Time flies when you are having fun and feels like April was over before we could even get ourselves completely settled in and back on track.
As the markets struggled for direction so too did our dividend portfolio. At times it seemed like April was going to be a banner month as earnings overall were turning out somewhat better than expected. Then our account took a hit with the earnings release for Abbvie (ABBV) which is the largest position in our portfolio. The subsequent drop in the stock price was a bit odd as the numbers were actually pretty good, but the erosion in the sales of their flagship drug after losing patent protection was just too much and the stock sold off.
Over the last couple of trading days the markets rallied and ABBV recovered a small portion of the drop. Our portfolios roller coaster ride ended slightly in the positive for the month which we are always happy to see. Of concern going forward is the continued volatility, continued fed incompetence and yet another bank failure which could have further negative impact on the economy and the markets.
Our dividend portfolio ending April 2023:
| Symbol | # Of Shares | Change From Prior Month |
| ABBV | 13.854 | – |
| ABR | 30.361 | 2.000 |
| BKH | 3.167 | – |
| DOW | 9.762 | – |
| EPD | 5.018 | – |
| FRT | 6.304 | 0.069 |
| GIS | 5.25 | – |
| IBM | 3.272 | – |
| IRM | 13.136 | 0.153 |
| JEPI | 12.811 | 0.104 |
| JNJ | 6.274 | – |
| K | 2.125 | – |
| KHC | 5.352 | – |
| KMB | 2.127 | 0.018 |
| KO | 2.122 | 0.016 |
| MAIN | 10.616 | 0.013 |
| MMM | 8.465 | – |
| MO | 12.415 | 0.242 |
| MPW | 16.533 | 0.542 |
| O | 5.334 | 0.022 |
| QYLD | 31.93 | – |
| SCHD | 10.158 | – |
| SO | 2.151 | – |
| SPTN | 6.389 | – |
| T | 16.405 | 1.000 |
| VTRS | 10.451 | – |
| VZ | 2 | 2.000 |
| WBD | 3 | – |
| XOM | 5.303 | – |
In the month of April we received dividend payments from FRT, IRM, JEPI, KMB, KO, MAIN, MO, MPW and O totaling $43.69. As usual all dividends were reinvested into the underlying positions.
Year to date we have received dividends totaling $212.90 which is almost a 72% increase over the same four month period in 2022! We are not raking in the big bucks yet, but the growth story continues to be huge!
April is typically one of our slower months for distributions, but with the volatility going on it was a nice time to add some shares to existing positions and maybe start a new one. This is exactly what we did once we got some cash and the opportunity to put it to work.
During the month we added to our growing position in ABR(2) and the overreaction to the earning release for AT&T gave us an opportunity to add to our position in T(1). This overreaction brought down shares of Verizon (VZ) as well so it was a good opportunity to start a new position and we acquired 2 shares that come with a dividend yield of just under 7%.
On a year over year basis for the month of April our dividend distributions increased by a hefty 35.47%!
| Stock | April 2022 | April 2023 | YOY Growth % |
| FRT | $4.32 | $6.73 | 55.79% |
| IRM | $7.65 | $8.03 | 4.97% |
| JEPI | $0.00 | $5.66 | 466.00% |
| KMB | $2.36 | $2.49 | 5.51% |
| KO | $0.90 | $0.97 | 7.78% |
| MAIN (m) | $1.08 | $2.38 | 120.37% |
| MO | $8.42 | $11.44 | 35.87% |
| MPW | $2.09 | $4.64 | 122.01% |
| O (m) | $1.01 | $1.35 | 33.66% |
| QYLD (m) | $4.42 | $0.00 | -100.00% |
| Total | $32.25 | $43.69 | 35.47% |
As you can see we had some excellent growth from our positions in FRT, MAIN, MO, MPW and of course O. Even our positions in IRM, KMB and KO grew nicely just from organic growth through reinvestments as we haven’t added new shares to those positions in a very long time. Also of note is that QYLD declared a dividend in April, but they don’t pay it until the beginning of May. So we took a hit on our year over year number because of that and still came out looking good.
At the end of the month our dividend portfolio was valued at $13,215. This is a 21.37% increase from the end of April 2022 and a 2.01% increase from the end of March 2023.
| Month | 2022 | 2023 | YOY % Change |
| April | $10,888.93 | $13,215.45 | 21.37% |
| Month | Year | Portfolio Value | MOM % Change |
| March | 2023 | $12,955.32 | 2.01% |
| April | 2023 | $13,215.45 |
With the reinvestment of all dividends received and the purchase of additional shares our dividend portfolio will now provide projected annual dividend income (PADI) of $730 which is just under $61 per month on average. This is an annual increase of $15 or just over $1 per month on average from our last update. Additionally, our yield on cost (YOC) is now sitting at 5.59% which is an increase of 0.04% from the end of March.
As we head into May we expect to see some nice growth as we have come a long way since May 2022. We won’t receive a distribution from VZ as we purchased after the ex-dividend date, but we will get two distributions from QYLD which will juice the numbers a little. We will also get a distribution from our largest holding ABBV and that is a nice thing to see as it is the only position we have that is over the $20 per quarter mark.
We are also inching closer and closer to the $750 PADI threshold and if things stay on track we should hit it in the next couple of months. We haven’t really set a goal for a year end PADI amount as our investable income for this account is sporadic at best. Getting to $750 will be an exciting accomplishment and once we hit it we will focus on reaching the magic $1k mark. That will be something! Reinvesting a thousand dollars a year into this account without needing to lift a finger, yes Please!!
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Happy Investing!!
Joe
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