seeing that latter trend take hold in the past
few years in the U.S., with record layoffs at many of the countrys largest
employers.
The Federal Reserve is aware of the possibility of deflation, although they rarely
admit its a possibility. Depending on the results of the 2012 elections, the Feds
recent infatuation with printing dollars could come under fire. Several
presidential candidates have already voiced their displeasure with the Federal
Reserve and their tactics.
In the end, the growing threat of deflation could be more of a 2013 concern,
following the election results.
14
Part 3: Stock-by-Stock Previews

for 2012
What Stocks Qualify for this List?
Our list of 65 dividend stocks were previewing for 2012 is comprised of
companies with a few major factors in common:
Stocks must have a minimum dividend yield of approximately 3%.

Companies must have a well-known, recognizable brand name in their
industry.
Only mid- and large-cap names were considered.
Stocks must have a minimum 500,000 share daily trading volume.
Are These Stocks All Buys?

Absolutely not! In fact, wed avoid some of these stocks on this list entirely. You
can read our 2012 take on each stock, including its potential catalysts and
concerns, on the final page of its preview.
How Should I Use This List?

These stocks are names currently on our personal radar at Dividend.com, and
will continue to be through 2012. You may want to add some of these names to
your Watchlist, along with our current recommendations on the Best Dividend
Stocks List.
Keep on eye on these stocks for next year, as they will likely be a large part of the
key market themes that will play out in 2012.
So without further ado, here is our 2012 stock-by-stock preview, in alphabetical
order by stock symbol.
15
Abbott Laboratories (ABT)

2011 Range:
45.07 - 55.61
Market Cap:
82.283B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
4.65
2012 EPS Est:
Annualized Div:
1.92
Div. Yield:
Payout Ratio (2011):
0.41
9,014,290
18.20
5.03
3.64%
0.38
ABT Five-Year Stock Chart
Charts courtesy of Ticker Technologies, Inc. http://www.tickertech.com.
Company Profile
Abbott Laboratories (ABT) is a major diversified healthcare products maker. ABT
has significant presences in the hospital and laboratory supplies industries, as
well as baby formulas and nutritional products. The company was founded in
1888 and is based in Abbott Park, Illinois.
16

Twenty-year dividend payout history (annualized)
Year
Annualized Payout
Change
2010
1.72
-12.24%
2009
1.96
+39.50%
2008
1.405
+10.63%
2007
1.27
+9.48%
2006
1.16
+6.91%
2005
1.085
-71.97%
2004
3.871
+299.07%
2003
0.97
+6.01%
2002
0.915
+11.59%
2001
0.82
+10.81%
2000
0.74
+12.12%
1999
0.66
+12.82%
1998
0.585
-11.36%
1997
0.66
+41.94%
1996
0.465
+13.41%
1995
0.41
+10.81%
1994
0.37
+12.12%
1993
0.33
+14.78%
1992
0.2875
+19.79%
1991
0.24
--
17

Below are Dividend.com's proprietary DARS Ratings for ABT as of Nov. 23,
2011. Each value is based on a scale of 1 to 5.
Dividend.com DARS Ratings for ABT

Relative Strength
3.0
ABT is performing in-line with the market or better.
Overall Yield Attractiveness
4.0
ABT's dividend yield is above the industry average.
Dividend Reliability
4.5
ABT has been paying dividends for 85 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
ABT has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
ABT's earnings estimates are flat.
Read more about the DARS Rating System here.
18

Dividend.com 2012 Forecast for ABT
Potential Catalysts
Diversified medical/pharma play with near 4% dividend yield.

Will be splitting into two publicly traded companies.
Stock is fairly valued, trading at 10-11 times 2012 analyst estimates.
Potential Concerns
Investors could return to growth-oriented names, causing ABT and the

rest of the pharma plays to underperform.
Bottom Line
Abbott looks attractive in the low $50s, and there could be upside to the high
$50s the next twelve months. Although its long-term chart is a bit uninspiring,
this diversified health play is a solid dividend payer that continues to boost its
payouts year after year. Abbott also has good business mix and operates in more
than 130 countries, making it fairly resistant to any prolonged economic
slowdown.
Additional Resources for ABT
Dividend.com Profile Page for ABT

Full Dividend Payout History for ABT
19
AvalonBay Communities Inc. (AVB)

2011 Range:
107.32 - 139.91
Market Cap:
11.509B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
4.60
2012 EPS Est:
Annualized Div:
3.57
Div. Yield:
0.78
1,087,510
73.30
5.43
2.96%
0.66
AVB Five-Year Stock Chart
Company Profile
AvalonBay Communities (AVB) is an apartment-based real estate investment
trust (REIT). AVB owns or holds an ownership interest in multifamily
communities in ten states and the District of Columbia. The company, formerly
known as Bay Apartment Communities, Inc., was founded in 1978 and is
headquartered in Arlington, Virginia.
20

Year
Annualized Payout
Change
2010
3.572
-20.00%
2009
4.465
-16.99%
2008
5.379
+58.21%
2007
3.40
+8.97%
2006
3.12
+9.86%
2005
2.84
+1.43%
2004
2.80
--
2003
2.80
--
2002
2.80
+9.38%
2001
2.56
+14.29%
2000
2.24
+8.74%
1999
2.06
+34.64%
1998
1.53
--
21

Below are Dividend.com's proprietary DARS Ratings for AVB as of Nov. 23,
Dividend.com DARS Ratings for AVB

Relative Strength
3.5
AVB is outperforming much of the market.
2.5
AVB's dividend yield is just average.
4.5
AVB has been paying dividends for 13 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
AVB has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
AVB's earnings estimates are flat.
22

Dividend.com 2012 Forecast for AVB
Potential Catalysts
Weak housing market continues to increase demand for rental units.

Company deals with higher-end rental units that have maintained
demand better than lower-end units.
Potential Concerns
Valuation could be an issue, as stock is not considered cheap.

Recent dividend yield has tended to drop below 3% as momentum
investors turn to stock because of its high-beta qualities (AVB tends to
move more up/down intra-day compared with other stocks).
Company hasnt raised its dividend payout since 2008.
Bottom Line
AvalonBay is a stock that investors should consider mostly during periods of
market pullbacks. Generally, we prefer REITs (Real Estate Investment Trusts) to
have higher dividend yields of 4% or more, since dividend payouts are nonqualified (and thus do not receive special tax treatment).
Additional Resources for AVB
Dividend.com Profile Page for AVB

Full Dividend Payout History for AVB
23
Avon Products Inc. (AVP)

2011 Range:
16.45 - 31.60
Market Cap:
7.172B
Avg. Volume:
5,620,710
P/E Ratio:
9.81
1.83
2011 EPS Est:
1.78
2012 EPS Est:
Annualized Div:
0.92
Div. Yield:
0.52
5.51%
0.5
AVP Five-Year Stock Chart
Company Profile
Avon Products (AVP) engages in the manufacture and marketing of beauty and
related products worldwide. Its product categories include Beauty, which
consists of cosmetics, fragrances, skin care, and toiletries; Beauty Plus, which
include fashion jewelry, watches, apparel, and accessories; and Beyond Beauty
that consists of home products, and gift and decorative products. Avon Products
markets its products through direct selling and independent representatives, as
well as through distributorships. The company was founded in 1886 and is based
in New York, New York.
24

Year
Annualized Payout
Change
2010
0.88
-16.19%
2009
1.05
+31.25%
2008
0.80
+8.11%
2007
0.74
+5.71%
2006
0.70
+6.06%
2005
0.66
+17.86%
2004
0.56
+33.33%
2003
0.42
+5.00%
2002
0.40
+5.26%
2001
0.38
+2.70%
2000
0.37
+2.78%
1999
0.36
+5.88%
1998
0.34
+7.94%
1997
0.315
+8.62%
1996
0.29
+10.48%
1995
0.2625
+10.53%
1994
0.2375
+11.76%
1993
0.2125
+13.33%
1992
0.1875
-65.91%
1991
0.55
--
25

Below are Dividend.com's proprietary DARS Ratings for AVP as of Nov. 23,
Dividend.com DARS Ratings for AVP

Relative Strength
2.5
AVP is performing in-line with the market or better.
3.5
AVP's dividend yield is above the industry average.
3.5
AVP has been paying dividends for 92 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
AVP has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
2.5
AVP's earnings estimates are flat.
26

Dividend.com 2012 Forecast for AVP
Potential Catalysts
Potential management changes could spur interest in a turnaround story

for investors.
Dividend yield is over 5%.
Potential Concerns
Company could continue to languish, losing further market share to

faster-moving competitors.
Plenty of overhead price resistance from a technical perspective.
May need to cut its dividend payout in 2012, if recent troubles continue.
Bottom Line
On the surface, Avon shares appear to be dead money. But the brand is wellknown and there are possibilities for the ship to be righted in 2012. The stock is
attractively valued compared to its peers, but again, needs a shake-up in order to
spur long-term price growth (which the shares have lacked over the past five
years).
Additional Resources for AVP
Dividend.com Profile Page for AVP

Full Dividend Payout History for AVP
27
American Water Works Company Inc.

(AWK)
2011 Range:
23.93 - 31.49
Market Cap:
5.330B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
1.77
2012 EPS Est:
Annualized Div:
0.92
Div. Yield:
0.52
1,212,600
17.32
1.91
3.03%
0.48
AWK Five-Year Stock Chart
Company Profile
American Water Works Company (AWK) engages in the provision of water and
wastewater services to residential, commercial, and industrial customers in the
United States and Canada. The company was founded in 1886 and is based in
Voorhees, New Jersey.
28

(AWK)
Year
Annualized Payout
Change
2010
0.86
-29.51%
2009
1.22
+205.00%
2008
0.40
--
29

(AWK)
Below are Dividend.com's proprietary DARS Ratings for AWK as of Nov. 23,
Dividend.com DARS Ratings for AWK

Relative Strength
3.0
AWK is performing in-line with the market or better.
3.5
AWK's dividend yield is above the industry average.
4.0
AWK has been paying dividends for 3 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
AWK has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
AWK's earnings estimates are flat.
30

(AWK)
Dividend.com 2012 Forecast for AWK
Potential Catalysts
Investors looking to avoid volatility should continue to gravitate toward

this companys boring but necessary business.
Potential Concerns
Dividend yield has hovered around 3%, a bit lower than we would like for
a utility play.
Stock has only been publicly-traded since May 2008 -- a negative for some
investors looking for a longer sample size to base an investment opinion
on.
Bottom Line
American Water Works should continue to attract plenty of investor attention,
partially as a hedge to the ongoing volatility in the financial markets. Growth in
its business will come mainly through acquisition, and the company was
aggressive in that respect in 2011. However, like other utility names, AWK could
underperform in 2012 if growth investing becomes more of a focus for investors.
Additional Resources for AWK
Dividend.com Profile Page for AWK

Full Dividend Payout History for AWK
31
BlackRock Inc. (BLK)

2011 Range:
140.22 - 209.77
Market Cap:
28.019B
Avg. Volume:
986,532
P/E Ratio:
12.36
2012 EPS Est:
12.78
2011 EPS Est:
11.85
Annualized Div:
5.50
Div. Yield:
0.46
3.51%
0.43
BLK Five-Year Stock Chart
Company Profile
BlackRock, Inc. (BLK) is an independent investment management firm. The
company provides risk management, investment management, and advisory
services to corporate, public, and Taft-Hartley pension plans, insurance
companies, mutual funds, endowments, foundations, nuclear decommissioning
trusts, banks, charities, corporations, official institutions, and individuals
worldwide. BlackRock was founded in 1988 and is based in New York, New
York.
32

Year
Annualized Payout
Change
2010
5.00
+60.26%
2009
3.12
--
2008
3.12
+16.42%
2007
2.67999
+59.52%
2006
1.68
+40.00%
2005
1.20
+20.00%
2004
0.99996
+149.98%
2003
0.40002
--
33

Below are Dividend.com's proprietary DARS Ratings for BLK as of Nov. 23,
Dividend.com DARS Ratings for BLK

Relative Strength
3.0
BLK is performing in-line with the market or better.
3.5
BLK's dividend yield is above the industry average.
4.0
BLK has been paying dividends for 8 years, and we its dividend yield is safe.
Dividend Uptrend
3.5
BLK has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
BLK's earnings estimates are flat.
34

Dividend.com 2012 Forecast for BLK
Potential Catalysts
If recent ETF investor enthusiasm continues, BLK is well-positioned to

capitalize on the trend (it offers over 200 ETFs through its iShares
business, acquired in 2009).
Stock has attractive 3.5% dividend yield.
Potential Concerns
Companys stock performance remains tied to underperforming financial

sector.
Bottom Line
BlackRock possesses both growth and value characteristics that could make it
very attractive once confidence in the financial sector returns. Whether or not
that will happen in 2012 is very difficult to say. Regardless, its dividend yield
and business mix make it one of very few financial stocks worthy of long-term
consideration.
Additional Resources for BLK
Dividend.com Profile Page for BLK

Full Dividend Payout History for BLK
35
Bristol-Myers Squibb Company (BMY)

2011 Range:
24.97 - 33.27
Market Cap:
51.480B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.30
2012 EPS Est:
Annualized Div:
1.32
Div. Yield:
0.57
13,879,300
15.69
2.01
4.34%
0.66
BMY Five-Year Stock Chart
Company Profile
Bristol Myers Squibb Co. (BMY) is a global pharmaceuticals company. BMY
engages in the discovery, development, licensing, manufacturing, marketing,
distribution, and sale of pharmaceuticals and related healthcare products.
Formerly known as Bristol-Myers Company, BMY was 1887 and is based in New
York, New York.
36

Year
Annualized Payout
Change
2010
0.96
-23.20%
2009
1.25
-19.35%
2008
1.55
+38.39%
2007
1.12
--
2006
1.12
--
2005
1.12
+33.33%
2004
0.84
-25.00%
2003
1.12
-20.00%
2002
1.40
-63.92%
2001
3.88
+295.92%
2000
0.98
+13.82%
1999
0.861
+47.18%
1998
0.585
-23.53%
1997
0.765
-18.62%
1996
0.94
+69.37%
1995
0.555
-39.34%
1994
0.915
+27.08%
1993
0.72
+39.13%
1992
0.5175
-16.87%
1991
0.6225
--
37

Below are Dividend.com's proprietary DARS Ratings for BMY as of Nov. 23,
Dividend.com DARS Ratings for BMY

Relative Strength
3.0
BMY is performing in-line with the market or better.
3.5
BMY's dividend yield is above the industry average.
4.5
BMY has been paying dividends for 111 years, and we feel its dividend yield
is extremely safe.
Dividend Uptrend
4.0
BMY has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
BMY's earnings estimates are flat.
38

Dividend.com 2012 Forecast for BMY
Potential Catalysts
Investors could continue to make BMY one of the best places to hide from
market volatility, as it was a solid performer in 2011.
Has a decent drug pipeline, but will likely need to keep making strategic
acquisitions.
Potential Concerns
Stock could be getting a bit too much love if its dividend yield begins to
fall under 4%.
Is a better buy under the $30 mark.
Bottom Line
One of the top dividend plays in the pharma industry, BMY attracted plenty of
investor attention in 2011, as its stock price outperformed all of its major
competitors. That said, Bristol Myers appears to be reaching fully valued
status as we near year-end.
Additional Resources for BMY
Dividend.com Profile Page for BMY

Full Dividend Payout History for BMY
39
ConAgra Foods Inc. (CAG)

2011 Range:
21.25 - 26.60
Market Cap:
10.023B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
1.80
2012 EPS Est:
Annualized Div:
0.96
Div. Yield:
0.53
4,588,520
13.75
1.96
3.97%
0.49
CAG Five-Year Stock Chart
Company Profile
ConAgra Foods, Inc. (CAG) is a packaged foods company. CAG offers consumer
foods, including meals, entrees, condiments, sides, snacks, and desserts across
frozen, refrigerated, and shelf-stable temperature classes to customers through
grocery retailers, restaurants, and foodservice establishments. Its primary brands
include Chef Boyardee, Healthy Choice, Marie Callender's, Orville
Redenbacher's, Slim Jim, Hebrew National, Kid Cuisine, Reddi-Wip, VanCamp,
Libby's, LaChoy, The Max, Manwich, Egg Beaters, Blue Bonnet, Parkay, and
many more. ConAgra Foods was founded in 1919 and is headquartered in
Omaha, Nebraska.
40

Year
Annualized Payout
Change
2010
0.83
+7.79%
2009
0.77
+1.32%
2008
0.76
+4.11%
2007
0.73
-10.21%
2006
0.813
-25.55%
2005
1.092
+3.70%
2004
1.053
+4.88%
2003
1.004
+5.35%
2002
0.953
+7.32%
2001
0.888
+6.09%
2000
0.837
+13.41%
1999
0.738
+13.19%
1998
0.652
+15.19%
1997
0.566
-7.52%
1996
0.612
+42.00%
1995
0.431
+15.24%
1994
0.374
+15.97%
1993
0.3225
+15.18%
1992
0.28
+29.04%
1991
0.21699
--
41

Below are Dividend.com's proprietary DARS Ratings for CAG as of Nov. 23,
Dividend.com DARS Ratings for CAG

Relative Strength
3.0
CAG is performing in-line with the market or better.
3.5
CAG's dividend yield is above the industry average.
4.0
CAG has been paying dividends for 35 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
CAG has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
CAG's earnings estimates are flat.
42

Dividend.com 2012 Forecast for CAG
Potential Catalysts
Stock continues to hold up very well in a volatile environment.

