07-09-2015, 04:30 PM
(07-09-2015, 04:07 PM)Kerim Wrote: Hmmm. Feels a little underwhelming.... I was expecting a bit better. Any thoughts?
Management has stated a target payout ratio of 30-35%. Today's increase to $1.44 annualized is about 38% of guidance 2015 earnings of $3.70-$3.80 per share.
I expect one more two more years of 6-8% increases to get the payout ratio into the the mid-point of guidance, and then expect increases to match EPS growth rate (12-14%) from then forward.