Dividend Changes 2018 up to today

I realized that I don’t have an idea how much my dividend income this year increased due to dividend changes from companies in which I own shares.

I always adjust the dividend in my google docs file after I learn about a dividend increase or decrease, but I don’t have a total overview.

I did make the comparison based on the following rules to keep things simple:

– Only stocks are included which where in my portfolio at the end of 2017 which I now still own.

– Stocks I bought in 2018 and had a dividend increase since opening the position this year are excluded.

– I calculate the extra dividend income based on the number of shares I owned at the end of 2017.

– I use the dividend date I have in my google docs file, no double checks

– I use the following exchange rates to translate to EUR:

EUR/USD 1,15
EUR/GBP 0,90
EUR/CAD 0,66

Dividend increases:

1) Abbvie – +50,0% – €16,70 dividend per year extra
2) Aena – +69,7% – €16,02 dividend per year extra
3) Novo Nordisk – +34,4% – €8,53 dividend per year extra
4) DSM – +39,3% – €8,45 dividend per year extra
5) Think AEX EFT – +15,9% – €6,50 dividend per year extra
6) Simon Property Group – +8,1% – €4,17 dividend per year extra
7) Apple – +15,8% – €3,48 dividend per year extra
8) Bank of America – +25,0% – €3,44 dividend per year extra
9) Coresite Realty – +14,4% – €3,17 dividend per year extra
10) Unilever – +22,9% – €2,89 dividend per year extra
11) Royal Dutch Shell – +2,7% – €2,84 dividend per year extra
12) Aegon – +7,7% – €2,40 dividend per year extra
13) Royal Bank of Canada – +7,7% – €1,85 dividend per year extra
14) Omega Healthcare – +1,5% – €1,84 dividend per year extra
15) WDP – +5,9% – €1,50 dividend per year extra
16) National Grid – +3,0% – €1,49 dividend per year extra
17) l’Oreal – +14,5% – €1,35 dividend per year extra
18) ASML – +16,7% – €1,20 dividend per year extra
19) Coca Cola – +5,4% – €1,04 dividend per year extra
20) Johnson&Johnson – +7,1% – €0,83 dividend per year extra
21) Macquarie Infrastructure Company – 29,6% – -€10,23 dividend per year less
22) Wereldhave – -18,2% – €11,20 dividend per year extra less

Macquarie Infrastructure Company (MIC) and Wereldhave were the only 2 companies in my portfolio reducing their dividend. In both cases I decided increasing the number of stocks I own after a stock price correction as a result of the communication of the dividend cut.

MIC reduced dividend to internally fund the repurposing of a Tank Terminal after a client cancelled a contract. I considerred the selloff to big and decided and increased the number of shares MIC in 2018 from 7 to 42. Currently the yield is 8,7%.

Wereldhave is did decide to cut the quarterly dividend from €0,77 to €0,63. I decided to increase the number of stocks I own from 20 to 55. I bought Wereldhave shares, because I considerred this stock undervalued. Wereldhave has issues with a shopping mall owned in Finland which results in negative valuation adjustments. After the stock correction due to the communication of the dividend cut I decided that I feel that the underlying assumptions I had when starting my position are not changed and bought more shares. Yield is now 7,9%.

In total the dividend changes above are good for €68,36. When setting my target for this year of €2200 income I calculated with €76,80 in extra dividend due to dividend increases. This is 6% of the estimated yearly dividend income at the end of 2017. I’m around this number if I also take into account that some stocks I bought in the first part of 2018 also increased their dividend.

Starting 2019 I will track dividend changes in detail so I have more information available about the development of my dividend income, but for now I’m happy with 22 companies increasing their dividend. I have 6 stocks which normally tend to announce a dividend increase in the last quarter of the year so I’m looking forward to more dividend increases this year.

Interim dividend Flow Traders up 350%

This week Flow Traders (EPA:FLOW) did go ex-dividend. The interim dividend is up from €0,30 to €1,35 this year. This is increasing my estimated yearly dividend income with €52,50.

Flow Traders (EPA:FLOW) is a market maker mainly active in ETF’s. As a result of the high volatility in the market in Q1 the net profit increased a lot and due to the increased profit the dividend was increased. The Q1 net profit was up 705%. The volatility decreased a lot in Q2 and this results in less trading income. The half year net profit is up 386% from previous year.

I don’t consider Flow Traders a dividend growth stock, because it’s results are very dependent on the volatility in the market.

Yield on cost is 5,24%, but with current volatility I don’t expect this to increase. A decrease in dividend for next year is more likely. I bought this stock initially with the assumption to benefit from high volatility in Q2 also, but with the current relatively calm markets I have to reconsider if it’s worth holding Flow Traders (EPA:FLOW), but at the same time it’s hard to decide if it’s a easy sell, because I of course can’t predict when volatility is comming back.

DSM interim dividend up 32,7%

Last week I received an interim dividend of Dutch specialty chemicals company DSM (EPA:DSM). The interim dividend is up 32,7% from €0,58 to €0,77. Also DSM communicated to the plan to payout €2,30 over 2018 including the interim dividend. This is up 24,3% compared to the 2017 dividend.

