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:
October 7, 2024
- €25.97 – Canadian Natural Resources Limited (TSE:CNQ)
October 8, 2024
- €48.01 – Global Equity Premium Income UCITS ETF (JGPI.DE)
October 9, 2024
- €447.00 – Neste Corporation (NESTE)
October 10, 2024
- €121.31 – Altria Group, Inc. (MO)
- €76.64 – Philip Morris International Inc. (PM)
- €25.54 – Best Buy Co., Inc. (BBY)
- €13.59 – Medical Properties Trust, Inc. (MPW)
- €24.51 – Global X SuperDividend ETF (SDIV)
Week 41: Total net dividends €782.58
Dividend income is reported after the deduction of taxes. Check more at my Monthly Dividend sheet.
My Portfolio's Transactions:
October 8, 2024
- I purchased 50 shares of JPM Global Equity Premium Income UCITS ETF (JGPI.DE) at €24.65 per share plus commission.
Based on the latest announcement, for November JGPI pays a dividend of $0.147. During the ten month period, JGPI has declared a total dividend of $1.3711, if the dividend remains at this level in the future, it will be $1.64532 per year. At today's exchange rate, that purchase 50 shares of JGPI will increase €52.59 of my expected annual net dividend income. After this acquisition my yield on cost is 6.22%, JGPI’s weight of my portfolio is about 1.72% and its share of future annual dividend income is approximately 2.31%. For now, this was the last acquisition of JGPI.
Portfolio Holdings News:
October 7, 2024
- Chevron Corporation (CVX) to sell Alberta assets worth $6.5B to Canadian Natural Resources; Chevron Canada Limited, an indirect subsidiary of CVX, announced that it and a related entity have entered into a definitive agreement to sell their 20 percent non-operated interest in the Athabasca Oil Sands Project, 70 percent operated interest in the Duvernay shale, and related interests, all located in Alberta, Canada, to Canadian Natural Resources Limited. The US$6.5 billion all-cash transaction has an effective date of September 1, 2024, and is expected to close during the fourth quarter of 2024, subject to regulatory approvals and other customary closing conditions.
- General Dynamics Corporation (GD) Electric Boat awarded ~$376.8M modification to previously awarded contract N00024-20-C-2120 for Lead Yard support, and development studies and design efforts related to Virginia Class submarines.
- Canadian Natural Resources Limited (CNQ) Announces Quarterly Dividend Increase; CNQ's Board of Directors have agreed to increase the quarterly cash dividend by 7% to $0.5625 common share, upfrom the previous quarterly cash dividend of $0.525 per common share. The dividend will be payable on January 3, 2025 to shareholders of record at the close of business on December 13, 2024.
- Canadian Natural Resources Limited (CNQ) Announces the Acquisition of Chevron’s Alberta Assets; CNQ announces that it entered into an agreement to acquire, subject to regulatory approvals, from Chevron Canada Limited (“Chevron”) its 20% interest in the Athabasca Oil Sands Project (“AOSP”), which includes 20% of the Muskeg River and Jackpine mines, the Scotford Upgrader and the Quest Carbon Capture and Storage facility. In addition, CNQ has also agreed to acquire, subject to regulatory approvals, Chevron’s 70% operated working interest of light crude oil and liquids rich assets in the Duvernay play in Alberta. The effective date for these acquisitions is September 1st, 2024 and are targeted to close in the fourth quarter of 2024. The aggregate consideration for these acquisitions will be a cash payment at close to Chevron of US$6.5 billion.
October 8, 2024
- PepsiCo, Inc. (PEP) Reports Third-Quarter 2024 Results; PEP reports Non-GAAP EPS of $2.31, a 5% decrease from the previous year but $0.02 more than expected. Revenue fell 0.6% to $23.32 billion, missing analyst estimates by $460 million. For 2024, Management now expects a low-single-digit increase in organic revenue (previously approximately 4% organic revenue growth) and at least 8 percent increase in core constant currency EPS.
- General Dynamics Corporation (GD) Electric Boat was awarded a $878M U.S. Navy contract action modification to a previously awarded contract for additional material supporting the planned Virginia Class submarines. GD also awarded a $349.8M modification by the U.S. Navy for long lead time material for Virginia Class Block VI submarines.
- Main Street Capital Corporation (MAIN) Announces New Portfolio Investment; MAIN completed a new portfolio investment totaling $74.4M to facilitate a majority recapitalization of Victory Energy Operations.
October 10, 2024
- Unilever plc (AMS:UNA) completes sale of Russian subsidiary; UNA has completed the sale of its Russian subsidiary to Arnest Group, a Russian manufacturer of perfume, cosmetics, and household products.
- RTX Corporation (RTX) awarded $736 million contract to produce AIM-9X missiles; Raytheon, an RTX business, was awarded a $736 million contract from the U.S. Navy to produce AIM-9X® SIDEWINDER® missiles. Work under this contract will take place in various locations within the continental U.S. through 2029.
- T. Rowe Price Group, Inc. (TROW) Reports Preliminary Month-end Assets Under Management for September 2024; TROW reported preliminary month-end assets under management of $1.63 trillion as of September 30, 2024. Preliminary net outflows were $4.9 billion for September 2024 and $12.2 billion for the quarter-ended September 30, 2024. Preliminary quarterly net flows include $0.8 billion of Manager-driven distributions.
- The Toronto-Dominion Bank (TD) Announces Resolution of AML Investigations; TD will pay approximately US$3.09 billion, largely covered by previous provisions of US$3.05 billion. The total assets of TD's two U.S. banking subsidiaries cannot exceed US$434 billion.
Articles that caught my attention:
- Undervalued Dividend Growth Stock of the Week: Invitation Homes (INVH) by Jason Fieber at Daily Trade Alert
- What to do with the TC Energy spin-off, on the Sunday Reads by Dale Roberts at Cut the Crap Investing
- UPS Looks Like It May Have Bottomed With A 5% Dividend Yield by Steven Fiorillo at Seeking Alpha
- TC Energy: South Bow Spinoff Unlocking Value, Improving Shareholder Returns by Dmytro Konovalov at Seeking Alpha
- Undervalued Dividend Kings: October 2024 by FerdiS at Seeking Alpha
- TD Bank’s Payout Ratios Are Rising – Is the Dividend Safe? by Dylan Callaghan at Stocktrades
- A Simple Strategy that Covers All Angles [Podcast] by Mike at The Dividend Guy Blog
- The Quality Dividend ETF, XDU:CA, That's Crushing SCHD In 2024 by Dale Roberts at Seeking Alpha
- How To Start Dividend Investing for Passive Income (7 Easy Steps) by Tom at Dividends Diversify
- How I'm hunting for UK dividend hero stocks by John Kingham at UKDividendStocks
- The One Chart That Keeps Me Up At Night by Leo Nelissen at Seeking Alpha
- 3 Industries Set to Explode When Interest Rates Drop by Chuck Carnevale at Daily Trade Alert
- 3.5 Reasons Why I Just Bought Bank OZK (And A Caveat) by Deep Value Ideas at Seeking Alpha
- Johnson & Johnson (JNJ) Dividend Stock Analysis by D4L at Dividend Growth Stocks
- Warren Buffett and Strategy Diversification by Dividend Growth Investor
- Weekend Reading – All Time Highs by Mark at My Own Advisor
Thanks for stopping by!
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