Covered, compounding, and aimed at a 30% payout. A $0.32 quarterly dividend at a 29.56% trailing payout, with 12 years of growth and a 4.66% buyback yield alongside. Management targets a 30% payout ratio, and the February 2026 raise kept the streak — Behr and Delta are steady tolls.
Key risk: Housing-adjacent demand — a deeper homebuilding downturn trims volumes, not the payout.
Changes if: The payout rises past ~50% or the growth streak breaks.
- ✓Covered by earnings 29.56% trailing payout, per StockAnalysis.
- ✓Growth record 12 years of growth; raised Feb 2026.
- !Modest yield 1.68% at the Oct 23 close — steady, not rich.
What this grade doesn't say: It screens the dividend only — covered, real, compounding. It says nothing about valuation or price: a well-covered payer can still be overpriced, and its price can still fall.