Notes On Idea Lists

I have been doing the idea list again, since about May. I really do not feel any different, or that my life is about to change.

Overall, it has been going well, but I have been losing some momentum in the past couple of weeks. Coming up with topics is still pretty hard. I kind of feel I am at the same place I was the last two times I tried it, it just took me longer to get here.

The main issue is topics for the idea list. JA never mentions that is the hardest part. In one post he does give tips (reading a lot, see here) and I have to admit I have not followed all of them.

Some of the idea lists that I come up with are kind of dumb, like I’m a bad comedy writer. But sometimes when I get to number 9 I come up with something interesting. (And when I do, I agonize over whether or not I can quit, or if I should do a tenth).

I make idea lists about why to do something, and sometimes why not to do something. Sometimes coming with reasons not to do something might be a good way to anticipate counterarguments to a suggestion at work, or a way to anticipate obstacles.
Sometimes I will see someone doing something, or who just looks interesting, or something that irritates me, and I will come up with ten or so ideas about that person’s history, or why they are doing whatever they are doing.

Sometimes I will combine things. Or I will get words from a passphrase generator, and come up with how they are related. That is not always very fruitful.

I try to keep a list of possible topics. I try to work on it once a week. Sometimes a possible topic will occur to me and I will write it down. It may be changing how I observe things, but I don’t feel like my list is on the cusp of a big change.

A couple of months back, I was thinking about giving up. I went to Whataburger for lunch, and I saw a car that had been painted over several times. In the layer under the top, someone spray-painted “Elvis” several times all over the car. The top layer was gold. And there was a mannequin in the backseat. I thought, “I can use this.”

If I lived in Florida, I could just follow Florida Man.

I know James wrote that his idea lists have gotten him invites to speak from companies, but I have found that sometimes people do not want suggestions. People do not want things to change. I work on a large Java app for a state government. The base application is about ten years old. Java has changed a lot in ten years. It is less verbose and less painful to work with. At least, that is what I have heard. Would re-writing the app be a pain? Yes, but then it is a pain to use. What does this have to do with idea list? Management is not open to the best solution (and I am not the only one who thinks starting over might be the best solution). But writing more, smaller apps, tools, and utilities to manage the main application they are okay with. The problem is this adds more complexity. They are okay with adding more apps and processes to what we do than actually change what we are doing. The sunk cost fallacy is a stronger force than compound interest.

While it is frustrating, on another level I can understand it. People generally do not like someone dropping out of the sky and giving unsolicited advice. It makes you look like a jerk, not an enlightened person.

Maybe I should spend more time on actual issues in my life. Unless that leads to frustration.

I took a creative writing course when I was at WIU. She once mentioned that in one of her classes, she had to make links between different topics in her life. If she had learned something in a physics class, and she was in love with “someone” (her word, not mine), she had to think of a way they related to one another.

Another issue is that I think in order to have new ideas, you need to expose yourself to new things. But I want more control over my life, and the way I see it, that means more discipline, more routine.

Big Jim’s idea machine might be running out of steam.

Painting of the Nativity by Guido of Siena (13th Century), assumed allowed under Fair Use.

2019-10 Dividend Income Report

Here is the dividend income report for October, 2019.

The monthly dividend income came out to $291.83. The yearly income total for 2019 through the end of the month was $6777.52.

The income for October, 2018 was $1130.39, and the yearly income for 2018 through the end of September was $4606.91.

The Vanguard Utilities ETF (VPU) paid out in October instead of September. Other than that, no real news on my front.

I might make some adjustments to my 401(k) at work, like taking some money out of stocks and putting it into bonds. Stocks have been going up for ten years. That will not go on forever.

Here is a table with the year-to-date amounts, the monthly amounts, and the three- and twelve-month moving averages for each October from 2011 through 2019:

Month YTD Amount 3MMA 12MMA
2019-10 $6777.52 $291.83 $822.53 $761.86
2018-10 $4606.91 $1130.39 $561.66 $583.77
2017-10 $5138.63 $341.83 $566.34 $556.11
2016-10 $4541.79 $281.09 $508.05 $496.43
2015-10 $4056.72 $312.23 $459.42 $438.15
2014-10 $3236.89 $243.87 $368.19 $340.32
2013-10 $2558.86 $184.81 $295.19 $291.08
2012-10 $2650.92 $225.14 $285.46 $284.35
2011-10 $2330.68 $208.90 $258.17 $238.44

Here are the securities and the income amounts for October, 2019:

  • Vanguard Utilities ETF: $228.96
  • Vanguard Total Bond Market ETF: $38.18
  • Vanguard Total International Bond ETF: $10.91
  • Brokerage Money Market: $4.95
  • Brokerage Treasury Account: $8.83

Big Jim does not have much news this month.

