• Dividend Income Fund

Fund Objective

Madison Dividend Income Fund invests in a diversified portfolio of dividend-paying stocks, with the goal of producing current income while providing an opportunity for capital appreciation.

Investment Strategies

The fund focuses on large companies whose stocks have a market capitalization exceeding $1 billion. Under normal conditions at least 80% of the fund’s assets will be invested in dividend paying securities. These securities are chosen for having a current yield exceeding the S&P 500’s average yield, strong fundamentals including an attractive balance sheet, and reasonable valuations at the time of purchase. A key attraction for management is a company with a history of increasing dividend payments in the past, and a business model which supports the possibility of continuing these increases in the future.

This fund’s investment strategy reflects the adviser’s general “Participate and Protect®” investment philosophy. The adviser’s expectation is that investors in the fund will participate in market appreciation during bull markets and be protected during bear markets compared with investors in portfolios holding more speculative and volatile securities, although there is no assurance that this expectation will be realized.

Key Highlights

(as of Friday August 18, 2017)
  Class Y
Daily Price 24.72
Ticker Symbol BHBFX
Inception Date

12/18/1986

Expense Ratio 0.95


Links to other Madison Funds information:
Daily Price Summary
Performance Summary (PDF)
Prospectus and Financial Reports
Account Applications and Forms
Tax Information

Portfolio Management

 

John Brown, CFA

Jay Sekelsky, CFA

Drew Justman, CFA

Portfolio Highlights

Top Ten Fund Holdings
(as of July 31, 2017)
JOHNSON + JOHNSON3.4%
US BANCORP3.3%
BOEING CO/THE3.1%
MICROSOFT CORP3.1%
UNITED TECHNOLOGIES CORP2.9%
PNC FINANCIAL SERVICES GROUP2.8%
CISCO SYSTEMS INC2.8%
UNITED PARCEL SERVICE CL B2.8%
CARNIVAL CORP2.7%
EXXON MOBIL CORP2.6%
% of Fund in Top Ten Securities29.4%
 
Net Assets (as of 6/30/17) $104.3 Million
Turnover (as of 10/31/16) 33%

Complete Holdings List
Investment in the fund involves direct expenses and a proportional share of the expenses of the underlying funds — indirect expenses. The cost of this type of investment may be higher than generally experienced when investing in mutual funds that contain stocks and bonds. Please see prospectus for further details.