The new year began with a flourish shrugging off the December selloff and recovering most of the losses. With the month exhibiting minimal turbulence outside some earnings misses, my purchases were essentially toppers to existing holdings (except one) – all in the first week. The S&P rose 7.29% while my portfolio lagged a little rising 6.48%. In reality, I was probably even but my cash position was abnormally high as I failed to deploy the cash received from a merger (I exclude cash from my investing positions). I expect this will normalize during February.
- Lost GBNK, GNBC and SHPG via mergers
- Added TAK and regained IBTX via mergers
- Added new position BDXA
- Increased VGK, MSCI, SF, JPMV, HTH, GNTY, EBSB, EWA, DGX, CUT, CL, BNCL and BHBK positions
While my primary focus resides on dividends with the goal being a rising flow of dividends on an annual basis, I’m placing less emphasis on the quarterly numbers as the number of semi-annual, interim/final and annual cycles have been steadily increasing in my portfolio.
- January delivered an increase of 19.63% Y/Y, the impacts being dividend increases, special dividends and reinvesting merger cash proceeds into the portfolio.
- January delivered a 0.83% decrease over last quarter (Oct) – the impact of two dividend cuts.
- Dividend increases averaged 8.84% with 20.81% of the portfolio delivering at least one increase (including 2 cuts (GE, OMI).
- 2019 Dividends received were 9.33% of 2018 total dividends putting me on target to exceed last years’ total in October.
I updated my Goals page to provide a visual of these numbers. Based on Mr All Things Money’ s instruction set with a conversion to percentages. My code only updates when the monthly Y/Y number is exceeded. Otherwise, the prior year actual is used.
2019 conversion remains pending
GE‘s rail unit to spin then merge with WEB. This was restructured in January to generate more cash for GE – end result being a taxable event for shareowners
GE to spin 80% of the health business
NVS proposed spin of Alcon scheduled for shareholder approval Feb 2019
On Oct 4,2018 MSG filed a confidential Form 10 to spin the sports business
XRX merger with Fujifilm
cancelled (still being litigated).
BNCL to merge into WSFS
BHBK to merge into INDB
To escape January’s dividend cuts relatively unscathed is monumental. Back in October my expectation was for the effects to linger through the first quarter. Now I can just put my head down and focus on the long game.