2013 CCC Spreadsheet Equations & Definitions

last update: 3 April 2013

This page documents David Fish's 2013 "Dividend Champions, Contenders, & Challengers" (aka the "CCC") spreadsheet.
The most current spreadsheet is at www.dripinvesting.org/Tools.
Historical spreadsheets are at www.tessellation.com/david fish/index.html.

In the following section a formula of the form:

    = Xn / Bn

means to divide column X by column B. The "n" is the row number. Thus for row 7, the actual formula would be = X7 / B7 and for row 8, the actual formula would be = X8 / B8, and so forth.


ColumnContents
A Company|Name
Name: Company Name

Definition: The identity under which a company is incorporated.

B Ticker|Symbol
Name: Ticker Symbol

Definition: The stock symbol under the company's shares are traded.

C Industry
Name: Industry

Definition: The primary business that the company operates. Keep in mind that some companies operate in more than one industry, those that do business in several may be designated as 'conglomerates'.

D No.|Yrs
Name: Number of Years

Definition: Represents the number of consecutive years of higher dividends.

E CCC|Seq
Name: CCC Sequence

Definition: Lists all companies in sequence from longest (#1) to shortest, from Champions to Challengers.

F DRIP Fees|DR
Name: DRIP Dividend Reinvestment Fee

Definition: Indicates whether a company offers a Dividend Reinvestment Plan (DRIP) that charges a fee for Dividend Reinvestment.

G DRIP Fees|SP
Name: DRIP Dividend Reinvestment Fee

Definition: Indicates whether a company offers a Share Purchase Plan than charges a fee for investment.

H (date)|Price
Name: Share Price

Definition: Closing share price on the last trading day of the month.

I Div.|Yield
Name: Dividend Yield

Definition: Indicates the dividend yield of the latest dividend rate on an annualized basis.

Computed column: Divide the annual dividend by share price.
The spreadsheet formula is:
    =(Rn/Hn)*100

Most Recent Dividend Increase Information
   Dates in Green (centered) indicate increase (by Ex-Div. Date) expected in next 2 months
   Dates in Red (right aligned) indicate last increase more than a year ago (Ex-Div. Date)
J Quarterly Rate|Old
Name: Old Quarterly Rate Dividend

Definition: Previous quarterly dividend rate.

K Quarterly Rate|New
Name: New Quarterly Rate Dividend

Definition: The most recent dividend increase, not necessarily the most recent dividend to be declared.

L MR%|Inc.
Name: Most Recent Percent Increase

Definition: The most recent dividend increase as a percent.

Computed column: Divide the New Quarterly Rate by Old Quarterly Rate and covert to percent.
The spreadsheet formula is:
    =((Kn/Jn)-1)*100

Where:
  J is Old Quarterly Rate
  K is New Quarterly Rate
M Dividend Dates|Ex-Div
Name: Ex-Dividend Date

Definition: The first date following the declaration of a dividend on which the buyer of a stock is not entitled to receive the next dividend payment. Ex-Dividend Dates are always two trading days prior to the Record Date.

N Dividend Dates|Record
Name: Dividend Record Date

Definition: The date established by an issuer of a security for the purpose of determining the holders who are entitled to receive a dividend or distribution.

O Dividend Dates|Pay
Name: Dividend Pay Date

Definition: The date on which a declared stock dividend is scheduled to be paid.

P Qtly|Sch
Name: Quarterly Payment Schedule

Definition: Shows estimated pay dates, where
A=Jan/Apr/Jul/Oct
B=Feb/May/Aug/Nov
C=Mar/Jun/Sep/Dec

A trailing number indicates the approximate date of the quarterly dividend payment. Thus, C12 implies a dividend payment on 12 Mar, 12 Jun, 12 Sep and 12 Dec assuming that date is not a weekend or holiday.

Monthly dividend payments may be shown as "Mo".

Semi-Annual and Annual dividend payments may be listed with the months of payments... such as "JnDe" (for June and December) or "Dec" (for an annual payment in December).

Q Note
Name: Notes

Definition: Comments such as country, for example, "Can" for Canada. Or "ADR-India" indicating the stock is an American Depository Receipt for an Indian company.
Fundamental Data
   Disclaimer: Although all figures are thought to be correct, no guarantee is expressed, nor should any be implied.
R Annual|Dividend
Name: Annual Dividend.

