I have finally $T (+1.69%) . The decision wasn’t based on a single quarter, but because $T (+1.69%) it failed to meet my criteria for a long-term dividend growth compounder. The stagnant dividend since the 2022 cut, the mixed capital allocation, and what I consider to be insufficient operational performance have reinforced my doubts about the long-term investment thesis.
Of course, it remains $T (+1.69%) an established telecommunications provider. For my portfolio, however, I’m looking for companies that sustainably increase their profits and dividends and use capital efficiently.
My most important portfolio lesson: A high dividend yield alone is not a sign of quality. What matters most are sustainable earnings growth, a reliable dividend track record, and disciplined capital allocation. I would like to invest the freed-up capital more selectively in companies that better align with my quality and dividend growth strategy. After all, sometimes part of a long-term strategy involves consistently selling a position when the investment thesis no longer holds.
~ Not investment advice ~