Has a near 4% yield, making it a prime target for many income investors.
Potential Concerns
Could wind up overpaying for an acquisition target, as it attempted to

buy fellow food producer Ralcorp Holdings (RAL), but was rejected
multiple times.
Rising food commodity costs could take a toll on its margins.
Bottom Line
CAG is a stock suited mainly for ultra conservative investors. Its five-year chart
is essentially flat, so most if not all gains are likely to come in the way of
dividends. Since the company appears to have littler growth prospects, its not
one of our favorites in the food space.
Additional Resources for CAG
Dividend.com Profile Page for CAG

Full Dividend Payout History for CAG
43
The Clorox Company (CLX)

2011 Range:
60.56 - 75.44
Market Cap:
8.520B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
4.07
2012 EPS Est:
Annualized Div:
2.40
Div. Yield:
0.59
1,230,780
18.49
4.42
3.74%
0.54
CLX Five-Year Stock Chart
Company Profile
The Clorox Company (CLX) is a consumer and institutional products maker.
Clorox operates four business units: Cleaning, Lifestyle, Household and
International. Its famous brands include its namesake Clorox bleach, Green
Works cleaning products, Fresh Step and Scoop Away cat littler, Brita water
filters, Burt's Bees personal care products, Glad bags and containers, and K.C.
Masterpiece and Hidden Valley dressings and sauces. Clorox was founded in
1913 and is based in Oakland, California.
44

Year
Annualized Payout
Change
2010
2.10
+9.38%
2009
1.92
+11.63%
2008
1.72
+21.13%
2007
1.42
+22.41%
2006
1.16
+3.57%
2005
1.12
+3.70%
2004
1.08
+10.20%
2003
0.98
+15.29%
2002
0.85
+1.19%
2001
0.84
+2.44%
2000
0.82
+7.89%
1999
0.76
+11.76%
1998
0.68
+11.48%
1997
0.61
+9.91%
1996
0.555
+9.90%
1995
0.505
+8.60%
1994
0.465
+5.08%
1993
0.4425
+7.27%
1992
0.4125
+7.84%
1991
0.3825
--
45

Below are Dividend.com's proprietary DARS Ratings for CLX as of Nov. 23,
Dividend.com DARS Ratings for CLX

Relative Strength
2.5
CLX is performing in-line with the market or better.
3.5
CLX's dividend yield is above the industry average.
5.0
CLX has been paying dividends for 43 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.0
CLX has shown consistency in its payouts, but any increases have been small.
Earnings Growth
3.0
CLX's earnings estimates are flat.
46

Dividend.com 2012 Forecast for CLX
Potential Catalysts
Company could see continued takeover interest, as was expressed earlier

in 2011 from private equity titan Carl Icahn.
Has an over 3.5% dividend yield and is fairly valued.
Potential Concerns
A continued economic slowdown could decrease consumer interest in its

name brand products, as people may opt instead for generic brands.
Bottom Line
Without further takeover interest, CLX seems fully valued in the mid-$60s price
range. It could be a name worth checking out below the $60 a share level,
however, which would put its dividend yield over 4%.
Additional Resources for CLX
Dividend.com Profile Page for CLX

Full Dividend Payout History for CLX
47
ConocoPhillips (COP)
2011 Range:
58.65 - 81.80
Market Cap:
91.216B
Avg. Volume:
9,459,220
P/E Ratio:
8.83
8.39
2011 EPS Est:
8.63
2012 EPS Est:
Annualized Div:
2.64
Div. Yield:
0.31
3.83%
0.31
COP Five-Year Stock Chart
Company Profile
ConocoPhillips (COP) is an integrated energy company that produces oil and
natural gas. Its six operating segments are Exploration and Production (E&P),
Midstream, Refining and Marketing (R&M), LUKOIL Investment, Chemicals,
and Emerging Businesses. ConocoPhillips was founded in 1917 and is based in
Houston, Texas.
48
Year
Annualized Payout
Change
2010
2.15
+12.57%
2009
1.91
+1.60%
2008
1.88
+14.63%
2007
1.64
+13.89%
2006
1.44
+22.03%
2005
1.18
+31.84%
2004
0.895
+9.82%
2003
0.815
+10.14%
2002
0.74
+5.71%
2001
0.70
+2.94%
2000
0.68
--
1999
0.68
--
1998
0.68
+1.49%
1997
0.67
+7.20%
1996
0.625
+4.60%
1995
0.5975
+6.70%
1994
0.56
--
1993
0.56
--
1992
0.56
--
1991
0.56
--
49
Below are Dividend.com's proprietary DARS Ratings for COP as of Nov. 23,
Dividend.com DARS Ratings for COP

Relative Strength
2.5
COP is performing in-line with the market or better.
3.5
COP's dividend yield is above the industry average.
4.5
COP has been paying dividends for 77 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
COP has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
COP's earnings estimates are flat.
50
Dividend.com 2012 Forecast for COP
Potential Catalysts
One of the most generous names from a dividend standpoint in the

integrated oil space with a yield near 4%.
Stocks valuation appears cheap if oil prices do not drop precipitously.
Potential Concerns
Plain and simple: if oil prices fall, so too will the stocks price.
Bottom Line
Like all oil-related plays, COP is at the mercy of the energy markets. Oil prices
were extremely volatile in 2011. Thus, we have been cautious about the energy
plays and will remain so until we see real signs of stabilization.
Additional Resources for COP
Dividend.com Profile Page for COP

Full Dividend Payout History for COP
51
Campbell Soup Company (CPB)

2011 Range:
29.69 - 35.66
Market Cap:
10.301B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.37
2012 EPS Est:
Annualized Div:
1.16
Div. Yield:
0.49
2,355,890
13.89
2.53
3.45%
0.46
CPB Five-Year Stock Chart
Company Profile
Campbell Soup Company (CPB) is a worldwide maker of packaged food
products. The company operates in five segments: U.S. Simple Meals, U.S.
Beverages, Global Baking and Snacking, International Simple Meals and
Beverages, and North America Foodservice. CPB's famous brands include its
namesake Campbell's soup lines, Prego pasta sauces, V8 vegetable juices, and
Franco American pasta products. Campbell Soup was established in 1869 and is
headquartered in Camden, New Jersey.
52

Year
Annualized Payout
Change
2010
1.405
+37.07%
2009
1.025
+9.04%
2008
0.94
+11.90%
2007
0.84
+10.53%
2006
0.76
+43.40%
2005
0.53
-19.21%
2004
0.656
+3.80%
2003
0.632
-20.00%
2002
0.79
-5.16%
2001
0.833
-7.44%
2000
0.90
-0.11%
1999
0.901
-71.50%
1998
3.161
+223.05%
1997
0.9785
+41.81%
1996
0.69
+48.39%
1995
0.465
-19.13%
1994
0.575
+53.33%
1993
0.375
-23.47%
1992
0.49
+68.97%
1991
0.29
--
53

Below are Dividend.com's proprietary DARS Ratings for CPB as of Nov. 23,
Dividend.com DARS Ratings for CPB

Relative Strength
2.5
CPB is performing in-line with the market or better.
3.5
CPB's dividend yield is above the industry average.
4.0
CPB has been paying dividends for 109 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
CPB has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
CPB's earnings estimates are flat.
54

Dividend.com 2012 Forecast for CPB
Potential Catalysts
Similar to competitor Conagra Foods (CAG), the stock could be a safe

haven for investors in a volatile market.
Potential Concerns
Stock has been dead money for a full decade, and there has been little in
the way of takeover interest.
Valuation is not super cheap.
Margins could be negatively affected if food inflation/commodity costs
trend higher.
Bottom Line
CPB trailed all of its major industry competitors in terms of 2011 performance.
Without any meaningful price gains to speak of, its yield of 3.5% simply isnt
enough. So, we see very little on the horizon in 2012 to get excited about.
Additional Resources for CPB
Dividend.com Profile Page for CPB

Full Dividend Payout History for CPB
55
Chevron Corporation (CVX)

2011 Range:
80.41 - 110.01
Market Cap:
192.0B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
13.73
Annualized Div:
3.24
Div. Yield:
0.24
2012 EPS Est:
10,591,400
7.09
12.82
3.39%
0.25
CVX Five-Year Stock Chart
Company Profile
Chevron Corporation (CVX) is one of the world's largest integrated energy
companies. The company conducts business in more than 100 countries. Chevron
is engaged in every aspect of the oil and natural gas industry, including
exploration and production, manufacturing, marketing and transportation,
chemicals manufacturing and sales, geothermal, and power generation. Formerly
known as Standard Oil Company of California, then ChevronTexaco
Corporation, Chevron Corporation was founded in 1879 and its headquartered
in San Ramon, California.
56

Year
Annualized Payout
Change
2010
2.84
+6.77%
2009
2.66
+5.14%
2008
2.53
+11.95%
2007
2.26
+12.44%
2006
2.01
+14.86%
2005
1.75
+14.38%
2004
1.53
+6.99%
2003
1.43
+2.14%
2002
1.40
+5.66%
2001
1.325
+1.92%
2000
1.30
+4.84%
1999
1.24
+1.64%
1998
1.22
+7.02%
1997
1.14
+9.62%
1996
1.04
+8.11%
1995
0.962
+4.06%
1994
0.9245
+5.66%
1993
0.875
+6.06%
1992
0.825
+1.54%
1991
0.8125
--
57

Below are Dividend.com's proprietary DARS Ratings for CVX as of Nov. 23,
Dividend.com DARS Ratings for CVX

Relative Strength
3.0
CVX is performing in-line with the market or better.
3.0
CVX's dividend yield is just average.
4.5
CVX has been paying dividends for 99 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
CVX has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
CVX's earnings estimates are flat.
58

Dividend.com 2012 Forecast for CVX
Potential Catalysts
If energy prices move back up, this company tends to outperform its oil
industry peers.
Potential Concerns
If an economic rebound takes a while to develop, energy prices could take

a hit.
Stocks yield hovers near 3% level, which is not as attractive as we would
like.
Bottom Line
CVX would be a great stock to own for 2012 if you could get in at an entry
point where its yield is closer to 4%. That would mean a drop all the way down
to low $80s level, however, which hasnt been hit since November 2010.
Additional Resources for CVX
Dividend.com Profile Page for CVX

Full Dividend Payout History for CVX
59
Dominion Resources Inc. (D)

2011 Range:
41.13 - 51.44
Market Cap:
28.748B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
3.13
2012 EPS Est:
Annualized Div:
1.97
Div. Yield:
0.63
3,223,790
19.40
3.28
3.89%
0.60
D Five-Year Stock Chart
Company Profile
Dominion Resources, Inc. (D) is an energy producer and transporter. The
company's business consists of electric power generation and transmission and
natural gas storage and transmission, serving customers in 14 states. Dominion
was founded in 1983 and is headquartered in Richmond, Virginia.
60

Year
Annualized Payout
Change
2010
1.374
-21.58%
2009
1.752
+10.89%
2008
1.58
+25.10%
2007
1.263
-8.48%
2006
1.38
+2.99%
2005
1.34
+3.08%
2004
1.30
+0.78%
2003
1.29
--
2002
1.29
--
2001
1.29
--
2000
1.29
--
1999
1.29
--
1998
1.29
--
1997
1.29
--
1996
1.29
--
1995
1.29
+1.18%
1994
1.275
+2.82%
1993
1.24
+3.33%
1992
1.20
+3.75%
1991
1.15668
--
61

Below are Dividend.com's proprietary DARS Ratings for D as of Nov. 23, 2011.
Each value is based on a scale of 1 to 5.
Dividend.com DARS Ratings for D

Relative Strength
3.0
D is performing in-line with the market or better.
3.0
D's dividend yield is just average.
4.5
D has been paying dividends for 86 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
D has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
D's earnings estimates are flat.
62

Dividend.com 2012 Forecast for D
Potential Catalysts
A solid utility play with a near 4% dividend yield.

Is trading near all-time highs and thus has little overhead technical
resistance.
Potential Concerns
Stock could fall out of favor if the economy rebounds and investors turn
instead to growth-related companies.
Bottom Line
Dominion has a rock-solid business model and should continue to work as an
investment through 2012 and beyond. However, we wouldnt chase the stock up
if its yield falls below the 3.5% level.
Additional Resources for D
Dividend.com Profile Page for D

Full Dividend Payout History for D
63
DuPont & Company (DD)

2011 Range:
37.10 - 57.00
Market Cap:
42.195B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
4.03
2012 EPS Est:
Annualized Div:
1.64
Div. Yield:
0.41
8,701,880
12.35
4.36
3.61%
0.38
DD Five-Year Stock Chart
Company Profile
E. I. du Pont de Nemours and Company (DD), commonly known as DuPont, is a
diversified chemicals company. The company operates in six segments:
Agriculture & Nutrition, Coatings & Color Technologies, Electronic &
Communication Technologies, Performance Materials, Safety & Protection, and
Pharmaceuticals. DuPont, which has operations in 75 countries, was founded in
1802 and is headquartered in Wilmington, Delaware.
64

Year
Annualized Payout
Change
2010
1.64
--
2009
1.64
--
2008
1.64
+7.89%
2007
1.52
+2.70%
2006
1.48
+1.37%
2005
1.46
+4.29%
2004
1.40
--
2003
1.40
--
2002
1.40
--
2001
1.40
--
2000
1.40
--
1999
1.40
+2.56%
1998
1.365
+10.98%
1997
1.23
+10.31%
1996
1.115
+9.85%
1995
1.015
+11.54%
1994
0.91
+3.41%
1993
0.88
+1.15%
1992
0.87
+3.57%
1991
0.84
--
65

Below are Dividend.com's proprietary DARS Ratings for DD as of Nov. 23,
Dividend.com DARS Ratings for DD

Relative Strength
2.5
DD is performing in-line with the market or better.
4.0
DD's dividend yield is above the industry average.
4.5
DD has been paying dividends for 107 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
DD has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
2.5
DD's earnings estimates are flat.
66

Dividend.com 2012 Forecast for DD
Potential Catalysts
Cyclical play with an attractive dividend yield over 3.5%, which is very
rare to find.
Stock could rebound if economy bottoms.
Potential Concerns
If economic headwinds worsen, cyclical stocks suffer greatly.

High dividend payout could be in jeopardy if conditions deteriorate, as
cyclicals tend not to hesitate about cutting dividends to preserve cash.
Bottom Line
Were cautious about the global economy in 2012, and demand for DuPonts
products could wane if its customers decide to scale back. Wed be very careful
with a cyclical play such as this one.
Additional Resources for DD
Dividend.com Profile Page for DD

Full Dividend Payout History for DD
67
Diageo plc (DEO)

2011 Range:
69.02 - 85.53
Market Cap:
51.024B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
6.04
2012 EPS Est:
Annualized Div:
2.58
Div. Yield:
0.43
692,529
16.86
6.32
3.18%
0.41
DEO Five-Year Stock Chart
Company Profile
Diageo plc (DEO) is a distilled spirits company. The company engages in the
production, distillation, brewing, bottling, packaging, distribution, development,
and marketing of beer, wine, and other alcoholic beverages worldwide. Some of
its key brands include Smirnoff vodka, Johnnie Walker Scotch whiskey, Captain
Morgan rum, Baileys Original Irish Cream liqueur, Tanqueray gin, and Guinness
stout beer. Its Diageo was founded in 1886 and is based in London, England.
68
Diageo plc (DEO)

Year
Annualized Payout
Change
2010
2.38
+6.39%
2009
2.237
-13.56%
2008
2.588
-0.65%
2007
2.605
+13.81%
2006
2.289
+3.90%
2005
2.203
+9.06%
2004
2.02
+19.24%
2003
1.694
+5.88%
2002
1.60
+10.73%
2001
1.445
+3.21%
2000
1.40
+0.36%
1999
1.395
-11.09%
1998
1.569
--
69
Diageo plc (DEO)

Below are Dividend.com's proprietary DARS Ratings for DEO as of Nov. 23,
Dividend.com DARS Ratings for DEO

Relative Strength
2.5
DEO is performing in-line with the market or better.
3.5
DEO's dividend yield is above the industry average.
4.5
DEO has been paying dividends for 13 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
DEO has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
DEO's earnings estimates are flat.
70
Diageo plc (DEO)

Dividend.com 2012 Forecast for DEO
Potential Catalysts
The wine and spirits business tends to be recession-resistant.

Investors could continue to hide in this name if the economy stalls.
Stock has an over 3% yield.
Potential Concerns
Foreign companies like DEO often determine their dividend payouts on a

quarter-by-quarter basis, making it a very difficult play for income
investors.
Bottom Line
DEO could be well-positioned to leverage any economic weakness to acquire
smaller competitors at attractive valuations. Since its a foreign name whose
payout fluctuates often, its more of a growth/yield hybrid play, and its as
attractive for older, income-seeking investors.
Additional Resources for DEO
Dividend.com Profile Page for DEO

Full Dividend Payout History for DEO
71
Dow Chemical (DOW)

2011 Range:
20.61 - 42.23
Market Cap:
29.724B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.67
2012 EPS Est:
Annualized Div:
1.00
Div. Yield:
0.37
12,385,000
10.34
2.89
3.96%
0.35
DOW Five-Year Stock Chart
Company Profile
The Dow Chemical Company (DOW) is a diversified producer of chemicals used
to make various consumer products worldwide. DOW produces chemicals,
plastic materials, agricultural components, and many other specialized products
and services for customers in over 160 countries. Dow Chemical was founded in
1897 and is based in Midland, Michigan.
72
Dow Chemical (DOW)

Year
Annualized Payout
Change
2010
0.60
--
2009
0.60
-64.29%
2008
1.68
+2.75%
2007
1.635
+9.00%
2006
1.50
+11.94%
2005
1.34
--
2004
1.34
--
2003
1.34
--
2002
1.34
+14.14%
2001
1.174
+1.21%
2000
1.16
--
1999
1.16
--
1998
1.16
+3.57%
1997
1.12
+12.00%
1996
1.00
+3.45%
1995
0.96667
+11.54%
1994
0.86668
--
1993
0.86668
--
1992
0.86668
--
1991
0.86668
--
73
Dow Chemical (DOW)

Below are Dividend.com's proprietary DARS Ratings for DOW as of Nov. 23,
Dividend.com DARS Ratings for DOW

Relative Strength
2.5
DOW is performing in-line with the market or better.
3.5
DOW's dividend yield is above the industry average.
4.0
DOW has been paying dividends for 100 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
DOW has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
2.5
DOW's earnings estimates are flat.
74
Dow Chemical (DOW)

Dividend.com 2012 Forecast for DOW
Potential Catalysts
Similar to competitor Dupont (DD), the stock could rebound sharply if

global economic pressures subside.
Potential Concerns
Company could be tempted to make another large-scale acquisition, as

many considered its deal for Rohm & Haas was.
Dividend payout may not be sustainable if economic downtrend persists.
Bottom Line
DOWs price performance trailed that of its competitors significantly. If you
absolutely are looking for exposure in the chemical space, we prefer its
competitor, DuPont (DD).
Additional Resources for DOW
Dividend.com Profile Page for DOW

Full Dividend Payout History for DOW
75
Dr Pepper Snapple Group Inc (DPS)

2011 Range:
33.66 - 43.13
Market Cap:
7.643B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.73
2012 EPS Est:
Annualized Div:
1.28
Div. Yield:
0.47
1,950,910
14.57
2.93
3.57%
0.44
DPS Five-Year Stock Chart
Company Profile
Dr Pepper Snapple Group Inc. (DPS) is a producer, bottler, and distributor of
non-alcoholic beverages throughout the United States, Canada, and Mexico. Its
portfolio of teas, juices, juice drinks, and mixers include the RC Cola, Dr Pepper,
Squirt, Welch's, Country Time, Snapple, Mott's, Hawaiian Punch, Nantucket
Nectars, and Yoo-Hoo brands. Dr. Pepper Snapple was spun off from Cadbury
plc in 2008 and is headquartered in Plano, Texas.
76

Year
Annualized Payout
Change
2010
1.15
+666.67%
2009
0.15
--
77

Below are Dividend.com's proprietary DARS Ratings for DPS as of Nov. 23,
Dividend.com DARS Ratings for DPS

Relative Strength
2.5
DPS is performing in-line with the market or better.
3.5
DPS's dividend yield is above the industry average.
4.5
DPS has been paying dividends for 2 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
DPS has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
DPS's earnings estimates are flat.
78

Dividend.com 2012 Forecast for DPS
Potential Catalysts
Company has been mentioned as a takeover play.

