Dividends are nice to receive and they’re even nicer when they arrive from companies that hold zero long-term debt on the books. That type of dynamic makes it more likely that such dividends will continue to be paid (without interruption) and that they may increase as time goes by.
Investor satisfaction is never guaranteed, of course, and such stocks might have other problems, but it’s likely that “zero long-term debt” and “dividends paid” is the outcome of reasonably decent management. For this screen, I’ve added “trades below book value” as another factor.
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