Coverage is reported as of the morning session. A few items are from the past several days because there was little news in the strict last 24 hours. Dividend Increases/Cuts City Holding Company (CHCO) raised its quarterly dividend 15%, from $0.87 to $1.00 per share. That is the largest percentage increase in today's scan. Bank OZK lifted its dividend by a penny to $0.49 (+2.1%), its 65th consecutive quarterly increase. Phillips Edison & Company (PECO) raised its monthly distribution 6.2% to $0.115, starting with the October 1 payment. Two big payers had ex-dates around now. JPMorgan's raised $1.65 dividend (up from $1.50) went ex today. Philip Morris's increase to $1.60 (from $1.47) went ex October 2. On the cut side, there were no major new cuts in the last 24 hours. Slate Grocery REIT's dividend suspension is still drawing attention. Intel's dividend remains suspended because free cash flow has been negative in both quarters of 2026 so far. Notable Moves Dividend ETFs are lagging the rally in tech. Over the past week SCHD fell 1.33% and VYM fell 1.00%. Year to date, SCHD is up about 20.9% and VYM about 10.0%. SCHD's trailing yield is 3.22% and VYM's is 2.35%. Before the open, Constellation Energy jumped about 9% on a 20-year nuclear power deal with Google. Stryker fell about 3.5% after announcing its next CEO. Market Context The main story for income investors is rates. The 10-year Treasury yield moved above 5.3% this week, its highest since 2002, and the 30-year briefly passed 5.7%, a 24-year high. The 10-year eased to about 5.27% this morning as oil prices dropped after a G7 reserve release. Even so, the S&P 500 rose about 0.5% at the open and the Nasdaq hit a record. Rate-sensitive sectors are falling behind. Fewer than 25% of utilities, real estate and consumer staples stocks are above their 200-day moving averages, compared with about two-thirds of energy and tech names. Utilities are down about 7% since February while the broader market is up about 10%.

Remarkable changes in dividend assets 1. Yield spreads over Treasuries have nearly vanished for large-cap income names. Realty Income (O) and Verizon (VZ) both yield less than 60 basis points over the 10-year. 2. YQQQ's reset leaves it at roughly a 20% indicated yield. Distributions on option-income funds can erode NAV over time, so the yield and the payout can both move. 3. SCHD's roughly 3.2% yield and its pullback from about $35 show how rising rates are weighing on dividend ETF prices even after strong one-year returns. Possibly undervalued (factual screens, not recommendations) 1. GLPI trades below its 200-day average, and analysts' average target of $52.39 sits well above $42.79. 2. WES trades at about 11 times forward earnings, with distributions well covered by cash flow guidance. 3. AbbVie (ABBV) trades at 16 times forward earnings. Free cash flow of $17.8 billion covers $11.7 billion in dividends.

Notable movers this week: - SO — Morgan Stanley downgraded to Underweight, cut PT $89→$85 (Sept 18); stock hit a fresh 52-week low Sept 23. - TXN — raised its quarterly dividend 7% to $1.52/share, 23rd straight year of increases (Sept 22). - O — BofA and UBS reiterated Street-high $72 targets, citing a new $6B hyperscale data-center JV (Sept 22). - WEC — upgraded Sell→Hold by Wall Street Zen (Sept 22). - JPM — downgraded to Hold by Zacks (Sept 16); shares fell ~3.4% on Sept 22 amid sector-wide bank de-risking despite announcing a new $20B Qatar Investment Authority partnership.

Dividend increases: McDonald's declared a quarterly dividend of $1.93/share on September 17, a 4% raise that marks its 50th consecutive year of increases. That officially moves MCD into Dividend King status, one of fewer than 60 US companies with a 50-year-plus streak. Elsewhere, Microsoft, JPMorgan, and Ingredion were also among names tracked with recent raises this month. Dividend increases/cuts: no major dividend cuts or suspensions surfaced in the last 24 hours among large-cap names. The cuts still being discussed in coverage (Whirlpool's 49% cut and skipped payment, Kraft Heinz's frozen payout since 2019, IEP's repeated cuts) are older stories being recirculated as cautionary examples of inflated yields rather than new announcements. Notable moves: the standout story is NNN REIT, which slid roughly 16% this week following the Fed's rate move, pushing its yield up to around 5.3 to 5.5% even as the company maintains a 37-year streak of annual dividend increases, the third-longest run among REITs. Several analysts (Seeking Alpha among them) flagged the pullback as overdone and a potential buying opportunity, though that's their view, not a fact. More broadly, REITs as a group fell about 2% on the week; utilities were choppier, dropping early in the week on surging Treasury yields before recovering about 0.86% on Thursday. Market context: the Fed raised its benchmark rate 25 basis points to 3.75 to 4% on September 16, its first hike since 2023, citing elevated inflation tied partly to rising oil prices. The move was unanimous, and Fed commentary left the door open to another hike this year. Treasury yields jumped sharply on the news (10-year approaching 5%, 2-year near 4.75%), which is the direct pressure point for yield-heavy sectors: higher-for-longer rates raise REITs' and utilities' cost of capital and make bonds more competitive with dividend yields. Undervalued names flagged this week: Healthpeak (REIT) is being cited as trading roughly 40% below fair-value estimates with a yield above 7%; Kodiak Gas Services is trading at a forward P/E of about 15.6x versus a sector average near 18x, with a yield around 5.2%; and Zoetis and American Tower were both named among "deeply discounted" or high-yield opportunities in this week's screens.

A weekly price-based screen across the 16 tickers on the strategic-buy watchlist, ranked by distance below the trailing-12-month high, so pullbacks are easy to spot at a glance. This is a price screen, not a valuation judgment: a name near its 52-week high can still be fairly priced, and a name far below its high can be cheap for a reason. Pair it with the fundamentals before buying. Updated Sept 18, 2026 Movers this week? TXN Sept 11, 2026 Shares opened up 3.23% after management flagged broad price increases across key analog semiconductor product lines, framed as a response to strengthening industrial, automotive and data-center demand — read by the market as a margin-expansion catalyst. — TradingKey TXN Sept 17, 2026 Raised its quarterly dividend 7% to $1.52/share ($6.08 annualized), marking 23 consecutive years of increases. Payable Nov 10, record date Oct 30. — PR Newswire O Sept 8, 2026 Declared its 674th consecutive monthly common dividend, raising the payout 0.2% to $0.2715/share — the third increase of 2026 (0.6% cumulative) and the 32nd straight year of dividend growth. — DividendTrackRecords JPM Sept 16, 2026 Zacks Research downgraded the stock from Strong Buy to Hold. Other desks stayed constructive — UBS and Goldman Sachs price targets of $400 and $418 were cited in the same coverage. — Daily Political KO Sept 16, 2026 Announced a multi-year, $10 billion U.S. infrastructure investment program covering production facilities, logistics and digital systems — a notably capital-heavy move for a company that otherwise runs an asset-light bottling model. — Simply Wall St