Definition: Projects the "new" (current) dividend rate to a full-year amount.

Computed column: Multiply the New Quarterly Rate by N
Where N is the appropriate multiplier (12 : monthly; 4 : quarterly; 2 : semi-annual; 1 : annual)

The spreadsheet formula is:
    =Kn*N

Where:
  K is New Quarterly Rate
S EPS%|Payout
Name: Dividend Payout Rate as a percent of Earnings Per Share

Definition: Calculates the annual dividend as a percentage of the Earnings Per Share (Trailing Twelve Months).

Computed column: Divide the Annual Dividend by Earnings Per Share (TTM) and covert to percent.

The spreadsheet formula is:
    =IF(Xn<0;"n/a";Rn/Xn*100)

Where:
  R is Annual Dividend
  X is EPS (TTM)
T FCF%|Payout
Name: Dividend Payout Rate as a percent of Free Cash Flow Per Share

Definition: Calculates the annual dividend as a percentage of the Free Cash Flow (Trailing Twelve Months) per share.

Computed column: Multiply the Dividend Yield by Price per Free Cash Flow (TTM).

The spreadsheet formula is:
    =IF(ABn="n/a";"n/a";In*ABn)

Where:
  I is Dividend Yield
  AB is P/FCF (TTM)
U +/-% vs.|Graham
Name: Price as a Premium or Discount to the Graham Number

Definition: Computes the premium or discount that the current price represents, compared with the "Graham number", which is an estimation of "fair value" or what Benjamin Graham said would be the most an investor should pay for a share of the company's stock. Since he believed that a reasonable price/earnings ratio was 15 and a reasonable price/book value ratio would be 1.5, the formula for the "Graham number" is the square root of (22.5 x eps x bvps) where:

eps ::= earnings / share
bvps ::= bookvalue / share

bvps is computed by dividing the Price/Book value ratio into the current price.

The actual "Graham number" is not shown, but is divided into the current price in order to produce a premium or discount percentage compared with the "Graham number."

Computed column: Divide the New Quarterly Rate by Old Quarterly Rate and covert to percent.

The spreadsheet formula is:
    =IF(Xn<0;"n/a";IF(AAn="n/a";"n/a";(Hn/SQRT(22.5*Xn*(Hn/AAn))-1)*100))

Where:
  H is Price
  X is EPS (TTM)
  AA is P/Book (MRQ)
V TTM|P/E
Name: Price Earnings Ratio (for the Trailing Twelve Months)

Definition: Shows the price/earnings ratio using the trailing twelve months divided into the current price.

Computed column: Divide the Current Price by Earnings Per Share (TTM) and covert to percent.

The spreadsheet formula is:
    =IF(Xn<0;"n/a";Hn/Xn)

Where:
  H is Price
  X is EPS (TTM)
Data Sources
   Column letters for data values taken from FinViz.com's Quote page (http://finviz.com) are shown in blue.
   Column letters for data values taken from Yahoo Finance's Key Statistics page (http://finance.yahoo.com) are shown in green.
W FYE|Month
Name: Month Fiscal Year Ends

Definition: The month for the end of the company's fiscal year (12 = December).
X TTM|EPS
Name: Earnings Per Share (for the Trailing Twelve Months)

Definition: The earnings per share (eps) for the most recently reported trailing twelve months (ttm).
Y PEG|Ratio
Name: Price-Earnings-Growth Ratio

Definition: The price earnings ratio (p/e) divided by the 5-year estimated growth rate.
Z TTM|P/Sales
Name: Price per Sales Ratio (for the Trailing Twelve Months)

Definition: The current price divided by sales for the Trailing Twelve Months (TTM).
AA MRQ|P/Book
Name: Most Recent Quarter Price per Book Value Ratio

Definition: The current price divided by the most recent quarter's book value per share (bvps).
AB TTM|P/FCF
Name: Price per Free Cash Flow (for the Trailing Twelve Months)

Definition: The current price divided by the trailing twelve months' free cash flow.
AC TTM|ROE
Name: Rate of Return on Shareholder Equity (for the Trailing Twelve Months)

Definition: The trailing twelve months' rate of return on shareholder equity.
AD TY%|Growth
Name: This Years Percent Earnings Change

Definition: The percentage change of this year's earnings estimate compared with last year's earnings per share.
AE NY%|Growth
Name: Next Years Percent Earnings Change

