Week in Review 34/23

 

Welcome and thanks for reading!

In this review, I will make a summary of important and interesting news and events over the last week related to my portfolio holdings. Also, I will put together some interesting articles from other websites that caught my attention during the past week.

Received Dividends:

August 24, 2023

• €13.28 – WestRock Company (WRK)
• €82.49 – Royal Bank of Canada (RY)

August 25, 2023

• €17.77 – Eaton Corporation plc (ETN)

Week 34: Total net dividends €113.54

Dividend income is reported after the deduction of taxes. Check more at my Monthly Dividend sheet.

My Portfolio's Transactions:

August 21, 2023

• I purchased 30 shares of Realty Income Corporation (O) at $56.60 per share plus commission.

At today's exchange rate, that purchase 30 shares of Realty Income will increase €63.38 of my expected annual net dividend income and will increase my portfolio's projected annual net dividend income to €21,775.00. With purchase price $56.60 plus commission ($8.71) my yield on cost is 4.76%. After this acquisition, Realty Income’s weight of my portfolio is about 1.38% and its share of future annual dividend income is approximately 1.65%.

Portfolio Holdings News:

August 21, 2023

• Medical Properties Trust, Inc. (MPW) Decrease Quarterly Dividend; MPW declared a quarterly cash dividend of $0.15 per share, compared with its previous dividend of $0.29 per share.

• Lockheed Martin Corporation (LMT) Selected To Deliver 36 Small Satellites To Advance Space Development Agency's Communications Network; The Space Development Agency (SDA) awarded LMT a firm-fixed price agreement valued at approximately $816 million to build 36 Tranche 2 Transport Layer (T2TL) Beta satellites. T2TL is part of an overarching plan to strengthen deterrence with more resilient space architectures for beyond line-of-sight (BLOS) targeting, data transport, and advanced missile detection and tracking.

• Lockheed Martin Corporation (LMT) and Lockheed Martin Aeronautics was awarded a $347.44 million firm-fixed-price modification to a previously awarded indefinite-delivery/indefinite-quantity contract.

August 22, 2023

• Dominion Energy, Inc. (D) break ground on solar and energy storage project at Dulles International Airport; D and the Metropolitan Washington Airports Authority (MWAA) were joined by federal, state and local leaders today to break ground on the Dulles Solar and Storage project at Dulles International Airport. Once completed, it will be the largest renewable energy project ever developed at a U.S. airport. It will generate up to 100 megawatts (MW) of solar energy and store up to 50 MW of power, enough clean energy to power more than 37,000 Virginia homes at peak output. All the energy produced will serve Dominion Energy Virginia customers.

• Lockheed Martin Corporation (LMT) and Lockheed Martin Aeronautics has secured a not-to-exceed $606.8 million fixed-price incentive (firm-target) undefinitized modification to a previously awarded advanced acquisition contract.

August 23, 2023

• Kesko Corporation (KESKO) acquires the Danish builders’ merchant Davidsen and enters Denmark; KESKO has agreed to acquire Davidsen Koncernen A/S, one of the largest builders’ merchants in Denmark. The Davidsen acquisition is Kesko’s first step into Denmark’s sizable €5.7 billion building and home improvement market, which is more than 1.5 times the size of the Finnish market. The agreed debt-free enterprise value for 100% of the company is approximately €190 million (DKK 1,417.15 million), of which Kesko will now acquire 90%, which equals approximately €170 million.

• Johnson & Johnson (JNJ) Announces Final Results of Exchange Offer and Finalizes Separation of Kenvue Inc.; JNJ announced the final results of its previously announced offer to its shareholders to exchange their shares of Johnson & Johnson common stock for shares of Kenvue Inc. (NYSE: KVUE) (“Kenvue”) common stock owned by Johnson & Johnson. Pursuant to the exchange offer, Johnson & Johnson has accepted 190,955,436 shares of Johnson & Johnson common stock in exchange for 1,533,830,450 shares of Kenvue common stock.

