Dividends Up. Buybacks Up. Our Returns? Also Up.

👋 Howdy Partner,

Two of our portfolio companies just reported earnings.

One is up 5% since we bought it. The other? Up 10%.

That’s great. But here’s what really matters:

Both companies just raised their dividends. Both authorized share buybacks.

That’s money coming straight back to us - exactly what we want to see.

Let’s break down the numbers.