Second week of January 2023

Gladstone Commercial Corporation cut its dividends and it will cut our dividends approximately by 8,40 €. 

We bought this week:

• 17 shares of Gladstone Investement Corp BDC @13,12882 USD
  
• 11 shares of Nordea Bank @10,81545 €

We received following dividends:

• 0,78 € from Whitestone REIT
• 3,87 € from Main Street Capital
• 17,25 € from Pepsico
• 48,18 € from Leggett & Platt. 

Total amount of dividends was 70,08 €. We have now received most of our dividends from old portfolio and future dividends will be very small while we are rebuilding our portfolio.

 

First week of January 2023

First week of 2023 is over. We received good amount of dividends from already sold holdings and we continued our rebuilding program. We bought back 13 shares of Sampo @50,00538 €, 12 shares of Whitestone REIT @9,89333 USD and 10 shares of MSC Industrial Direct @81,90 USD. We made one small speculative purchase and bought 100 shares of Fellow Bank @0,3757 €. These puchases should increase our passive income approximately by 80 €.

We received following dividends:

• 5,69 € from Genuine Parts
• 34,60 € from Iron Mountain 
• 9,17 € from Methanex
• 21,83 € from Telus
• 28,40 € from Brookfield Infrastructure
• 23,57 € from Regency Centers 
• 66,33 € from Saratoga Investment
• 40,78 € from MidCap Financial Investment
• 0,31 € interests
  

We received total of 230,68 € passive income, which would had been just perfect for our original 1000 €/month target. 

End of the year 2022

The Year 2022 is over. For us it was quite a ride. We reached our yearly dividend goal in September and our portfolio grew as planned. We also set a target for 2023 to receive 1000 € dividends in our accounts per month. Unfortunately the interests started to raise more rapidly than we expected. At the beginning of the year we had more than 260 000 € debt and that was fine with the interest rates what we had back then. As we knew the fact that interests will raise we accelerated payback of our loans already in early 2022. We would have been comfortable with interests between 1-2%. We made a decision that if Euribor 12 breaks the 3% level we will pay back all our debts. We tried to negotiate with our bank to find out if there could be some arrangement which would benefit both but we failed. As Euribor 12 broke the 3% level at the end of November we decided to get rid of our loan and repay everything. Not only we got rid of every loan we also got a chance to rebuilt and organize our holdings optimally between different accounts. Earlier our holdings were not so well organized between the brokers and accounts.

Investment portfolio

Asset class	31st Dec 21	31st Mar 22	30th Jun 22	30th Sep 22	31st Dec 22
Cash	6 396,97 €	7 107,92 €	6 761,52 €	6 443,06 €	2774,08€
Investment funds	9 834,18 €	9 831,25 €	11 267,08 €	9 458,80 €	9458,80 €
Coop memberships	1 500,00 €	1 500,00 €	1 500,00 €	1 500,00 €	1 500,00 €
Shares	227 828,13 €	241 359,58 €	233 072,96 €	237 740,19 €	12 027,66€
Gross investment portfolio	225 543,86 €	245 559,28 €	259 799,02 €	252 610,56 €	25 760,24€
Investment loan	16 990,76 €	14 225,10 €	13 365,98 €	12 446,07 €	0 €
Net investment portfolio	228 568,52 €	245 573,92 €	239 244,58 €	242 695,98 €	25 760,24€

We have set some new targets for 2023 as we abandoned the target of 1000 € monthly dividends in 2023 for obvious reasons. Our new targets are to have a investment portfolio of 50 000 € by end of the year. Dividendwise we would like to reach level of 2018 dividends. 

We have already started rebuilding our portfolio and we bought 29 shares of Spirit Realty Capital @39,63448 USD, which is 0,41552 USD lower than we sold these. 

We received following dividends

• 24,98 € from Main Street Capital
• 0,70 € from Gladstone Investment Corp BDC
• 19,96 € from Gladstone Commercial Reit
• 22,20 € from Gilead Sciences Inc
• 8,79 € from Cohen & Steers Infrastructure fund
• 10,65 € from A&W Royalties 
• 13,84 € from Transalta Renewables
• 20,00 € from Citycon
• 27,46 € from Alpine Income Properties 
• 41,69 € from Simon Property Group

Total amount of dividends received last week was 190,27 €. In December we received 1034,43 € in dividends, which was 3rd best month in 2022. Usually December has been good indicator of the next year's level of dividends in general so our original target of 1000 €/month would not have been too hard to reach. Investment income received in 2022 was totally 11 690,84 €.