I own 13 shares of DSM (EPA:DSM). So the interim dividend increase results in €2,47 in extra dividends. Increase of the final dividend will result in €3,38 extra dividend.

Expected Yield on cost will increase from 2,84% to 3,53%.

July Dividend Report 2018

Monthly Report July:

This month I received €98,24 in dividends compared to €63,65 last year. This is an increase of 54,3%! versus the July 2017 dividend received.

6 Companies paid me dividend this month. The grow of dividend income is mainly due to an increased position in Wereldhave and Coresite Realty. Also Coca Cola is a new position adding to the growth of my dividend income.

This month I did buy 23 shares Danone. I added Danone to my portfolio, because I wanted to add some defensive consumer goods companies to my portfolio from the eurozone. Also a few days later a doubled my position in Facebook from 8 to 16 shares. The Facebook share purchase is an opportunistic purchase for me. The share price dropped 20% after the publication of the 2nd quarter results.

The 2nd quarter numbers weren’t bad, but Facebook mentioned lower gross margin expectations for the near future. I still believe in the strong cashflow generating abilities of Facebook so I added a few more shares.

I ended the month with a portfolio value of €58.797.

Dividend Income – €98,24:

– Wereldhave €34,65
– Macquarie Group €20,25
– Coresite Realty €17,64
– Coca Cola €13,06
– EPR Properties €9,25
– Brown-Forman B €3,38

Purchase 23 shares Danone @ €65,65
Purchase 8 shares Facebook @ $176,40

Dividend Changes:
Bank of Americe quarterly dividend +25% ($5,16 extra yearly dividend)
Simon Property Group quarterly dividend +2,6% ($3,20 extra yearly dividend)

2018 Target Status:
I’m at €12.650 out of €18.000 deposit target (70,2%)
I’m at €1.252,86 out of €2.200 dividend received target (56,9%)
I’m at €5.400 out of €5.000 extra mortgage repayments (target reached)

Dividend Simon Property Group up 2,6%

Today Simon Property Group (SPG)announced an increase of their quarterly dividend from €1,95 to €2,00. This is an dividend increase of 2,6% versus the previous dividend and an 11,1% year-over-year dividend increase.

I have 16 Simon Property Group (SPG) shares so this dividend increase will result in an increase of my yearly estimated dividend income of $3,20.

After this dividend increase the yield on cost for me is 4,87%.

Camarillo Premium Outlets – One of Simon Properties assets

Dividend Bank of America +25%


Bank of America announced a 25% dividend increase. The quarterly dividend is increased from $0,12 to $0,15. This means the yearly dividend per share is up from $0,48 to $0,60.

I own 43 shares of Bank of America. So this dividend increase will increase my yearly expected dividend income with $5,16. Yield on cost will increase from 1,84% to 2,30%.

Last year Bank of America already increased their dividend with 60% so the yield on cost is improving a lot for Bank of America.

Purchase 8 shares Facebook

Today I doubled my position in Facebook from 8 to 16 shares, by purchasing 8 Facebook shares at $176,40.

It’s the 3rd time I buy Facebook shares:

1st purchase: 4 shares @ $162,71
2nd purchase: 4 shares @ $187,52
3rd purchase: 8 shares @ $176,40

The shares of Facebook are today almost 20% down as reaction on the 2nd quarter figures. I decided to increase my position in Facebook, because I still believe in the cashflow generating posabilities of Facebook. At the end of Q2 Facebook has 15,5 billion in cash and 30,7 billion in marketable securities.

The net cash provided by operating activities over the first 6 months of 2018 is 14,2 billion.

Despite slower than expected growth, expected by Facebook, I still believe in the cash generating capacities of Facebook. I started my inital position in Facebook with the idea that the cashflow generating ability is strong and it could potentially be a good dividend stock if ever Facebook decides to use the cashflow to payout a dividend.

I decided to be speculative and buy 8 more shares of Facebook. Just as dividend stocks I see this as an investment I will keep for many years.

Purchase 23 shares Danone at €65,65

Today I bought 23 shares Danone at a price of €65,65 per share.

Danone is a French food processing company. The main brands Danone is owning are Active, Actimel, Evian, Aqua, Volvic, Danone and Nutricia. To bring more balance in my portfolio I was looking for a company active in the food market and I did choose Danone.

Danone has a yearly dividend of €1,90 which brings the yield on cost on 2,89%. The dividend is paid once a year around the end of May. This purchase doesn’t increase my dividend outlook for this year, but it will add €43,70 to the dividends I expect to receive next year.

Mid-year review 2018


– Deposited €11.900 in my broker account compared to €9.000 target

– Repayed €5.400 extra mortage above regular monthly repayments vs. a target of €5.000

– Received €1.154 dividend vs. a mid year target of €1.100

– Overall I’m on track reaching my targets set for this year


I’m well above my target set for deposits to my broker account. This is mainly due to extra income as a result of extra salary as a result salary increases as set in the collective labour agreement (CAO) as negotiated by the unions. I never take these salary increase into consideration while determining my deposit account, because it’s my experience it can sometimes take months or even well over a year before the employers and labour unions reach an agreement.