August 24, 2023

• NCC AB (NCC) to construct a further 170 apartments in Danderyd, Sweden; NCC, in partnership with Aros Bostadsutveckling AB (Aros Bostad), is to construct 170 rental apartments in the third phase of the new Invernesshöjden residential block in Danderyd, north of Stockholm, Sweden. The order value is approximately SEK 300 million.

• Altria Group, Inc. (MO) Increases Quarterly Dividend; MO announced that Board of Directors voted to increase our regular quarterly dividend by 4.3% to $0.98 per share versus the previous rate of $0.94 per share. The quarterly dividend is payable on October 10, 2023 to shareholders of record as of September 15, 2023. The ex-dividend date is September 14, 2023.

• Lockheed Martin Corporation's (LMT) subsidiary awarded $2.77B Navy contract modification; The U.S. Navy awarded Sikorsky, a Lockheed Martin company (NYSE: LMT), a $2.7 billion contract to build and deliver 35 additional CH-53K helicopters – the largest procurement to date for this multi-mission aircraft.

• Lockheed Martin Corporation (LMT) was awarded a $315.94 million cost-plus-incentive-fee contract modification for options under a previously awarded contract for the design, development, build, and integration of equipment for missile flight test demonstrations and fielding.

• Royal Bank of Canada (RY) Reports Third Quarter 2023 Results; RY reports Non-GAAP EPS of C$2.84, beating analyst estimates by C$0.13 and increasing 11% year-over-year. Revenue grew 19.5% to C$14.49 billion, topping estimates C$1.43 billion. CET1 ratio was 14.1% an increase of 40 basis points from the prior quarter.

• The Toronto-Dominion Bank (TD) Reports Third Quarter 2023 Results; TD reports Non-GAAP EPS of C$1.99, beating analyst estimates by C$0.01 but decreasing 4.78% year-over-year. Revenue of C$13.01 billion beats analyst estimates by C$1.02 billion and increased 12.2% versus the same quarter last year. CET1 ratio was 15.2%, compared with 15.3% at the end of the prior quarter.

August 25, 2023

• Realty Income Corporation (O) Announces $950 Million Investment in Bellagio Las Vegas at $5.1 Billion Valuation; O and Blackstone Real Estate Income Trust, Inc. ("BREIT") jointly announced today that Realty Income has signed a definitive agreement to invest approximately $950 million to acquire common and preferred equity interests from BREIT in a new joint venture that owns a 95% interest in the real estate assets of The Bellagio Las Vegas.

Articles that caught my attention:

• Undervalued Dividend Growth Stock of the Week: Fifth Third Bancorp (FITB) by Jason Fieber, Mr. Free at 33, at Daily Trade Alert
• Inflation is sticky, while oil and gas stocks pump the free cash flow on the Sunday Reads by Dale Roberts at Cut the Crap Investing
• Waste Management Is A Superior Dividend Stock - I Want In by Leo Nelissen at Seeking Alpha
• Alimentation Couche-Tard Inc by SPBrunner at Investment Talk
• The Best EV Dividend Stocks For the Battery-Power Car Boom by ValueWalk at Sure Dividend
• Energy Transfer And Enterprise Products Offer High Yields, But Only One Is A Buy by Julian Lin at Seeking Alpha
• Stocks to Benefit from the AI Trend – Is It Relevant? [Podcast] by DivGuy at The Dividend Guy Blog
• Realty Income: Undervalued, Any Way You Look At It by Steven Bushong at Seeking Alpha
• Investing in the Dividend Aristocrats from 2013 by Dividend Growth Investor
• Brookfield Asset Management: If I Could Own Just One Company This Would Be It by Dividend Sensei at Seeking Alpha
• Cardinal Health, Inc. (CAH) Dividend Stock Analysis by D4L at Dividend Growth Stocks
• 3 Utilities For Long-Term Income by Dividend Power at Seeking Alpha
• Medical Properties Trust: More Financial Distress Ahead by Labutes IR at Seeking Alpha

Thanks for stopping by, have a nice next week!