The first half of 2019 is a wrap. Overall I'm pleased with the portfolio's start to the new year and the YTD dividend income YoY performance. See below for the details and some statistics for the mid-year review.
June Dividend Summary
New positions in the last twelve months that contributed to the volume increase in income generated from the PIV portfolio include DOW and the "new" FOXA that has commenced with paying its semi-annual dividend in June rather than in April. In addition my position in DIS is now much larger than it was last year due to the large asset purchase from the "old" FOXA, the details of which can be found here.
YTD Dividend Chart for 2019
2019 Q2 YTD Rate vs. Volume Impact
Per the summary above, 2019 Q2 dividend income is up 25.2% versus the same period last year. Thus far, the 2019 YTD dividend rate increase is at 2.9% versus the 2018 annual rate increase of 6.7% which I noted in the December 2018 dividend summary that you can read about here. At the end of the Q1 the favorable rate inrease stood at 8.5% so you can see the Q2 unfavorable YoY rate decrease of -1.2% was a drag on YTD performance. Activity in the second half of the year will hopefully reverse the recent trend and align much close to what the portfolio experienced in 2018. With respect to the volume variance, the YTD increase of 26.4% is trending below the 2018 annual volume variance of 33.8%, certainly nothing to complain about. With market valuations a bit high by traditional standards, I don't foresee the favorable volume variance for the portfolio matching or exceeding 2018.
Portfolio Value as of July 16, 2019
Portfolio value (excluding cash): $309,438
# of positions: 51 positions in individual companies + 4 mutual funds
Current GICS Allocation Chart
June Dividend Summary
New positions in the last twelve months that contributed to the volume increase in income generated from the PIV portfolio include DOW and the "new" FOXA that has commenced with paying its semi-annual dividend in June rather than in April. In addition my position in DIS is now much larger than it was last year due to the large asset purchase from the "old" FOXA, the details of which can be found here.
YTD Dividend Chart for 2019
2019 Q2 YTD Rate vs. Volume Impact
Per the summary above, 2019 Q2 dividend income is up 25.2% versus the same period last year. Thus far, the 2019 YTD dividend rate increase is at 2.9% versus the 2018 annual rate increase of 6.7% which I noted in the December 2018 dividend summary that you can read about here. At the end of the Q1 the favorable rate inrease stood at 8.5% so you can see the Q2 unfavorable YoY rate decrease of -1.2% was a drag on YTD performance. Activity in the second half of the year will hopefully reverse the recent trend and align much close to what the portfolio experienced in 2018. With respect to the volume variance, the YTD increase of 26.4% is trending below the 2018 annual volume variance of 33.8%, certainly nothing to complain about. With market valuations a bit high by traditional standards, I don't foresee the favorable volume variance for the portfolio matching or exceeding 2018.
Portfolio Value as of July 16, 2019
Portfolio value (excluding cash): $309,438
# of positions: 51 positions in individual companies + 4 mutual funds
Current GICS Allocation Chart
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