Stock trading near all-time highs with little technical overhead resistance.
Greeted investors with generous with dividend increases in its short time
as a publicly-traded company.
Potential Concerns
Could get boxed out by bigger competitors over time.

Not anywhere near large enough to overtake the top two brands in the
beverage space, Coca-Cola (KO) and PepsiCo (PEP).
Bottom Line
DPS is a solid consumer play for dividend investors on pullbacks, but we
wouldnt chase it if its yield falls below 3%.
Additional Resources for DPS
Dividend.com Profile Page for DPS

Full Dividend Payout History for DPS
79
Darden Restaurants Inc. (DRI)

2011 Range:
40.69 - 53.81
Market Cap:
5.981B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
3.78
2012 EPS Est:
Annualized Div:
1.72
Div. Yield:
0.46
2,360,270
13.42
4.29
3.80%
0.40
DRI Five-Year Stock Chart
Company Profile
Darden Restaurants, Inc. (DRI) owns and operates nearly 1,900 casual dining
restaurants in the United States and Canada. Its famous restaurant chains include
Red Lobster, Olive Garden, LongHorn Steakhouse, The Capital Grille, Bahama
Breeze, and Seasons 52. Darden was founded in 1968 and is based in Orlando,
Florida.
80

Year
Annualized Payout
Change
2010
1.14
+26.67%
2009
0.90
+18.42%
2008
0.76
+28.81%
2007
0.59
+37.21%
2006
0.43
+79.17%
2005
0.24
+200.00%
2004
0.08
--
2003
0.08
+19.99%
2002
0.06667
+24.99%
2001
0.05334
--
2000
0.05334
+33.35%
1999
0.04
-25.01%
1998
0.05334
--
1997
0.05334
+33.35%
1996
0.04
+49.98%
1995
0.02667
--
81

Below are Dividend.com's proprietary DARS Ratings for DRI as of Nov. 23,
Dividend.com DARS Ratings for DRI

Relative Strength
2.5
DRI is performing in-line with the market or better.
3.5
DRI's dividend yield is above the industry average.
4.0
DRI has been paying dividends for 16 years, and we its dividend yield is safe.
Dividend Uptrend
3.5
DRI has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
DRI's earnings estimates are flat.
82

Dividend.com 2012 Forecast for DRI
Potential Catalysts
Consumers still have an appetite for casual restaurant outings.

Stock offers a generous dividend yield over 3.5%.
Potential Concerns
Higher food costs could eat into margins.

Rising unemployment could sap the companys customer base.
Bottom Line
Given its relatively low cash position, we wonder if the company can really
sustain its attractive dividend payout in the face of heavy competition and
consumer worries. Be very careful with this stock in 2012.
Additional Resources for DRI
Dividend.com Profile Page for DRI

Full Dividend Payout History for DRI
83
Duke Energy Corporation (DUK)

2011 Range:
16.87 - 21.02
Market Cap:
26.575B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
1.42
2012 EPS Est:
Annualized Div:
1.00
Div. Yield:
0.70
14,602,100
14.49
1.43
4.99%
0.70
DUK Five-Year Stock Chart
Company Profile
Duke Energy Corporation (DUK) is an electric power company. The company
supplies and delivers energy from its power plants to customers in the
Midwestern U.S. and the Carolinas, as well in Latin America. Its three segments
include U.S. Franchised Electric and Gas, Commercial Power, and International
Energy. Duke Energy was founded 1916 and is headquartered in Charlotte,
North Carolina.
84

Year
Annualized Payout
Change
2010
0.97
+3.19%
2009
0.94
+4.44%
2008
0.90
+4.65%
2007
0.86
-31.75%
2006
1.26
+46.51%
2005
0.86
-21.82%
2004
1.10
--
2003
1.10
--
2002
1.10
--
2001
1.10
--
2000
1.10
--
1999
1.10
--
1998
1.10
+1.85%
1997
1.08
+3.85%
1996
1.04
+4.00%
1995
1.00
+4.17%
1994
0.96
+4.35%
1993
0.92
+4.55%
1992
0.88
+4.76%
1991
0.84
--
85

Below are Dividend.com's proprietary DARS Ratings for DUK as of Nov. 23,
Dividend.com DARS Ratings for DUK

Relative Strength
3.0
DUK is performing in-line with the market or better.
4.5
DUK's dividend yield extremely attractive for dividend investors.
4.5
DUK has been paying dividends for 85 years, and we feel its dividend yield
is extremely safe.
Dividend Uptrend
4.0
DUK has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
DUK's earnings estimates are flat.
86

Dividend.com 2012 Forecast for DUK
Potential Catalysts
Solid utility play that offers a safe haven for investors in a volatile market.
Has a very attractive near 5% yield.
Potential Concerns
Stock could become over-owned making the yield less attractive.

Faces a potential merger hiccup in 2012 stemming from large deal to
acquire Progress Energy (PGN).
Bottom Line
This utility operator outperformed many of its peers in 2011, and were
optimistic that 2012 will be another good year for DUK. However, we wouldnt
chase the stock past the mid-$20s price point.
Additional Resources for DUK
Dividend.com Profile Page for DUK

Full Dividend Payout History for DUK
87
Consolidated Edison Inc. (ED)

2011 Range:
47.51 - 59.89
Market Cap:
16.739B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
3.58
2012 EPS Est:
Annualized Div:
2.40
Div. Yield:
0.67
2,423,720
15.48
3.71
4.17%
0.65
ED Five-Year Stock Chart
Company Profile
Consolidated Edison, Inc. (ED), also known as ConEd or Con Edison, provides
electric, gas, and steam utility services primarily in the greater New York
metropolitan area. It boasts over 3.3 million electric power customers and an
additional 1.1 million natural gas customers. Con Edison was founded in 1884
and is based in New York, New York.
88

Year
Annualized Payout
Change
2010
2.38
+0.85%
2009
2.36
+0.85%
2008
2.34
+0.86%
2007
2.32
+0.87%
2006
2.30
+0.88%
2005
2.28
+0.88%
2004
2.26
+0.89%
2003
2.24
+0.90%
2002
2.22
+0.91%
2001
2.20
+0.92%
2000
2.18
+1.87%
1999
2.14
+0.94%
1998
2.12
+0.95%
1997
2.10
+0.96%
1996
2.08
+1.96%
1995
2.04
+2.00%
1994
2.00
+3.09%
1993
1.94
+2.11%
1992
1.90
+2.15%
1991
1.86
--
89

Below are Dividend.com's proprietary DARS Ratings for ED as of Nov. 23,
Dividend.com DARS Ratings for ED

Relative Strength
3.0
ED is performing in-line with the market or better.
3.0
ED's dividend yield is just average.
4.5
ED has been paying dividends for 126 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
ED has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
ED's earnings estimates are flat.
90

Dividend.com 2012 Forecast for ED
Potential Catalysts
A long-time favorite utility play for income investors.

Could continue to garner investor interest if market volatility remains.
Potential Concerns
Stock could become overbought, causing its yield to fall below 4%.
Bottom Line
The ultimate safe haven plays like ED are at risk of being over-owned, but theres
no reason not to hold onto them at least until that happens.
Additional Resources for ED
Dividend.com Profile Page for ED

Full Dividend Payout History for ED
91
Emerson Electric Company (EMR)

2011 Range:
39.50 - 62.24
Market Cap:
36.169B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
3.61
2012 EPS Est:
Annualized Div:
1.60
Div. Yield:
0.44
6,034,030
14.93
4.04
3.27%
0.40
EMR Five-Year Stock Chart
Company Profile
Emerson Electric Co. (EMR) is a world leader in the design, manufacture, and
sale of electrical, electromechanical, and electronic products. The company is
comprised of five units: Process Management, Industrial Automation, Network
Power, Climate Technologies, and Tools and Storage. Emerson was founded in
1890 and is based in St. Louis, Missouri.
92

Year
Annualized Payout
Change
2010
1.35
+1.89%
2009
1.325
+7.72%
2008
1.23
+12.95%
2007
1.089
+17.10%
2006
0.93
+10.06%
2005
0.845
+4.64%
2004
0.8075
+2.28%
2003
0.7895
+1.41%
2002
0.7785
+1.30%
2001
0.7685
+5.49%
2000
0.7285
+9.30%
1999
0.6665
+10.17%
1998
0.605
+9.50%
1997
0.5525
+9.95%
1996
0.5025
+9.24%
1995
0.46
+15.00%
1994
0.40
+8.84%
1993
0.3675
+5.38%
1992
0.34875
+4.49%
1991
0.33375
--
93

Below are Dividend.com's proprietary DARS Ratings for EMR as of Nov. 23,
Dividend.com DARS Ratings for EMR

Relative Strength
2.5
EMR is performing in-line with the market or better.
3.5
EMR's dividend yield is above the industry average.
4.0
EMR has been paying dividends for 64 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
EMR has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
2.5
EMR's earnings estimates are flat.
94

Dividend.com 2012 Forecast for EMR
Potential Catalysts
Stock has pulled back to levels where its dividend yield is a fairly
attractive 3%.
Potential Concerns
Continuation of global slowdown could make the stock dead money.
Bottom Line
Many investors that consider this companys stock tend to buy shares of General
Electric (GE) instead. Regardless, both stocks underperformed in 2011 and will
need a real economic recovery to take hold in 2012 in order to provide
meaningful returns to investors.
Additional Resources for EMR
Dividend.com Profile Page for EMR

Full Dividend Payout History for EMR
95
Eaton Corporation (ETN)

2011 Range:
33.09 - 56.49
Market Cap:
14.307B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
4.00
2012 EPS Est:
Annualized Div:
1.36
Div. Yield:
0.34
4,505,860
11.67
4.48
3.16%
0.30
ETN Five-Year Stock Chart
Company Profile
Eaton Corporation (ETN) designs, manufactures, markets, and services electrical
systems and components worldwide. The company is comprised of five units:
Electrical Americas and Electrical Rest of World, Hydraulics, Aerospace, Truck,
and Automotive. The company was founded in 1916 and is headquartered in
Cleveland, Ohio.
96

Year
Annualized Payout
Change
2010
2.16
+8.00%
2009
2.00
--
2008
2.00
+16.28%
2007
1.72
+16.22%
2006
1.48
+19.35%
2005
1.24
+14.81%
2004
1.08
+17.39%
2003
0.92
+4.55%
2002
0.88
-85.60%
2001
6.112
+594.55%
2000
0.88
--
1999
0.88
--
1998
0.88
+2.33%
1997
0.86
+7.50%
1996
0.80
+6.67%
1995
0.75
+25.00%
1994
0.60
+4.35%
1993
0.575
+4.55%
1992
0.55
--
1991
0.55
--
97

Below are Dividend.com's proprietary DARS Ratings for ETN as of Nov. 23,
Dividend.com DARS Ratings for ETN

Relative Strength
2.5
ETN is performing in-line with the market or better.
3.5
ETN's dividend yield is above the industry average.
4.0
ETN has been paying dividends for 88 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
ETN has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
ETN's earnings estimates are flat.
98

Dividend.com 2012 Forecast for ETN
Potential Catalysts
Stock has pulled back to levels where its dividend yield is a fairly
attractive 3%.
Potential Concerns
Continuation of global slowdown could make the stock dead money.
Bottom Line
Many investors that consider this companys stock instead tend to buy shares of
General Electric (GE). Regardless, both stocks underperformed in 2011 and will
need a real economic recovery to take hold in 2012 in order to provide
meaningful returns to investors.
Additional Resources for ETN
Dividend.com Profile Page for ETN

Full Dividend Payout History for ETN
99
Entergy Corporation (ETR)

2011 Range:
57.60 - 74.50
Market Cap:
11.979B
Avg. Volume:
1,640,760
P/E Ratio:
8.62
5.94
2011 EPS Est:
7.45
2012 EPS Est:
Annualized Div:
3.32
Div. Yield:
0.45
4.86%
0.56
ETR Five-Year Stock Chart
Company Profile
Entergy Corporation (ETR) is an electric power producer and retail distributor in
the United States. The company operates six nuclear power plants and supplies
power to over 3.3 million customers in Arkansas, Mississippi, Texas, and
Louisiana. Entergy was founded in 1989 and is based in New Orleans, Louisiana.
100

Year
Annualized Payout
Change
2010
3.24
+8.00%
2009
3.00
--
2008
3.00
+16.28%
2007
2.58
+19.44%
2006
2.16
--
2005
2.16
+14.29%
2004
1.89
+18.13%
2003
1.60
+19.40%
2002
1.34
+5.10%
2001
1.275
+4.94%
2000
1.215
+1.25%
1999
1.20
-20.00%
1998
1.50
-16.67%
1997
1.80
--
1996
1.80
--
1995
1.80
--
1994
1.80
+9.09%
1993
1.65
+13.79%
1992
1.45
+16.00%
1991
1.25
--
101

Below are Dividend.com's proprietary DARS Ratings for ETR as of Nov. 23,
Dividend.com DARS Ratings for ETR

Relative Strength
2.5
ETR is performing in-line with the market or better.
3.5
ETR's dividend yield is above the industry average.
4.0
ETR has been paying dividends for 23 years, and we its dividend yield is
safe.
Dividend Uptrend
3.0
ETR has shown consistency in its payouts, but any increases have been small.
Earnings Growth
2.5
ETR's earnings estimates are flat.
102

Dividend.com 2012 Forecast for ETR
Potential Catalysts
Company has an eye-popping 5%+ dividend yield.

Valuation is fairly cheap.
Potential Concerns
Concerns about nuclear energy have taken hold, making the stock a risky
proposition.
Bottom Line
2011 was a terrible year for nuclear-related investments like ETR following the
Japan earthquake disaster. Even a mild subsequent catastrophe could spell big
trouble for nuclear operators, so were not sure the sizable yield is worth the
risk.
Additional Resources for ETR
Dividend.com Profile Page for ETR

Full Dividend Payout History for ETR
103
General Electric Company (GE)

2011 Range:
14.68 - 21.65
Market Cap:
160.3B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
1.37
2012 EPS Est:
Annualized Div:
0.60
Div. Yield:
0.44
69,843,600
11.66
1.57
3.94%
0.38
GE Five-Year Stock Chart
Company Profile
General Electric Company (GE) is a multinational conglomerate engaged in
medical systems, financial services, appliances, aircraft engines, water treatment,
and lighting, among other businesses. GE was founded in 1892 and is
headquartered in Fairfield, Connecticut.
104

Year
Annualized Payout
Change
2010
0.60
-1.64%
2009
0.61
-50.81%
2008
1.24
+7.83%
2007
1.15
+11.65%
2006
1.03
+13.19%
2005
0.91
+10.98%
2004
0.82
+6.49%
2003
0.77
+5.48%
2002
0.73
+10.61%
2001
0.66
+15.65%
2000
0.57067
+17.26%
1999
0.48668
+16.80%
1998
0.41667
+15.74%
1997
0.36001
+13.68%
1996
0.31668
+12.43%
1995
0.28166
+13.42%
1994
0.24833
+14.17%
1993
0.2175
+12.50%
1992
0.19333
+11.54%
1991
0.17333
--
105

Below are Dividend.com's proprietary DARS Ratings for GE as of Nov. 23,
Dividend.com DARS Ratings for GE

Relative Strength
2.5
GE is performing in-line with the market or better.
3.5
GE's dividend yield is above the industry average.
4.0
GE has been paying dividends for 112 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
GE has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
GE's earnings estimates are flat.
106

Dividend.com 2012 Forecast for GE
Potential Catalysts
Company continues to inch its dividend payout back up.

Calls for a company break-up to unlock value could intensify if stock
continues to play dead.
Potential Concerns
Company is still laboring to get back to its former glory days.

Seeing the company slash its dividend a few years back could continue to
keep some diehard dividend investors away.
Bottom Line
Were really on the fence with this huge company and its prospects for 2012. On
one hand, GEs near 4% dividend yield is attractive, but on the other, its return to
prominence is likely still a ways off. Plus, its recent profit gains have come on
mostly stagnant revenue.
Additional Resources for GE
Dividend.com Profile Page for GE

Full Dividend Payout History for GE
107
General Mills Inc. (GIS)

2011 Range:
34.54 - 40.25
Market Cap:
24.657B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.61
2012 EPS Est:
Annualized Div:
1.22
Div. Yield:
0.47
4,845,450
14.71
2.83
3.18%
0.43
GIS Five-Year Stock Chart
Company Profile
General Mills, Inc. (GIS) is a leading global manufacturer and marketer of
consumer food products. Its business operates in three segments: U.S. Retail,
International, and Bakeries and Foodservice. Its products are manufactured in 15
countries and sold in over 100 countries worldwide. General Mills was
established in 1866 and is headquartered Minneapolis, Minnesota.
108

Year
Annualized Payout
Change
2010
1.54
-14.44%
2009
1.80
+9.09%
2008
1.65
+8.55%
2007
1.52
+10.14%
2006
1.38
+115.63%
2005
0.64
-45.30%
2004
1.17
+6.36%
2003
1.10
--
2002
1.10
--
2001
1.10
--
2000
1.10
--
1999
1.10
+3.77%
1998
1.06
+1.44%
1997
1.045
+6.09%
1996
0.985
+4.79%
1995
0.94
--
1994
0.94
+5.62%
1993
0.89
+12.66%
1992
0.79
+14.49%
1991
0.69
--
109

Below are Dividend.com's proprietary DARS Ratings for GIS as of Nov. 23,
Dividend.com DARS Ratings for GIS

Relative Strength
3.0
GIS is performing in-line with the market or better.
3.0
GIS's dividend yield is just average.
4.5
GIS has been paying dividends for 113 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
GIS has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
GIS's earnings estimates are flat.
110

Dividend.com 2012 Forecast for GIS
Potential Catalysts
Stock can outperform during an economic slowdown as it did in 2011.

