Holdings by Sector - Wells Fargo Advisors

June 2, 2022 Joseph E. Buffa, Equity Sector Analyst

Jack Russo, Equity Sector Analyst Global Securities Research

Diversified Stock Income Plan

Holdings by Sector

Diversified Stock Income Plan Overview

The DSIP List (Diversified Stock Income Plan List) focuses on companies that we believe will provide consistent annual dividend growth over a long-term investment horizon. Our objective is to provide a broad list of high quality, industry leading companies from which an investor can assemble a well-diversified portfolio. Through consistent dividend growth, our goal is to help investors stay ahead of the wealth eroding effects of inflation.

Diversified Stock Income Plan Holdings Statistics

Company Communication Services (average) Comcast Corp. Verizon Communications, Inc. Consumer Discretionary The Home Depot, Inc. Lowe's Cos., Inc. McDonald's Corp. NIKE, Inc. Starbucks Corp. Target Corp. Tractor Supply Co. VF Corp. Consumer Staples Brown-Forman Corp. Church & Dwight Co., Inc. The Clorox Co. Colgate-Palmolive Co. Costco Wholesale Corp. The J. M. Smucker Co. McCormick & Co., Inc. Mondelez International, Inc. PepsiCo, Inc. Procter & Gamble Co. Walmart, Inc. Energy Phillips 66 Financials Aflac, Inc. BlackRock, Inc. Brown & Brown, Inc. Chubb Ltd. Commerce Bancshares, Inc. (Missouri) FactSet Research Systems, Inc. Intercontinental Exchange, Inc. S&P Global, Inc. T. Rowe Price Group, Inc. DSIP Average1 S&P 500

Symbol N/A CMCSA VZ N/A HD LOW MCD NKE SBUX TGT TSCO VFC N/A BF.B CHD CLX CL COST SJM MKC MDLZ PEP PG WMT N/A PSX N/A AFL BLK BRO CB CBSH FDS ICE SPGI TROW

N/A SP50

Price N/A $43.93 $51.40 N/A $297.19 $191.72 $249.28 $118.68 $76.28 $156.52 $190.66 $49.83 N/A $65.51 $88.37 $140.70 $78.20 $456.99 $124.55 $90.72 $62.91 $166.49 $145.64 $125.45 N/A $103.18 N/A $59.81 $660.51 $58.01 $208.64 $68.09 $374.59 $101.99 $332.01 $123.89

N/A $4,101

Market Cap (billion) $206.3 $196.8 $215.9 $125.5 $305.4 $126.8 $184.4 $186.8 $87.5 $72.6 $21.3 $19.4 $126.2 $31.4 $21.5 $17.3 $65.5 $202.5 $13.5 $24.3 $87.1 $230.2 $349.4 $345.3 $49.6 $49.6 $51.8 $38.5 $100.1 $16.4 $88.4 $8.2 $14.2 $56.9 $115.2 $28.2

$154.5 $69.4

Dividend per Share

N/A $1.08 $2.56

N/A $7.60 $4.20 $5.52 $1.22 $1.96 $3.60 $3.68 $2.00

N/A $0.75 $1.05 $4.64 $1.88 $3.60 $3.96 $1.48 $1.40 $4.60 $3.65 $2.24

N/A $3.88

N/A $1.60

$19.52 $0.41 $3.32 $1.06 $3.56 $1.52 $3.40 $4.80

N/A $60.33

Dividend Yield 3.7% 2.5% 5.0% 2.4% 2.6% 2.2% 2.2% 1.0% 2.6% 2.3% 1.9% 4.0% 2.1% 1.2% 1.2% 3.3% 2.4% 0.8% 3.2% 1.6% 2.2% 2.8% 2.5% 1.8% 3.8% 3.8% 1.9% 2.7% 3.0% 0.7% 1.6% 1.6% 1.0% 1.5% 1.0% 3.9%

2.2% 1.5%

Dividend Pay Cycle2

N/A 1,4,7,10 2,5,8,11 N/A 3,6,9,12 2,5,8,11 3,6,9,12 1,4,7,10 2,5,8,11 3,6,9,12 3,6,9,13 3,6,9,12 N/A 4,7,10,12 3,6,9,12 2,5,8,11 2,5,8,11 2,5,8,11 3,6,9,12 1,4,7,10 1,4,7,10

