1. The stock market appears richly valued, with REITs and utilities outperforming tech stocks since the June CPI report, reflecting a defensive, yield-oriented investor shift. 2. The author plans to allocate dividends to the iShares 0-3 Month Treasury ETF for stability and also buy 8 dividend stocks, including a brand-new position. 3. The dividend growth projection involves analyzing management's earnings growth expectations, payout ratios, historical dividend growth, and potential obstacles.