Definition: The percentage change of next year's earnings estimate compared with this year's earnings per share.
AF Est 5-yr|Growth
Name: The Estimated 5 Year Earnings Per Share Growth

Definition: The estimated annual earnings per share for the next five years.
AG N|A
Name: The Number of Analysts covering the company

Definition: The percentage change of this year's earnings estimate compared with last year's earnings per share.
AH MktCap|($Mil)
Name: The Market Share of all Oustanding Shares

Definition: The market value in millions of dollars of all outstanding shares at the current share price.
AI Inside|Own.
Name: Insider Ownership

Definition: The percentage of outstanding shares owned by founders, executives, and directors.
AJ Debt/|Equity
Name: The Debt-Equity Ratio

Definition: The proportion of capitalization provided by debt in relation to shareholder equity.
Dividends Paid by Year
   (excluding Special/Extra Dividends)
   *A/D=Acceleration/Deceleration (5-year average increase divided by 10-year average increase)
   **DGR=Dividend Growth Rate
AK 5/10|A/D*
Name: Five year, Ten year DGR Ratio

Definition: Calculates the acceleration or deceleration of the 5-year vs. the 10-year Dividend Growth Rate.

Computed column: Divide the 5-Year Dividend Growth Rate by 10-Year Dividend Growth Rate.

The spreadsheet formula is:
    =ANn/AOn

Where:
  AN is 5-Year Dividend Growth Rate
  AO is 10-Year Dividend Growth Rate
AL DGR**|1-yr
Name: One Year Dividend Growth Rate

Definition: The one year dividend compound annual growth rate.

Computed column: Compute the compound annual growth rate of the dividend using the Dividends for 2012 and 2011.

The spreadsheet formula is:
    =((AQn/ARn)^(1/1)-1)*100

Where:
  AQ is 2012 Annual Dividend
  AR is 2011 Annual Dividend
AM DGR**|3-yr
Name: Three Year Dividend Growth Rate

Definition: The three year dividend compound annual growth rate.

Computed column: Compute the compound annual growth rate of the dividend using the Dividends for 2012 and 2009.

The spreadsheet formula is:
    =((AQn/AUn)^(1/3)-1)*100

Where:
  AQ is 2012 Annual Dividend
  AU is 2009 Annual Dividend
AN DGR**|5-yr
Name: Five Year Dividend Growth Rate

Definition: The five year dividend compound annual growth rate.

Computed column: Compute the compound annual growth rate of the dividend using the Dividends for 2012 and 2007.

The spreadsheet formula is:
    =((AQn/AWn)^(1/5)-1)*100

Where:
  AQ is 2012 Annual Dividend
  AW is 2007 Annual Dividend
AO DGR**|10-yr
Name: Ten Year Dividend Growth Rate

Definition: The ten year dividend compound annual growth rate.

Computed column: Compute the compound annual growth rate of the dividend using the Dividends for 2012 and 2002.

The spreadsheet formula is:
    =((AQn/BBn)^(1/10)-1)*100

Where:
  AQ is 2012 Annual Dividend
  BB is 2002 Annual Dividend
Data Column notes:
   Column to the right excludes amount normally paid in the following year but accelerated, to be included next year
   Dividend amounts in Red indicate no increase during year
AP #
Name: Accelerated Dividend

Definition: Column to the right excludes amount normally paid in the following year but accelerated, to be included next year.
AQ 2012
Name: Annual Dividend for 2012

Definition: The annual per share dividend for the named year.
AR 2011
Name: Annual Dividend for 2011

Definition: The annual per share dividend for the named year.
AS #
Name: Accelerated Dividend

Definition: Column to the right excludes amount normally paid in the following year but accelerated, to be included next year.
AT 2010
Name: Annual Dividend for 2010

Definition: The annual per share dividend for the named year.
AU 2009
Name: Annual Dividend for 2009

Definition: The annual per share dividend for the named year.
AV 2008
Name: Annual Dividend for 2008

Definition: The annual per share dividend for the named year.
AW 2007
Name: Annual Dividend for 2007

Definition: The annual per share dividend for the named year.
AX 2006
Name: Annual Dividend for 2006

Definition: The annual per share dividend for the named year.
AY 2005
Name: Annual Dividend for 2005

Definition: The annual per share dividend for the named year.
AZ 2004
Name: Annual Dividend for 2004

