We believe that a portfolio focused on high-quality companies with a culture of dividend payment and dividend growth will result in above average returns over time, with reduced volatility. Dividends are the tangible and essential link between shareholders and the companies they own and are the engine of long-term investment returns. They provide intelligence concerning a company’s financial strength, the quality of its earnings and the confidence of its management and board of directors. Additionally, dividends furnish investors with a steady and growing stream of income that dampens share price volatility and contributes meaningfully to long-term returns.