Dividend Investing is Gregorio Hernández's most technical work and the one that best distils his years of practice and reflection on this strategy.
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Gregorio Hernández dives deep into dividend investing strategy: how to select companies with sustainable and growing dividends, evaluate balance sheet strength, build a diversified portfolio, and manage dividend tax in Spain. Includes specific analyses of Ibex 35 and major European market companies.
Dividend Investing is Gregorio Hernández's most technical work and the one that best distils his years of practice and reflection on this strategy. Unlike his more general book on long-term investing, the focus here is exclusively on dividends: how to evaluate payment sustainability, which coverage ratios to monitor, how to identify companies that have maintained or grown their dividend over decades, and how to build a portfolio that generates increasing income over time. The treatment is more rigorous and technical than in other works by the same author, making it especially useful for investors who already have a foundation and want to refine their selection process. The honest critique is that the dividend strategy has meaningful limitations in a capital income tax environment that the book does not address in sufficient detail; the tax efficiency of compounding dividends versus capital gains depends heavily on each country's regulatory context. The book delivers what it promises: a practical manual, rigorous within its scope, and consistent with the author's philosophy.
For investors with basic stock market experience who want to develop or refine a growing-dividend strategy; not an introductory text and does not address other investment approaches.
FactPublished in 2016, it is the most detailed reference work on dividend investing originally written in Spanish.
