Jenny Harrington Buys Ryman Hospitality, Discusses Dividend Investing Book

Ryman Hospitality Investment

• 🎯 Jenny Harrington has initiated a new buy in Ryman Hospitality Partners (RHP), noting it's a fantastic company.
• 💡 The company owns iconic venues like the Grand Ole Opry and the Ryman Auditorium, along with five of the top 10 non-gaming conference centers.
• 📈 RHP has been trading at a discount, with a 5.5% yield and consistent earnings growth, despite being unfairly grouped with hotel REITs.
• ⚠️ Even under stress-test scenarios like a global depression, Ryman Hospitality is expected to maintain its ability to pay its dividend.

Dividend Investing Strategy

• 📚 Harrington discusses her new book, "Dependable Income to Navigate All Market Environments," which covers investment behavior, portfolio construction, and stock research.
• 📖 The book includes sections on successful and unsuccessful investments, client stories, and real estate investing experiences.
• 💰 The core principle of dividend investing is that a portion of the return is certain, unlike growth stocks where the entire return is uncertain.

Top Dividend Picks

• 📈 Harrington highlights three top dividend income picks: Kinder Morgan (4.5% yield), Verizon (6.5% yield), and Bristol Myers (4.5% yield).
• 🌍 For Kinder Morgan and Verizon, 100% of revenues are from the US, mitigating tariff risks.
• 💰 Bristol Myers, despite earnings concerns, generates over $10 billion in free cash flow, allowing for growth through acquisitions.
• ✅ These companies have a history of consistent dividend payments: Verizon (40 years), Kinder Morgan (14 years), and Bristol Myers (92 years).
• 🤝 All profits from Harrington's book go to the Council for Economic Education, where she serves on the board.