1,3,6,9 2,5,8,11

1,4,6,9 N/A 3,6,9,12 N/A 3,6,9,12 3,6,9,12 2,5,8,11 1,4,7,10 3,6,9,12 3,6,9,12 3,6,9,12 3,6,9,12 3,6,9,12

N/A N/A

DSIP Dividend Increases

N/A 7 8

N/A 3

10 17

7 5 0 0 13 N/A 15 2 17 17 14 14 15 3 28 24 18 N/A 11 N/A 17 8 14 6 26 14 2 4 6

12 N/A

Company Consecutive

Dividend Increases

N/A 14 15

N/A 12 60 45 20 11 50 12 49

N/A 38 26 44 60 17 24 36 8 50 66 49

N/A 10

N/A 39 13 28 29 54 23 9 49 36

29 N/A

Annual Dividend Growth Estimate

6% 9% 2% 9% 9% 10% 6% 12% 10% 8% 7% 5% 6% 6% 6% 4% 4% 10% 5% 7% 8% 7% 4% 2% 3% 3% 7% 5% 8% 7% 5% 5% 8% 8% 8% 7%

7% N/A

Consensus L-T EPS Growth Estimate 9% 14% 4% 11% 6% 23% 7% 15% 13% 18% 10% 8% 7% 9% 8% -4% 4% 13% 0% 5% 8% 7% 6% 7% 4% 4% 8% 6% 9% 13% 6% 10% 8% -2%

9% 12%

Date Added to

DSIP N/A 8/28/15 3/12/14 N/A 1/3/20 9/14/12 9/16/04 2/24/15 3/24/17 9/29/21 5/3/22 10/3/08 N/A 5/31/07 3/5/20 9/16/05 9/16/05 6/25/08 10/3/08 5/31/07 9/17/18 8/10/94 11/23/98 9/21/04 N/A 5/2/12 N/A 11/1/06 2/24/15 10/3/08 10/28/16 4/18/97 2/6/09 2/27/20 10/19/18 6/29/16

3/10/11 N/A

Please see pages 6-8 of this report for Important Disclosures, Disclaimers and Analyst Certification

Investment and Insurance Products: NOT FDIC Insured NO Bank Guarantee MAY Lose Value

Diversified Stock Income Plan - Holdings by Sector

June 2, 2022

Diversified Stock Income Plan Holdings Statistics

Company

Symbol

Price

Market Cap (billion)

Dividend per Share

Health Care

N/A

N/A

$198.4

N/A

AmerisourceBergen Corp.

ABC

$150.01

$31.4

$1.84

Abbott Laboratories

ABT

$115.08

$201.5

$1.88

Amgen, Inc.

AMGN

$253.42

$135.4

$7.76

Becton, Dickinson & Co.

BDX

$251.40

$71.7

$3.48

Johnson & Johnson

JNJ

$177.71

$467.6

$4.52

Medtronic Plc

MDT

$97.78

$131.3

$2.72

Stryker Corp.

SYK

$228.00

$86.2

$2.78

UnitedHealth Group, Inc.

UNH

$492.55

$462.1

$5.80

Industrials

N/A

N/A

$86.5

N/A

3M Co.

MMM

$146.42

$83.3

$5.96

Emerson Electric Co.

EMR

$88.57

$55.1

$2.06

General Dynamics Corp.

GD

$226.22

$62.8

$5.04

Honeywell International, Inc.

HON

$191.91

$130.6

$3.92

Illinois Tool Works, Inc.

ITW

$205.98

$64.2

$4.88

L3Harris Technologies, Inc.

LHX

$241.49

$46.6

$4.48

Lockheed Martin Corp.

LMT

$439.30

$116.9

$11.20

Raytheon Technologies Corp.

RTX

$94.81

$141.0

$2.20

Union Pacific Corp.

UNP

$221.32

$139.0

$5.20

United Parcel Service, Inc.

UPS

$180.23

$157.6

$6.08

W.W. Grainger, Inc.

GWW

$494.39

$25.3

$6.88

Xylem, Inc.

XYL

$83.75

$15.1

$1.20

Information Technology

N/A

N/A

$523.4

N/A

Accenture Plc

ACN

$298.65

$189.2

$3.88

Analog Devices, Inc.