Also some small tax changes resulted in a small increase of my income after tax and as a result a bit more spare money to deposit in my broker account, because I’m still happy with the savings balance I have and still do deposit all my spare money into my broker account.

Extra mortgage repayment
The target of repaying €5.000 extra above my regular monthly installments was this year more challening. Normally I have this amount almost available by the payment of holiday money from the company I work for in May and the tax return I receive from the Dutch government.

In The Netherlands it’s a common practice to receive 8% of your yearly salary in May as holiday money above the regular paycheck. This not changed in this year. Normally I receive a tax return in May, because interest on mortage is tax deductable in The Netherlands. It’s possible to receive every month 1/12th of this tax return, but I always prefer to receive the return fully in May.

This year my tax return is only halve of the return of previous year. This is because my assets did grow a lot last few years and in The Netherlands there is a tax on assets. As a result of the grow in value of my share portfolio and value of my house the tax on assets did eat a big part of my mortgage interest tax return.

I did still repay €5.000 in May as extra mortgage repayment by adding €1.500 of free income I would normally have added as extra deposit in my share portfolio, because I consider it important to repay my mortage much faster than the standard of 30 years we have in The Netherlands.

The extra mortgage repayment has besides a lower debt also as a result that my monthly payment to the bank is reduced with €30 a month.

Dividend income
Dividend income is on track with 52,5% of my full year target reached. I’m only slightly above 50% while i did receive yearly dividend from companies like Aena, ASML, WDP and Fortum. Based on current dividend levels my full year dividend income is €2.229. This full year dividend income is also taken into account the shares I for example bought this month and for which I won’t receive dividend in the first months of this year.

To reach my full year target I’m still dependable on extra shares I buy in the 2nd halve of this year else the set target of €2.200 to receive this year will be challenging to reach.

I did set a challenging target, but because of a dividend cut of Macquarie Infrastructure Company and euro-dollar exchange rate of over 1,21 compared to around 1,21 in the first halve of 2017 did result in on average 11% lower dividend income. On the otherhand I did mainly buy American shares in the first part of 2018 so I get 11% more shares just because of the dollar-euro exchange rate…

Fact Five

1) Largest Position: AbbVie €2.920

2) Largest yearly dividend income: Enbridge €132

3) Estimated dividend on a yearly basis €2.229

4) Largest sector: REIT 22,1% of portfolio

5) Largest currency: USD 59,8%

Wishlist for 2nd part of year

1) Increasing share of eurozone investments

2) Doubling position in Unilever to increase exposure in Consumer Staples sector.

3) Increasing ING and Aegon positions, because these stocks are now very small positions in my portfolio while I bought them to add a decent cashflow in my portfolio. Due to share price increases and new deposits ING (5,33%) and Aegon (5,35%) are now a bit too small positions.

4) Spending time on researching the German stock market. One of the biggest market in Europe, but I have no exposure in German stocks. I plan to reserve time to do research on the German market.

5) Analyzing some Euro dividend ETF’s to get some inspiration finding eurozone dividend stocks.

Final Thoughts
Reaching my dividend income target for this year will be a challenge. Also because some shares very high on my watchlist are euro shares 1 yearly dividend payment paid in the first part of the year. Buying these shares will not result in extra dividend income this year, but I not going to skip these shares if still high on my watchlist just because it will not help me reaching my short term dividend income taret, the long term is more important.

June Dividend Report 2018

Monthly Report June:

This month I received €222,43 in dividends compared to €53,59 last year. This is an increase of 315%!

Mainly new positions increased my dividend income this month. With Royal Dutch Shell, Enbridge, Think AEX ETF and Dominion Energy responsible for over 60% of my dividend.

This month I did use my monthly deposit to buy 12 shares AbbVie and 5 shares McDonalds. With the purchase of 12 shares AbbVie, AbbVie is now the largest position in my portfolio. So I did not open any new positions, but only increased current positions I have.

I ended the month with a portfolio value of €57.065.

Dividend Income – €222,43:

– Royal Dutch Shell €48,13
– Enbridge €39,92
– Think AEX UCITS ETF €24,44
– Dominion Energy €21,61
– Aegon €16,80
– DSM €16,51
– Johnson & Johnson €11,43
– Monmouth REIT €11,00
– EPR Properties €9,32
– Unilever €7,74
– Boeing €5,87
– McDonalds €5,23
– Bank of America €4,43

– Purchase 12 shares AbbVie @ $96,40
– Purchase 5 shares McDonalds @ $162,82

Dividend Changes:

2018 Target Status:
I’m at €11.900 out of €18.000 deposit target (66,1%)
I’m at €1.154,63 out of €2.200 dividend received target (52,5%)
I’m at €5.400 out of €5.000 extra mortgage repayments (target reached)