Madison Investments, an investment advisor, released its “Madison Dividend Income Fund” first-quarter 2024 investor letter. In the first quarter, the fund (Class Y) returned +3.7% compared to +10.6%, +9.0%, and +7.8% for the S&P 500, Russell 1000 Value, and Lipper Equity Income peer group returns, respectively. One important factor is that in March, dividend stocks did better than the S&P 500. The S&P 500 gained +3.2%, while the Dow Jones Select Dividend Index gained +6.6%. In addition, please check the fund’s top five holdings to know its best picks in 2024.
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