Dividend Champions With Highest PAAY Portfolio

Our studies have established that the Dividend Champions are a high-quality group of dividend stocks. But valuation is just as important as quality. We want to buy the undervalued Champions, not just any Champion. One of our other portfolios, the Dividend Champions by highest Yield, chooses the highest yielding Champions, assuming that the high yield is an indication of good valuation. But with a little more effort we can make valuation work even better for us. The Dogs of the Dow, and the Dogs of the Champions methods, choose the highest yield stocks from their respective groups. But does the highest yielding automatically mean the most undervalued? Not necessarily. Some of the stocks, such as AT&T always have a high yield. Whether the stock price is up or down, the yield is always high. It doesn’t mean the stock is undervalued.

The PAAY system shows that it is the stocks yield, in relation to its usual yield, that can give you an indication of the stocks valuation. A stock that has a higher yield than usual for that stock, may be undervalued. Even if that stock has a lower yield than other Champions it may still be a better buy. So, in this portfolio we choose the stocks, not necessarily that have the highest yields, but that have the highest PAAY.

Below is a theoretical portfolio made up of the 20 Dividend Champions with the highest PAAY on 1/2/2019. Eventually we hope to turn this into a live portfolio.



(Since 1/2/19 As of 12/31/19)



  • If viewing the chart (above) on a phone, you may need to rotate your phone to a horizontal position to view the entire chart.
  • On some devices, you may not be able to view the spreadsheet (below) correctly. In that situation, feel free to download the file using one of the button options provided. (CSV, Excel or PDF)
  • Price information updated every weekend.  Please refresh this page for the latest stock information.
Company name
Cost basis
Original value
Last Price
Market value
Div / Share
Div Yield
Automatic Data Proc.ADP76.847$130.14$10,000.00$226.19$17,382.02$4.161.84%73.82%
A.O. Smith Corp.AOS234.25$43.47$10,000.00$48.58$11,379.87$1.122.31%13.80%
BancFirst Corp. OKBANF203.81$50.68$10,000.00$89.47$18,234.88$1.601.79%82.35%
Eaton Vance Corp.EV293.92$34.82$10,000.00$0.05$14.70#N/A#N/A-99.85%
H.B. Fuller CompanyFUL237.41$43.19$10,000.00$60.10$14,268.34$0.761.26%42.68%
Helmerich & Payne Inc.HP221.2$48.25$10,000.00$36.97$8,177.76$1.002.70%-18.22%
Illinois Tool WorksITW80.57$126.60$10,000.00$180.65$14,554.97$5.242.90%45.55%
John Wiley & Sons Inc.JW.A219.29$47.61$10,000.00#N/A#N/A#N/A#N/A#N/A
Leggett & Platt Inc.LEG287.16$36.01$10,000.00$33.22$9,539.46$1.765.30%-4.61%
MDU ResourcesMDU429.2$23.56$10,000.00$27.35$11,738.62$0.873.18%17.39%
Altria Group Inc.MO212.75$49.31$10,000.00$40.38$8,590.85$3.769.31%-14.09%
Nucor Corp.NUE197.36$52.21$10,000.00$106.99$21,115.55$2.001.87%111.16%
Stepan CompanySCL136.24$74.06$10,000.00$93.67$12,761.60$1.341.43%27.62%
SEI Investments CompanySEIC217.76$46.07$10,000.00$49.05$10,681.13$0.801.63%6.81%
AT&T Inc.T372.61$29.54$10,000.00$15.34$5,715.84$1.117.24%-42.84%
Target Corp.TGT155.19$66.44$10,000.00$148.39$23,028.64$4.322.91%130.29%
Tennant CompanyTNC193.94$52.74$10,000.00$56.56$10,969.25$1.001.77%9.69%
Universal Corp.UVV194.69$54.80$10,000.00$46.04$8,963.53$3.166.86%-10.36%
VF Corp.VFC151.37$67.18$10,000.00$29.91$4,527.48$2.006.69%-54.73%
ExxonMobil Corp.XOM153.7$69.69$10,000.00$87.31$13,419.55$3.524.03%34.20%
Total Portfolio$200,000.00#N/A#N/A

Recent Changes

11/12/19 : Automatic Data processing (ADP) Raised its dividend from 0.79/shares to 0.91/shares, an increase of 15.2%