Painting by Meister der Legende der Heiligen Cecilia, circa 1300. Image from Wikimedia, assumed allowed under Fair Use.

2019-09 Dividend Income Report

Here is the dividend income report for September, 2019.

The monthly dividend income came out to $2112.65. The yearly income total for 2019 through the end of the month was $6485.69.

The income for September, 2018 was $506.44, and the yearly income for 2018 through the end of September was $3476.52.

The international stock dividend fund did not pay as much this quarter as last quarter.

The Vanguard Utilities ETF (VPU) did not pay this month. It paid a dividend on October 1. I know it’s a first-world problem, but I am thinking of replacing it with State Street’s Utilities Select Sector SPDR Fund (XLU). XLU is State Street’s only utility ETF, and BlackRock’s  iShares U.S. Utilities ETF (IDU) has a much higher expense ratio. VPU has the most holdings. I think for the time being I will stick with it.

I am a bit surprised that State Street does not have a broader utility ETF in addition to XLU. XLU has the dividend stocks that are in the S&P500.

Fidelity has the Fidelity MSCI Utilities Index ETF, FUTY. It has the lowest expense ratio, almost as many holdings as VPU, and a nice dividend. But as I stated, I think for now I will stay put. As Buffett has stated, returns decrease and trading increases. Or maybe it was Jack Bogle.

My brokerage money market account paid $6.03 in August, and $4.86 in September. Interest rates are low and getting lower. The only reason Dolt 45 wants lower interest rates is because he owes a LOT of money. I don’t think the economy really needs it. Granted, things are not great, but I don’t think the economy is slowing down yet. I don’t think the next recession will be as bad as the one we say in 2008-2011 (depending on what country we are talking about), but cutting rates at this stage is a bad idea. Rates are historically speaking low right now. In 2006, the federal funds rate (what the Fed says banks can charge each other) was 5.25%, and the discount rate (what the Fed charges banks) was 6.25%. Right now, those rates are 1.75% and 2.75%.

A lot of people think interest rates are too high right now. Perhaps things are a lot worse than they seem. Or perhaps the whole Rethuglican Party is abandoning its supposed rock-solid principles, and just following Dolt 45’s lead. When conservatives seem inconsistent, they are really not. They are lying (whether to themselves as well as others I do not know) about what they are consistent about. It’s not about freedom, or balanced budgets. It’s about being in charge and staying in charge.

Here is a table with the year-to-date amounts, the monthly amounts, and the three- and twelve-month moving averages for each September from 2011 through 2019:

Month YTD Amount 3MMA 12MMA
2019-09 $6485.69 $2112.65 $744.85 $831.74
2018-09 $3476.52 $506.44 $430.49 $518.06
2017-09 $4796.80 $775.50 $562.76 $551.05
2016-09 $4260.70 $720.86 $505.47 $499.02
2015-09 $3744.49 $659.59 $443.06 $432.46
2014-09 $2993.02 $536.75 $353.04 $335.39
2013-09 $2374.05 $395.65 $293.78 $294.44
2012-09 $2425.78 $315.21 $283.66 $283.00
2011-09 $2121.78 $243.26 $256.81 $233.01

Here are the securities and the income amounts for September, 2019:

  • Vanguard Total Bond Market ETF: $39.47
  • Vanguard Total International Bond ETF: $11.22
  • RLI Corp: $23.25
  • SPDR S&P Dividend ETF: $694.60
  • SPDR Dow Jones REIT ETF: $264.32
  • SPDR Dow Jones REIT ETF (second account): $436.67
  • SPDR S&P Global Dividend ETF: $630.07
  • Brokerage Money Market: $4.86
  • Brokerage Treasury Account: $8.19

Big Jim pays attention to details and remembers the big picture.

 German painting from about 1518 in a museum in Austria. Image from Wikimedia, assumed allowed under Fair Use.

Thoughts On Startups And Cisco

I know a couple of guys at Cisco who were brought in as part of an acquisition. They are members of a couple of meetups I attend. Their ranting about corporate culture sparked some thoughts about corporations and startups. I think there are a lot of things about the world that are the result of choices that were made before us, and not immutable laws of nature. Innovation can only happen in startups and corporations must be inflexible behemoths are two of those ideas.