Definition: The annual per share dividend for the named year.
BA 2003
Name: Annual Dividend for 2003

Definition: The annual per share dividend for the named year.
BB 2002
Name: Annual Dividend for 2002

Definition: The annual per share dividend for the named year.
BC 2001
Name: Annual Dividend for 2001

Definition: The annual per share dividend for the named year.
BD 2000
Name: Annual Dividend for 2000

Definition: The annual per share dividend for the named year.
BE 1999
Name: Annual Dividend for 1999

Definition: The annual per share dividend for the named year.
Percentage Increase by Year
BF 2012|vs.|2011
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(ARn=0;0;IF(ARn>AQn;0;((AQn/ARn)-1)*100))

Where:
  AQ is 2012 Annual Dividend
  AR is 2011 Annual Dividend
BG 2011|vs.|2010
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(ATn=0;0;IF(ATn>ARn;0;((ARn/ATn)-1)*100))

Where:
  AR is 2011 Annual Dividend
  AT is 2010 Annual Dividend
BH 2010|vs.|2009
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(AUn=0;0;IF(AUn>ATn;0;((ATn/AUn)-1)*100))

Where:
  AT is 2010 Annual Dividend
  AU is 2009 Annual Dividend
BI 2009|vs.|2008
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(AVn=0;0;IF(AVn>AUn;0;((AUn/AVn)-1)*100))

Where:
  AU is 2009 Annual Dividend
  AV is 2008 Annual Dividend
BJ 2008|vs.|2007
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(AWn=0;0;IF(AWn>AVn;0;((AVn/AWn)-1)*100))

Where:
  AV is 2008 Annual Dividend
  AW is 2007 Annual Dividend
BK 2007|vs.|2006
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(AXn=0;0;IF(AXn>AWn;0;((AWn/AXn)-1)*100))

Where:
  AW is 2007 Annual Dividend
  AX is 2006 Annual Dividend
BL 2006|vs.|2005
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(AYn=0;0;IF(AYn>AXn;0;((AXn/AYn)-1)*100))

Where:
  AX is 2006 Annual Dividend
  AY is 2005 Annual Dividend
BM 2005|vs.|2004
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(AZn=0;0;IF(AZn>AYn;0;((AYn/AZn)-1)*100))

Where:
  AY is 2005 Annual Dividend
  AZ is 2004 Annual Dividend
BN 2004|vs.|2003
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(BAn=0;0;IF(BAn>AZn;0;((AZn/BAn)-1)*100))

Where:
  AZ is 2004 Annual Dividend
  BA is 2003 Annual Dividend
BO 2003|vs.|2002
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(BBn=0;0;IF(BBn>BAn;0;((BAn/BBn)-1)*100))

Where:
  BA is 2003 Annual Dividend
  BB is 2002 Annual Dividend
BP 2002|vs.|2001
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(BCn=0;0;IF(BCn>BBn;0;((BBn/BCn)-1)*100))

Where:
  BB is 2002 Annual Dividend
  BC is 2001 Annual Dividend
BQ 2001|vs.|2000
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(BDn=0;0;IF(BDn>BCn;0;((BCn/BDn)-1)*100))

Where:
  BC is 2001 Annual Dividend
  BD is 2000 Annual Dividend
BR 2000|vs.|1999
Name: Percent Dividend Increase Over Previous Year

Definition: The percentage dividend increase compared with the dividend paid in the previous year.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =IF(BEn=0;0;IF(BEn>BDn;0;((BDn/BEn)-1)*100))

Where:
  BD is 2000 Annual Dividend
  BE is 1999 Annual Dividend
BS Mean|(simple|average)
Name: Mean Dividend Increase

Definition: Mean Dividend Increase is the "modified" average of the individual year's increases over the prior year. The averages include some companies whose average has been "modified" to exclude divisions by zero or negative actions (reductions) since those calculations would pre-date the companies' current streaks of increases.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =AVERAGE(BFn;BRn)

Where:
  BF is 2012 vs 2011 Dividend Percent Increase
  BR is 2000 vs 1999 Dividend Percent Increase
BT Standard|Deviation
Name: Standard Deviation

Definition: Standard Deviation expresses the degree by which the individual year's increases vary from the Mean, or simple average, showing how erratic (high number) or "smooth" (low number) that the annual increases have been.

Computed column: Compute One Year's Dividend by the Previous Year's Dividend and convert to percent.

