Donald Yacktman founded Yacktman Asset Management in 1992, and the firm’s value-oriented approach has trounced the market ever since. Over the last decade its two funds, The Yacktman Fund and The Yacktman Focused Fund, returned 223% and 243%, respectively. The S&P 500 gained just 38% during the same period.
Yacktman favors quality companies that churn out so much cash they’re able to adequately reinvest in operations and still have plenty leftover for smart acquisitions, share buybacks, and yes… dividends. He has said on many occasions, however, that it’s not the actual dividends he’s after, once telling Conseulo Mack: “We’re more concerned with the capacity to pay a dividend, rather than the dividend itself.” Whether dividends are a by-product of Yacktman’s stringent investment criteria or an understated requirement, there’s no denying The Yacktman Funds are filled to the brim with dividend-paying companies.
Source: Guru Focus
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