This made me think of an article on Wolf Street: Cisco Buys 45th Company in 5 Years, Revenues Still Stagnate.  The title gives the basic idea of the article. From 2012 to 2017, Cisco bought 45 companies. Cisco has not disclosed the prices for all of those acquisitions. For 19 of them, it spent $18.2 billion.

We do not have an alternative reality to compare to ours. Perhaps the acquisitions are the only thing that prevented Cisco’s revenue from declining. Nevertheless, here is a table with revenue and income from 2010 to 2019 (in millions):

FY Revenue Net Income
2019 51,904 11,621
2018 49,330 110
2017 48,005 9,609
2016 49,247 10,739
2015 49,161 8,981
2014 47,142 7,853
2013 48,607 9,983
2012 46,061 8,041
2011 43,218 6,490
2010 40,040 7,767

I don’t know why income took a dive in 2018. It has gone up over the decade. But as the Wolf man says, it does not look like they got a great rate of return on their investments in acquisitions. Cisco spent billions on startups, and really has nothing to show for it.

Why not just hire people to expand? It might have cost less.

In my understanding of the VC world, not every investment makes a profit. An exit must cover the cost of the failed startups as well as cost of successful startups, in addition to a profit. And a new car or boat for the jackass VCs. Maybe the cost of the failed companies is not a line item in an acquisition agreement or IPO prospectus, but those costs are still embedded in an exit.

Instead of a big corporation acquiring one profitable startup from a VC that also has to make up for nine failed startups, why can’t big corporations start a dozen or so project teams, and shift people into the ones that are successful? When a corporation acquires a startup or a startup has an IPO, a lot of the upside has already happened. Why not keep some for yourself?

I think that like needing a car outside of a big city in the USA (and even in some big cities), a lot of people think that this is some immutable law of nature. I think this is the result of many, many choices, even some that were made for us that we do not know about. Maybe changing it would be next to impossible. Maybe Texas will never get mass transit. (Because nothing says “freedom!!” like spending an hour every day going 10 MPH when the speed limit is 60.) Just because things are this way does not mean things have to be this way. I think this is an example of the Is-ought fallacy.

My Meetup acquaintance have said things like, “Cisco would not have let us do this in language X or with library Y if the project started there.” If that were true, then that would be a choice. There is no reason that an internal team cannot try something in a new programming language. There might be people in the company who would like to try new technology. If a corporation is willing to buy a team that uses a new language, they should be willing to let internal teams have the same freedom.

Except Scala. It really is vile.

Some big corporations used to have research labs: PARC is still a part of Xerox. It may not be much now, but Xerox was one of the biggest companies in the world. (Carl Icahn got a hold of Xerox, so things are not going too well.)  Bell Labs is now part of Nokia. A lot of groundbreaking technology came out of those organizations. Real innovation, not the bogus innovation we get from Silicon Valley today, like Uber (combining taxis, phones and indentured servitude) or WeWork (“We are the middleman, and do NOT pass the saving on to you, because frankly we are losing money”). All Silicon Valley has given us in the past decade is advertising, mass surveillance, and more ways of losing money.

And who pushes the line that innovation can only come from startups and VCs? People in the startup/VC ecosystem. Ecosystem and “echo chamber” are synonymous here.

Big Jim wants us to make great things again.

Image  from Wikimedia, assumed allowed under Fair Use. Painting of the Annunciation by Duccio di Buoninsegna (c. 1255–1260 – c. 1318–1319), aka “The Duce”. Finally, this site takes a Duce.

2019-08 Dividend Income Report

Here is the dividend income report for August, 2019.

The monthly dividend income came out to $63.10. The yearly income total for 2019 through the end of the month was $4373.04.

The income for August, 2018 was $549.51, and the yearly income for 2018 through the end of August was $2970.08.

I am considering not putting money into any REITs and going with a bank ETF. Let’s face it, the banks always win no matter what happens. I thought about going with insurance, but there are two issues. One is I am not sure how each individual insurance firm makes their money to pay the dividend. I know a lot of them invest the float. If ABC Insurance pays for their dividend by buying XYZ Oil Company, maybe I should cut out the middleman? (Granted, finance is nothing but middlemen.)

For all the shady things banks do, in some ways insurance companies are worse. One of the big stories out of Hurricane Katrina was that they tried to tell people who were covered for wind damage that they had flood damage. Granted, that was almost 15 years ago, but it is pretty shady. When someone files a claim, their back is against the wall. Not a good time for a wealthy corporation to be playing games. I read somewhere that an insurance company’s business model is basically to deny as many claims as possible.

