February saw DOW 20,000 being attained (again) then forging a streak of 12 days of record closes. Uncertainty remains in areas of the ability or time required to effect change through the legislative process – in particular tax reform, healthcare and border adjustment taxes. This month The S&P gained 3.72%. while my portfolio recorded a gain of 0.05%. The index had a decent earnings season (until TGT) as its tailwind. After two months, my performance lags the S&P by 1.95%.
Headlines impacting my portfolio:
- 2/6 – BUSE acquiring FCFP
- 2/7 – AMC prices secondary
- 2/10 – BX buys AON HR assets
- 2/14 – PYPL buys TNCGF
- 2/17 – KHC announced pursuit of UL
- 2/21 – PNC acquires US assets of ECNCF
- 2/21 – JNJ buys Torax (pvt)
posts under consideration for Mar are My 2017 Coca-Cola strategy outlined
- Added to LB prior to ex-div (a little gamble on earnings that failed)
- Added to SBUX on weakness prior to ex-div
- Added to CHD prior to ex-div and the day before the UL/KHC sector bump
Subsequent to the KHC/UL announcement, I made the determination to divest my UL holdings. Unfortunately over the holiday weekend the offer was withdrawn so my opportunity to sell at a premium evaporated. So – no sale.
- February delivered an increase of 24.89% over February 2016. 12.96% of this increase is attributable to purchases with the remaining 87.04% a result of dividend increases.
- February was flat over the prior quarter (actually $0.01 lower due to exchange rates and a cut).
- Declared dividend increases averaged 8.06% with 30.64% of my portfolio delivering at least one raise (1 cut – YUM).
- Dividends received were 14.3% of total 2016 dividends and if the current run rate is maintained would exceed 2016 around October 15th.
The MET spin (Brighthouse Financial – BHF) remains pending.
Agrium/POT, JNS/HGG.L remain pending