ADI

$164.77

$85.6

$3.04

Apple, Inc.

AAPL

$148.71

$2,406.9

$0.92

Automatic Data Processing, Inc.

ADP

$219.32

$91.6

$4.16

Broadridge Financial Solutions, Inc.

BR

$144.73

$17.0

$2.56

Cisco Systems, Inc.

CSCO

$45.23

$187.9

$1.52

Jack Henry & Associates, Inc.

JKHY

$186.13

$13.6

$1.96

Microsoft Corp.

MSFT

$272.42

$2,037.4

$2.48

Paychex, Inc.

PAYX

$122.26

$44.1

$3.16

Texas Instruments Incorporated

TXN

$174.42

$160.8

$4.60

Materials

N/A

N/A

$72.0

N/A

Air Products & Chemicals, Inc.

APD

$243.51

$54.0

$6.48

Ecolab, Inc.

ECL

$162.87

$46.5

$2.04

Linde Plc

LIN

$319.61

$160.9

$4.68

PPG Industries, Inc.

PPG

$125.37

$29.6

$2.36

The Sherwin-Williams Co.

SHW

$265.26

$69.0

$2.40

Real Estate

N/A

N/A

$68.2

N/A

American Tower Corp.

AMT

$252.56

$115.2

$5.53

Crown Castle International Corp.

CCI

$188.09

$81.4

$5.88

Federal Realty Investment Trust

FRT

$113.68

$9.0

$4.28

Prologis, Inc.

PLD

$125.86

$94.3

$3.16

Realty Income Corp.

O

$68.08

$41.0

$2.96

Utilities

N/A

N/A

$40.5

N/A

American Water Works Co., Inc.

AWK

$151.92

$27.6

$2.62

Atmos Energy Corp.

ATO

$116.43

$16.2

$2.72

CMS Energy Corp.

CMS

$70.83

$20.5

$1.84

Eversource Energy

ES

$92.12

$31.8

$2.55

New Jersey Resources Corp.

NJR

$45.90

$4.4

$1.45

NextEra Energy, Inc.

NEE

$76.17

$149.6

$1.70

WEC Energy Group, Inc.

WEC

$104.67

$33.0

$2.91

Xcel Energy, Inc.

XEL

$75.12

$40.9

$1.95

DSIP Average1

N/A

N/A

$154.5

N/A

S&P 500

SP50

$4,101

$69.4

$60.33

Source: FactSet, Wells Fargo Advisors, company reports

Dividend Yield 1.9% 1.2% 1.6% 3.1% 1.4% 2.5% 2.8% 1.2% 1.2% 2.4% 4.1% 2.3% 2.2% 2.0% 2.4% 1.9% 2.5% 2.3% 2.3% 3.4% 1.4% 1.4% 1.8% 1.3% 1.8% 0.6% 1.9% 1.8% 3.4% 1.1% 0.9% 2.6% 2.6% 1.6% 2.7% 1.3% 1.5% 1.9% 0.9% 3.2% 2.2% 3.1% 3.8% 2.5% 4.4% 2.5% 1.7% 2.3% 2.6% 2.8% 3.2% 2.2% 2.8% 2.6%

2.2% 1.5%

Dividend Pay Cycle2

N/A 3,6,9,12 2,5,8,11 3,6,9,12 3,6,9,12 3,6,9,12 1,4,7,10 1,4,7,10 3,6,9,12 N/A 2,5,8,11 3,6,9,12 2,5,8,11 3,6,9,12 1,4,7,10 3,6,9,12 3,6,9,12 3,6,9,12 3,6,9,12 3,6,9,12 3,6,9,12 3,6,9,12 N/A

5,11 3,6,9,12 2,5,8,11 1,4,7,10 1,4,7,10 1,4,7,10 3,6,9,12 3,6,9,12 2,5,8,11 2,5,8,11

N/A 2,5,8,11

1,4,7,10 3,6,9,12 3,6,9,12 3,6,9,12

N/A 2,5,8,11

3,6,9,12 1,4,7,10 1,4,7,11 Monthly N/A 3,6,9,12 3,6,9,12 2,5,8,11 3,6,9,12 1,4,7,10 3,6,9,12 3,6,9,12 1,4,7,10