Company has boosted its dividend by 63% in the past five years.
Industry is fairly recession resistant.
Trading near all-time highs, so little overhead resistance on its share
price.
Potential Concerns
Company could be at risk from cheaper private label brands.

Stock could become overbought, pushing its yield below 3%.
Bottom Line
General Mills was a mainstay for many dividend investors in 2011, and we see
no reason for that fact to change in 2012.
Additional Resources for GIS
Dividend.com Profile Page for GIS

Full Dividend Payout History for GIS
111
Genuine Parts Company (GPC)

2011 Range:
44.13 - 57.66
Market Cap:
8.572B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
3.55
2012 EPS Est:
Annualized Div:
1.80
Div. Yield:
0.51
1,326,100
15.88
3.95
3.27%
0.46
GPC Five-Year Stock Chart
Company Profile
Genuine Parts Company (GPC) is chiefly a distributor of automotive
replacement parts in the U.S., Canada, and Mexico. The company operates in
four segments: Automotive Parts Group, Industrial Parts Group, Office Products
Group, and Electrical/Electronic Materials Group. GPC was was founded in 1928
and is headquartered in Atlanta, Georgia.
112

Year
Annualized Payout
Change
2010
1.64
+2.50%
2009
1.60
+2.56%
2008
1.56
+6.85%
2007
1.46
+7.99%
2006
1.352
+7.99%
2005
1.252
+4.33%
2004
1.20
+1.69%
2003
1.18
+1.72%
2002
1.16
+1.75%
2001
1.14
+3.64%
2000
1.10
+5.77%
1999
1.04
+4.00%
1998
1.00
+4.17%
1997
0.96
+7.46%
1996
0.89332
+6.35%
1995
0.84
+9.47%
1994
0.76733
+9.83%
1993
0.69868
+4.80%
1992
0.66668
+3.59%
1991
0.64356
--
113

Below are Dividend.com's proprietary DARS Ratings for GPC as of Nov. 23,
Dividend.com DARS Ratings for GPC

Relative Strength
3.5
GPC is outperforming much of the market.
3.0
GPC's dividend yield is just average.
4.5
GPC has been paying dividends for 63 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.0
GPC has shown consistency in its payouts, but any increases have been small.
Earnings Growth
3.0
GPC's earnings estimates are flat.
114

Dividend.com 2012 Forecast for GPC
Potential Catalysts
Company is well-diversified and has potential as a break-up play.

Offers a good combination of growth and yield.
Stock is trading near all-time highs, so it has little overhead resistance.
Potential Concerns
Company is very much at the mercy of a global economic slowdown.
Bottom Line
As the share price has grown, the company has shown a willingness to raise its
dividend payout. Genuine Parts could be a solid name for investors to own in
2012 if the economy finds a solid bottom.
Additional Resources for GPC
Dividend.com Profile Page for GPC

Full Dividend Payout History for GPC
115
Hasbro Inc. (HAS)

2011 Range:
31.36 - 50.17
Market Cap:
4.481B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.91
2012 EPS Est:
Annualized Div:
1.20
Div. Yield:
0.41
2,008,250
12.63
3.30
3.42%
0.36
HAS Five-Year Stock Chart
Company Profile
Hasbro, Inc. (HAS) is one of the world's oldest toymakers. The company
manufactures, markets, and distributes toys under the Hasbro, Playskool, Tonka,
Tiger, Milton Bradley, Parker Brothers, Nerf, Tinkertoys and G.I. Jo brands.
Hasbro was founded in 1923 and is based in Pawtucket, Rhode Island.
116
Hasbro Inc. (HAS)

Year
Annualized Payout
Change
2010
0.95
+18.75%
2009
0.80
+5.26%
2008
0.76
+26.67%
2007
0.60
+81.82%
2006
0.33
--
2005
0.33
+57.14%
2004
0.21
+75.00%
2003
0.12
--
2002
0.12
--
2001
0.12
-50.00%
2000
0.24
+2.86%
1999
0.23333
+9.38%
1998
0.21332
+4.34%
1997
0.20444
+21.04%
1996
0.1689
+22.60%
1995
0.13776
+14.80%
1994
0.12
+17.38%
1993
0.10223
+21.07%
1992
0.08444
+23.90%
1991
0.06815
--
117
Hasbro Inc. (HAS)

Below are Dividend.com's proprietary DARS Ratings for HAS as of Nov. 23,
Dividend.com DARS Ratings for HAS

Relative Strength
2.5
HAS is performing in-line with the market or better.
3.5
HAS's dividend yield is above the industry average.
4.0
HAS has been paying dividends for 30 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
HAS has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
HAS's earnings estimates are flat.
118
Hasbro Inc. (HAS)

Dividend.com 2012 Forecast for HAS
Potential Catalysts
Stock has an attractive dividend yield at well over 3%.

Companys valuation makes its shares attractive, at about ten times 2012
estimates.
Potential Concerns
Changing toy demands from fickle consumers could leave the company at
the mercy of various hot and cold cycles.
Bottom Line
Hasbro is a decent dividend play for investors looking to park some money in a
well-established brand, but dont expect much share price appreciation. The
stock underperformed severely in 2011 and there are no apparent catalysts on the
horizon to spur growth.
Additional Resources for HAS
Dividend.com Profile Page for HAS

Full Dividend Payout History for HAS
119
H.J. Heinz Company (HNZ)

2011 Range:
46.99 - 55.00
Market Cap:
16.357B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
3.33
2012 EPS Est:
Annualized Div:
1.92
Div. Yield:
0.58
2,628,070
16.79
3.64
3.80%
0.53
HNZ Five-Year Stock Chart
Company Profile
H.J. Heinz Company (HNZ) is a worldwide food products maker. The
company's primary products include ketchup, condiments and sauces, frozen
foods, soups, beans and pasta meals, and infant nutrition. Heinz was founded in
1869 and is based in Pittsburgh, Pennsylvania.
120

Year
Annualized Payout
Change
2010
1.77
+5.67%
2009
1.675
+3.08%
2008
1.625
+9.06%
2007
1.49
+10.37%
2006
1.35
+50.00%
2005
0.90
-21.05%
2004
1.14
+5.56%
2003
1.08
-48.08%
2002
2.08
+30.33%
2001
1.596
+4.86%
2000
1.522
+7.11%
1999
1.421
+8.14%
1998
1.314
+8.60%
1997
1.21
+9.01%
1996
1.11
+9.87%
1995
1.01033
+9.82%
1994
0.92
+9.52%
1993
0.84
+10.53%
1992
0.76
+11.76%
1991
0.68
--
121

Below are Dividend.com's proprietary DARS Ratings for HNZ as of Nov. 23,
Dividend.com DARS Ratings for HNZ

Relative Strength
3.0
HNZ is performing in-line with the market or better.
3.5
HNZ's dividend yield is above the industry average.
5.0
HNZ has been paying dividends for 100 years, and we feel its dividend yield
is extremely safe.
Dividend Uptrend
3.5
HNZ has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
HNZ's earnings estimates are flat.
122

Dividend.com 2012 Forecast for HNZ
Potential Catalysts
Steady dividend-increasing stock with a near 4% dividend yield.

Stock is considered a safe haven during economic uncertainties.
Potential Concerns
Restaurant demand could slow amid a continued economic recession.

Consumers could increasingly switch to cheaper generic-brand
condiments.
Bottom Line
Heinz doesnt have the cheapest valuation out there, but its a steady dividend
stock that gets more attractive during pullbacks. We expect the company to keep
up its steady pace of dividend raises in 2012 as well.
Additional Resources for HNZ
Dividend.com Profile Page for HNZ

Full Dividend Payout History for HNZ
123
Intel Corporation (INTC)

2011 Range:
19.16 - 25.50
Market Cap:
118.6B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.45
2012 EPS Est:
Annualized Div:
0.84
Div. Yield:
0.34
63,189,600
10.21
2.56
3.56%
0.33
INTC Five-Year Stock Chart
Company Profile
Intel Corporation (INTC) is a semiconductor chip maker. The company
manufactures and sells semiconductor chips and advanced integrated digital
technology platforms for the computing and communications industries
worldwide. Intel was founded in 1968 and is based in Santa Clara, California.
124

Year
Annualized Payout
Change
2010
0.632
+12.86%
2009
0.56
+2.19%
2008
0.548
+21.24%
2007
0.452
+13.00%
2006
0.40
+25.00%
2005
0.32
+100.00%
2004
0.16
+100.00%
2003
0.08
--
2002
0.08
--
2001
0.08
+14.29%
2000
0.07
+16.67%
1999
0.06
+84.62%
1998
0.0325
+18.18%
1997
0.0275
+22.22%
1996
0.0225
+28.57%
1995
0.0175
+27.18%
1994
0.01376
+9.90%
1993
0.01252
+300.00%
1992
0.00313
--
125

Below are Dividend.com's proprietary DARS Ratings for INTC as of Nov. 23,
Dividend.com DARS Ratings for INTC

Relative Strength
3.0
INTC is performing in-line with the market or better.
3.5
INTC's dividend yield is above the industry average.
4.5
INTC has been paying dividends for 19 years, and we feel its dividend yield
is extremely safe.
Dividend Uptrend
3.5
INTC has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
INTC's earnings estimates are flat.
126

Dividend.com 2012 Forecast for INTC
Potential Catalysts
Company has more than doubled its dividend payout since 2007, helping
build a stronger long-term shareholder base.
Potential Concerns
A former high-flier, company could be a shadow of its former self as

future technologies (such as tablets) take hold.
Bottom Line
Intels performance in 2012 will come down to its execution strategy and how
management decides to position itself for new tech trends. Due to its now
industry-leading yield, INTC is one of the few names in the entire tech space
thats attractive to dividend investors.
Additional Resources for INTC
Dividend.com Profile Page for INTC

Full Dividend Payout History for INTC
127
International Paper Company (IP)

2011 Range:
21.55 - 33.01
Market Cap:
11.779B
Avg. Volume:
5,727,050
P/E Ratio:
8.47
3.12
2011 EPS Est:
3.09
2012 EPS Est:
Annualized Div:
1.05
Div. Yield:
0.34
3.87%
0.34
IP Five-Year Stock Chart
Company Profile
International Paper Company (IP) is a maker of paper and packaging products.
The company operates in five segments: Industrial Packaging, Printing Papers,
Consumer Packaging, Distribution and Forest Products. International Paper was
founded in 1898 and is headquartered in Memphis, Tennessee.
128

Year
Annualized Payout
Change
2010
0.4
+23.08%
2009
0.325
-67.50%
2008
1.00
--
2007
1.00
--
2006
1.00
--
2005
1.00
--
2004
1.00
--
2003
1.00
--
2002
1.00
--
2001
1.00
--
2000
1.00
--
1999
1.00
--
1998
1.00
--
1997
1.00
--
1996
1.00
+8.70%
1995
0.92
+9.52%
1994
0.84
--
1993
0.84
--
1992
0.84
--
1991
0.84
--
129

Below are Dividend.com's proprietary DARS Ratings for IP as of Nov. 23, 2011.
Dividend.com DARS Ratings for IP

Relative Strength
2.5
IP is performing in-line with the market or better.
4.0
IP's dividend yield is above the industry average.
4.0
IP has been paying dividends for 65 years, and we its dividend yield is safe.
Dividend Uptrend
3.5
IP has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
2.5
IP's earnings estimates are flat.
130

Dividend.com 2012 Forecast for IP
Potential Catalysts
Shares are cheap as far as valuations go.

Stocks 4%-plus dividend is attractive.
Potential Concerns
Is a high-risk play as it pursues deal with Temple-Inland (TIN) during a

cyclical slowdown.
High dividend payout could be at risk if economy fails to stabilize.
Bottom Line
International Paper has all the makings of a potential dividend trap for 2012.
The company slashed its dividend in half in 2010 before raising it again, so wed
be very careful when evaluating this name.
Additional Resources for IP
Dividend.com Profile Page for IP

Full Dividend Payout History for IP
131
Illinois Tool Works Inc. (ITW)

2011 Range:
39.12 - 59.27
Market Cap:
21.260B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
3.77
2012 EPS Est:
Annualized Div:
1.44
Div. Yield:
0.38
4,206,710
11.00
4.16
3.29%
0.35
ITW Five-Year Stock Chart
Company Profile
Illinois Tool Works Inc. (ITW) is an industrial products and equipment maker
with operations in 57 countries worldwide. The company's segments include
Transportation, Industrial Packaging, Power Systems & Electronics, Food
Equipment, Construction Products, Polymers & Fluids, Decorative Surfaces, and
Other Products. Illinois Tool Works was founded in 1912 and is based in
Glenview, Illinois.
132

Year
Annualized Payout
Change
2010
1.30
+4.84%
2009
1.24
+5.08%
2008
1.18
+20.41%
2007
0.98
+7.10%
2006
0.915
+50.00%
2005
0.61
+17.31%
2004
0.52
+10.64%
2003
0.47
+5.62%
2002
0.445
+5.95%
2001
0.42
+10.53%
2000
0.38
+15.15%
1999
0.33
+22.22%
1998
0.27
+18.68%
1997
0.2275
+26.39%
1996
0.18
+12.50%
1995
0.16
-7.25%
1994
0.1725
+40.82%
1993
0.1225
+8.89%
1992
0.1125
+12.50%
1991
0.10
--
133

Below are Dividend.com's proprietary DARS Ratings for ITW as of Nov. 23,
Dividend.com DARS Ratings for ITW

Relative Strength
2.5
ITW is performing in-line with the market or better.
3.5
ITW's dividend yield is above the industry average.
4.0
ITW has been paying dividends for 78 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
ITW has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
ITW's earnings estimates are flat.
134

Dividend.com 2012 Forecast for ITW
Potential Catalysts
Stock is reasonably valued following a weak share performance in 2011.

Companys offerings are well-diversified.
Potential Concerns
Stock just isnt the first choice for most investors when it comes to
diversified industrial plays.
Bottom Line
Illinois Tools Works five-year chart is uninspiring, and the company lagged
behind both the indexes and its competitors in 2011. Still, with its business mix
and adequate yield, ITW is still a decent candidate for investors looking to carry
an extra name or two in their portfolios.
Additional Resources for ITW
Dividend.com Profile Page for ITW

Full Dividend Payout History for ITW
135
Johnson & Johnson (JNJ)

2011 Range:
57.50 - 68.05
Market Cap:
172.0B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
4.97
2012 EPS Est:
Annualized Div:
2.28
Div. Yield:
0.46
12,335,900
15.35
5.24
3.62%
0.44
JNJ Five-Year Stock Chart
Company Profile
Johnson & Johnson (JNJ) is a diversified healthcare products maker. The
company operates in three business segments: Consumer, Pharmaceutical and
Medical Devices and Diagnostics. J&J's brands include Aveeno, Band-Aid,
Carefree, Motrin, Neutrogena, Pepcid, Rembrandt, Splenda, Tylenol, Listerine,
Nicorette, and Sudafed. Johnson & Johnson was founded in 1885 and is based in
New Brunswick, New Jersey.
136

Year
Annualized Payout
Change
2010
2.11
+9.33%
2009
1.93
+7.52%
2008
1.795
+10.80%
2007
1.62
+11.34%
2006
1.455
+14.12%
2005
1.275
+16.44%
2004
1.095
+18.38%
2003
0.925
+16.35%
2002
0.795
+13.57%
2001
0.70
+12.90%
2000
0.62
+13.76%
1999
0.545
+12.37%
1998
0.485
+14.12%
1997
0.425
+15.65%
1996
0.3675
+14.84%
1995
0.32
+13.27%
1994
0.2825
+11.88%
1993
0.2525
+13.48%
1992
0.2225
+15.58%
1991
0.1925
--
137

Below are Dividend.com's proprietary DARS Ratings for JNJ as of Nov. 23,
Dividend.com DARS Ratings for JNJ

Relative Strength
2.5
JNJ is performing in-line with the market or better.
3.5
JNJ's dividend yield is above the industry average.
4.5
JNJ has been paying dividends for 67 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
JNJ has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
JNJ's earnings estimates are flat.
138

Dividend.com 2012 Forecast for JNJ
Potential Catalysts
Considered a safe haven for investors during volatile periods.

Company is a well-diversified medical/pharma play.
Potential Concerns
Company has dealt with drug recalls, and wed like to see those issues
end for good.
Perhaps too aggressive of an acquirer, could look to make a big deal
which would cap the stocks 2012 performance.
Bottom Line
Despite its strong positioning as a leading medical/pharmaceutical play, JNJ
stock has been dead money for quite some time. Because of its share price
underperformance, were hoping management gets a bit more generous with the
size of its dividend payouts in 2012.
Additional Resources for JNJ
Dividend.com Profile Page for JNJ

Full Dividend Payout History for JNJ
139
Kellogg Company (K)

2011 Range:
48.69 - 57.70
Market Cap:
17.609B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
3.39
2012 EPS Est:
Annualized Div:
1.72
Div. Yield:
0.51
2,244,930
15.18
3.55
3.50%
0.48
K Five-Year Stock Chart
Company Profile
Kellogg Company (K) makes ready-to-eat cereal and convenience foods. It makes
its various cereals, cookies, crackers, and snacks under the Kellogg's, Keebler,
Cheez-It, Murray, Austin, and Famous Amos brands. Kellogg was founded in
1906 and is headquartered in Battle Creek, Michigan.
140
Kellogg Company (K)

Year
Annualized Payout
Change
2010
1.56
+9.09%
2009
1.43
+10.00%
2008
1.30
+8.15%
2007
1.202
+5.62%
2006
1.138
+7.16%
2005
1.062
+4.94%
2004
1.012
--
2003
1.012
--
2002
1.012
--
2001
1.012
+1.61%
2000
0.996
+3.75%
1999
0.96
+4.35%
1998
0.92
+5.75%
1997
0.87
+7.41%
1996
0.81
+8.00%
1995
0.75
+7.14%
1994
0.70
+6.06%
1993
0.66
+13.79%
1992
0.58
+7.91%
1991
0.5375
--
141
Kellogg Company (K)

Below are Dividend.com's proprietary DARS Ratings for K as of Nov. 23, 2011.
Dividend.com DARS Ratings for K

Relative Strength
3.0
K is performing in-line with the market or better.
3.5
K's dividend yield is above the industry average.
4.5
K has been paying dividends for 88 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.0
K has shown consistency in its payouts, but any increases have been small.
Earnings Growth
3.0
K's earnings estimates are flat.
142
Kellogg Company (K)

Dividend.com 2012 Forecast for K
Potential Catalysts
Similar to competitor General Mills (GIS), Kellogg stock can outperform

during an economic slowdown like in 2011.
Company is relatively recession resistant.
Potential Concerns
Name brand products could see pressure from lower-priced generic

products.
Stock could become overbought, pushing yields below the important 3%
threshold.
Bottom Line
Since Kellogg shares have been dead money for several years, we prefer shares
of competitor General Mills for its sharply better share price performance and
more generous dividend payout increases.
Additional Resources for K
Dividend.com Profile Page for K

Full Dividend Payout History for K
143
Kraft Foods Inc. (KFT)

2011 Range:
29.80 - 36.30
Market Cap:
60.776B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.27
2012 EPS Est:
Annualized Div:
1.16
Div. Yield:
0.51
9,850,980
18.71
2.53
3.38%
0.46
KFT Five-Year Stock Chart
Company Profile
Kraft Foods Inc. (KFT) manufactures and markets packaged food products world
wide. Its offerings consist of snacks, beverages, cheese and dairy products,
desserts, frozen pizza, packaged dinners, and processed meats. The company's
famous brands include Oreo, Nabisco, Trident, Maxwell House, and Oscar
Mayer. Kraft was established in 1903 and its headquartered in Northfield,
Illinois.
144

Year
Annualized Payout
Change
2010
1.16
--
2009
1.16
+3.57%
2008
1.12
+7.69%
2007
1.04
+8.33%
2006
0.96
+10.34%
2005
0.87
+12.99%
2004
0.77
+16.67%
2003
0.66
+17.86%
2002
0.56
+330.77%
2001
0.13
--
145

Below are Dividend.com's proprietary DARS Ratings for KFT as of Nov. 23,
Dividend.com DARS Ratings for KFT

Relative Strength
2.5
KFT is performing in-line with the market or better.
3.5
KFT's dividend yield is above the industry average.
4.5
KFT has been paying dividends for 10 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
KFT has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
KFT's earnings estimates are flat.
146

Dividend.com 2012 Forecast for KFT
Potential Catalysts
Company is set to split up its North American/International operations

and thus may be better positioned to combat domestic/international
currency trends.
Potential Concerns
Lots of moving parts to work out in its break-up plans.

