It’s been almost two months since we have had a chance to give an update on our dividend portfolio. So far we have fared pretty well even as the markets have been extremely volatile. Since our last update the markets have experienced a correction, a war in Europe and the fed has started raising interest rates. Not exactly a great environment for price appreciation. But if you have cash on the sidelines there are a ton of opportunities.
While there is still a high level of uncertainty due to inflation and geopolitical issues the markets seem to be taking everything in stride. Now that the fed had started raising rates the picture is becoming a little clearer as to what their strategy is and because of this there has been a little bit of a relief rally off the market lows. It was a nice bounce but there is still too much going on in the world to be confident of a continued rebound.
Here is where our dividend portfolio currently stands:
| Symbol | # Of Shares |
| ABBV | 13.34 |
| ABR | 9.272 |
| BKH | 3.06 |
| DOW | 9.274 |
| FRT | 4.034 |
| GIS | 5.105 |
| IBM | 3.116 |
| IRM | 12.362 |
| JNJ | 6.108 |
| K | 2.055 |
| KHC | 5.078 |
| KMB | 2.033 |
| KO | 2.047 |
| MAIN | 3.011 |
| MMM | 6.11 |
| MO | 9.351 |
| MPW | 7.208 |
| O | 4.103 |
| QYLD | 21.338 |
| SO | 2.071 |
| SPTN | 6.163 |
| T | 13.6 |
| VTRS | 6.046 |
| WEBR | 50.348 |
| XOM | 5.123 |
Over the past couple of months we have continued to stick with our plan of adding to existing positions with one exception when we added 3 shares of MAIN to our portfolio. They are a monthly payer and at the time we purchased the price was right so we decided to establish a position.
Since our last update we have added more shares to the following positions: ABR(2), BKH(1), MMM(1) and VTRS(2).
We have also reinvested dividends via DRIP for ABBV, ABR, BKH, DOW, GIS, IBM, JNJ, K, MAIN, MMM, O, QYLD, SO, T, VTRS, WEBR & XOM.
Finding investable cash has been difficult over the last couple of months so we haven’t been able to add much to our positions as we would have liked. We are hoping that with camping season ratcheting up we will see more affiliate sales so we can pick up the pace a little. I would love to add more MMM and IBM at these levels.
As we mentioned before our portfolio has held up remarkably well even with the extreme volatility. Our portfolio stands at about $10,750 as of the last market close with a yield on cost of 4.61%. This is an increase of $765 and 0.04% YOC from our last update. Our portfolio will now provide forward annual dividends of $471 or just over $39 per month. This is a $25 or just over $2 per month increase from our last update.
One note regarding these numbers. They include the current dividend and yield of AT&T (T) which is scheduled to be cut in half once the spinoff with Discovery is completed. We anticipate this cut will negatively impact our annual forward dividends by $13 or $1 per month. It’s not a huge impact, but it is an event that will set us back a little. Additionally, we plan on holding the Discovery shares even though they will not be paying a dividend as we believe they have good growth potential in the long term.
As we watch events at home and around the world unfold we expect continued volatility. Our plan is to invest as much as we can, whenever we can, into our dividend portfolio. There are bargains to be had during this pullback and we believe the more we can invest now the better it sets up our portfolio for success in the long run.
Thank you for reading our blog. Happy investing!
Joe
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