The Dividend Mailbox

Greg Denewiler

We want to stuff your mailbox with dividends! Our goal is to show you the power of dividend growth investing, and for each year's check to be larger than the last. We analyze specific companies and look at the mindset this strategy requires to be successful long-term. Come explore this not-so-boring world and watch your portfolio's value compound.

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Top 10 The Dividend Mailbox Episodes

Goodpods has curated a list of the 10 best The Dividend Mailbox episodes, ranked by the number of listens and likes each episode have garnered from our listeners. If you are listening to The Dividend Mailbox for the first time, there's no better place to start than with one of these standout episodes. If you are a fan of the show, vote for your favorite The Dividend Mailbox episode by adding your comments to the episode page.

No 7%+ Yields for Us — Here’s Why

The Dividend Mailbox

12/21/22 • 36 min

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If you spend much time managing your own money or researching companies, odds are you have been exposed to high-yielding opportunities. From stocks to bonds to real estate, there are plenty of investments out there that present themselves as quality investments while simultaneously generating large income streams.
7%+ yields seem hard to beat, but there is usually a reason why the yield is so high. In a way, the market is essentially showing the investor a blinking warning light, one that indicates that there is risk built into the price of the company. This is not to say that these opportunities don't work, just that dividend growth investors need to be wary of what they entail.
In the year's final episode, Greg answers a listener's question about prioritizing dividend growth or yield when nearing retirement age. That opens the door to examining the pitfalls of investing in high-yielding companies, where he provides a framework for analyzing the risk embedded within such investments. Later he compares Williams-Sonoma and Restoration Hardware in response to Berkshire Hathaway's recent addition of the company to its portfolio. Finally, Greg wraps up the episode with some food for thought.
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What Does a 'Fat Pitch' Look Like?

The Dividend Mailbox

03/15/25 • 33 min

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While it may be a somewhat misused paraphrase of Warren Buffett's famous baseball analogy, 'fat pitch' is a term often thrown around in investing circles. In most settings, it implies that an investment opportunity is extremely lucrative with a high probability of success—but they are rare. Beyond having the discipline to patiently wait for these opportunities, what does a 'fat pitch' actually look like?
In this episode, Greg discusses the concept of 'fat pitches' by exploring the extraordinary long-term performance of Altria (formerly Philip Morris), despite numerous industry challenges and negative headlines. Through a detailed analysis of Altria's historical performance, including its high dividend yield and impressive cash flow management, he emphasizes the timeless principles of dividend growth, patient investing, and compounding.
00:00 Introduction to The Dividend Mailbox Podcast
02:34 Review of Current Dividend Growth Performance and Market Observations
06:13 Case Study: The Success of Philip Morris
15:58 Key Takeaways from Philip Morris's Performance
24:51 Lessons on Dividend Growth and Compounding
32:14 Conclusion and Final Thoughts

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Buying in the Storm: How Bear Markets Lead to Higher Dividends and Returns

The Dividend Mailbox

04/15/25 • 37 min

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Almost everyone knows that tariffs and trade wars have sent global markets spiraling, with the Dow down 17% and the S&P 500 down 20% from their highs, based on our recording date. While technically that implies we have entered a bear market, it also means better prices for long-term cash flow. It is human nature to get nervous when markets seem to be on the brink of panic, but dividend growth investors should see times like these as a gift.

In this episode, Greg tackles the tough headlines and sinking sentiment in today’s markets. As recession fears grow and the market experiences significant volatility, Greg explains why focusing on sustainable cash flow and quality companies provides stability for long-term investors. From investor psychology to long-term GDP trends, Greg discusses how disciplined dividend investing turns market panic into wealth creation. Later, he highlights our recent purchase of Union Pacific ($UNP) as proof of concept.

EDIT: In the episode, Greg mentions that paying $30 for $1 of earnings is about a 2.5% earnings yield. This comment was made in error; the correct number is a 3.33% earnings yield.

Topics Covered:

[01:00] Why focusing on cash flow provides clarity in a chaotic market
[02:48] First quarter portfolio performance and the power of staying invested
[05:00] Reframing a bear market: buying cash flow at a discount
[06:55] How GDP and earnings trends support long-term optimism
[10:17] Why market corrections test your investment mindset
[11:50] Comparing stock ownership to rental property — and why we forget it's the same
[16:33] Real numbers that contradict the media narrative (household debt, corporate cash, etc.)
[24:52] New position: Why we bought Union Pacific and what makes it a dividend powerhouse
[28:40] The case for quality, patience, and diversification during uncertainty
[31:33] Index funds, dividend ETFs, and staying positioned for the rebound
[34:01] The most dangerous investing phrase: "It's different this time"

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Is Your Goal to Make Money or Build Wealth?