Here is a table with the year-to-date amounts, the monthly amounts, and the three- and twelve-month moving averages for each August from 2011 through 2019:

Month YTD Amount 3MMA 12MMA
2019-08 $4373.04 $63.10 $788.78 $697.89
2018-08 $2970.08 $48.14 $549.51 $540.48
2017-08 $4021.30 $581.69 $558.23 $546.50
2016-08 $3539.84 $522.20 $493.44 $493.92
2015-08 $3084.90 $406.45 $427.26 $422.22
2014-08 $2456.27 $323.94 $348.41 $323.64
2013-08 $1978.40 $305.11 $279.05 $287.74
2012-08 $2110.57 $316.04 $280.53 $277.00
2011-08 $1878.52 $322.35 $254.56 $225.45

Here are the securities and the income amounts for August, 2019:

  • Vanguard Total Bond Market: $40.47
  • Vanguard Total International Bond: $11.33
  • Brokerage Money Market: $6.03
  • Brokerage Treasury Account: $5.27

Big Jim is banking on dividends.

“Radha Pining for Her Beloved”, 1634, at the Brooklyn Museum, assumed allowed under Fair Use.

2019-07 Dividend Income Report

Here is the dividend income report for July, 2019.

The monthly dividend income came out to $58.79. The yearly income total for 2019 through the end of the month was $4309.94.

The income for July, 2018 was $736.90, and the yearly income for 2018 through the end of July was $2921.94.

I maxed out my 401(k) with my employer, so I have more money coming in every paycheck. I transferred the extra money to my broker to keep it separate from my checking account until I put it in my Roth IRA next year, and to hopefully earn a small bit of interest. And so far, it is very small. $0.72 to be precise. For some reason the money was put in a new account at my broker, so now I have two cash accounts. I thought it would go into the money market account. I just hit the “Submit” button thinking it would go into the same account. Hopefully this will not be a big deal. I hope the shares of RWR I bought bring in enough to make up for the $100 or so I am not getting anymore.

I am still thinking about putting money into REITs. Realty Income will announce their quarterly results tomorrow. I might decide to take the plunge with them. I mentioned a few other REITs a few months ago. I looked at their financial statements, and a lot of them have wide fluctuations in net income from year to year, sometimes from quarter to quarter. I want income, not drama. Realty Income has been increasing their income for 26 years. Granted, sometimes you have to go to the fourth decimal place to see the increase; in 2013 they increased from $0.1812292 in May to $0.1815417 in June. On the other hand, they pay monthly and have more than one increase in a year.

Here is a table with the year-to-date amounts, the monthly amounts, and the three- and twelve-month moving averages for each July from 2011 through 2019:

Month YTD Amount 3MMA 12MMA
2019-07 $4309.94 $58.79 $818.06 $696.65
2018-07 $2921.94 $736.90 $548.35 $584.94
2017-07 $3439.61 $331.08 $541.56 $541.54
2016-07 $3017.64 $273.36 $464.99 $484.27
2015-07 $2678.45 $263.13 $412.44 $415.35
2014-07 $2132.33 $198.43 $333.77 $322.07
2013-07 $1673.29 $180.57 $258.23 $288.65
2012-07 $1794.53 $219.72 $261.24 $277.53
2011-07 $1556.17 $204.83 $235.96 $211.69

Here are the securities and the income amounts for July, 2019:

  • Vanguard Total Bond Market ETF: $40.59
  • Vanguard Total International Bond ETF: $11.43
  • Brokerage Money Market: $6.05
  • Brokerage Treasury Account: $0.72

Big Jim prefers dividend increases of at least $0.01. Is that too much to ask?

“The Purification of the Temple” by El Greco (1541 – 7 April 1614), at the El Greco Foundation site, assumed allowed under Fair Use.

2019-06 Dividend Income Report

Here is the dividend income report for June, 2019.

The monthly dividend income came out to $2244.44. The yearly income total for 2019 through the end of the month was $4251.15.

The income for June, 2018 was $863.49, and the yearly income for 2018 through the end of June was $2185.04.

This is the first month with income from the State Street ETFs. So far, it was a pretty bug haul. WDIV paid over $1000. I usually do not get to $4000 in income until September. This ETF has bigger payouts in June and December, and smaller ones in March and September, so I do not expect to have such a nice haul every single time.

