Fourth week of December 2022

Merry Christmas to everyone. We had a very busy week as we sold most of our positions to pay back our mortgage. After we have paid back the mortgage we will return to market. We will not list all the sold positions since there were several dozen of those. We haven't calculated profits from sales yet. 

Dividendwise week was quite good. We received following dividends

• 62,34 € from Blackrock
• 89,32 € from Kesko
• 10,67 € from Dominion Energy
• 53,26 € from Manulife Financial Corp

 Total amount of dividends was 215,89 € which is a pretty good amount. 

 

Third week of December 2022

This week was quite active. We received dividends in 4 days out of 5 and we continued to sell our positions to pay back our mortgage. 

The order of sales depends on several factors. We try to optimize the dividend income and taxes from profits from sales. So if ex-date is near, we wait until ex-date has passed. As we have sold many positions with good profit we will sell only positions which have unrealized losses this year. So remaining positions which have unrealized profits will be sold in January. We also consider dividend yield, so we are selling positions with lowest dividend yield first and we try to leave best dividend payers to portfolio. That way we can accelerate rebuilding the portfolio as much as possible. 

We sold following positions 

• 96 shares of Cibus Nordic Real Estate @142,27853 SEK
• 500 shares of Telia Company @26,9031 SEK
• 1137 shares of Vodafone @0,8361 £
• 8 shares of Genuine parts @178,761 $
• 20 shares of Dominion Energy @68,53608
• 70 shares of Coca-cola @62,95378 €

 We received following dividends

• 24,53 € from Coca-Cola
• 16,72 € from Whitestone REIT
• 54,17 € from Main Street Capital
• 1,05 € from Gladstone Investment Corp
• 10,86 € from Walgreens Boots Alliance
• 29,87 € from Washington H. Soul Pattinson
• 42,63 € from National Australia Bank
• 4,51 € from Owl Rock Capital
• 8,30 € from Aapple Hospitality Reit
• 17,55 € from Exchange Income
• 24,69 € from Realty Income Corp
• 79,95 € from Duke Energy

Total amount of dividends this week was 314,83 €, which is a really good amount. The dividends from Main Street Capital are unusually large because our bank failed to carry out participation to DRIP. Generally we are very unhappy with our current bank's performance. Paying back the mortgage is one activity to loosen ties to current bank. Without mortgage it is easier to change bank if we find better one.

Second week of December 2022

This week was uneventful. Only notable event was that finally our bank finalised Main Street Capital's November dividends. Normally the DRIP has taken one week to be sorted out, but this time it took 22 days. Otherwise it was very quiet except a few dividends

Dividends received:

• 1 share of Main Street Capital worth 36,07 €
• 15,60 € as a remainder from Main Street Capital DRIP
• -5,32 € for taxes from Main Street Capital DRIP
• 34,80 € from Johnson & Johnson
• 49,81 € from CSR Limited
• 18,73 € from Southern Co
• 20,43 € from Exxon Mobil

Total amount of dividends was 170,12 €. 

First week of December 2022

First week of December is over. As we have fully paid back the investment loan we no longer have monthly repayments. Instead, we made extra mortgage repayment with cash received from sales. 

This week we closed our position in Lazard. This was unfortunate purchase in the first place. Somehow,  when investigating the company we missed the information that company has another headquarter is in Bermuda. In taxationwise this is problematic as the total taxation is really heavy for us. Also the changes in US taxation at 1st of Jan 2023 accelerated the sales. After 1st of Jan we would have paid 10% witheld tax from gross sale price of the share. These are reasons why we ended up correcting our mistake rapidly. We realized 8.8% annualized net profit with this investment. Even though we made profit the investment was a mistake. We sold Lazard @36,94141 USD

Received dividends:

• 11,61 € from MSC Industrial (November)
• 15,55 € from LTC Properties
• 20,51 € from Gladstone Commercial Reit
• 0,71 € from Gladstone Investment Corp BDC
• 1,47 € from Sabra Healt Care Reit
• 18,62 € from Bank of Montreal
• 10,95 € from A&W Revenue Royalties
• 14,22 € from Transalta Renewables
• 6,53 € from Cibus (December)
• 9,04 € from Cohen & Steers Infrastructure
• 53,94 € from Canadian Utilities
• 69,44 € from Enbridge Inc

Total amount of dividends this week was 232,59 €. In November we received 645,42 € in dividends, which is less than our 725 € monthly target for 2022. Our bank failed to deliver some dividends from Main Street Capital in November. 

December dividends are now at 138,95 €.