I made some recent buys (VZ and PPL) and a recent sell (SRLP) as summer heats up. These recent moves were much less a re-balance and more of an “even steven”. While I lost dividend income with the sell, the other two purchases did put me ahead of where I was. This wasn’t something spontaneous as I was planning to reduce my position in SRLP since the beginning of the year. I was just waiting until I saved up some extra income to purchase other stocks that would make up for the dividend loss. At the same time, WFC had announced their 80% dividend cut but I will wait until the end of the month to post about monthly cuts. I have been bracing for a hit, though I wasn’t expecting it to be that big.
Last week, I sold 90 shares of SRLP. This sell reduced my dividend income from SRLP by $240.30. As a result, that amount was shaved off my yearly dividend income. Next, I purchased 125 shares of PPL Corp. Thus, PPL just became the 38th stock in my portfolio. This purchase added $207.50 to my forward yearly dividend income. Finally, I added to my position in VZ. I purchase an additional 20 shares of VZ which added $49.20 to my annual dividend income. My new total for VZ is $132.84 in forward yearly dividend income.
Altogether, my two new recent buys added a total of $256.70 to my yearly dividend income. If you subtract the recent sell, then I would have a net gain of $16.40 in dividends. Therefore, I came out ahead. My portfolio now stands to generate $10,683 in dividend income over the next 12 months. With the coming cut to WFC, the number will be around $10,525 in forward annual dividends. Still, considering I started the year with $9,764 in yearly dividends, I can say I am moving in the right direction. But this year is definitely much harder than many years prior. Nevertheless, I am in it for the long term and will continue to build my dividend dynasty!
So, what do you think of my recent buys (VZ and PPL) and a recent sell (SRLP)? Make any new purchases? Do you own WFC (or D)? If so, do you plan to sell with the impending cuts? Let me know in the comments below!
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