Dividend growth ETFs in general do not always have increasing payouts every quarter. That is one disadvantage relative to investing in the individual stocks. I think this is because people are buying and selling the fund all the time, and not buying and holding. I do not know if it is hedge funds doing the trading, or if people are continually seduced by the deceptive siren song of capital gains.

I also used some of my money market fund at one of my brokerage accounts to by additional shares of RWR. I did not buy the shares in time to get the dividend. I guess I bought on the ex-record date, or something. Still, waiting three months for the first payout is not the end of the world.

Here is a table with the year-to-date amounts, the monthly amounts, and the three- and twelve-month moving averages for each June from 2011 through 2019:

Month YTD Amount 3MMA 12MMA
2019-06 $4251.15 $2244.44 $959.55 $753.16
2018-06 $2185.04 $863.49 $319.68 $551.12
2017-06 $3108.53 $761.91 $539.42 $536.73
2016-06 $2744.28 $684.76 $464.00 $483.42
2015-06 $2415.32 $612.21 $411.83 $409.95
2014-06 $1933.90 $522.86 $333.10 $320.58
2013-06 $1492.72 $351.48 $257.79 $291.91
2012-06 $1574.81 $305.84 $260.85 $276.29
2011-06 $1351.34 $236.50 $235.38 $203.23

Here are the securities and the income amounts for June, 2019:

  • Vanguard Total Bond Market ETF: $40.29
  • Vanguard Total International Bond ETF: $11.37
  • RLI Corp: $23.19
  • SPDR S&P Dividend ETF: $626.86
  • Vanguard Utilities ETF: $204.89
  • SPDR Dow Jones REIT ETF: $260.03
  • SPDR S&P Global Dividend ETF: $1006.00
  • Money Market: $71.81

Big Jim likes the big payouts, and he likes them better when they are more predictable.

Painting of the Flight To Egypt by Guido of Siena (13th Century), assumed allowed under Fair Use.

I May Add More Short Posts

I may start adding more shorter posts soon.

I would like to write longer posts. It makes me look smart. But I do not have as much time to devote to this as I would like. Or watching television. Or lots of other things.

But the urge for self-expression remains. I have a lot of small comments in text files that have been piling up for years. I would like to clean up some part of my life. I do sometimes read articles online at work and jot down notes and thoughts; sometimes they are enough for an entire post. But I do have a backlog that I would like to clear up.

Also I could react to things more quickly. However, there still might be some posts about events from a few years ago.

Also it would be a chance to look at more artwork. I try to find a painting or illustration for each post (usually they have nothing to do with the content). I have been doing some research into art from centuries ago, and I would like to keep looking into it.

Plus, I can’t let Joshua Spodek use up all the good words.

Big Jim has a lot of stuff to talk about.

Image from the Syriac Bible of Paris, dated to the 6th or 7th century, file on Wikimedia, assumed allowed under Fair Use.

2019-05 Dividend Income Report

Here is the dividend income report for May, 2019.

The monthly dividend income came out to $150.95. The yearly income total for 2019 through the end of the month was $2006.71.

The income for May, 2018 was $44.66, and the yearly income for 2018 through the end of May was $1321.55.

I have sold some of my Vanguard ETFs and replaced them with State Street ETFs. I sold six and bought three. I hope they will all pay in C months and make my income more predictable.

As I was looking, I took a look at some of the iShares ETFs. I thought their expenses were rather high, considering how big they are. Then again, some of the State Street ETFs have high expense ratios as well. Higher than the unpredictable Vanguard. I wonder how expense ratios are calculated. Real Estate Select Sector SPDR Fund has an expense ratio of 0.13%, 33 holdings, $2.927 billion in assets, and 80.3 M shares. State Street’s other US real estate fund, SPDR Dow Jones REIT ETF has an expense ratio of 0.25%, 96 holdings, $2.373.3 billion in assets, and 24.1 M shares. (RWR has a higher dividend, so I think the higher expense ratio is worth it.) So their assets are not that far off, the more expensive one has more holdings, but the cheaper one has more than three times as many shares. Does a high share count lower the expense ratio?

I am looking at putting some REITs into my brokerage account. A couple that I am looking at pay monthly dividends. STAG Industrial has a lot of warehouses, which are becoming more important with online delivery. Blackstone just bought a logistics and warehouse company. LTC Properties, Inc. has a lot of seniors housing and health care properties, but their dividend has not increased since October 2016. Welltower is also into senior housing and health care, but they pay quarterly and they have also frozen their dividend. Ventas is also into senior housing and health care, they pay quarterly, and they have been increasing their dividend for nine years.