The spreadsheet formula is:
    =SQRT(AVERAGE(( BGn-$BSn)^2;( BHn-$BSn)^2;( BIn-$BSn)^2;( BJn-$BSn)^2;( BKn-$BSn)^2;( BLn-$BSn)^2;( BMn-$BSn)^2;( BNn-$BSn)^2;( BOn-$BSn)^2;( BPn-$BSn)^2;( BQn-$BSn)^2;( BRn-$BSn)^2))

Where:
  BG is 2011 vs 2010 Dividend Percent Increase
  BH is 2010 vs 2009 Dividend Percent Increase
  BI is 2009 vs 2008 Dividend Percent Increase
  BJ is 2008 vs 2007 Dividend Percent Increase
  BK is 2007 vs 2006 Dividend Percent Increase
  BL is 2006 vs 2005 Dividend Percent Increase
  BM is 2005 vs 2004 Dividend Percent Increase
  BN is 2004 vs 2003 Dividend Percent Increase
  BO is 2003 vs 2002 Dividend Percent Increase
  BP is 2002 vs 2001 Dividend Percent Increase
  BQ is 2001 vs 2000 Dividend Percent Increase
  BR is 2000 vs 1999 Dividend Percent Increase
  BS Simple Average of the Percent of Annual Dividend Increases
BU Sector
Name: Economic Sector

Definition: A sector is the major part of the economy within which the company operates. Each sector is composed of numerous sub-groups, referred to as Industries.
Special Formulas
   (see Notes Tab)
BV Tweed|Factor
Name: Tweed Factor

Definition: Named after "Seeking Alpha" author Norman Tweed, this is a "quick-and-dirty" method of comparing the combination of a stock's dividend yield and dividend growth rate (DGR) to its price/earnings ratio. Although this is somewhat of an "apples-to-oranges" comparison, it builds in a margin of safety when determining a stock's fair value. The Tweed Factor is part of the "Tweed Model," which also requires (per Mr. Tweed) a 4% yield and a "reasonable" payout ratio. (See Payout % Ratio above.) Other investors may set a lower yield threshold than 4%, often in conjunction with age and years remaining to invest. The more positive the Tweed Factor is, the better, as it expresses the excess of the dividend data over price level.

Computed column: Add Dividend Yield , 5-year Dividend Growth Rate subtract TTM P/E.

The spreadsheet formula is:
    =IF(ANn="n/a";"n/a";IF(Vn<0;"n/a";IF(Vn="n/a";"n/a";In+ANn-Vn)))

Where:
  I is Dividend Yield
  V is P/E (TTM)
  AN is 5-year Dividend Growth Rate
BW Chowder|Rule
Name: Chowder Rule

Definition: Named after "Seeking Alpha" member Chowder, this is a method of identifying candidates for purchase based on a combination of yield and (5-year) dividend growth rate. When the sum of these elements is above 12%, the company presents an attractive entry point (8% for utilities). When the figure is above 8%, an existing holding is still considered worthy of being retained. Caution: This 'Rule" is intended to be used in conjunction with measures of quality, such as high marks for safety and financial stability, as specified by organizations such as Value Line or Morningstar.

Computed column: Add Dividend Yield to 5-year Dividend Growth Rate.

The spreadsheet formula is:
    =IF(ANn="n/a";"n/a";In+ANn)

Where:
  I is Dividend Yield
  AN is 5-year Dividend Growth Rate
BX Confid.|Factor
Name: Confidence Factor

Definition: Confidence Factor Scoring System
Listed below are items used to gauge confidence in continuation of dividend-increase streaks, with formulas and point ranges.

