This week I bought 24 shares Wereldhave at a price of €22,31. I now have in total 100 shares Wereldhave. Wereldhave is currently paying a dividend of €0,63 per quarter so the current yield is 11,3%.
Wereldhave is a Dutch REIT opearting retail property. The price of Wereldhave is under pressure for some time as Wereldhave is mainly operating shopping centers within residential area’s of medium sized cities. Investing in these kind of shopping centers is not popular at the moment.
Based on the high discount to NAV and high yield I consider this price level a good level to make a small purchase and reduce the average purchase price of my Wereldhave position.
With this purchase I increase my yearly estimated dividend income by €60,48.
Today I purchased 21 shares Wereldhave at a price of €603,88 including fee’s. As a result of this purchase I now own 76 shares Wereldhave against. My average purchase price declined from €34,33 to €32,79.
With this purchase I add €52,92. to my yearly estimated dividend income. Yield on cost of my Wereldhave shares is 7,68%.
At the begin of February Wereldhave announced a dividend reduction to fund internal projects. The dividend was reduced from €3,08 to €2,52. A reduction of 19%. As a result of the dividend cut the share price went down from €40 to €30. A correction of 25%. At a price of €30 the expected dividendyield is 8,4%.
Today I decided to buy 35 shares Wereldhave at a price of €30,73. The expected yield on cost of these shares will be 8,2%. With this purchase I add €88,20 in yearly expected dividend income to my portfolio.