N/A N/A

DSIP Dividend Increases

N/A 6

14 7

15 14

7 10

5 N/A

17 28 14

4 15 15

2 17

3 14 16

4 N/A

14 14

4 19

6 9 23 7 18 5 N/A 16 15 16 5 2 N/A 36 4 5 0 73 N/A 4 2 4 19 27 29 12 7

12 N/A

Company Consecutive

Dividend Increases

N/A 16 50 11 50 60 45 31 12

N/A 64 65 25 12 56 21 19 2 16 13 51 11

N/A 16 18 9 47 15 11 31 18 11 18

N/A 40 30 29 50 43

N/A 10 7 54 8 27

N/A 14 38 16 23 26 28 19 19

29 N/A

Annual Dividend Growth Estimate

8% 5% 8% 10% 5% 6% 7% 10% 10% 7% 3% 2% 8% 8% 7% 8% 7% 6% 8% 6% 6% 8% 8% 8% 8% 8% 6% 9% 5% 8% 9% 5% 8% 7% 7% 8% 7% 6% 8% 7% 12% 7% 3% 7% 3% 7% 8% 7% 7% 6% 7% 10% 6% 6%

7% N/A

Consensus L-T EPS Growth Estimate 6% 9% 6% 6% 5% 5% 7% 9% 13% 10% 8% 11% 12% 9% 9% 5% 7% 11% 11% 6% 17% 14% 10% 13% 14% 9% 15% 7% 9% 16% 10% 9% 12% 12% 13% 11% 10% 12% 6% 6% 7% 6% 11% 4% 7% 7% 8% 9% 7% 6% 9% 7% 7%

9% 12%

1 Simple average for market cap, dividend yield, dividend counts, date added. Median for growth estimate.

2 Months in which dividends are paid. January is 1, February 2, etc.

EPS = earnings per share, funds from operations used for real estate investment trusts

L-T = long-term

DSIP Dividend Increases = the number of dividend increases for the company while on DSIP

Company Consecutive Dividend Increases = the consecutive number of annual dividend increases for the company

Date Added to

DSIP N/A 11/9/15 6/25/08 9/9/15 1/5/07 6/25/08 11/9/15 4/25/12 3/24/17 N/A 3/2/05 11/30/93 6/25/08 2/7/18 3/2/05 8/29/08 3/5/20 9/20/01 3/5/20 3/7/07 7/10/06 10/19/18 N/A 6/25/08 6/28/07 11/29/18 11/25/03 1/15/16 11/20/13 11/11/99 1/5/12 5/7/01 6/28/17

N/A 7/5/06

3/6/07 6/15/06 6/29/16

3/5/20 N/A

6/14/13 9/17/18 10/28/16

5/3/22 3/14/07 N/A

6/7/18 1/3/20 9/17/18 6/7/04 2/16/96 5/10/94 2/9/12 3/3/15

3/10/11 N/A

Page 2 of 8

Diversified Stock Income Plan - Holdings by Sector

June 2, 2022

Diversified Stock Income Plan Holdings Statistics

Symbol Communication Services (average) CMCSA VZ Consumer Discretionary HD LOW MCD NKE SBUX TGT TSCO VFC Consumer Staples BF.B CHD CLX CL COST SJM MKC MDLZ PEP PG WMT Energy PSX Financials AFL BLK BRO CB CBSH FDS ICE SPGI TROW DSIP Average1 S&P 500

Sub-Industry n/a Cable & Satellite Integrated Telecommunication Services n/a Home Improvement Retail Home Improvement Retail Restaurants Footwear Restaurants General Merchandise Stores Specialty Stores Apparel Accessories & Luxury Goods n/a Distillers & Vintners Household Products Household Products Household Products Hypermarkets & Super Centers Packaged Foods & Meats Packaged Foods & Meats Packaged Foods & Meats Soft Drinks Household Products Hypermarkets & Super Centers n/a Oil & Gas Refining & Marketing n/a Life & Health Insurance Asset Management & Custody Banks Insurance Brokers Property & Casualty Insurance Regional Banks Financial Exchanges & Data Financial Exchanges & Data Financial Exchanges & Data Asset Management & Custody Banks