Like all food makers, company is susceptible to food and energy
commodity price increases.
Bottom Line
Kraft isnt the most exciting dividend play, but investors could consider the stock
if yields get above 3.5% on pullbacks. It remains to be seen whether the planned
split-up of the company will provide substantial enough shareholder value or
will simply be more trouble than its worth.
Additional Resources for KFT
Dividend.com Profile Page for KFT

Full Dividend Payout History for KFT
147
Kimberly-Clark Corporation (KMB)

2011 Range:
61.00 - 71.78
Market Cap:
27.358B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
4.82
2012 EPS Est:
Annualized Div:
2.80
Div. Yield:
0.58
3,135,060
16.59
5.25
4.03%
0.53
KMB Five-Year Stock Chart
Company Profile
Kimberly Clark Corp is a personal hygiene and health care products maker.
KMB operates in four business segments: Personal Care, Consumer Tissue, K-C
Professional & Other, and Health Care. The company's brands include Kleenex,
Kotex, Huggies, Scott, Cottonelle, and Viva. Kimberly Clark was founded in 1872
and is headquartered in Dallas, Texas.
148

Year
Annualized Payout
Change
2010
2.64
+10.00%
2009
2.4
+3.45%
2008
2.32
+9.43%
2007
2.12
+8.16%
2006
1.96
+8.89%
2005
1.8
-32.58%
2004
2.67
+96.32%
2003
1.36
+13.33%
2002
1.2
+7.14%
2001
1.12
+3.70%
2000
1.08
+3.85%
1999
1.04
+4.00%
1998
+4.17%
1997
0.96
+4.35%
1996
0.92
+2.22%
1995
0.9
+2.27%
1994
0.88
+3.41%
1993
0.851
+3.78%
1992
0.82
+7.89%
1991
0.76
--
149

Below are Dividend.com's proprietary DARS Ratings for KMB as of Nov. 23,
Dividend.com DARS Ratings for KMB

Relative Strength
3.0
KMB is performing in-line with the market or better.
3.5
KMB's dividend yield is above the industry average.
4.5
KMB has been paying dividends for 76 years, and we feel its dividend yield
is extremely safe.
Dividend Uptrend
4.0
KMB has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
KMB's earnings estimates are flat.
150

Dividend.com 2012 Forecast for KMB
Potential Catalysts
Stock offers an attractive yield hovering around 4%.

Trading near all-time highs with little overhead resistance.
Is a safe haven dividend play during tough economic times.
Potential Concerns
Stock may be getting overbought and could reach fair value as it pushes
into the $70s.
Bottom Line
KMB should continue to attract conservative yield-seeking investors on any sort
of pullbacks. Since the stock is ending 2011 near all-time highs, however,
pullbacks could be few and far between.
Additional Resources for KMB
Dividend.com Profile Page for KMB

Full Dividend Payout History for KMB
151
Eli Lilly and Company (LLY)

2011 Range:
33.46 - 39.78
Market Cap:
40.409B
Avg. Volume:
8,508,220
P/E Ratio:
8.69
3.63
2011 EPS Est:
4.34
2012 EPS Est:
Annualized Div:
1.96
Div. Yield:
0.45
5.39%
0.54
LLY Five-Year Stock Chart
Company Profile
Eli Lilly & Co. (LLY) is a worldwide manufacturer of prescription drugs and
animal health products. The company's offerings include neuroscience products,
endocrinology products, oncology products, cardiovascular products, animal
health products and other pharmaceuticals. Eli Lilly was founded in 1876 and is
based in Indianapolis, Indiana.
152

Year
Annualized Payout
Change
2010
1.96
--
2009
1.96
+4.26%
2008
1.88
+10.59%
2007
1.7
+6.25%
2006
1.6
+5.26%
2005
1.52
+7.04%
2004
1.42
+5.97%
2003
1.34
+8.06%
2002
1.24
+10.71%
2001
1.12
+7.69%
2000
1.04
+13.04%
1999
0.92
+15.00%
1998
0.8
+8.11%
1997
0.74
+8.19%
1996
0.684
+4.43%
1995
0.655
+4.80%
1994
0.625
+3.31%
1993
0.605
+10.00%
1992
0.55
+10.00%
1991
0.5
--
153

Below are Dividend.com's proprietary DARS Ratings for LLY as of Nov. 23,
Dividend.com DARS Ratings for LLY

Relative Strength
3.0
LLY is performing in-line with the market or better.
3.5
LLY's dividend yield is above the industry average.
4.5
LLY has been paying dividends for 126 years, and we feel its dividend yield
is extremely safe.
Dividend Uptrend
3.0
LLY has shown consistency in its payouts, but any increases have been small.
Earnings Growth
3.0
LLY's earnings estimates are flat.
154

Dividend.com 2012 Forecast for LLY
Potential Catalysts
Stocks 5%-plus dividend yield is attractive to many investors in a yieldstarved market.
Potential Concerns
Dwindling drug pipeline has prompted analysts to reduce earnings

estimates.
Current dividend payout could eventually come under fire if the earnings
pendulum doesnt begin to swing back the other way.
Bottom Line
Due to its difficulty in growing its earnings recently, LLY has potential
dividend trap characteristics that could temper investor enthusiasm in 2012.
Also, bare in mind that the company has now gone three straight years without
raising its payout -- not a good sign during a period where competitors have
been aggressively raising their dividends.
Additional Resources for LLY
Dividend.com Profile Page for LLY

Full Dividend Payout History for LLY
155
Lockheed Martin Corporation (LMT)

2011 Range:
66.36 - 82.43
Market Cap:
23.715B
Avg. Volume:
2,656,670
P/E Ratio:
8.71
7.85
2011 EPS Est:
7.59
2012 EPS Est:
Annualized Div:
4.00
Div. Yield:
0.53
5.37%
0.51
LMT Five-Year Stock Chart
Company Profile
Lockheed Martin Corporation (LMT) is an aerospace, defense, security, and
technology company engaged in the research, design, development,
manufacture, integration and sustainment of advanced technology systems,
products and services. Lockheed was established in 1995 with the merger of
Lockheed Corporation and Martin Marietta, and is headquartered in Bethesda,
Maryland.
156

Year
Annualized Payout
Change
2010
2.64
+12.82%
2009
2.34
+27.87%
2008
1.83
+24.49%
2007
1.47
+17.60%
2006
1.25
+19.05%
2005
1.05
+15.38%
2004
0.91
+59.65%
2003
0.57
+29.55%
2002
0.44
--
2001
0.44
--
2000
0.44
-50.00%
1999
0.88
+7.32%
1998
0.82
+2.50%
1997
0.8
--
1996
0.8
+14.31%
1995
0.69985
+1.85%
1994
0.68712
+5.67%
1993
0.65028
+1.43%
1992
0.64109
+7.18%
1991
0.59817
--
157

Below are Dividend.com's proprietary DARS Ratings for LMT as of Nov. 23,
Dividend.com DARS Ratings for LMT

Relative Strength
2.5
LMT is performing in-line with the market or better.
4.0
LMT's dividend yield is above the industry average.
4.5
LMT has been paying dividends for 16 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
LMT has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
LMT's earnings estimates are flat.
158

Dividend.com 2012 Forecast for LMT
Potential Catalysts
Great 5%-plus dividend yields following big increase in late September.

Still sports a fairly cheap valuation.
Potential Concerns
Worries about lower defense spending could jeopardize earnings and

temper plans to continue to boost its dividend payout.
Bottom Line
Lockheed could be a very volatile stock in 2012, which is a major election year.
Politicians are likely to use the threat of spending cuts as leverage during
campaigns.
Additional Resources for LMT
Dividend.com Profile Page for LMT

Full Dividend Payout History for LMT
159
Lorillard Inc. (LO)

2011 Range:
72.40 - 116.90
Market Cap:
14.635B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
7.65
2012 EPS Est:
Annualized Div:
5.20
Div. Yield:
0.68
1,840,290
14.60
8.54
4.80%
0.61
LO Five-Year Stock Chart
Company Profile
Lorillard Inc. (LO) manufactures and sells cigarettes in the United States. The
vast majority of the company's sales are derived from its Newport menthol
brand, although it boasts several dozen other tobacco offerings under five brand
names. Lorillard was founded in 1760 and is based in Greensboro, North
Carolina.
160
Lorillard Inc. (LO)

Year
Annualized Payout
Change
2010
4.25
+10.68%
2009
3.84
+108.70%
2008
1.84
--
161
Lorillard Inc. (LO)

Below are Dividend.com's proprietary DARS Ratings for LO as of Nov. 23,
Dividend.com DARS Ratings for LO

Relative Strength
3.0
LO is performing in-line with the market or better.
3.5
LO's dividend yield is above the industry average.
4.5
LO has been paying dividends for 3 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
LO has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
2.5
LO's earnings estimates are flat.
162
Lorillard Inc. (LO)

Dividend.com 2012 Forecast for LO
Potential Catalysts
Potential takeover play in the tobacco sector.

Offers an over 4.5% dividend yield.
Potential Concerns
Continued litigation risk facing menthol brand cigarettes, which

represent the vast majority of the companys sales.
Bottom Line
Given the ongoing threat of menthol-focused legislation, Lorillard is a stock we
feel more comfortable with on pullbacks. LMT could be a good buy should the
yield reach the 5% level.
Additional Resources for LO
Dividend.com Profile Page for LO

Full Dividend Payout History for LO
163
Mattel, Inc. (MAT)

2011 Range:
22.01 - 28.49
Market Cap:
9.325B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.14
2012 EPS Est:
Annualized Div:
0.92
Div. Yield:
0.43
4,040,630
13.71
2.36
3.31%
0.39
MAT Five-Year Stock Chart
Company Profile
Mattel, Inc. (MAT) is the largest toy and game manufacturer in the United States.
The company makes toys under the brands Mattel, Barbie, Hot Wheels,
Matchbox, Yu-Gi-Oh, Batman, Justice League, Megaman, Fisher-Price, ViewMaster, Sesame Street, Barney, Dora the Explorer, Winnie the Pooh, Power
Wheels, American Girl, and many more. Mattel was founded in 1945 and is
headquartered in El Segundo, California.
164
Mattel, Inc. (MAT)

Year
Annualized Payout
Change
2010
0.83
+10.67%
2009
0.75
--
2008
0.75
--
2007
0.75
+15.38%
2006
0.65
+30.00%
2005
0.5
+11.11%
2004
0.45
+12.50%
2003
0.4
+700.00%
2002
0.05
-64.29%
2001
0.14
-48.15%
2000
0.27
-22.86%
1999
0.35
+2.04%
1998
0.343
+27.04%
1997
0.27
+12.50%
1996
0.24
+25.00%
1995
0.192
+25.00%
1994
0.1536
+22.45%
1993
0.12544
+33.65%
1992
0.09386
+78.54%
1991
0.05257
--
165
Mattel, Inc. (MAT)

Below are Dividend.com's proprietary DARS Ratings for MAT as of Nov. 23,
Dividend.com DARS Ratings for MAT

Relative Strength
2.5
MAT is performing in-line with the market or better.
3.5
MAT's dividend yield is above the industry average.
4.5
MAT has been paying dividends for 21 years, and we feel its dividend yield
is extremely safe.
Dividend Uptrend
3.5
MAT has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
MAT's earnings estimates are flat.
166
Mattel, Inc. (MAT)

Dividend.com 2012 Forecast for MAT
Potential Catalysts
Stock has held up well during periods of market volatility.

Could continue to be a safe haven play in 2012, should economic
uncertainties persist.
Potential Concerns
Stock could be getting close to overbought if the yield falls below the 3%
level.
Bottom Line
A great performer from a price standpoint over the past five years, Mattel is a
name wed look at mostly during pullbacks. Another big dividend raise would
be a welcome development in 2012 and help the stocks yield catch up to its price
performance.
Additional Resources for MAT
Dividend.com Profile Page for MAT

Full Dividend Payout History for MAT
167
McDonald's Corporation (MCD)

2011 Range:
72.14 - 91.22
Market Cap:
94.356B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
5.22
2012 EPS Est:
Annualized Div:
2.80
Div. Yield:
0.54
6,782,120
18.10
5.71
3.03%
0.49
MCD Five-Year Stock Chart
Company Profile
McDonald's Corporation (MCD) is the largest fast food company in the world.
The company operates and franchises its namesake McDonald's restaurants in
over 100 countries worldwide. Its restaurants offer various value-priced food
items, soft drinks, coffees, and desserts. McDonald's Corporation was founded in
1948 and is based in Oak Brook, Illinois.
168

Year
Annualized Payout
Change
2010
2.26
+10.24%
2009
2.05
+26.15%
2008
1.625
+8.33%
2007
1.5
+50.00%
2006
+49.25%
2005
0.67
+21.82%
2004
0.55
+37.50%
2003
0.4
+70.21%
2002
0.235
-7.84%
2001
0.255
+18.60%
2000
0.215
+8.59%
1999
0.198
+12.50%
1998
0.176
+9.66%
1997
0.1605
+9.56%
1996
0.1465
+10.98%
1995
0.132
+13.06%
1994
0.11675
+10.93%
1993
0.10525
+6.58%
1992
0.09875
+9.42%
1991
0.09025
--
169

Below are Dividend.com's proprietary DARS Ratings for MCD as of Nov. 23,
Dividend.com DARS Ratings for MCD

Relative Strength
3.0
MCD is performing in-line with the market or better.
2.5
MCD's dividend yield is just average.
5.0
MCD has been paying dividends for 35 years, and we feel its dividend yield
is extremely safe.
Dividend Uptrend
3.5
MCD has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
MCD's earnings estimates are flat.
170

Dividend.com 2012 Forecast for MCD
Potential Catalysts
Became a leading stock during most rallies in 2011.

Technically solid and trading near all-time high levels.
Potential Concerns
Strong dollar could hamper the companys international business.

Stock could be entering overbought territory, and looks to be fully valued
around the $90 level.
Bottom Line
Youd be hard pressed to find a dividend play that has performed as well as
McDonalds from a price standpoint over the past five years (+125% in that time).
That outperformance has dropped the stocks dividend yield below 3%,
however. Wed feel more comfortable with MCD in 2012 around the 3.5% yield
level.
Additional Resources for MCD
Dividend.com Profile Page for MCD

Full Dividend Payout History for MCD
171
Altria Group (MO)

2011 Range:
23.20 - 28.13
Market Cap:
56.156B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.04
2012 EPS Est:
Annualized Div:
1.64
Div. Yield:
0.80
14,292,700
16.34
2.19
6.01%
0.75
MO Five-Year Stock Chart

Note: MO spun its international operations off in 2008, which accounts for the stock price drop.
Company Profile
Altria Group, Inc. (MO) is a holding company that owns cigarette maker Philip
Morris USA. The company also offers cigars through its John Middleton
subsidiary and holds a portfolio of leveraged and direct finance lease
investments through its Philip Morris Capital Corporation. In addition, MO
owns an approximate 27% interest in beer brewer SABMiller plc. Altria was
founded in 1919 and is based in Richmond, Virginia.
172
Altria Group (MO)

Year
Annualized Payout
Change
2010
1.46
+10.61%
2009
1.32
-21.43%
2008
1.68
-44.92%
2007
3.05
-8.13%
2006
3.32
+8.50%
2005
3.06
+8.51%
2004
2.82
+6.82%
2003
2.64
+8.20%
2002
2.44
+48.78%
2001
1.64
-18.81%
2000
2.02
+9.78%
1999
1.84
+9.52%
1998
1.68
+5.00%
1997
1.6
+9.09%
1996
1.46666
+20.55%
1995
1.21666
+20.46%
1994
1.01
+16.54%
1993
0.86668
+10.64%
1992
0.78334
+23.04%
1991
0.63666
--
Note: MO spun its international operations off in 2008, which accounts for the dividend drop.
173
Altria Group (MO)

Below are Dividend.com's proprietary DARS Ratings for MO as of Nov. 23,
Dividend.com DARS Ratings for MO

Relative Strength
3.0
MO is performing in-line with the market or better.
4.0
MO's dividend yield is above the industry average.
5.0
MO has been paying dividends for 83 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
MO has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
MO's earnings estimates are flat.
174
Altria Group (MO)

Dividend.com 2012 Forecast for MO
Potential Catalysts
A pure safe haven play with a 6% dividend yield.
Potential Concerns
The danger of further tobacco litigation is always a risk.

