Great post, Horace, and nice find in the PSX transcript. You're right that they have to walk the walk too, but some companies don't even talk the talk. I think it is reassuring.
I agree that we'll have to keep a close eye on what COP does with the dividend in the next year or two, but as you've said, keeping the dividend whole through the PSX spinoff was a pretty giant thing, and in my mind, buys them some leeway for a while.
As I mentioned in an earlier post, I still "mentally account" for my COP and PSX together to get an idea of how that investment decision (in COP before the spinoff) has played out. I bought 100 shares of COP for right about $60 in March 2012. $6000 invested and $264 in annual dividends. Now, about 18 months later, my 100 shares of COP are worth about $6900 and my 50 shares of PSX are worth about $2850. So my $6000 investment is now worth about $9750. Better yet, my $264 in annual dividends has grown into $338.50 -- a 28 percent increase in 18 months.
Not too shabby! (In fact, yet another "wish I'd bought more" situation!)
I agree that we'll have to keep a close eye on what COP does with the dividend in the next year or two, but as you've said, keeping the dividend whole through the PSX spinoff was a pretty giant thing, and in my mind, buys them some leeway for a while.
As I mentioned in an earlier post, I still "mentally account" for my COP and PSX together to get an idea of how that investment decision (in COP before the spinoff) has played out. I bought 100 shares of COP for right about $60 in March 2012. $6000 invested and $264 in annual dividends. Now, about 18 months later, my 100 shares of COP are worth about $6900 and my 50 shares of PSX are worth about $2850. So my $6000 investment is now worth about $9750. Better yet, my $264 in annual dividends has grown into $338.50 -- a 28 percent increase in 18 months.
Not too shabby! (In fact, yet another "wish I'd bought more" situation!)