SP50

Price n/a $43.93 $51.40 n/a $297.19 $191.72 $249.28 $118.68 $76.28 $156.52 $190.66 $49.83 n/a $65.51 $88.37 $140.70 $78.20 $456.99 $124.55 $90.72 $62.91 $166.49 $145.64 $125.45 n/a $103.18 n/a $59.81 $660.51 $58.01 $208.64 $68.09 $374.59 $101.99 $332.01 $123.89

52-Week Low n/a $39.47 $45.55 n/a

$279.59 $179.22 $217.68 $103.46

$68.39 $145.51 $166.49

$44.17 n/a $60.23 $80.76 $127.02 $72.20 $375.50 $118.55 $77.85 $57.63 $144.61 $131.94 $117.27 n/a $63.19 n/a $51.28 $582.58 $51.47 $155.78 $61.81 $319.65 $93.45 $322.20 $112.65

52-Week High n/a $61.80 $57.61 n/a

$420.61 $263.31 $271.15 $179.10 $126.32 $268.98 $241.54

$84.96 n/a $81.57 $105.28 $191.75 $85.61 $612.27 $146.74 $107.35 $69.47 $177.62 $165.35 $160.77 n/a $104.01 n/a $67.20 $973.16 $74.00 $218.99 $74.84 $495.40 $139.79 $484.21 $224.56

Fiscal Year End n/a Dec Dec n/a Jan Jan Dec May Oct Jan Dec Apr n/a Apr Dec Jun Dec Aug Apr Nov Dec Dec Jun Jan n/a Dec n/a Dec Dec Dec Dec Dec Aug Dec Dec Dec

$4,101

$3,810

$4,819

TTM Dividend Payout

Ratio 41% 33% 50% 40% 43% 26% 56% 31% 50% 30% 28% 56% 58% 43% 31%

126% 75% 26% 73% 50% 46% 59% 61% 48% 63% 63% 26% 23% 43% 18% 17% 24% 30% 19% 22% 36% 52% 28%

5-Yr Dividend

CAGR 7%

13% 2%

12% 19% 18%

8% 12% 18%

7% 18% -2% 11%

6% 7% 8% 3% 50% 6% 10% 13% 7% 4% 2% 8% 8% 11% 10% 13% 9% 3% 7% 11% 14% 16% 15% 10% 9%

Consensus NTM EPS Estimate

n/a $3.74 $5.49

n/a $16.68 $13.86

$9.93 $4.27 $3.09 $11.84 $9.74 $3.33

n/a $1.84 $3.22 $4.96 $3.10 $13.72 $8.64 $3.25 $2.98 $6.77 $6.02 $6.58

n/a $10.21

n/a $5.14 $38.92 $2.37 $15.59 $3.81 $13.59 $5.48 $13.17 $10.42

$239

NTM PE 10.4x 11.7x 9.4x 18.3x 17.8x 13.8x 25.1x 27.8x 24.7x 13.2x 19.6x 15.0x 24.1x 35.6x 27.4x 28.3x 25.2x 33.3x 14.4x 27.9x 21.1x 24.6x 24.2x 19.1x 10.1x 10.1x 17.0x 11.6x 17.0x 24.4x 13.4x 17.9x 27.6x 18.6x 25.2x 11.9x 19.5x 17.2x

5-Yr Average NTM PE

13.0x 15.3x 11.4x 23.4x 21.6x 18.2x 25.2x 34.6x 31.6x 17.6x 22.0x 26.1x 24.1x 36.3x 28.2x 26.3x 23.9x 34.6x 13.9x 29.5x 20.2x 23.0x 23.2x 22.8x 17.6x 17.6x 18.0x 10.7x 18.2x 26.0x 13.3x 18.8x 28.3x 22.3x 27.5x 14.5x 21.0x 18.6x

NTM Relative

PE 0.6x 0.7x 0.5x 1.0x 1.0x 0.8x 1.4x 1.5x 1.4x 0.8x 1.1x 0.8x 1.4x 2.0x 1.6x 1.5x 1.4x 1.9x 0.8x 1.6x 1.2x 1.4x 1.4x 1.1x 0.6x 0.6x 1.0x 0.7x 0.9x 1.4x 0.8x 1.0x 1.5x 1.0x 1.4x 0.7x 1.1x 1.0x

