dividend investing - Ceta Research

Dividend coverage CAGR by exchange from 2000 to 2025. India leads at 17.29%, followed by Germany at 12.52% and US at 11.40%. Seven of thirteen exchanges beat the S&P 500 benchmark of 7.85%.

dividend investing

One Dividend Screen, 13 Exchanges: Where Cash-Backed Dividends Beat the Market

We ran the same FCF-based dividend coverage screen across 13 global exchanges. Seven beat the S&P 500. India produced 17.29% CAGR. The screen works best where dividend culture runs deep.

Growth of $10,000 invested in Dividend Coverage US vs S&P 500 from 2000 to 2025. Coverage grew to $149K, S&P 500 to $66K.

dividend investing

Dividend Coverage: Screening for Cash-Backed Dividends on 25 Years of US Data

We screened US stocks for companies whose free cash flow comfortably covers dividend payments. 11.40% CAGR over 25 years vs 7.85% for the S&P 500. Zero cash periods.

Growth of $1 invested in dividend growth screen vs S&P 500 from 2000 to 2025 on US exchanges.

dividend investing

Dividend Growth Screen: 7.96% CAGR With Half the Drawdown (25-Year Backtest)

We backtested a dividend growth screen (5+ consecutive years of increases with quality filters) across 25 years of US stock data. 7.96% CAGR, matching the S&P 500 with 24% better Sharpe and 50% down capture.

Growth of $10,000 invested in Dividend Sustainability Australia vs ASX 200 from 2000 to 2025.

dividend investing

Dividend Sustainability on Australian Stocks: 5.96% CAGR, +2.07% Over ASX 200

A 5-factor dividend sustainability score backtested on ASX from 2000-2025. 5.96% CAGR, +2.07% annual excess over ASX 200, 64% win rate. Lowest volatility in our global comparison at 14.48%.

Growth of $10,000 invested in Dividend Sustainability Canada vs TSX Composite from 2000 to 2025.

dividend investing

Dividend Sustainability on Canadian Stocks: 9.54% CAGR Over 25 Years

The dividend sustainability screen on TSX stocks returned 9.54% CAGR over 25 years with 5.59% annual excess over the TSX Composite. 72% win rate vs local benchmark, 21.6% down capture.

Growth of $10,000 invested in Dividend Sustainability China vs SSE Composite from 2000 to 2025.

dividend investing

Dividend Sustainability on Chinese Stocks: 6.66% CAGR, +4.23% Over SSE Composite

A 5-factor dividend sustainability score backtested on Shanghai and Shenzhen from 2000-2025. 6.66% CAGR, +4.23% annual excess over SSE Composite, 76% win rate vs local benchmark. High volatility (31.66%) is the main cost.

Dividend sustainability CAGR vs local benchmark by exchange, 2000-2025. India 15.81%, US 12.03%, Germany 11.53%. 12 of 13 beat their local market index.

dividend investing

One Sustainability Score, 13 Exchanges: 12 of 13 Beat Their Local Market Index

We scored dividend stocks across 13 exchanges on five dimensions: payout, leverage, FCF coverage, ROE, and Piotroski F-Score. 12 of 13 beat their local market index. India led at 15.81% CAGR (NSE), +3.75% above the Sensex. Germany had a 0.613 Sharpe. Korea was the only miss, trailing the KOSPI...

Growth of $10,000 invested in Dividend Sustainability Germany vs DAX from 2000 to 2025.

dividend investing

Dividend Sustainability on German Stocks: 11.53% CAGR Over 25 Years

The dividend sustainability screen on XETRA stocks returned 11.53% CAGR with a 0.613 Sharpe ratio and 6.49% annual excess over the DAX. Down capture of just -6.7% vs the local benchmark.

Growth of $10,000 invested in Dividend Sustainability Hong Kong vs Hang Seng from 2000 to 2025.

dividend investing

Dividend Sustainability on Hong Kong Stocks: 6.50% CAGR, +4.86% Over Hang Seng

A 5-factor dividend sustainability score backtested on HKSE from 2000-2025. 6.50% CAGR, +4.86% annual excess over the Hang Seng Index, 60% win rate. The screen consistently beat Hong Kong's own market over 25 years.

Growth of $10,000 invested in Dividend Sustainability India (NSE) vs Sensex from 2000 to 2025, reaching roughly $390K.

dividend investing

Dividend Sustainability on Indian Stocks (NSE): 15.81% CAGR Over 25 Years

The dividend sustainability screen on NSE stocks returned 15.81% CAGR over 25 years with 3.75% annual excess over the Sensex. Down capture of -13.3% means the strategy gained on average during market declines.

Growth of $10,000 invested in Dividend Sustainability Japan vs Nikkei 225 from 2000 to 2025.

dividend investing

Dividend Sustainability on Japanese Stocks: 6.70% CAGR, +3.39% Over the Nikkei

A 5-factor dividend sustainability score backtested on JPX from 2000-2025. 6.70% CAGR, +3.39% annual excess over the Nikkei 225, 64% win rate vs local benchmark. Six cash years limited the absolute number, but the screen consistently beat Japan's own market.

Growth of $10,000 invested in Dividend Sustainability Sweden vs OMX Stockholm 30 from 2000 to 2025.

dividend investing

Dividend Sustainability on Swedish Stocks: 10.15% CAGR Over 25 Years

The dividend sustainability screen on Stockholm stocks returned 10.15% CAGR over 25 years with 7.59% annual excess over the OMX Stockholm 30. Explosive upside (+52.6% in 2006, +49.0% in 2020) with 80% win rate vs local benchmark.