Another REIT that I am looking at is Easterly Government Properties, Inc. They buy buildings that are leased to federal agencies. They seem to like law enforcement. Rethuglicans always talk about cutting spending, but they never do it.

I am also looking at Gladstone Land Corporation. I am a bit on the fence about this one; I will have to look more into it. They buy farmland across the US, and they say they are still in acquisition mode. I hope so, because frankly it looks like they are doing it wrong. Their site says, “All our farms have abundant water sources”, yet they have a lot of farms in California, and two in Arizona, which are very dry, and a lot in Florida, which is Hurricane Central. They have only two in Michigan, and no others in the Midwest. For all the years I lived in Illinois, there were not that many tornadoes, and it has a lot of water. Right now I cannot access their investor relations page, so I cannot look at filings or listen to conference calls. I will try again later.

But seriously, farming in Arizona? Are you crazy?

Here is a table with the year-to-date amounts, the monthly amounts, and the three- and twelve-month moving averages for each May from 2011 through 2019:

Month YTD Amount 3MMA 12MMA
2019-05 $2006.71 $150.95 $592.51 $638.08
2018-05 $1321.55 $44.66 $398.51 $542.66
2017-05 $2346.62 $531.68 $553.90 $530.30
2016-05 $2059.52 $436.85 $479.79 $477.37
2015-05 $1803.11 $361.99 $411.92 $402.51
2014-05 $1411.19 $280.01 $304.77 $306.30
2013-05 $1141.24 $242.65 $260.91 $288.11
2012-05 $1268.97 $258.15 $257.13 $270.51
2011-05 $1114.84 $266.55 $233.03 $194.61

Here are the securities and the income amounts for May, 2019:

  • Vanguard Total Bond Market ETF: $40.47
  • Vanguard Total International Bond ETF: $10.71
  • Money Market: $99.77

Big Jim likes predictable income.

“Adoration of the Magi” by El Greco (1541 – 1614), file on Wikimedia, assumed allowed under Fair Use.

A Look At Global Aristocrats Index

The international index that I have picked is the S&P Global Dividend Aristocrats Index. Its ETF is the SPDR S&P Global Dividend ETF, WDIV.

The Global Dividend Aristocrats Index is based on the S&P Global BMI (Broad Market Index). Stocks in the Global BMI must have a market cap of at least USD $100 million, must meet liquidity standards (at least 20% of a stock’s market cap should be traded in a twelve-month period for stocks based in developed markets, 10% for emerging markets), be in a developed or emerging market, have at least 50% of their shares available for public trading, and it only includes common stocks (no fixed-dividend shares, closed-end funds, investment trusts, convertible bonds, unit trusts, equity warrants, mutual fund shares, limited partnerships, business development companies (BDCs) and no preferred stock with a guaranteed fixed return).

The S&P Global Dividend Aristocrats Index is weighted by yield. The criteria are:
– The stocks are taken from the S&P Global BMI (Broad Market Index)
– It includes stocks with market caps of at least USD $1 billion.
– Stocks have a maximum payout ratio of 100%, or not have a negative EPS
– Max yield of 10%
– The goal is for the index to contain 100 stocks (there are rules for what happens if less that 100 meet the criteria)
– No more than 20 stocks can come from one country (right now, US and Canada each have 20)
– Stocks must have increased or at least maintained their dividend for at least 10 years (since the index is weighted by yield, I do not know if a dividend grower would take priority over a dividend maintainer)

I assume one reason they include dividend maintainers is that raising dividends may not be as common in some countries. In many countries, companies do not pay a set amount every quarter like American companies do.

There is an S&P International Dividend Aristocrats Index. It is the Global Aristocrats Index without any US stocks. Its ETF, FID, has a high expense ratio of 0.60%. I find it odd that the ETF page on ETFDB does not have a link to the actual ETF. Even though it has a high ratio, the website looks cheap and does not inspire confidence. I find it odd that index providers do not license their indexes (or at least related indexes) to one firm. Or at least reputable firms. Frankly, I don’t trust anybody from Wheaton.

“S&P”, “Dividend Aristocrats”, and possibly a few other terms are trademarks of S&P Dow Jones Indices LLC.

Big Jim will invest his money with companies he thinks he can trust.

“Behold The Bridegroom” by Γύζης Νικόλαος (Nikolaos Gyzis) (1842 -1901), on exhibit at the National Gallery in Athens, assumed allowed under Fair Use.