DIVIDEND ARISTOCRATS. IF THEY ARE IN RUSSIAN STOCK MARKET?

Abstract

The article explains the concept of “dividend aristocrats”, set out the criteria used for the construction of stock indices and dividend aristocrats portfolios (funds) on the allocation of shares in developed capital markets. We compare results of investing in stocks with stable dividend payments (DPS, DY) and traditional benchmarks (broad stock indices with TR and risk measures). We provide an overview of dividend public payers on Russian market of intermediate and annual frequency of dividend payments and DY and total return (TR) of payers. We identify dividend aristocrats with Russian market public companies for 3, 5 and 7 past periods, respectively, and we evaluate their dividend and total return.