The only value strategy that lacks statistical significance in Table 3 is the strategy
defined by dividend yield.
Not exact matches
Shareholder
yield has been
defined differently
by different analysts, but Faber
defines it as a combination of (a) cash
dividends, (b) net share repurchases and (c) debt repayment.
BMO
defines portfolio
yield as «the most recent income received
by the ETF in the form of
dividends, interest and other income annualized based on the payment frequency divided
by the current market value of ETF's investments.»
The net payout
yield goal for the strategy is 8 %,
defined by the amount a company spends on stock buybacks and
dividends as a percentage of its stock price (adjusted for the amount a company receives for issuing new stock).