Stock appears fully valued in the high $20s.
Bottom Line
If you look at a long-term chart of Altria, its clear the stock has been a Buy
during any periods of sustained pullbacks. Its also one of the few traditional
stocks that offers a 6%-plus yield for retail investors in the current market.
Additional Resources for MO
Dividend.com Profile Page for MO

Full Dividend Payout History for MO
175
Merck & Company Inc. (MRK)

2011 Range:
29.47 - 37.68
Market Cap:
103.9B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
3.75
2012 EPS Est:
Annualized Div:
1.68
Div. Yield:
0.45
17,120,800
24.96
3.83
4.92%
0.44
MRK Five-Year Stock Chart
Company Profile
Merck & Co., Inc. (MRK) is a global pharmaceuticals provider. The company
operates in four units: Pharmaceutical, Animal Health, Consumer Care and
Alliances. Its popular drug treatments include Singulair (asthma),
Cozaar/Hyzaar and Vasotec (hypertension/heart failure), Fosamax
(osteoporosis), and Zocor (cholesterol), among many others. The company was
founded in 1891 and is headquartered in Whitehouse Station, New Jersey.
176

Year
Annualized Payout
Change
2010
1.52
--
2009
1.52
--
2008
1.52
--
2007
1.52
--
2006
1.52
--
2005
1.52
+1.33%
2004
1.5
-65.41%
2003
4.336
+205.35%
2002
1.42
+2.90%
2001
1.38
+9.52%
2000
1.26
+12.50%
1999
1.12
+13.13%
1998
0.99
+13.79%
1997
0.87
+17.57%
1996
0.74
+15.63%
1995
0.64
+10.34%
1994
0.58
+9.43%
1993
0.53
+10.42%
1992
0.48
+21.00%
1991
0.39668
--
177

Below are Dividend.com's proprietary DARS Ratings for MRK as of Nov. 23,
Dividend.com DARS Ratings for MRK

Relative Strength
2.5
MRK is performing in-line with the market or better.
3.5
MRK's dividend yield is above the industry average.
4.5
MRK has been paying dividends for 76 years, and we feel its dividend yield
is extremely safe.
Dividend Uptrend
3.5
MRK has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
MRK's earnings estimates are flat.
178

Dividend.com 2012 Forecast for MRK
Potential Catalysts
Fairly inexpensive valuation heading into 2012.

Offers a solid 4.5%-plus dividend yield.
Potential Concerns
Companys waning drug pipeline could continue to make the stock dead
money.
Bottom Line
The company finally boosted its dividend payout in 2011, for the first time since
2004. Still, that 10.5% raise wasnt enough to attract too many investors to this
dead money stock. So, Merck shares should remain in a tight range in 2012
and trade similarly to competitor Eli Lilly (LLY).
Additional Resources for MRK
Dividend.com Profile Page for MRK

Full Dividend Payout History for MRK
179
M&T Bank Corporation (MTB)

2011 Range:
66.41 - 91.05
Market Cap:
8.813B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
6.85
2012 EPS Est:
Annualized Div:
2.80
Div. Yield:
0.41
1,218,320
10.14
6.93
3.99%
0.40
MTB Five-Year Stock Chart
Company Profile
M&T Bank Corporation (MTB) is a holding company that operates regional
banker M&T Bank. The company operates in six segments: Business Banking,
Commercial Banking, Commercial Real Estate, Discretionary Portfolio,
Residential Mortgage Banking, and Retail Banking. Its retail branches can be
found in New York State, Pennsylvania, Maryland, Delaware, New Jersey,
Virginia, West Virginia, and the District of Columbia, and it owns a commercial
office in Ontario, Canada. M&T was founded in 1969 and is headquartered in
Buffalo, New York.
180

Year
Annualized Payout
Change
2010
2.8
--
2009
2.8
--
2008
2.8
+7.69%
2007
2.6
+15.56%
2006
2.25
+28.57%
2005
1.75
+9.38%
2004
1.6
+33.33%
2003
1.2
+14.29%
2002
1.05
+5.00%
2001
+60.00%
2000
0.625
+38.89%
1999
0.45
+18.42%
1998
0.38
+18.75%
1997
0.32
+14.29%
1996
0.28
+12.00%
1995
0.25
+13.64%
1994
0.22
+22.22%
1993
0.18
+12.50%
1992
0.16
+357.14%
1991
0.035
--
181

Below are Dividend.com's proprietary DARS Ratings for MTB as of Nov. 23,
Dividend.com DARS Ratings for MTB

Relative Strength
3.0
MTB is performing in-line with the market or better.
3.5
MTB's dividend yield is above the industry average.
4.0
MTB has been paying dividends for 32 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
MTB has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
MTB's earnings estimates are flat.
182

Dividend.com 2012 Forecast for MTB
Potential Catalysts
Stock sports an attractive 3.5%-plus dividend yield.

Tends to be one of the better-performing regional banks during financial
sector rallies.
Potential Concerns
On the whole, financial stocks have been toxic to investors portfolios for
several years.
Bottom Line
M&T is one of the few traditional bankers that has been able to maintain its
dividend payout throughout the recent economic turmoil. If youre looking for
exposure to the financial sector, this stock could be one of your best bets in 2012.
Additional Resources for MTB
Dividend.com Profile Page for MTB

Full Dividend Payout History for MTB
183
Northrop Grumman Corporation (NOC)

2011 Range:
49.20 - 72.50
Market Cap:
14.159B
Avg. Volume:
2,474,380
P/E Ratio:
8.21
6.86
2011 EPS Est:
6.99
2012 EPS Est:
Annualized Div:
2.00
Div. Yield:
0.29
3.63%
0.29
NOC Five-Year Stock Chart
Company Profile
Northrop Grumman Corporation (NOC) is a security company that offers global
defense and technology products and services. It operates in four segments:
Aerospace Systems, Electronic Systems, Information Systems and Technical
Services. Northrop Grumman was founded in 1994 with the merger of Northrop
Aircraft and Grumman Aerospace, and is based in Los Angeles, California.
184

Year
Annualized Payout
Change
2010
1.84
+8.88%
2009
1.69
+7.64%
2008
1.57
+6.08%
2007
1.48
+27.59%
2006
1.16
+14.85%
2005
1.01
+13.48%
2004
0.89
+11.25%
2003
0.8
--
2002
0.8
--
2001
0.8
--
2000
0.8
--
1999
0.8
-20.00%
1998
+25.00%
1997
0.8
--
1996
0.8
--
1995
0.8
--
1994
0.8
--
1993
0.8
+33.33%
1992
0.6
--
1991
0.6
--
185

Below are Dividend.com's proprietary DARS Ratings for NOC as of Nov. 23,
Dividend.com DARS Ratings for NOC

Relative Strength
3.0
NOC is performing in-line with the market or better.
3.5
NOC's dividend yield is above the industry average.
4.0
NOC has been paying dividends for 60 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
NOC has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
NOC's earnings estimates are flat.
186

Dividend.com 2012 Forecast for NOC
Potential Catalysts
Stock trades at an attractive multiple (approximately 8x 2012 estimates).

Offers a dividend yield around 3.5%.
Potential Concerns
Governmental budget constraints and volatility in an election year could

make this defense company a bit of a risk.
Bottom Line
Given the uncertainty surrounding the defense sector heading into a major
election year, we prefer NOC competitor Lockheed Martin (LMT) and its 5%
dividend yield. Similar to tobacco sector stocks, youre better off looking at the
highest yield names for extra protection from any potential downside.
Additional Resources for NOC
Dividend.com Profile Page for NOC

Full Dividend Payout History for NOC
187
Northern Trust Corporation (NTRS)

2011 Range:
33.51 - 56.86
Market Cap:
8.787B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.69
2012 EPS Est:
Annualized Div:
1.12
Div. Yield:
0.42
2,560,980
14.26
3.01
3.06%
0.37
NTRS Five-Year Stock Chart
Company Profile
Northern Trust Corporation (NTRS) a financial holding company that offers
investment services to individuals and corporations worldwide. Its offerings
include asset servicing, fund administration, investment management, and
banking and fiduciary solutions. Northern Trust was founded in 1889 and its
headquartered in Chicago, Illinois.
188

Year
Annualized Payout
Change
2010
1.12
--
2009
1.12
--
2008
1.12
+8.74%
2007
1.03
+9.57%
2006
0.94
+9.30%
2005
0.86
+10.26%
2004
0.78
+11.43%
2003
0.7
+2.94%
2002
0.68
+7.09%
2001
0.635
+13.39%
2000
0.56
+35.76%
1999
0.4125
-1.79%
1998
0.42
+12.00%
1997
0.375
+16.73%
1996
0.32125
+17.89%
1995
0.2725
+18.48%
1994
0.23
+18.71%
1993
0.19375
+16.60%
1992
0.16617
+51.06%
1991
0.11
--
189

Below are Dividend.com's proprietary DARS Ratings for NTRS as of Nov. 23,
Dividend.com DARS Ratings for NTRS

Relative Strength
2.5
NTRS is performing in-line with the market or better.
3.0
NTRS's dividend yield is just average.
4.0
NTRS has been paying dividends for 115 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
NTRS has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
2.5
NTRS's earnings estimates are flat.
190

Dividend.com 2012 Forecast for NTRS
Potential Catalysts
Company could see profits rise quickly if economy bottoms.
Potential Concerns
Plenty of overhead resistance that could stem potential gains (all-time

highs are more than double the stocks current price).
Bottom Line
If youre looking for regional bank exposure in your portfolio for 2012, we prefer
shares of M&T Bank (MTB). Northern Trusts price performance has lagged
MTB, which also offers a better dividend yield.
Additional Resources for NTRS
Dividend.com Profile Page for NTRS

Full Dividend Payout History for NTRS
191
Nucor Corporation (NUE)

2011 Range:
29.82 - 49.24
Market Cap:
11.832B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.43
2012 EPS Est:
Annualized Div:
1.45
Div. Yield:
0.60
3,887,870
18.95
3.11
3.87%
0.47
NUE Five-Year Stock Chart
Company Profile
Nucor Corporation (NUE) is a maker of steel and steel products. The company
operates in three segments: Steel Mills, Steel Products, and Raw Materials. Its
product offerings include sheet steel, bar steel, steel fasteners, wire and wire
mesh, and ferrous and non-ferrous metals. Nucor was founded in 1940 and is
based in Charlotte, North Carolina.
192

Year
Annualized Payout
Change
2010
1.443
+2.34%
2009
1.41
-26.18%
2008
1.91
-21.72%
2007
2.44
+28.42%
2006
1.9
+475.76%
2005
0.33
+40.43%
2004
0.235
+17.50%
2003
0.2
+5.26%
2002
0.19
+11.76%
2001
0.17
+13.33%
2000
0.15
+15.38%
1999
0.13
+8.33%
1998
0.12
+20.00%
1997
0.1
+25.00%
1996
0.08
+14.29%
1995
0.07
+55.56%
1994
0.045
+12.50%
1993
0.04
+14.29%
1992
0.035
+7.63%
1991
0.03252
--
193

Below are Dividend.com's proprietary DARS Ratings for NUE as of Nov. 23,
Dividend.com DARS Ratings for NUE

Relative Strength
2.5
NUE is performing in-line with the market or better.
3.5
NUE's dividend yield is above the industry average.
4.0
NUE has been paying dividends for 38 years, and we its dividend yield is
safe.
Dividend Uptrend
3.0
NUE has shown consistency in its payouts, but any increases have been
small.
Earnings Growth
2.5
NUE's earnings estimates are flat.
194

Dividend.com 2012 Forecast for NUE
Potential Catalysts
Leading steel company with an attractive dividend yield near 4% -- a true

rarity in its industry.
Potential Concerns
Growing danger of a China slowdown is hurting all commodity names.

Substantial dividend payout may not be secure if the economy decelerates
further.
Bottom Line
Nucor shares tend to have vicious moves (think up or down nearly 10% or more
in a single day), and is not your typical income play. Yield-oriented investors
who are averse to volatility may be wise to avoid this name.
Additional Resources for NUE
Dividend.com Profile Page for NUE

Full Dividend Payout History for NUE
195
Novartis AG (NVS)
2011 Range:
52.09 - 64.82
Market Cap:
129.7B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
5.54
2012 EPS Est:
Annualized Div:
2.35
Div. Yield:
0.42
2,529,630
12.66
5.71
4.37%
0.41
NVS Five-Year Stock Chart
Company Profile
Novartis AG (NVS) is a healthcare solutions provider that offers medicines,
preventive vaccines and diagnostic tools, generic pharmaceuticals, and consumer
health products around the globe. It operates in four segments: pharmaceuticals,
vaccines and diagnostics, sandoz, and consumer health. Novartis was founded in
1895 and is headquartered in Basel, Switzerland.
196
Novartis AG (NVS)
Year
Annualized Payout
Change
2010
1.987
+15.52%
2009
1.72
+16.85%
2008
1.472
+36.17%
2007
1.081
+20.92%
2006
0.894
+10.92%
2004
0.806
+15.14%
2003
0.7
+34.10%
2002
0.522
+3.98%
2001
0.502
-53.43%
2000
1.078
--
197
Novartis AG (NVS)
Below are Dividend.com's proprietary DARS Ratings for NVS as of Nov. 23,
Dividend.com DARS Ratings for NVS

Relative Strength
2.5
NVS is performing in-line with the market or better.
3.5
NVS's dividend yield is above the industry average.
4.5
NVS has been paying dividends for 19 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
NVS has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
NVS's earnings estimates are flat.
198
Novartis AG (NVS)
Dividend.com 2012 Forecast for NVS
Potential Catalysts
Company has one of the better pharma pipelines around.

Offers an attractive 4%-plus dividend yield. Stock trading fairly close to its
all-time highs.
Potential Concerns
Shares could move sideways if economy begins to accelerate.
Bottom Line
Novartis is one of the few attractive pharmaceutical plays worth considering in
2012. Its dividend yield and drug pipeline offer the potential combination of
growth (capital gains) and income (dividends) that we like to see.
Additional Resources for NVS
Dividend.com Profile Page for NVS

Full Dividend Payout History for NVS
199
Pepsico Inc. (PEP)

2011 Range:
59.25 - 71.89
Market Cap:
98.878B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
4.41
2012 EPS Est:
Annualized Div:
2.06
Div. Yield:
0.47
9,670,270
15.83
4.64
3.26%
0.44
PEP Five-Year Stock Chart
Company Profile
PepsiCo, Inc. (PEP) is a beverage maker and bottler, and a producer of snack
foods. Its famous beverage brands include its namesake Pepsi-Cola, Mountain
Dew, Tropicana, Gatorade and Diet Pepsi. Its snack foods units makes products
under the Doritos, Ruffles, Lays, and Fritos brands. PepsiCo was founded in 1898
and is headquartered in Purchase, New York.
200
Pepsico Inc. (PEP)

Year
Annualized Payout
Change
2010
1.89
+6.48%
2009
1.775
-43.65%
2008
3.15
+121.05%
2007
1.425
+22.84%
2006
1.16
+14.85%
2005
1.01
+18.82%
2004
0.85
+34.92%
2003
0.63
+5.88%
2002
0.595
+3.48%
2001
0.575
+3.60%
2000
0.555
+3.74%
1999
0.535
+3.88%
1998
0.515
-86.04%
1997
3.69
+729.21%
1996
0.445
+14.10%
1995
0.39
+11.43%
1994
0.35
+14.75%
1993
0.305
+19.61%
1992
0.255
+10.87%
1991
0.23
--
201
Pepsico Inc. (PEP)

Below are Dividend.com's proprietary DARS Ratings for PEP as of Nov. 23,
Dividend.com DARS Ratings for PEP

Relative Strength
3.0
PEP is performing in-line with the market or better.
3.0
PEP's dividend yield is just average.
5.0
PEP has been paying dividends for 59 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
PEP has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
2.5
PEP's earnings estimates are flat.
202
Pepsico Inc. (PEP)

Dividend.com 2012 Forecast for PEP
Potential Catalysts
Calls to break up this beverage and snack food giant could convince the
company to consider a sum of the parts split-up.
Potential Concerns
Recent earnings have failed to wow investors and could lead to lowerthan-expected dividend payout increases.
Bottom Line
If the stock pulls back enough to provide a 3.5%-plus yield, wed consider taking
a bite. Until then, investors might be better off consuming Pepsis products
rather than investing in the company.
Additional Resources for PEP
Dividend.com Profile Page for PEP

Full Dividend Payout History for PEP
203
Pfizer Inc. (PFE)

2011 Range:
16.25 - 21.45
Market Cap:
146.0B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.28
2012 EPS Est:
Annualized Div:
0.80
Div. Yield:
0.35
47,178,100
13.17
2.31
4.22%
0.35
PFE Five-Year Stock Chart
Company Profile
Pfizer Inc. (PFE) is a global pharmaceuticals maker. The company operates in
two segments: Biopharmaceutical, which makes drug treatments for various
diseases and disorders, and Diversified, which makes consumer and animal
health products. Its famous drugs and products include Viagra, Celebrex, Advil,
Neosporin, ChapStick, and many more. Pfizer was founded in 1849 and is
headquartered in New York, New York.
204
Pfizer Inc. (PFE)

Year
Annualized Payout
Change
2010
0.72
-10.00%
2009
0.8
-37.50%
2008
1.28
+10.34%
2007
1.16
+20.83%
2006
0.96
+26.32%
2005
0.76
+11.76%
2004
0.68
+13.33%
2003
0.6
+15.38%
2002
0.52
+18.18%
2001
0.44
+22.22%
2000
0.36
+17.39%
1999
0.30666
+21.06%
1998
0.25332
+11.75%
1997
0.22668
+13.34%
1996
0.2
+15.39%
1995
0.17332
+10.62%
1994
0.15668
+11.91%
1993
0.14
+13.53%
1992
0.12332
+12.11%
1991
0.11
--
205
Pfizer Inc. (PFE)

Below are Dividend.com's proprietary DARS Ratings for PFE as of Nov. 23,
Dividend.com DARS Ratings for PFE

Relative Strength
3.0
PFE is performing in-line with the market or better.
3.5
PFE's dividend yield is above the industry average.
4.0
PFE has been paying dividends for 110 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
PFE has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
PFE's earnings estimates are flat.
206
Pfizer Inc. (PFE)

Dividend.com 2012 Forecast for PFE
Potential Catalysts
Offers a more than 4% yield.

