It’s time for another dividend portfolio update! The month of June was a strong month for the stock market and not too shabby for our dividend portfolio. This was a welcome change from last month when we had the largest percentage loss ever for our portfolio.
While our largest holdings are still underperforming a few rebounded this month. Additionally, we had great action in some of our other holdings that helped to buoy our portfolio until those larger holdings regained some traction. One of the holdings that’s been on a tear is ABR, which was up over 15% the past month and 30% over the last 3 months.
In our last dividend portfolio update we mentioned the down market looked like it could be a good buying opportunity. Unfortunately for us, the funds were just not available for us to make any significant moves. We were able to add some shares to a couple of positions, but not in any significant amounts. Something small is better than nothing at all should be our motto.
Our dividend portfolio month ending June 2023:
| Symbol | Number of Shares | Change From Prior Month |
| ABBV | 13.994 | – |
| ABR | 31.374 | – |
| BKH | 3.2 | 0.033 |
| DOW | 9.894 | 0.132 |
| EPD | 5.113 | – |
| FRT | 6.304 | – |
| GIS | 5.282 | – |
| IBM | 3.312 | 0.004 |
| IRM | 13.136 | – |
| JEPI | 12.999 | 0.087 |
| JNJ | 6.321 | 0.047 |
| K | 2.144 | 0.019 |
| KHC | 5.413 | 0.061 |
| KMB | 2.127 | – |
| KO | 2.122 | – |
| MAIN | 11.737 | 1.061 |
| MMM | 9.59 | 0.125 |
| MO | 12.415 | – |
| MPW | 16.533 | – |
| O | 6.378 | 1.022 |
| QYLD | 32.884 | 0.327 |
| SCHD | 10.253 | 0.095 |
| SO | 2.173 | 0.022 |
| SPTN | 6.448 | 0.059 |
| T | 16.647 | – |
| VTRS | 13.574 | 0.123 |
| VZ | 2 | – |
| WBD | 3 | – |
| XOM | 5.348 | 0.045 |
In the month of June we received dividend payments from BKH, DOW, IBM, JEPI, JNJ, K, KHC, MAIN, MMM, O, QYLD, SCHD, SO, SPTN, VTRS and XOM. The dividend payments for the month totaled $70.18 all of which was reinvested into the underlying positions.
Once again investable cash was very tight. As such, we only added single shares to our positions in O (1) and MAIN (1) this month. In prior years we averaged about $250 a month in investable cash. So far this year are averaging $135 a month which is just horrible.
Until we can find a way to increase our investable cash flow it’s going to be slow going. Our hope was that things would pick up with camping season, but that just hasn’t happened. And if it hasn’t happened yet then it probably isn’t going to. So we will have to make due with what we can get for the foreseeable future.
Year to date we have received dividend payments totaling $346.03. This is a 43% increase over the same six month period in 2022. On a year over year basis our dividend portfolio distributions grew 22.63% for the month of June.
Nice solid growth!
| Stock | June 2022 | June 2023 | YOY Growth % |
| BKH | $1.82 | $1.98 | 8.79% |
| DOW | $6.49 | $6.83 | 5.24% |
| IBM | $5.14 | $5.43 | 5.64% |
| JEPI | $1.55 | $4.72 | 472.00% |
| JNJ | $6.90 | $7.47 | 8.26% |
| K | $1.19 | $1.25 | 5.04% |
| KHC | $2.05 | $2.14 | 4.39% |
| MAIN (m) | $1.77 | $4.82 | 172.32% |
| MMM | $10.59 | $12.70 | 19.92% |
| O (m) | $1.02 | $1.37 | 34.31% |
| QYLD (m) | $8.75 | $5.76 | -34.17% |
| SCHD | $0.00 | $6.75 | 675.00% |
| SO | $1.41 | $1.51 | 7.09% |
| SPTN | $1.30 | $1.37 | 5.38% |
| VTRS | $0.73 | $1.25 | 71.23% |
| WEBR | $2.01 | $0.00 | -100.00% |
| XOM | $4.51 | $4.83 | 7.10% |
| Total | $57.23 | $70.18 | 22.63% |
Of note for the month on the negative side is that we are still getting hit with WEBR being taken private. Additionally, last year QYLD paid out two distributions in June so the growth percentage is negative on a year over year basis.
On the positive side we had solid growth across the board. Our position in SCHD offset the loss of WEBR and will be a force in the future. Many of our positions have not been increased aside from the DRIP. So seeing nice growth in these positions just from reinvestment shows the power of compounding and patience.
At the month end for June 2023 our dividend portfolio was valued at $13,175.67. This is a 4.57% increase from May 2023. On a year over year basis our portfolio value increased by 20.78% from June 2022.
| Month | 2022 | 2023 | MOM % Change | YOY % Change |
| June | $10,908.57 | $13,175.67 | 4.57% | 20.78% |
| Month | Year | Portfolio Value | MOM % Change |
| May | 2023 | $12,600.35 | 4.57% |
| June | 2023 | $13,175.67 |
With the additional shares added to our positions and the reinvestment of all dividends our portfolio will provide projected annual dividend income (PADI) of $754 or about $63 per month on average. This is an increase of $10 per year or just under $1 per month on average from our May 2023 update. Additionally, our yield on cost(YOC) now sits at 5.62% which is flat from the end of May.
While we were not able to make many purchases in June we did just enough to finally get us over the $750 mark. That’s another small milestone step in the process of growing our dividend portfolio. It’s slow going but we look forward to making it into something significantly larger over time.
We mentioned in last months dividend portfolio update that we were considering exiting our position in either QYLD or JEPI. Our reasoning is to reallocate those funds elsewhere and to only have one covered call EFT instead of two.
As you can see that didn’t happen yet. It’s still on the table as an option, but we had too much going on personally last month and our finances took a back seat. We will revisit option this once we are in a better mindset.
Thank you as always for reading our blog.
Happy Investing!
Joe
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