Overall the business is growing, slowly, but it’s growing mainly due to international exposure. It has a roughly 75% dividend payout ratio and over a 4.5% yield at the moment. My theory is it will continue to move inversely to treasury rates and then slowly stabilize and reverse once they stop rising. The business isn’t thriving but it is growing and supports 54 years of dividend increases. $10B has also been approved for stock buybacks between now and 2030 which is a GOOD sign in my eyes as the stock drops near 15 PE. I think it’s a somewhat safe investment at current levels and have put options striking at $125 mid month I’m considering not rolling to purchase and hold onto.
Anyone have any thoughts?