Scott Phillips

speaker

1,587 appearances 2 recordings 1 series first heard Jun 2022 last heard 31 Aug

Scott Phillips’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · 📈 Investing for income: dividends & passive income · 2 Jun 2022 podcast

The share price has grown.

And funnily enough, because profits have grown so quickly, which has driven the share price growth,

From those profits, you can pay higher and higher dividends.

And the dividend now is probably something like, I don't know the numbers, but it'd be a third or a half of that old $3 share price.

Now, the share price has improved a lot, of course, but there are circumstances.

If you can find growing businesses that grow not only sales but profits,

You shouldn't expect that if they don't have a use for those profits to be reinvested for more growth, they can pay them out to you.

And Domino's is a really great example.

I own shares, by the way, full disclosure.

I unfortunately didn't know them that long ago and I haven't held them all the way through.

But that sort of story is if you can find those businesses that are profitable, that are growing relatively quickly,

don't have a lot of need for capital reinvestment, which is horrible jargon for they don't need to keep all their profits and then use it to grow the business.

They can afford to say, hey, we'll keep some of that for growth.

The rest of it, you can have shareholders.

And that's when you get a really nice combination of both.

So there's not necessarily a trade-off between the two.

What I will say quickly is Domino's dividend yield, we'll talk about in a minute,

as a percentage has always been low.

So you weren't getting 4% to start.

You're probably not going to be getting 4% nowadays.

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