No book on investing for dividends can possibly be complete without an analysis of the debacle that was BP, once the largest company by stock market capitalisation in the FTSE 100.
BP was a highly successful company with a progressive dividend policy. However, it provided a warning that no investment is without its risks and that unforeseen forces can derail even the most solid- looking company.
BP provided about one-sixth of the income of UK pension funds before disaster struck in the Gulf of Mexico. This is quite astonishing. To have so many of your eggs in one basket runs entirely contrary to perceived investment wisdom.
In this respect, ordinary investors ...