dividend-incomelisted

# Dividend Income Review Read-only. `reference/READ-ONLY-POLICY.md` (hard rule) and `reference/RESEARCH-STANDARDS.md` (data efficiency, freshness, disclosure) apply. Works over whichever broker(s) `BROKERS.md` names active — resolve each capability below against `reference/BROKER-CAPABILITIES.md`. ## Steps 1. **Holdings + prices.** Equity holdings capability, then one batched LTP call if that payload lacks current prices. 2. **Dividend data.** Fundamentals (single-name / screener) capability for yield and payout metrics — Groww-only among the wired brokers today; date-anchored `WebSearch` fills gaps — trailing-12-month DPS, declared-but-unpaid dividends and their ex-dates. Don't deep-search obvious non-payers; note them as such. 3. **Compute**, per holding and in total: projected annual income (trailing DPS × qty, labeled trailing-based, never an assured payout); yield on current value *and* yield-on-cost (DPS ÷ avg buy price); upcoming ex-dates in the next quarter as a dated list. 4. **Sustainability flags** on the payers that dominate projected income: payout ratio vs. earnings *and* vs. free cash flow — a dividend covered by earnings but not FCF is funded by working-capital or debt tricks, not real cash generation; cut/skip history; deteriorating fundamentals funding the payout. A high yield produced by a falling price is a warning — say so when the data shows it. 5. **Fit against the plan.** Where `PORTFOLIO-PLAN.md` states an