ItemGeneral FormulaMinMaxCol

Number of Years Dividend IncreaseDivided by 100.505.80D
Sequence Number within CCC companies(500 minus Seq) divided by 1000.504.99E
Dividend Reinvestment PlanNo-fee=2 points; Fees=1; No plan=00.002.00F
Stock Purchase PlanNo-fee=2 points; Fees=1; No plan=00.002.00G
Most Recent Increase (percentage)Increase divided by 2, up to 5 points0.005.00L
Payout Ratio (if not over 100% or negative)(100 minus payout ratio) divided by 100.0010.00S
Price/Earnings Ratio (if not over 100% or negative)(100 minus payout ratio) divided by 100.0010.00V
PEG (P/E divided by Growth Rate) Ratio (if numerical)5 minus PEG (up to 5)0.005.00Y
Price/Sales Ratio5 minus P/S (up to 5)0.005.00Z
Price/Book Value (if numerical)5 minus P/B (up to 5)0.005.00AA
This Year EPS Est Percentage Increase vs. TTM EPSUp to 10% Increase divided by 20.005.00AD
Next Year EPS Est Percentage Increase vs. TY EPS EstUp to 10% Increase divided by 20.005.00AE
Est 5-year EPS Percentage IncreaseUp to 10% Increase divided by 20.005.00AF
Number of AnalystsNumber Divided by 100.004.90AG
Market CapitalizationPoints for one, ten, one hundred billion0.003.00AH
Dividend Growth Rate 1-yearUp to 10% Increase divided by 20.005.00AL
Dividend Growth Rate 3-year (if numeric)Up to 10% Increase divided by 20.005.00AM
Dividend Growth Rate 5-year (if numeric)Up to 10% Increase divided by 20.005.00AN
Dividend Growth Rate 10-year (if numeric)Up to 10% Increase divided by 20.005.00AO
Mean (Simple Average)Up to 10% Increase divided by 20.005.00BS

Total Point Range: 1.00102.69


Computed column: Sum the individual confidence factors.

The spreadsheet formula is:
    =Dn/10
    +(500-
En)/100
    +IF(
Fn="N";2;IF(Fn="Y";1;0))
    +IF(
Gn="N";2;IF(Gn="Y";1;0))
    +IF(
Ln>10;5;Ln/2)
    +IF(
Sn>100;0;IF(Sn<0;0;(100-Sn)/10))
    +IF(
Vn>100;0;IF(Vn<0;0;(100-Vn)/10))
    +IF(
Yn="-";0;IF(Yn="N/A";0;IF(Yn>5;0;5-Yn)))
    +IF(
Zn>5;0;5-Zn)
    +IF(
AAn="N/A";0;IF(AAn>5;0;5-AAn))
    +IF(
ADn<0;0;IF(ADn="-";0;IF(ADn="N/A";0;IF(ADn>10;5;ADn/2))))
    +IF(
AEn="n/a";0;IF(AEn<0;0;IF(AEn>10;5;AEn/2)))
    +IF(
AFn="n/a";0;IF(AFn<0;0;IF(AFn>10;5;AFn/2)))
    +
AGn/10
    +IF(
AHn>100000;3;IF(AHn>10000;2;IF(AHn>1000;1;0)))
    +IF(
ALn>10;5;ALn/2)
    +IF(
AMn="n/a";0;IF(AMn>10;5;AMn/2))
    +IF(
ANn="n/a";0;IF(ANn>10;5;ANn/2))
    +IF(
AOn="n/a";0;IF(AOn<0;0;IF(AOn>10;5;AOn/2)))
    +IF(
BSn>10;5;BSn/2)

Where:
  columns are defined in the previous table.
Dividend Growth Model
   (based on Earnings Estimates, if available)
   Past Performance is No Guarantee of Future Resuls
BY Estimated Dividends to be Paid in Year|2013
Name: 2013 Est Dividends

Definition: Dividends based on growth from latest completed year of dividends paid, using the "This Year Growth Rate".
(If the rate is "n/a," then a 3% dividend growth rate is used; if the rate is negative, then a 1% dividend growth rate is used; if the rate is greater than 10%, then a 10% dividend growth rate is used.)

Computed column: Estimate annual divide for the named year.

The spreadsheet formula is:
    =IF(ADn="n/a";1.03*AQn;
    IF(
ADn<0;1.01*AQn;
    IF(
ADn>10;1.1*AQn;(1+ADn/100)*AQn)))

Where:
  AD is This Years Percent Earnings Change
  AQ is Annual Dividend for 2012
BZ Estimated Dividends to be Paid in Year|2014
Name: 2014 Est Dividends

Definition: Dividends based on growth from previously estimated year of dividends paid, using the "Next Year Growth Rate".
(If the rate is "n/a," then a 3% dividend growth rate is used; if the rate is negative, then a 1% dividend growth rate is used; if the rate is greater than 10%, then a 10% dividend growth rate is used.)

Computed column: Estimate annual divide for the named year.