Stock could hold up well if the economy struggles in 2012.
Potential Concerns
Declining drug pipeline could force the company to use its cash hoard to
fund acquisitions, at the expense of dividend payout increases.
Bottom Line
Pfizers earnings estimates could be trimmed moving forward due to its weak
pipeline. This stock could very well be dead money in 2012 as a result.
Additional Resources for PFE
Dividend.com Profile Page for PFE

Full Dividend Payout History for PFE
207
The Procter & Gamble Company (PG)

2011 Range:
57.56 - 67.72
Market Cap:
170.3B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
4.19
2012 EPS Est:
Annualized Div:
2.10
Div. Yield:
0.50
10,106,300
15.66
4.57
3.41%
0.46
PG Five-Year Stock Chart
Company Profile
The Procter & Gamble Company (PG) is a global consumer products maker. The
company operates in three segments: Beauty and Grooming, Health and WellBeing, and Household Care. Its famous products include Bounce, Cascade,
Downy, Ivory, Mr. Clean, Solo, Spic and Span, Tide, Charmin, Puffs, Pampers,
Old Spice, Crest, Head & Shoulders, Oil of Olay, Noxzema, Pepto-Bismol, Vicks,
and many more. P&G was founded in 1837 and is headquartered in Cincinnati,
Ohio.
208

Year
Annualized Payout
Change
2010
1.886
+9.65%
2009
1.72
+10.97%
2008
1.55
+13.97%
2007
1.36
+12.40%
2006
1.21
+11.01%
2005
1.09
+11.51%
2004
0.9775
+13.01%
2003
0.865
-23.79%
2002
1.135
+55.48%
2001
0.73
+8.96%
2000
0.67
+10.74%
1999
0.605
+12.66%
1998
0.537
+12.52%
1997
0.47725
+12.29%
1996
0.425
+13.33%
1995
0.375
+13.64%
1994
0.33
+12.82%
1993
0.2925
+8.84%
1992
0.26875
+7.50%
1991
0.25
--
209

Below are Dividend.com's proprietary DARS Ratings for PG as of Nov. 23,
Dividend.com DARS Ratings for PG

Relative Strength
3.0
PG is performing in-line with the market or better.
3.0
PG's dividend yield is just average.
5.0
PG has been paying dividends for 120 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
PG has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
2.5
PG's earnings estimates are flat.
210

Dividend.com 2012 Forecast for PG
Potential Catalysts
Safe-haven consumer play will continue to attract investor interest as

dividend yield holds above 3%.
Potential Concerns
Company ran into some earnings weakness in 2011.
Bottom Line
This fairly-valued consumer name becomes more attractive if the yield
approaches 3.50% or greater. Under that threshold, however, and you may be
better off looking elsewhere.
Additional Resources for PG
Dividend.com Profile Page for PG

Full Dividend Payout History for PG
211
Philip Morris International (PM)

2011 Range:
55.10 - 72.74
Market Cap:
125.4B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
4.85
2012 EPS Est:
Annualized Div:
3.08
Div. Yield:
0.64
8,461,580
15.27
5.23
4.28%
0.59
PM Five-Year Stock Chart
Company Profile
Philip Morris International Inc. (PM) is a holding company that sells cigarettes
and tobacco products outside of the United States. It sells its Marlboro, Merit,
Parliament, Virginia Slims, L&M, Chesterfield, Bond Street, Lark, Muratti, Next,
Philip Morris and Red & White and other brands in nearly 180 countries
worldwide. PM was spun off from Altria Group (which retained its U.S.
operations) in 2008 and is based in New York, New York.
212

Year
Annualized Payout
Change
2010
2.44
+8.93%
2009
2.24
+45.45%
2008
1.54
--
213

Below are Dividend.com's proprietary DARS Ratings for PM as of Nov. 23,
Dividend.com DARS Ratings for PM

Relative Strength
3.0
PM is performing in-line with the market or better.
4.0
PM's dividend yield is above the industry average.
5.0
PM has been paying dividends for 3 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
PM has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
PM's earnings estimates are flat.
214

Dividend.com 2012 Forecast for PM
Potential Catalysts
Strong earnings and dividend growth makes the stock attractive for
dividend investors.
Potential Concerns
Global economic weakness could spur demand for even higher tobacco
taxes.
Bottom Line
PM has been a great performer ever since it was split from Altria Group (MO), its
U.S. counterpart, in 2008. This stock becomes extremely attractive when its yield
rises to the 4.5% to 5% range. In all likelihood, 2012 will be another great year for
the company.
Additional Resources for PM
Dividend.com Profile Page for PM

Full Dividend Payout History for PM
215
Public Storage Inc. (PSA)

2011 Range:
94.60 - 124.81
Market Cap:
21.187B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
5.79
2012 EPS Est:
Annualized Div:
3.80
Div. Yield:
0.66
1,072,450
40.52
6.27
3.08%
0.61
PSA Five-Year Stock Chart
Company Profile
Public Storage (PSA) is a real estate investment trust (REIT) that owns and
operates self-storage facilities in the United States and Europe. The company
operates in three segments: Domestic Self-Storage segment, Europe Self-Storage
segment, and Commercial. Public Storage was founded in 1972 and is based in
Glendale, California.
216

Year
Annualized Payout
Change
2010
2.703
+22.86%
2009
2.2
-21.43%
2008
2.8
+40.00%
2007
--
2006
+5.26%
2005
1.9
+5.56%
2004
1.8
--
2003
1.8
--
2002
1.8
+102.25%
2001
0.89
-39.86%
2000
1.48
-1.33%
1999
1.5
+70.45%
1998
0.88
--
1997
0.88
--
1996
0.88
-20.72%
1995
1.11
+30.59%
1994
0.85
+1.19%
1993
0.84
--
1992
0.84
+2.44%
1991
0.82
--
217

Below are Dividend.com's proprietary DARS Ratings for PSA as of Nov. 23,
Dividend.com DARS Ratings for PSA

Relative Strength
3.0
PSA is performing in-line with the market or better.
3.0
PSA's dividend yield is just average.
4.5
PSA has been paying dividends for 30 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
PSA has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
PSA's earnings estimates are flat.
218

Dividend.com 2012 Forecast for PSA
Potential Catalysts
Company is the unquestioned leader in the self-storage REIT space.
Potential Concerns
Stock has become a target of momentum-like traders chasing yield.
Bottom Line
Theres nothing wrong with owning Public Storage shares. The companys
fundamentals are solid and its dividend raises have been ample in the past few
years. Still, we prefer investors only consider the stock during decent-sized
pullbacks that can put its yield back over 3.5%.
Additional Resources for PSA
Dividend.com Profile Page for PSA

Full Dividend Payout History for PSA
219
Reynolds American Inc (RAI)

2011 Range:
29.05 - 40.80
Market Cap:
23.602B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.78
2012 EPS Est:
Annualized Div:
2.24
Div. Yield:
0.81
3,422,110
17.86
2.96
5.52%
0.76
RAI Five-Year Stock Chart
Company Profile
Reynolds American, Inc. (RAI) is a holding company that operates tobacco
companies in the United States. Its two business segments are RJR Tobacco
(cigarettes) and American Snuff (smokeless tobacco). Its famous brands include
Camel, Kool, Doral, Winston, Salem, Natural American Spirit, and Kodiak.
Formerly known as R.J. Reynolds, RAI was founded in 1875 and is
headquartered in Winston-Salem, North Carolina.
220

Year
Annualized Payout
Change
2010
1.84
+6.67%
2009
1.725
+1.47%
2008
1.7
+6.25%
2007
1.6
+16.36%
2006
1.375
+0.92%
2005
1.3625
+29.76%
2004
1.05
--
2003
1.05
+4.35%
2002
1.00625
+15.00%
2001
0.875
+12.90%
2000
0.775
+100.00%
1999
0.3875
--
221

Below are Dividend.com's proprietary DARS Ratings for RAI as of Nov. 23,
Dividend.com DARS Ratings for RAI

Relative Strength
3.0
RAI is performing in-line with the market or better.
3.5
RAI's dividend yield is above the industry average.
5.0
RAI has been paying dividends for 7 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
RAI has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
RAI's earnings estimates are flat.
222

Dividend.com 2012 Forecast for RAI
Potential Catalysts
A solid tobacco name with an over 5% dividend yield.

Stock is trading near all-time highs, so has littler overhead resistance.
Potential Concerns
Fears of tighter governmental regulation or higher taxes on tobacco

products will likely persist in 2012.
Bottom Line
Reynolds American is a solid name to buy on pullbacks, but we wouldnt chase
the stock higher in 2012. Be patient and wait for good entry points in the upper5% to low-6% range.
Additional Resources for RAI
Dividend.com Profile Page for RAI

Full Dividend Payout History for RAI
223
Republic Services Inc. (RSG)

2011 Range:
24.72 - 33.10
Market Cap:
9.670B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
1.88
2012 EPS Est:
Annualized Div:
0.88
Div. Yield:
0.47
3,050,850
18.16
2.06
3.37%
0.43
RSG Five-Year Stock Chart
Company Profile
Republic Services, Inc. (RSG) is a provider non-hazardous solid waste services in
the United States. It offers waste collection services to commercial, industrial,
municipal and residential customers through via 348 collection companies in 40
states and Puerto Rico. Founded in 1998, Republic is headquartered in Phoenix,
Arizona.
224

Year
Annualized Payout
Change
2010
0.78
+2.63%
2009
0.76
+5.56%
2008
0.72
+39.00%
2007
0.518
+29.50%
2006
0.4
+15.39%
2005
0.34666
+44.44%
2004
0.24
+200.00%
2003
0.08
--
225

Below are Dividend.com's proprietary DARS Ratings for RSG as of Nov. 23,
Dividend.com DARS Ratings for RSG

Relative Strength
2.5
RSG is performing in-line with the market or better.
3.5
RSG's dividend yield is above the industry average.
4.0
RSG has been paying dividends for 8 years, and we its dividend yield is safe.
Dividend Uptrend
3.5
RSG has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
RSG's earnings estimates are flat.
226

Dividend.com 2012 Forecast for RSG
Potential Catalysts
Solid name in the normally recession-resistant waste management

business.
Offers a yield over 3%.
Potential Concerns
Stock appears fully valued at current levels.
Bottom Line
Republic Services is a decent defensive name to look at during pullbacks. Its
price performance has been uninspiring, however, trailing the index averages in
2011 (and for the past five years, for that matter). Wed only consider this stock
during periods where its yield reaches over 3.5%.
Additional Resources for RSG
Dividend.com Profile Page for RSG

Full Dividend Payout History for RSG
227
Raytheon Company (RTN)

2011 Range:
38.35 - 53.12
Market Cap:
14.934B
Avg. Volume:
2,806,890
P/E Ratio:
8.87
5.23
2011 EPS Est:
5.04
2012 EPS Est:
Annualized Div:
1.72
Div. Yield:
0.34
3.97%
0.33
RTN Five-Year Stock Chart
Company Profile
Raytheon Company (RTN) is a defense contractor. The company operates in six
segments: Integrated Defense Systems (IDS), Intelligence and Information
Systems (IIS), Missile Systems (MS), Network Centric Systems (NCS), Space and
Airborne Systems (SAS), and Technical Services (TS). Raytheon was founded in
1922, changed its name to its current form in 1959, and is headquartered in
Waltham, Massachusetts.
228

Year
Annualized Payout
Change
2010
1.125
-9.27%
2009
1.24
+10.71%
2008
1.12
+9.80%
2007
1.02
+6.25%
2006
0.96
+9.09%
2005
0.88
+10.00%
2004
0.8
--
2003
0.8
--
2002
0.8
--
2001
0.8
--
2000
0.8
--
1999
0.8
--
1998
0.8
-20.00%
1997
+26.90%
1996
0.788
+4.79%
1995
0.752
+3.58%
1994
0.726
+38.29%
1993
0.525
-20.93%
1992
0.664
+8.32%
1991
0.613
--
229

Below are Dividend.com's proprietary DARS Ratings for RTN as of Nov. 23,
Dividend.com DARS Ratings for RTN

Relative Strength
2.5
RTN is performing in-line with the market or better.
3.5
RTN's dividend yield is above the industry average.
4.0
RTN has been paying dividends for 47 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
RTN has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
2.5
RTN's earnings estimates are flat.
230

Dividend.com 2012 Forecast for RTN
Potential Catalysts
A well-known defense name that yields around 4%.
Potential Concerns
Defense sector could face budget cuts in the 2012 election year, making
this company especially vulnerable.
Bottom Line
Our best choice in the defense sector in 2012 remains Lockheed Martin (LMT)
due to its 5%-plus yield. Should Raytheon boost its own payout up to that lofty
level, wed certainly take another look at it.
Additional Resources for RTN
Dividend.com Profile Page for RTN

Full Dividend Payout History for RTN
231
The Southern Company (SO)

2011 Range:
35.73 - 43.97
Market Cap:
36.793B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.56
2012 EPS Est:
Annualized Div:
1.89
Div. Yield:
0.74
6,054,040
17.56
2.70
4.39%
0.7
SO Five-Year Stock Chart
Company Profile
The Southern Company (SO) is an electric utility operator in the United States.
The company provides power to customers in the southeastern U.S., and owns
the Alabama Power Company, Georgia Power Company, Gulf Power Company,
Mississippi Power Company, and Southern Power Company. It also acquires,
owns, and operates power generation facilities and engages in the sale of
electricity on the wholesale market. Southern Company was founded in 1945 and
is based in Atlanta, Georgia.
232

Year
Annualized Payout
Change
2010
1.803
+3.98%
2009
1.734
+4.27%
2008
1.663
+4.13%
2007
1.597
+3.90%
2006
1.537
+4.06%
2005
1.477
+4.31%
2004
1.416
+2.24%
2003
1.385
+2.14%
2002
1.356
+1.19%
2001
1.34
--
2000
1.34
--
1999
1.34
--
1998
1.34
+3.08%
1997
1.3
+3.17%
1996
1.26
+3.28%
1995
1.22
+3.39%
1994
1.18
+3.51%
1993
1.14
+3.64%
1992
1.1
+2.80%
1991
1.07
--
233

Below are Dividend.com's proprietary DARS Ratings for SO as of Nov. 23,
Dividend.com DARS Ratings for SO

Relative Strength
2.5
SO is performing in-line with the market or better.
4.0
SO's dividend yield is above the industry average.
4.5
SO has been paying dividends for 63 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.0
SO has shown consistency in its payouts, but any increases have been small.
Earnings Growth
3.0
SO's earnings estimates are flat.
234

Dividend.com 2012 Forecast for SO
Potential Catalysts
One of the best-performing utility plays over the past year.

Stock sports a near 4.5% dividend yield.
Potential Concerns
Certainly no secret as far as dividend investors are concerned, so the stock

could get overbought, bringing its yield down to less attractive levels over
time.
Bottom Line
We still like Southern Company for 2012 and would look to accumulate shares
during pullbacks. Just dont chase the stock up, as the company only boosted its
quarterly payout by a penny in 2011.
Additional Resources for SO
Dividend.com Profile Page for SO

Full Dividend Payout History for SO
235
AT&T Inc. (T)

2011 Range:
27.20 - 31.94
Market Cap:
167.5B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.32
2012 EPS Est:
Annualized Div:
1.72
Div. Yield:
0.74
30,538,700
14.39
2.49
6.06%
0.69
T Five-Year Stock Chart
Company Profile
AT&T Inc. (T) is a telecommunications company that provides wireless and
wired telecom services, broadband and dial-up Internet access, video services,
and directory advertising and publishing. Following the antitrust breakup of the
so-called "Ma Bell" (the original AT&T Corp), AT&T was incorporated in 1983. It
later changed its name to SBC Communications in 1995, then back to AT&T in
2005. The company is based in San Antonio, Texas.
236
AT&T Inc. (T)

Year
Annualized Payout
Change
2010
1.68
+2.44%
2009
1.64
+2.50%
2008
1.6
+12.68%
2007
1.42
+6.61%
2006
1.332
+3.10%
2005
1.292
+3.19%
2004
1.252
-8.55%
2003
1.369
+28.42%
2002
1.066
+4.41%
2001
1.021
+1.49%
2000
1.006
+4.68%
1999
0.961
+4.46%
1998
0.92
+3.72%
1997
0.887
+4.23%
1996
0.851
+4.35%
1995
0.8155
+4.42%
1994
0.781
+4.38%
1993
0.74825
+3.21%
1992
0.725
+2.84%
1991
0.705
--
237
AT&T Inc. (T)

Below are Dividend.com's proprietary DARS Ratings for T as of Nov. 23, 2011.
Dividend.com DARS Ratings for T

Relative Strength
2.5
T is performing in-line with the market or better.
4.0
T's dividend yield is above the industry average.
4.5
T has been paying dividends for 130 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
4.0
T has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
T's earnings estimates are flat.
238
AT&T Inc. (T)

Dividend.com 2012 Forecast for T
Potential Catalysts
Phenomenal dividend yield of nearly 6% helps attract solid investor base.
Potential Concerns
Company has seen slowing growth in recent years.

Continued technological advancement could put a dent in its core
businesses.
Bottom Line
AT&T is nothing more than a a yield play at this point, as share price
appreciation appears stagnant. Still, the stocks great yield cant be ignored, and
its still a good option for income-seeking investors.
Additional Resources for T
Dividend.com Profile Page for T

Full Dividend Payout History for T
239
Toronto-Dominion Bank (TD)

2011 Range:
64.56 - 89.79
Market Cap:
60.154B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
6.65
2012 EPS Est:
Annualized Div:
2.72
Div. Yield:
0.41
849,489
12.04
7.23
4.01%
0.38
TD Five-Year Stock Chart
Company Profile
Toronto-Dominion Bank (TD) is a Canadian banking company. TD Bank Group,
as its collective subsidiaries are known, operates in four segments: Canadian
Personal and Commercial Banking, Wealth Management, U.S. Personal and
Commercial Banking, and Wholesale Banking. TD was created in 1955 with the
merger of Bank of Toronto and the Dominion Bank and is headquartered in
Toronto, Ontario, Canada.
240

Year
Annualized Payout
Change
2010
2.354
-10.39%
2009
2.627
+11.93%
2008
2.347
+21.17%
2007
1.937
+60.75%
2006
1.205
-19.83%
2005
1.503
+7.36%
2004
1.4
+16.67%
2003
1.2
+7.14%
2002
1.12
--
2001
1.12
+16.67%
2000
0.96
+26.32%
1999
0.76
+13.43%
1998
0.67
+15.52%
1997
0.58
+118.87%
1996
0.265
--
241

Below are Dividend.com's proprietary DARS Ratings for TD as of Nov. 23,
Dividend.com DARS Ratings for TD

Relative Strength
2.5
TD is performing in-line with the market or better.
3.5
TD's dividend yield is above the industry average.
4.5
TD has been paying dividends for 154 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.5
TD has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
TD's earnings estimates are flat.
242

Dividend.com 2012 Forecast for TD
Potential Catalysts
Solid growth/dividend play with a 3.5%-plus yield.

