Home About Us Why Griffin Strategies Insights Contact Core Strategies Our core strategies are managed for individuals and institutions seeking our expertise in large-cap equities. The strategies are focused on generating strong risk adjusted returns and are suitable for different needs and risk tolerances. Dividend Growth Our Dividend Growth strategies invest primarily in mid and large capitalization dividend paying stocks of high quality companies at a discount to the investment managers’ assessment of intrinsic value. Our strategies include our Core Dividend Growth and Low Volatility Dividend Growth. DOWNLOAD THE BROCHURES Core Dividend Growth Low Volatility Dividend Growth Growth At A Reasonable Price Our GARP Strategy seeks to capitalize on purchasing stocks with strong profit growth at advantageous prices. We take a continuous and consistent approach to identifying companies that are focused on enhancing shareholder value to produce favorable results. DOWNLOAD THE BROCHURE Growth At A Reasonable Price © 2021 by Griffin Asset Management

Home About Us Why Griffin Strategies Insights Contact All Posts Materials Sector Financial Sector Value Sector U.S. Economy Energy Sector More Stock Buybacks Are Back Big Time: Spread The News! John Carey, Portfolio Manager August 30, 2021 The resurgence of U.S. stock buybacks has gotten little media attention. According to J.P. Morgan, stock buyback announcements so far this year total $431 billion, already more than the $307 billion of buybacks for all last year. J.P. Morgan strategist, Dubravko Lakos-Bujas, believes that S&P 500 corporations could buy back $875 billion of their stock over the next year, while paying out another $575 billion in dividends. As shown in Figure 1 (below), these actions total a projected 1.45 trillion dollars which would represent an all-time high. In addition, this would provide investors with an expected shareholder yield of 3.9%, which is three times the current U.S. Treasury 10 Year Note yield-to-maturity of 1.3%. In our opinion, the resurgence of U.S. stock buybacks will be another catalyst for higher equity prices and will provide support to stock prices in any downturns. More importantly, the projected stock buybacks have not been incorporated into consensus S&P 500 E.P.S. estimates. As a result, we believe S&P 500 E.P.S. estimates are likely to be raised above the current $201.55 and $220 per share consensus projections* for this year and 2022. *I/B/E/S data by Refinitiv. All material of opinion reflects the judgement of Adviser at this time and are subject to change. This material is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Stock BuybacksJohn CareyS&P 500DividendsE.P.S. EstimatesEquity Yields U.S. Economy • Dividends • S&P 500 27 views Post not marked as liked Recent Posts See All When Is The Ideal Age To Retire? 44 Post not marked as liked The Resurgence of Value 49 Post not marked as liked Dividend Growth & The Covid-19 Crisis 49 Post not marked as liked © 2021 by Griffin Asset Management