5-Yr Avg NTM

Relative PE 0.7x 0.8x 0.6x 1.2x 1.1x 0.9x 1.3x 1.7x 1.5x 0.9x 1.1x 1.3x 1.3x 1.9x 1.5x 1.4x 1.3x 1.8x 0.7x 1.5x 1.1x 1.2x 1.2x 1.2x 0.7x 0.7x 0.9x 0.6x 0.9x 1.4x 0.7x 1.0x 1.5x 1.2x 1.4x 0.8x 1.1x 1.0x

Int'l Sales

11% 22%

0% 28%

8% 6% 62% 67% 30% 0% 0% 48% 38% 46% 18% 15% 69% 28% 7% 40% 75% 44% 56% 18% 21% 21% 31% 71% 51% 3% 40% 0% 40% 32% 40% 0% 30% 38%

Net Debt / Capital

57% 47% 67% 77% 98% 112% 109% -3% 130% 58% 62% 53% 43% 31% 40% 82% 84% -10% 33% 50% 38% 57% 32% 38% 31% 31% 13%

9% 4% 16% 22% 37% 2% 32% 15% -19% 40% 32%

S&P Credit Rating

n/a ABBB+ n/a A BBB+ BBB+ AABBB+ A BBB An/a ABBB+ BBB+ AAA+ BBB BBB BBB A+ AAAA n/a BBB+ n/a AAABBBA AAABBB+

Page 3 of 8

Diversified Stock Income Plan - Holdings by Sector

June 2, 2022

Diversified Stock Income Plan Holdings Statistics

Symbol Health Care ABC ABT AMGN BDX JNJ MDT SYK UNH Industrials MMM EMR GD HON ITW LHX LMT RTX UNP UPS GWW XYL Information Technology ACN ADI AAPL ADP BR CSCO JKHY MSFT PAYX TXN Materials APD ECL LIN PPG SHW DSIP Average1 S&P 500

Sub-Industry n/a Health Care Distributors Health Care Equipment Biotechnology Health Care Equipment Pharmaceuticals Health Care Equipment Health Care Equipment Managed Health Care n/a Industrial Conglomerates Electrical Components & Equipment Aerospace & Defense Industrial Conglomerates Industrial Machinery Aerospace & Defense Aerospace & Defense Aerospace & Defense Railroads Air Freight & Logistics Trading Companies & Distributors Industrial Machinery n/a IT Consulting & Other Services Semiconductors Technology Hardware Storage & Peripherals Data Processing & Outsourced Services Data Processing & Outsourced Services Communications Equipment Data Processing & Outsourced Services Systems Software Data Processing & Outsourced Services Semiconductors n/a Industrial Gases Specialty Chemicals Industrial Gases Specialty Chemicals Specialty Chemicals

SP50

Price n/a $150.01 $115.08 $253.42 $251.40 $177.71 $97.78 $228.00 $492.55 n/a $146.42 $88.57 $226.22 $191.91 $205.98 $241.49 $439.30 $94.81 $221.32 $180.23 $494.39 $83.75 n/a $298.65 $164.77 $148.71 $219.32 $144.73 $45.23 $186.13 $272.42 $122.26 $174.42 n/a $243.51 $162.87 $319.61 $125.37 $265.26

52-Week Low n/a

$111.34 $104.63 $198.64 $235.13 $155.72

$96.86 $224.02 $383.12

n/a $139.74

$81.01 $182.66 $174.42 $195.25 $200.71 $324.23

$79.00 $195.68 $165.34 $391.16

$78.92 n/a $268.17 $143.81 $123.13 $192.18 $132.68 $41.02 $147.50 $243.00 $99.88 $160.50 n/a $216.24 $154.31 $267.51 $111.32 $233.32

52-Week High n/a

$167.19 $142.60 $258.45 $280.62 $186.69 $135.89 $281.16 $553.29

n/a $206.81 $105.99 $254.99 $236.86 $249.81 $279.71 $479.99 $106.02 $278.94 $233.72 $529.91 $138.78

n/a $417.37 $191.95 $182.94 $248.96 $185.40

$64.29 $205.37 $349.67 $141.92 $202.26

n/a $316.39 $238.93 $352.18 $182.97 $354.15

Fiscal Year End n/a Sep Dec Dec Sep Jan Apr Dec Dec n/a Dec Sep Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec n/a Aug Oct Sep Jun Jun Jul Jun Jun May Dec n/a Sep Dec Dec Dec Dec

