Well, another month has come and gone and along with it came a personal record in dividends received in the month of September. As noted below, I received $821 in dividends during the month of September - that is $371 more than I received this same time last year. Of that $371 increase, 8.7% came by way of rate increases across companies that I held at the same time last year and 73.6% of the YoY increase is attributed to either entirely new positions I entered into during the past 12 months or positions I've added to.
As you can imagine, I am pretty excited to see the growth in dividend income that both my existing and new positions are providing. Some notable additions to the portfolio during the past 12 months include CLDT, XOM, SJM, LAMR, PSX, SO, TGT, UL. With the exception of TGT, I expect that all will be long term holdings. I purchased TGT as a value play for which I do not mind holding and collecting a healthy and safe dividend while I wait for price to recover.
September 2017
Here are some of my current thoughts a few of the positions (or lack thereof) reflected in this monthly summary:
National Oilwell Varco (NOV) - I initiated this position several years back and at the time if really seemed to be a "no brainer" investment at time in 2012/2013 however the initial success I had was short lived and as many are aware the company has struggled since the collapse in oil prices couple years ago. The company also had a fairly sizable backlog at one time connected to Brazil, however, the combination of the oil crash and corrupt politics led the company writing off $2B late in 2016. I am reluctant to sale this position at current valuation in hopes that cyclical nature of the industry plays out. I read an article earlier this afternoon with an optimistic outlook on sea rigs resuming work which would of course lead to greater sales for NOV to supply these rigs with vital equipment. Wait and see...
Boeing (BA) - I sold this (small) position prior to it reaching $200/sh and in hindsight appears to have been a mistake. The dividend rate increased > 30% versus same time last year! The aerospace and defense industries have been on a tear as of late and although I think the stock remains overvalued, I wish I would have just hung on to it and continue to build the position when valuation is more reasonable. I am sure I'll be an owner of this company again at some point in the future.
Vanguard Large-Cap Index Fund Admiral Shares (VLCAX) - this position is held in a account with Vanguard and was recently automatically converted to "admiral" shares from the "investor" share class. As a result, I've adjusted the 2016 share balance and corresponding dividend using the same conversion ratio Vanguard used to exchange the shares between classes.
What are your thoughts? Anyone else hanging on to NOV?
As you can imagine, I am pretty excited to see the growth in dividend income that both my existing and new positions are providing. Some notable additions to the portfolio during the past 12 months include CLDT, XOM, SJM, LAMR, PSX, SO, TGT, UL. With the exception of TGT, I expect that all will be long term holdings. I purchased TGT as a value play for which I do not mind holding and collecting a healthy and safe dividend while I wait for price to recover.
September 2017
Here are some of my current thoughts a few of the positions (or lack thereof) reflected in this monthly summary:
National Oilwell Varco (NOV) - I initiated this position several years back and at the time if really seemed to be a "no brainer" investment at time in 2012/2013 however the initial success I had was short lived and as many are aware the company has struggled since the collapse in oil prices couple years ago. The company also had a fairly sizable backlog at one time connected to Brazil, however, the combination of the oil crash and corrupt politics led the company writing off $2B late in 2016. I am reluctant to sale this position at current valuation in hopes that cyclical nature of the industry plays out. I read an article earlier this afternoon with an optimistic outlook on sea rigs resuming work which would of course lead to greater sales for NOV to supply these rigs with vital equipment. Wait and see...
Boeing (BA) - I sold this (small) position prior to it reaching $200/sh and in hindsight appears to have been a mistake. The dividend rate increased > 30% versus same time last year! The aerospace and defense industries have been on a tear as of late and although I think the stock remains overvalued, I wish I would have just hung on to it and continue to build the position when valuation is more reasonable. I am sure I'll be an owner of this company again at some point in the future.
Vanguard Large-Cap Index Fund Admiral Shares (VLCAX) - this position is held in a account with Vanguard and was recently automatically converted to "admiral" shares from the "investor" share class. As a result, I've adjusted the 2016 share balance and corresponding dividend using the same conversion ratio Vanguard used to exchange the shares between classes.
What are your thoughts? Anyone else hanging on to NOV?
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