The spreadsheet formula is:
    =IF($AEn="n/a";1.03*BYn;
    IF(
$AEn<0;1.01*BYn;
    IF(
$AEn>10;1.1*BYn;(1+$AEn/100)*BYn)))

Where:
  AE is Next Years Estimated Percent Earnings Change
  BY is Estimated Annual Dividend for 2013
CA Estimated Dividends to be Paid in Year|2015
Name: 2015 Est Dividends

Definition: Dividends based on growth from previously estimated year of dividends paid, using the "Estimated 5-year Growth Rate".
(If the rate is "n/a," then a 3% dividend growth rate is used; if the rate is negative, then a 1% dividend growth rate is used; if the rate is greater than 10%, then a 10% dividend growth rate is used.)

Computed column: Estimate annual divide for the named year.

The spreadsheet formula is:
    =IF($AFn="n/a";1.03*BZn;
    IF(
$AFn<0;1.01*BZn;
    IF(
$AFn>10;1.1*BZn;(1+$AFn/100)*BZn)))

Where:
  AF is 5-Year Estimated Percent Earnings Rate
  BZ is Estimated Annual Dividend for 2014
CB Estimated Dividends to be Paid in Year|2016
Name: 2016 Est Dividends

Definition: Dividends based on growth from previously estimated year of dividends paid, using the "Estimated 5-year Growth Rate".
(If the rate is "n/a," then a 3% dividend growth rate is used; if the rate is negative, then a 1% dividend growth rate is used; if the rate is greater than 10%, then a 10% dividend growth rate is used.)

Computed column: Estimate annual divide for the named year.

The spreadsheet formula is:
    =IF($AFn="n/a";1.03*CAn;
    IF(
$AFn<0;1.01*CAn;
    IF(
$AFn>10;1.1*CAn;(1+$AFn/100)*CAn)))

Where:
  AF is 5-Year Estimated Percent Earnings Rate
  CA is Estimated Annual Dividend for 2015
CC Estimated Dividends to be Paid in Year|2017
Name: 2017 Est Dividends

Definition: Dividends based on growth from previously estimated year of dividends paid, using the "Estimated 5-year Growth Rate".
(If the rate is "n/a," then a 3% dividend growth rate is used; if the rate is negative, then a 1% dividend growth rate is used; if the rate is greater than 10%, then a 10% dividend growth rate is used.)

Computed column: Estimate annual divide for the named year.

The spreadsheet formula is:
    =IF($AFn="n/a";1.03*CBn;
    IF(
$AFn<0;1.01*CBn;
    IF(
$AFn>10;1.1*CBn;(1+$AFn/100)*CBn)))

Where:
  AF is 5-Year Estimated Percent Earnings Rate
  CB is Estimated Annual Dividend for 2016
CD 5-year Total|Est. Payback|$
Name: Estimated 5 Year Dividends

Definition: The total estimated dividends per share for the next five years.

Computed column: Sum of the five annual estimates.

The spreadsheet formula is:
    =SUM(BYn:CCn)

Where:
  BY is Estimated Annual Dividend for 2013
  CC is Estimated Annual Dividend for 2017
CE 5-year Total|Est. Payback|%
Name: Estimated 5 Year Dividend Return

Definition: The total estimated dividends per share for the next five years as "payback," based on the current share price.

Computed column: Ratio of the Estimated 5 Year Dividend and the Current Price converted to a percentage.

The spreadsheet formula is:
    =(CDn/Hn)*100

Where:
  CD is Estimated 5-year Dividend Payback
  H is Price
Technical Data
   MMA = Moving Market Average
   Column letters for data values taken from FinViz.com's Quote page (http://finviz.com) are shown in blue.
CF 5-yr|Beta
Name: Five Year Beta

Definition: Compares a stock's volatility with that of the overall market (S&P 500=1.00).
CG Current Price as % from:|52-wk|Low
Name: Delta % from 52 Week Low

Definition: The percentage that the current price varies from the 52-week low of the stock.
CH Current Price as % from:|52-wk|High
Name: Delta % from 52 Week High

Definition: The percentage that the current price varies from the 52-week high of the stock.
CI Current Price as % from:|50-day|MMA
Name: Delta % from 50 Day Moving Market Average

Definition: The percentage the current price varies from the 50-day Moving Average.
CJ Current Price as % from:|200-day|MMA
Name: Delta % from 200 Day Moving Market Average

Definition: The percentage the current price varies from the 200-day Moving Average.