$4,101

$3,810

$4,819

TTM Dividend Payout

Ratio 50% 22% 43% 71% 54% 57% 68% 50% 32% 48% 62% 43% 41% 51% 56% 42% 48% 73% 43% 37% 29% 49% 48% 37% 80% 14% 58% 54% 52% 38% 25% 71% 50% 51% 63% 52% 56% 51% 33% 52% 28%

5-Yr Dividend

CAGR 10% 5% 12% 12% 5% 6% 8% 11% 19% 8% 6% 1% 9% 9% 14% 15% 9% -5% 14% 6% 6% 13% 11% 10% 10% 9% 12% 14% 9% 11% 9% 8% 21% 9% 11% 7% 7% 8% 14% 10% 9%

Consensus NTM EPS Estimate

n/a $11.14

$4.27 $17.96 $11.50 $10.24

$5.61 $10.01 $22.43

n/a $10.83

$5.22 $12.66

$9.00 $9.34 $13.87 $27.17 $4.83 $12.11 $12.88 $26.78 $2.74

n/a $11.25

$9.90 $6.19 $7.50 $6.86 $3.43 $5.06 $10.24 $3.97 $8.64

n/a $10.91

$5.47 $12.15

$7.50 $9.96

$239

NTM PE 18.5x 13.5x 26.9x 14.1x 21.9x 17.3x 17.4x 22.8x 22.0x 18.1x 13.5x 17.0x 17.9x 21.3x 22.1x 17.4x 16.2x 19.6x 18.3x 14.0x 18.5x 30.6x 22.5x 26.5x 16.6x 24.0x 29.2x 21.1x 13.2x 36.8x 26.6x 30.8x 20.2x 23.4x 22.3x 29.8x 26.3x 16.7x 26.6x 19.5x 17.2x

5-Yr Average NTM PE

18.0x 12.2x 25.2x 13.9x 20.6x 16.7x 19.9x 24.9x 19.3x 19.1x 18.2x 20.1x 15.1x 22.0x 23.5x 17.4x 15.5x 18.8x 20.0x 16.6x 19.3x 32.0x 24.7x 27.4x 21.7x 23.0x 28.4x 24.7x 15.1x 38.8x 29.4x 28.5x 23.8x 25.2x 25.2x 34.8x 26.8x 18.8x 25.5x 21.0x 18.6x

NTM Relative

PE 1.0x 0.8x 1.4x 0.8x 1.2x 1.0x 1.0x 1.3x 1.2x 1.0x 0.8x 1.0x 1.0x 1.2x 1.3x 1.0x 0.9x 1.1x 1.0x 0.8x 1.0x 1.7x 1.3x 1.5x 1.0x 1.3x 1.7x 1.2x 0.7x 2.1x 1.5x 1.8x 1.1x 1.3x 1.3x 1.7x 1.5x 0.9x 1.5x 1.1x 1.0x

5-Yr Avg NTM

Relative PE 0.9x 0.6x 1.3x 0.7x 1.1x 0.9x 1.0x 1.3x 1.0x 1.0x 1.0x 1.0x 0.8x 1.1x 1.2x 0.9x 0.8x 0.9x 1.0x 0.9x 1.0x 1.6x 1.3x 1.4x 1.1x 1.2x 1.5x 1.3x 0.8x 2.0x 1.5x 1.5x 1.2x 1.2x 1.3x 1.8x 1.4x 1.0x 1.3x 1.1x 1.0x