The Dividend Mailbox

08/16/22 • 26 min

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What do you do when one of your investments has rapid success? Do you sell it for a quick gain hoping to buy it back later? Anytime you buy or sell you have to make a decision, and with every decision comes another chance of being wrong. Large jumps in stock prices are tempting, but they put investors at a crossroads. You have to decide if your goal is to make money... or to create wealth.
In this month's episode, Greg outlines the best way to execute the dividend growth strategy, and specifically, how to stay disciplined when things go well. He dives into Williams-Sonoma, a specialty retailer with a nearly flawless balance sheet that has rallied almost 45% in just a couple of months. It has proven to be a lucrative opportunity, but it poses unexpected challenges to the individual investor. Using 4 different scenarios, he walks through why selling early might put some cash in your pocket but is counteractive to building wealth.

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With New Leadership, is Starbucks a Solid Dividend Candidate?

The Dividend Mailbox

09/18/24 • 38 min

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When a company’s stock price has struggled for years, a change in management may be just what it needs to get back on track. Even still, new management can’t fix everything.

Historically, Starbucks has been an impressive growth story, generating phenomenal wealth for investors. Despite its profitability and strong cash flows, recent challenges have raised questions about whether those days are long gone. In this episode, Greg analyzes the Starbucks story as a potential dividend growth candidate and what the future may hold. He discusses the implications of Starbucks' new CEO (who previously turned around Chipotle), and the company's strategy to address operational inefficiencies.

Later, Greg transitions to an update on Chevron which has been part of the model portfolio since 2010. Although higher dividend yields can signal problems for a company, Chevron’s resilience makes it worth considering adding to the position.

00:00 Introduction to Dividend Mailbox
00:47 Starbucks: A Familiar Name with a Compelling Story
03:33 Starbucks' Financial Performance and Challenges
05:22 Evaluating Starbucks as a Dividend Growth Investment
11:33 Starbucks' Debt and Cash Flow Analysis
27:10 Conclusion on Starbucks and Transition to Chevron
28:04 Chevron: A Reliable Dividend Growth Story
29:41 Chevron's Financial Health and Future Prospects
35:41 Final Thoughts and Wrap-Up

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You Don't Need A "Winner" To 10x Your Income

The Dividend Mailbox

09/16/22 • 25 min

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For most investors, if their portfolio went up by X amount in Y years, they'd be satisfied. Yet simultaneously, those same investors secretly hope they bought the next big thing, waiting for the stock's price to grow 10x.
In truth, 10x-ing a stock price is challenging. It requires resources, unique ideas, and a willingness to go above and beyond fellow market participants. To the average investor, expecting every investment to go up tenfold might be wishful thinking. But what about growing your portfolio income 10x? Now that is much more attainable...
In this month's episode, Greg examines 3M, a company that has been in our portfolio for over a decade. Although the company's stock has recently seen a decline, he makes the case that it is much easier to 10x a stock's income than it is to 10x a stock's price — all it takes is a mindset. Later, he explores if there is any value in market predictions and forecasts.

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UNP Deep Dive: A Growing Dividend Is Just Around the Bend

The Dividend Mailbox

10/18/23 • 35 min

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To most investors, big returns are associated with exciting stories or cutting-edge technology. Since everyone is in the market to make as much money as possible, “boring” companies can be easily dismissed without much second thought. That line of thinking is straightforward enough but it may be misguided. Truthfully, some of the better-performing companies out there are actually pretty boring. When it comes to achieving attractive returns, it is not what a company does that is important, it is how well they do it.
In this episode, Greg embarks on a deep dive into Union Pacific Railroad ($UNP) and the broader railroad industry. He makes the case that railroads are extremely predictable, well run, and have provided investors with decades of market-beating returns. Railroads are probably not your first idea for building wealth, but these companies are cashflow-compounding machines. This episode is a little bit deeper than we have gone in the past, but it makes for a compelling story.

