If a client wishes to entrust me with a Single Factor Strategy – Dividend mandate the first step would be to choose a current dividend yield and market(s) he would like to target. I would then analyse the current dividend yield, the historic dividend yield and then compile a portfolio, taking into account his investment horizon, diversification aspects, liquidity requirements and market cap. Periodic reviews would then follow, either at the date of the AGM and or the publication of financial results.
In the graph below an example for how the selection process would work if the client had a target dividend yield of 3%. All those companies above the threshold (red line) would be in the pot of possible inclusions. The arrows depict which companies are improving the dividend versus 2013.
Also see this post for other Single Factor Strategies I can implement for you.