Int'l Sales

33% 0%

61% 30% 46% 50% 48% 28%

3% 35% 58% 56% 18%

0% 54% 22% 28% 38% 11% 24% 21% 56% 40% 55% 67% 63% 13% 12% 48%

0% 50%

1% 90% 53% 62% 48% 68% 63% 21% 30% 38%

Net Debt / Capital

32% 43% 17% 80% 35%

3% 18% 44% 18% 38% 44% 21% 33% 27% 57% 27% 45% 26% 72% 32% 49% 24%

9% -8% 10% 37% 23% 67% -19% 15% -11% -13% -10% 45% 20% 56% 20% 49% 82% 40% 32%

S&P Credit Rating

n/a BBB+ AA-

ABBB AAA

A BBB+

A+ n/a A+ A AA A+ BBB AAAAA+ BBB n/a AAAAA+ AABBB+ AA-

AAA

A+ n/a A AA BBB+ BBB ABBB+

Page 4 of 8

Diversified Stock Income Plan - Holdings by Sector

June 2, 2022

Diversified Stock Income Plan Holdings Statistics

2-Jun

Sub-Industry

Real Estate

n/a

AMT

Specialized REITs

CCI

Specialized REITs

FRT

Retail REITs

PLD

Industrial REITs

O

Retail REITs

Utilities

n/a

AWK

Water Utilities

ATO

Gas Utilities

CMS

Multi-Utilities

ES

Electric Utilities

NJR

Gas Utilities

NEE

Electric Utilities

WEC

Multi-Utilities

XEL

Electric Utilities

DSIP Average1

S&P 500

SP50

Source: FactSet, Wells Fargo Advisors, company reports

Price n/a $252.56 $188.09 $113.68 $125.86 $68.08 n/a $151.92 $116.43 $70.83 $92.12 $45.90 $76.17 $104.67 $75.12

52-Week Low n/a

$220.00 $157.16 $106.52 $116.37

$62.74 n/a $142.36 $85.80 $57.92 $78.44 $34.41 $67.22 $86.84 $61.16

52-Week High n/a $303.72 $209.87 $140.51 $174.54 $75.40 n/a $189.65 $122.96 $73.76 $94.63 $47.50 $93.73 $108.39 $76.63

Fiscal Year End n/a Dec Dec Dec Dec Dec n/a Dec Sep Dec Dec Sep Dec Dec Dec

$4,101

$3,810

$4,819

TTM Dividend Payout

Ratio 73% 50% 73% 70% 63%

107% 84% 35% 49% 38% 65%

145% 214%

64% 62%

52% 28%

5-Yr Dividend

CAGR 8%

19% 9% 2% 8% 3% 8%

10% 8% 7% 6% 7%

12% 6% 6%

10% 9%

Consensus NTM EPS Estimate

n/a $10.14

$7.43 $6.04 $5.29 $4.04

n/a $4.49 $5.85 $2.96 $4.14 $2.60 $2.74 $4.28 $3.22

$239

NTM PE 21.4x 24.9x 25.3x 18.8x 23.8x 16.9x 23.3x 33.8x 19.9x 23.9x 22.3x 17.7x 27.8x 24.5x 23.4x

19.5x 17.2x

5-Yr Average NTM PE

21.6x 23.7x 22.5x 19.6x 24.8x 18.6x 23.4x 33.4x 21.0x 22.3x 21.5x 20.2x 27.6x 23.7x 22.1x

21.0x 18.6x

1 Simple average for payout ratio, dividend CAGR, international sales, net debt/capital, credit rating. Harmonic average for PEs.

TTM = trailing twelve months

CAGR = compound annual growth rate

NTM = next twelve months

EPS = earnings per share, funds from operations used for real estate investment trusts

PE = price to earnings ratio

NTM Relative

PE 1.2x

1.4x 1.4x 1.1x 1.4x 1.0x

1.3x 1.9x 1.2x 1.4x 1.3x 1.1x 1.5x 1.4x 1.3x

1.1x 1.0x

5-Yr Avg NTM

Relative PE 1.2x 1.3x 1.2x 1.1x 1.3x 1.0x 1.2x 1.7x 1.1x 1.2x 1.1x 1.0x 1.4x 1.2x 1.2x

1.1x 1.0x

Int'l Sales

13% 45%

0% 0% 13% 6% 1% 8% 0% 0% 0% 0% 0% 0% 0%

30% 38%

Net Debt / Capital

59% 87% 76% 59% 32% 41% 58% 59% 44% 62% 58% 60% 61% 57% 61%

40% 32%

S&P Credit Rating

n/a BBBBBBBBB+

AAn/a A ABBB+ AAAA-

ABBB+

Page 5 of 8

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download