RE:Over the wallThere is a notional ceiling we are going to bump into at some point, and that's the level of yield. At $14, the yield will be 6.7% and that's OK, Once you start getting closer to sub-6, then with the risk free rate at 5% questions start to be asked about alternatives, especially with a manageable but quite high payout ratio. I'll be asking them myself! If BCE, for example, was still close to 8% then I could see myself taking some profit off the table and into stocks like that (yes, I know BCE has a high payout if you're not using FCF as the measure). But I own 10,000 SIA shares and would be needing to rebalance at that point anyway. Sometimes there are other factors than simply whether you like the stock.