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Revisiting Hershey: The Market Pays What the Market Bears

The Dividend Mailbox

02/19/25 • 38 min

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Following brief upward momentum after we first bought Hershey, the stock proceeded to slide downward. Cocoa prices remain elevated, and there is significant uncertainty surrounding the short-term impacts on the company's operations. However, Hershey's recent earnings report shows that the company is more resilient than it may appear.

Despite a 20% stock decline, Greg emphasizes that there are still many things to like about Hershey. Simply put, there is much more to the story than the current price of cocoa. Going a bit deeper, Greg examines the cocoa supply chain, specifically the impact of weather and geopolitical issues on production in major countries like Ivory Coast, Ecuador, and Ghana, highlighting several factors that suggest a possible future drop in cocoa prices. He further discusses Hershey's superb hedging strategies, strong balance sheet, and potential for high returns through dividends and stock growth within the next decade. Ultimately, Hershey's attractive valuation, dividend yield, and potential dividend growth allow investors to start with an advantage. In closing, Greg presents a Suber Bowl analogy to underscore the patience required for long-term investing, contrasting it with the short-term focus prevalent in current market analysis.

00:00 Introduction to The Dividend Mailbox

02:16 Revisiting the Hershey Story

05:37 Hershey's Market Position and Challenges

07:36 Cocoa Market Dynamics

12:04 Hershey's Financial Health and Strategy

15:29 Investment Strategies and Long-Term Outlook

25:50 Rant on Market Commentary and Short-Term Thinking

31:14 Super Bowl Analogy and Final Thoughts

37:50 Conclusion and Contact Information

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Special Interview With Simeon Hyman - Global Investment Strategist at ProShares

The Dividend Mailbox

06/15/22 • 40 min

In this month’s special episode, Greg interviews Simeon Hyman, the Global Investment Strategist and Head of Investment Strategy at ProShares.

With over $60 billion in managed assets across more than 100 different ETFs and funds, ProShares is a large-scale player in the financial markets. Their second-largest fund, The S&P 500 Dividend Aristocrats Fund (Ticker: NOBL), is a testament to the power of dividend growth and showcases just how effective compounding returns over time is.

During the interview, Greg picks Simeon’s brain about dividend growth investing and how NOBL executes this strategy extremely well. Later, Greg and Simeon dispel some misconceptions some investors may have.

As June marks the 12th monthly episode of TDM, a full year of growing dividend checks is in the rear-view mirror. Considering everything we’ve covered so far, we hope you enjoy this special interview!

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Greater Volatility & More Uncertainty: Monitoring Chevron and Clorox In The Dividend Mindset

The Dividend Mailbox

03/16/22 • 20 min

A lot has happened in the span of a month, especially in regard to inflation, interest rates, and the Ukrainian War. These events have only added to the downward momentum of the stock market so far this year, painfully reminding investors that not every year can be like 2021.

Last month we took an in-depth look at two investment ideas: Chevron and Clorox. Has the recent market volatility really changed the long-term prospects of these companies? It is never fun to watch your account value sink, but in this episode, Greg argues that only more opportunities have presented themselves. He also examines how to determine whether to buy, hold, or sell, when dividend growth is the key goal. It is only natural to have anxiety about the market right now, but by adopting the dividend mindset, you can sleep better at night.

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FAQ

How many episodes does The Dividend Mailbox have?

The Dividend Mailbox currently has 47 episodes available.

What topics does The Dividend Mailbox cover?

The podcast is about Retirement, Investments, Financial Literacy, Investing, Future, Mindset, Income, How To, Portfolio, Growth, Podcasts, Finance, Education, Business and Stocks.

What is the most popular episode on The Dividend Mailbox?

The episode title 'Is Your Goal to Make Money or Build Wealth?' is the most popular.

What is the average episode length on The Dividend Mailbox?

The average episode length on The Dividend Mailbox is 32 minutes.

How often are episodes of The Dividend Mailbox released?

Episodes of The Dividend Mailbox are typically released every 30 days, 20 hours.

When was the first episode of The Dividend Mailbox?

The first episode of The Dividend Mailbox was released on Mar 19, 2021.

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The Dividend Mailbox

Greg Denewiler

Top 10 The Dividend Mailbox Episodes

FAQ

How many episodes does The Dividend Mailbox have?

What topics does The Dividend Mailbox cover?

What is the most popular episode on The Dividend Mailbox?

What is the average episode length on The Dividend Mailbox?

How often are episodes of The Dividend Mailbox released?

When was the first episode of The Dividend Mailbox?

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