Attractive Canadian bank with plenty of U.S. exposure as well.
Potential Concerns
Shares could be dragged down by further bank worries.
Bottom Line
In general, were still not big fans of the financial space. Fears of a continued
domestic and European slowdown hurt banking stocks once again in 2011. Still,
TD is a well-run company we like name we like on pullbacks in 2012.
Additional Resources for TD
Dividend.com Profile Page for TD

Full Dividend Payout History for TD
243
Travelers (TRV)
2011 Range:
46.62 - 64.17
Market Cap:
22.484B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
3.33
2012 EPS Est:
Annualized Div:
1.64
Div. Yield:
0.49
4,843,480
14.01
5.79
2.99%
0.28
TRV Five-Year Stock Chart
Company Profile
The Travelers Companies, Inc. (TRV) is a holding company that, through its
subsidiaries, offers a range of insurance products to consumers and businesses.
Its three operating units are Business Insurance, Financial, Professional and
International Insurance, and Personal Insurance. Following a disastrous merger
between the Travelers Group and Citicorp to form Citigroup in 1998, Travelers
was spun back off in 2002. The company is headquartered in Hartford,
Connecticut.
244
Travelers (TRV)
Year
Annualized Payout
Change
2010
1.41
+14.63%
2009
1.23
+3.36%
2008
1.19
+5.31%
2007
1.13
+11.88%
2006
1.01
+46.38%
2005
0.69
-40.52%
2004
1.16
--
2003
1.16
--
2002
1.16
+3.57%
2001
1.12
+3.70%
2000
1.08
+3.85%
1999
1.04
+4.00%
1998
+6.38%
1997
0.94
+6.82%
1996
0.88
+10.00%
1995
0.8
+6.67%
1994
0.75
+7.14%
1993
0.7
+2.94%
1992
0.68
+4.62%
1991
0.65
--
245
Travelers (TRV)
Below are Dividend.com's proprietary DARS Ratings for TRV as of Nov. 23,
Dividend.com DARS Ratings for TRV

Relative Strength
2.5
TRV is performing in-line with the market or better.
3.5
TRV's dividend yield is above the industry average.
4.0
TRV has been paying dividends for 21 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
TRV has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
TRV's earnings estimates are flat.
246
Travelers (TRV)
Dividend.com 2012 Forecast for TRV
Potential Catalysts
Stock is one of the better-performing insurance providers in a beaten-up

sector.
Potential Concerns
Despite its strengths, TRV can be pulled down by the lackluster overall
performance in the financials and insurers.
Bottom Line
We expect the stock to remain in a tight trading range in 2012. If you can add
some shares in the 3%-plus yield range, Travelers is worth considering if youre
looking for exposure to the insurance space.
Additional Resources for TRV
Dividend.com Profile Page for TRV

Full Dividend Payout History for TRV
247
United Parcel Service Inc. (UPS)

2011 Range:
60.74 - 77.00
Market Cap:
65.831B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
4.25
2012 EPS Est:
Annualized Div:
2.08
Div. Yield:
0.49
5,352,280
16.55
4.82
3.05%
0.43
UPS Five-Year Stock Chart
Company Profile
United Parcel Service, Inc. (UPS) is the largest package delivery company in the
world. UPS operates in three business segments: U.S. Domestic Package
operations, International Package operations, and Supply Chain & Freight
operations. Its services are offered to consumers and businesses in nearly 220
countries worldwide. The company was founded in 1907 and is headquartered in
Atlanta, Georgia.
248

Year
Annualized Payout
Change
2010
1.88
+4.44%
2009
1.8
--
2008
1.8
+7.14%
2007
1.68
+10.53%
2006
1.52
+15.15%
2005
1.32
+17.86%
2004
1.12
+21.74%
2003
0.92
+21.05%
2002
0.76
--
2001
0.76
+11.76%
2000
0.68
+126.67%
1999
0.3
--
249

Below are Dividend.com's proprietary DARS Ratings for UPS as of Nov. 23,
Dividend.com DARS Ratings for UPS

Relative Strength
3.0
UPS is performing in-line with the market or better.
3.5
UPS's dividend yield is above the industry average.
4.0
UPS has been paying dividends for 12 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
UPS has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
UPS's earnings estimates are flat.
250

Dividend.com 2012 Forecast for UPS
Potential Catalysts
Company is solidly tied to any potential economic rebound.

Is one of the better-yielding transport plays at more than 3%.
Potential Concerns
There are plenty of factors to worry about with transport stocks, from
rising fuel prices to a prolonged economic slowdown.
Bottom Line
UPS tends to be overshadowed by competitor FedExs (FDX) shares, which
usually move first to the upside or downside (perhaps because FedEx has a
pitiful dividend yield). If youre looking for some exposure to the transports
sector, UPS is one of your best options in 2012.
Additional Resources for UPS
Dividend.com Profile Page for UPS

Full Dividend Payout History for UPS
251
Vornado Realty Trust (VNO)

2011 Range:
68.39 - 98.77
Market Cap:
13.507B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
6.00
2012 EPS Est:
Annualized Div:
2.76
Div. Yield:
0.46
1,772,020
17.55
5.45
3.77%
0.51
VNO Five-Year Stock Chart
Company Profile
Vornado Realty Trust (VNO) is a real estate investment trust (REIT) with
interests in metropolitan office spaces and retail spaces in the United States. The
company operates in five units: New York Office Properties, Washington, D.C.
Office Properties, Retail Properties, Merchandise Mart Properties, and Toys R Us
(Toys). Established in 1982 using real estate inherited by now-defunct retailer
Two Guys, Vornado is based in New York, New York.
252

Year
Annualized Payout
Change
2010
2.6
-2.00%
2009
2.653
-27.32%
2008
3.65
+5.80%
2007
3.45
-8.97%
2006
3.79
-1.56%
2005
3.85
+26.23%
2004
3.05
+4.81%
2003
2.91
+9.40%
2002
2.66
+1.18%
2001
2.629
+33.45%
2000
1.97
+9.44%
1999
1.8
+9.76%
1998
1.64
-2.38%
1997
1.68
+37.70%
1996
1.22
+45.24%
1995
0.84
-16.00%
1994
+10.89%
1993
0.90183
+57.30%
1992
0.57333
+6.17%
1991
0.54002
--
253

Below are Dividend.com's proprietary DARS Ratings for VNO as of Nov. 23,
Dividend.com DARS Ratings for VNO

Relative Strength
2.5
VNO is performing in-line with the market or better.
3.5
VNO's dividend yield is above the industry average.
4.0
VNO has been paying dividends for 18 years, and we its dividend yield is
safe.
Dividend Uptrend
3.5
VNO has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
VNO's earnings estimates are flat.
254

Dividend.com 2012 Forecast for VNO
Potential Catalysts
Leading office REIT play with exposure to key metro markets (D.C. and
New York).
Offers a decent dividend yield above 3.5%.
Potential Concerns
Commercial real estate market is susceptible to further economic

downturns.
Bottom Line
Vornados dividend payouts can fluctuate wildly at times, but the company
seems to have found a comfort zone at its current level. As is the case with most
REITs we cover, wed prefer to see this stocks yield reach at least 4% before
considering investing in the name.
Additional Resources for VNO
Dividend.com Profile Page for VNO

Full Dividend Payout History for VNO
255
Vodafone Group Plc (VOD)

2011 Range:
24.31 - 29.75
Market Cap:
135.6B
2011 EPS Est:

Annualized Div:
2.63
1.452924
0.55
Avg. Volume:
P/E Ratio:
2012 EPS Est:
Div. Yield:
9,306,740
12.31
2.82
5.30%
0.52
VOD Five-Year Stock Chart
Company Profile
Vodafone Group Plc (VOD) is a global wireless telecommunications company.
Vodafone provides voice and data communications services for consumer and
enterprise customers in Europe, the Middle East, Africa, the Asia Pacific, and the
United States. VOD operates wireless services under its namesake brand and
also owns a stake in U.S.-based Verizon Wireless. The company was established
in 1984 and is headquartered in Newbury, Berkshire, England.
256

Year
Annualized Payout
Change
2010
1.276
+3.15%
2009
1.237
-10.10%
2008
1.376
-0.79%
2007
1.387
+210.99%
2006
0.446
-42.60%
2005
0.777
+44.16%
2004
0.539
+74.43%
2003
0.309
+17.94%
2002
0.262
+20.18%
2001
0.218
-1.80%
2000
0.222
-34.55%
1999
0.3392
+38.56%
1998
0.2448
+14.39%
1997
0.214
+62.12%
1996
0.132
-8.21%
1995
0.1438
+33.15%
1994
0.108
-2.93%
1993
0.11126
+19.81%
1992
0.09286
-32.06%
1991
0.13667
--
257

Below are Dividend.com's proprietary DARS Ratings for VOD as of Nov. 23,
Dividend.com DARS Ratings for VOD

Relative Strength
3.0
VOD is performing in-line with the market or better.
3.5
VOD's dividend yield is above the industry average.
4.0
VOD has been paying dividends for 5 years, and we its dividend yield is safe.
Dividend Uptrend
3.5
VOD has shown steady and generous dividends, and has increased its
payouts each year.
Earnings Growth
3.0
VOD's earnings estimates are flat.
258

Dividend.com 2012 Forecast for VOD
Potential Catalysts
Leading international telecom play with a 5%-plus yield.
Potential Concerns
Foreign stocks are often inconsistent with dividend payouts.
Bottom Line
The potential for a global economic rebound should keep Vodafone shares
attractive for investors. Even if we dont see much in terms of price performance
from VOD in 2012, the stocks yield is substantial enough to consider.
Additional Resources for VOD
Dividend.com Profile Page for VOD

Full Dividend Payout History for VOD
259
Verizon Communications Inc. (VZ)

2011 Range:
31.60 - 38.95
Market Cap:
101.9B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.20
2012 EPS Est:
Annualized Div:
2.00
Div. Yield:
0.91
16,359,500
14.50
2.55
5.54%
0.78
VZ Five-Year Stock Chart
Company Profile
Verizon Communications, Inc. (VZ) is a holding company whose subsidiaries
provide communications services, including wired and wireless telephone,
broadband Internet, and digital television and network services to customers
worldwide. The company operates in two segments: Wireline and Domestic
Wireless. Born in 1983 out of the antitrust breakup of "Ma Bell" (the original
AT&T Corp), Verizon was known as Bell Atlantic until 2000. The company is
based in New York, New York.
260

Year
Annualized Payout
Change
2010
1.913
+3.13%
2009
1.855
-3.39%
2008
1.92
+16.72%
2007
1.645
-43.91%
2006
2.933
+83.31%
2005
1.6
+3.90%
2004
1.54
--
2003
1.54
--
2002
1.54
--
2001
1.54
-2.96%
2000
1.587
+2.99%
1999
1.541
+0.06%
1998
1.54
+38.12%
1997
1.115
-22.03%
1996
1.43
+2.51%
1995
1.395
+1.82%
1994
1.37
+37.69%
1993
0.995
-22.87%
1992
1.29
+4.03%
1991
1.24
--
261

Below are Dividend.com's proprietary DARS Ratings for VZ as of Nov. 23,
Dividend.com DARS Ratings for VZ

Relative Strength
3.0
VZ is performing in-line with the market or better.
4.0
VZ's dividend yield is above the industry average.
4.5
VZ has been paying dividends for 27 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
4.0
VZ has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
3.0
VZ's earnings estimates are flat.
262

Dividend.com 2012 Forecast for VZ
Potential Catalysts
The only other large cap U.S. telecom play besides AT&T.
Stock sports an attractive 5%-plus dividend yield.
Potential Concerns
Growth is now a very slow process for this mature company.

Businesses are susceptible to changing consumer technology demands.
Bottom Line
Verizon a good name for yield-seeking investors, but dont expect much share
price appreciation, much like its largest competitor, AT&T (T).
Additional Resources for VZ
Dividend.com Profile Page for VZ

Full Dividend Payout History for VZ
263
Waste Management, Inc. (WM)

2011 Range:
27.75 - 39.69
Market Cap:
13.768B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
2.12
2012 EPS Est:
Annualized Div:
1.36
Div. Yield:
0.64
6,027,670
14.54
2.36
4.56%
0.58
WM Five-Year Stock Chart
Company Profile
Waste Management, Inc. (WM) is a holding company whose subsidiaries offer
trash collection, transfer, recycling, disposal, and waste-to-energy services to
customers in North America. Founded in 1894 and formerly known as USA
Waste Services, the company is based in Houston, Texas.
264

Year
Annualized Payout
Change
2010
1.26
+8.62%
2009
1.16
+7.41%
2008
1.08
+12.50%
2007
0.96
+9.09%
2006
0.88
+10.00%
2005
0.80
+6.38%
2004
0.752
+7,420.00%
2003
0.01
--
2002
0.01
--
2001
0.01
--
2000
0.01
--
1999
0.01
-97.62%
1998
0.42089
-9.81%
1997
0.46666
+16.67%
1996
0.40
+16.88%
1995
0.34224
-11.49%
1994
0.38666
+77.54%
1993
0.21779
+47.02%
1992
0.14814
+38.89%
1991
0.10666
--
265

Below are Dividend.com's proprietary DARS Ratings for WM as of Nov. 23,
Dividend.com DARS Ratings for WM

Relative Strength
2.5
WM is performing in-line with the market or better.
4.0
WM's dividend yield is above the industry average.
4.5
WM has been paying dividends for 25 years, and we feel its dividend yield is
extremely safe.
Dividend Uptrend
3.0
WM has shown consistency in its payouts, but any increases have been small.
Earnings Growth
3.0
WM's earnings estimates are flat.
266

Dividend.com 2012 Forecast for WM
Potential Catalysts
Strong business as the leading U.S. waste collector.

Offers an attractive 4% dividend yield.
Potential Concerns
Company tends to be aggressive with acquisitions, which could keep its

share price down if the economy remains stagnant.
Bottom Line
Waste Management is an attractive dividend play, as long as its yield remains at
4% or higher. Any lower than that, and youre better off looking elsewhere.
Additional Resources for WM
Dividend.com Profile Page for WM

Full Dividend Payout History for WM
267
Weyerhaeuser Company (WY)

2011 Range:
14.82 - 25.33
Market Cap:
8.543B
Avg. Volume:
P/E Ratio:
2011 EPS Est:
0.26
2012 EPS Est:
Annualized Div:
0.60
Div. Yield:
2.31
6,603,060
19.63
0.45
3.77%
1.33
WY Five-Year Stock Chart
Company Profile
Weyerhaeuser Company (WY) is a forestry products company. It engages in
growing and harvesting timber, as well as in the manufacture, distribution, and
sale of forest products primarily in the United States and Canada. The company
operates in five segments: Timberlands, Wood Products, Cellulose Fibers, Real
Estate, and Corporate and Other. Formerly known as Weyerhaeuser Timber
Company, WY was founded in 1900 and is based in Federal Way, Washington.
268

Year
Annualized Payout
Change
2010
0.15
-57.14%
2009
0.35
-85.42%
2008
2.4
--
2007
2.4
+9.09%
2006
2.2
+15.79%
2005
1.9
+18.75%
2004
1.6
--
2003
1.6
--
2002
1.6
--
2001
1.6
--
2000
1.6
--
1999
1.6
--
1998
1.6
--
1997
1.6
--
1996
1.6
+6.67%
1995
1.5
+25.00%
1994
1.2
--
1993
1.2
--
1992
1.2
--
1991
1.2
--
Note: WY sold off a number of assets in the last few years, which accounts for the dividend drop.
269

Below are Dividend.com's proprietary DARS Ratings for WY as of Nov. 23,
Dividend.com DARS Ratings for WY

Relative Strength
2.5
WY is performing in-line with the market or better.
3.5
WY's dividend yield is above the industry average.
4.0
WY has been paying dividends for 78 years, and we its dividend yield is safe.
Dividend Uptrend
3.5
WY has shown steady and generous dividends, and has increased its payouts
each year.
Earnings Growth
2.5
WY's earnings estimates are flat.
270

Dividend.com 2012 Forecast for WY
Potential Catalysts
Dividend yield is near 4% on this leading timber play.
Potential Concerns
A prolonged housing slump could put a hard cap on share price

performance.
Bottom Line
Weyerhaeuser offers a decent risk/reward for investors who believe real estate
will bottom in 2012. That said, were not too wild about the stock unless you can
get it at a 4%-plus yield.
Additional Resources for WY
Dividend.com Profile Page for WY

Full Dividend Payout History for WY
271
Conclusion: Putting Your 2012 Investing

Plan into Action
Well-known author Henry David Thoreau once said:
"A truly good book teaches me better than to read it. I must soon
lay it down, and commence living on its hint. What I began by
reading, I must finish by acting."
In that vein, I hope youll act in your best financial interests in 2012. More than
ever, finding the right investment strategy is essential, and we feel that dividend
investing is the best possible option for the vast majority of the investing public.
Putting what youve learned into practice is the real key, however. We advocate
investors develop a monthly system of putting money to work in their brokerage
accounts. Automate this process as best you can, so as to remove any
possibilities of "missing a month" here or there.
Embrace the learning process of investing. You should never stop gathering
knowledge along the way. Always be willing to keep an eye on what your
money is doing. Staying in the loop is a great thing. Youll always benefit from
staying on top of market and economic moves, and how they affect your
holdings.
Just dabbling in the markets will not get you to where you need to be. Instead,
stay consistent with your investments. If you have a bad habit of jumping in and
out of the markets, dividend investing is the best remedy for your affliction.
Youll gain a new perspective on the results that long-term investing and the
power of compound interest can deliver.
We realize many of you have already put these concepts into practice, but market
volatility tends to push some investors to the sidelines for extended periods of
time. Thats when the habit of trying to "time" the markets takes hold. The
danger with market timing is that you need to be right twice -- both when you
buy and sell. You essentially morph into a trader, and Ive made it clear how
incredibly difficult it is to succeed at trading. Instead, be an investor who seeks
to generate income and compounding returns from dividend-paying stocks.
The world is full of starters, but it is the finishers that reap the rewards. So adopt
a plan and stay the course!
272
Also from Paul Rubillo

The book that will change
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knowledge you need to build
your own nest egg. Be a
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Learn why dividend

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Use simple, time-tested

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Protect yourself against

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Maximize the amount

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www.dividendmillionaire.com
273
Disclaimer: This eBook is intended for use ONLY by the subscriber

whose name appears on our subscription records. It may not be
copied, faxed or forwarded without written consent from
Dividend.com LLC. If you are reading this report and are not a
subscriber, you may be in violation of laws regarding the copyrights
for this publication, which are held by Dividend.com LLC. Contact :
609.264.0227, Fax: 609.264.0311, e-mail: contact@dividend.com or visit
our Website: http://www.dividend.com/
274

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