Effective September 30, 2026
These disclosures apply to everything The Dividend Record publishes: the free weekly letter, The Dividend Record Portfolio, The Quarterly Draft, this website, and every email we send. Please read them before you use anything we publish.
On this page, "The Dividend Record," "we," "us" and "our" mean the publication and its publisher acting in that role.
The Dividend Record is a financial publisher. We are not registered as an investment adviser, broker-dealer, or investment company with the U.S. Securities and Exchange Commission, FINRA, or any state securities regulator, and we do not hold ourselves out as one.
We publish general, impersonal, educational commentary on a regular schedule, under the publisher's exclusion from the definition of investment adviser in Section 202(a)(11)(D) of the Investment Advisers Act of 1940, as recognized by the Supreme Court in Lowe v. SEC, 472 U.S. 181 (1985).
We do not know your income, your savings, your taxes, your goals, or how much risk you can carry. What we publish is written for a general audience and is the same for every reader.
We do not answer questions about your own portfolio or tell any reader what to buy, hold or sell. Replies to our emails are welcome, and we read them, but we will not respond with advice about your investments.
Nothing we publish is investment, financial, tax, accounting or legal advice, a recommendation, or an offer or solicitation to buy or sell any security. Before you act on anything you read here, consider your own situation and speak with a qualified professional who does know it.
Because we publish general commentary, we have no adviser relationship with you and no fiduciary duty to you. You make your own decisions, and you are responsible for them.
The Dividend Record Portfolio is a model list of 25 dividend paying stocks, equally weighted and refreshed four times a year, in February, May, August and November. It is published to every subscriber in the same form. A subscription does not open an account of any kind. The Dividend Record does not manage money for its readers and does not place trades for them.
A model does not reflect the costs, taxes, timing and prices that a real investor would face. Your results from any similar approach would differ from the model, and could be worse.
Any performance figure we show for the Portfolio or its method is hypothetical. Unless we say otherwise in the same place, it is backtested, meaning it was calculated after the fact by applying a method to past data.
Backtested results have real limits. They benefit from hindsight. They assume trades filled at prices that may not have been available. They usually leave out commissions, spreads, taxes and the effect of investor behavior. They do not show how any real person would have done. We label every performance figure as hypothetical or model, and we state the time period it covers.
Past performance, whether real or hypothetical, does not guarantee future results. A long record of dividend payments or raises does not guarantee that the next payment will be made.
All investing involves risk, including the loss of the money you invest. Stock prices fall as well as rise. Companies reduce, suspend and eliminate dividends. A portfolio of 25 stocks is concentrated, and a model that holds only dividend paying companies can lag the broader market for long periods.
The Portfolio changes only on its published quarterly dates. We do not send buy or sell alerts between those dates.
If a company in the Portfolio cuts, suspends or eliminates its dividend, or is acquired or merged, we may send subscribers a short factual notice. That notice reports what the company did. It does not tell you to take any action.
The publisher and its writers may own securities we discuss, including companies in the Portfolio, and may buy or sell them at any time.
The Dividend Record does not accept payment from any company to write about it or to include it in the Portfolio.
Our figures come from company filings, company announcements and other public sources we believe to be reliable, along with our own arithmetic. We cannot guarantee that any of it is complete, current or free of error, and figures can change after we publish. Check anything important against the original source before you rely on it.
Anything we write about what a company, a dividend or a market might do in the future is an opinion based on information available at the time. Actual results often differ.
Questions about these disclosures can go to [email protected].
One dividend company examined every Wednesday, in about five minutes. Free, and you can leave at any time.
Educational and informational only. Not investment, financial or tax advice, and not a recommendation to buy or sell any security. Past performance does not guarantee future results.