A dividend-led view on what businesses are built to last

14 April 2026

A dividend-led view on what businesses are built to last

Artificial intelligence has become a new fault line in equity markets. As investors debate how quickly AI could reshape entire industries, valuations have moved sharply, often on broad assumptions rather than company specific analysis.

For dividend led investors, the question is more straightforward. AI can change how work is done, but that does not automatically mean it replaces the economic role a business plays. Automating activities is not the same as displacing the function a company performs within a wider system.

When uncertainty rises, markets tend to sell first and differentiate later. That can blur the distinction between businesses that may be genuinely vulnerable and those whose role in the economy is more durable than current market pricing suggests.

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The author

Joris Franssen

j.franssen@vanlanschotkempen.com

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Disclaimer:
Van Lanschot Kempen Investment Management NV (VLK Investment Management) is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and as such is subject to supervision by the Netherlands Authority for the Financial Markets. This document is for information purposes only and provides insufficient information for an investment decision. This document does not contain investment advice, no investment recommendation, no research, or an invitation to buy or sell any financial instruments, and should not be interpreted as such. The opinions expressed in this document are our opinions and views as of such date only. These may be subject to change at any given time, without prior notice.

Dividend Equities: general risks to take into account when investing in Dividend equity strategies
Please note that all investments are subject to market fluctuations. Investing in a Dividend Equity strategy may be subject to country risk and equity market risks, which could negatively affect the performance. Under unusual market conditions the specific risks can increase significantly. Potential Investors should be aware that changes in the actual and perceived fundamentals of a company may result in changes for the market value of the shares of such company. The value of your investment may fluctuate, past performance is no guarantee for the future. Do not take unnecessary risks. Before you invest, it is important that you are aware of and are informed about the characteristics and risks of investing. This information can be found in the available documents of the strategy and/or in the agreements that are part of the service you choose or have chosen.

Profile of the typical investor in Dividend equity strategies
The strategy may be suitable as a core or supplemental investment for those:

interested in a convenient way of gaining exposure to international equity markets;
seeking long-term growth of their investment (5 years or longer);
who can bear the possibility of significant losses, especially in the short term; and
who have experience with the risks and rewards of equity investing.

Il y a un dicton en néerlandais, Kom verder, qui ui signifie beaucoup de choses, et c'est notre philosophie d'entreprise. Il reflète la façon dont nous travaillons avec nos clients, mais aussi la manière dont nous dirigeons nos entreprises participantes pour créer de la valeur pour les actionnaires grâce à un engagement actif.

Risque de perte en capital. La valeur des investissements et des revenus qui en découlent peut évoluer à la hausse comme à la baisse. Les investisseurs sont susceptibles de ne pas récupérer l’intégralité de leur investissement initial. Les performances passées ne présagent pas des performances futures et ne sont pas constantes dans le temps.