04-21-2016, 09:29 AM
(04-20-2016, 11:03 PM)Dividendsrule Wrote: I'm with Kerim, and DW brings up some good points.
I'm spoiled having bought most of my AFL during Fukushima and also when there was this meme that their portfolios were full of European bonds when everyone thought Europe and Greece would explode into a giant fireball.
Quite disappointed with these low raises the past few years, but at this point, I'd prefer a more prudent management that one too aggressive...But yeah, hard for me to pull the trigger here.
But a high quality company. I keep hoping that one year management will announce a mid teens dividend raise, justifying the slower years. One does need to be patient in this business.
These are all great points, definitely things to consider. I've had AFL and reinvested for so many years that my cost basis is so low. I'm happy with 6% dividend increases. I think they are conservatively run. It helps to consider AFL as two separate businesses, the Japanese business and rest of world. For gaap reporting, yen gets translated back to USD, which looks bad on paper. However, that's not representative of their actual business, which grows steadily if you back out the fx impact.