May was generally quiet with the market trending generally higher. With few pullback opportunities, I barely deployed new dividends so my cash position increased again. At least the turmoil I experienced moving from Loyal3 subsided and I could resume a more moderate pace. An upcoming election in the UK may present a buying opportunity on weakness in the GBP versus the US dollar. The S&P ended the month up 1.16% while my portfolio recorded a gain of 1.37%. For the year (so far), I’m ahead of the index by 4.07%
Headlines impacting my portfolio (bold are owned):
- 5/1 – DRE sells medical office portfolio to HTA
- 5/1 – TIS suspends dividend
- 5/4 – FHN to acquire CBF
- 5/30 – JNS/HGG.L merger completed (becoming JHG)
- 5/31 – KEY acquires HelloWallet from MORN
- Initiated position in SGAPY
- Added to IVZ
- Added to PWCDF (proceeds from sale of TIS)
- Added to DST
- Added to PLD
- May delivered an increase of 51.44% over May 2016 with the vast majority of this attributable to foreign dividend cycles not held last year.
- May delivered an increase of 38.94% over last quarter (Feb) for the same reason.
- Declared dividend increases averaged 8.89% with 48.02% of my portfolio delivering at least one increase (2 cuts – XRX and YUM; 1 suspension – TIS)
- YTD dividends received were 47.11% of total 2016 dividends which if the current run rate is maintained would exceed last year’s total in early November.
Note: with 14.6% of current dividends paid by foreign sources, the weakening US dollar is providing a tailwind with exchange rates i.e., increasing my return.
The MET spin (Brighthouse Financial – BHF) remains in regulatory review.
Agrium/POT, SGBK/HOMB remain pending