Trades

Dividend King of the Week [GRC][2]

This week will count as the third of three ‘off’ weeks intended to restore the $250+ per week pace of investment due to the acquisition of SJW. However, there is over $250 ($520.59 to be exact) of uninvested income in the account and I am going to deploy it.

This week, five of the portfolio holdings ranked in the Top Ten: FMCB, GRC, MDT, PPG, and SJW.

TickerAccount Value
FMCB3,225.00
GRC1,035.09
MDT1,739.64
PPG2,571.27
SJW1,093.64

The lowest amount belongs to GRC. Not coincidentally, there is a sector imbalance in the portfolio and the only sector eligible for additional investment is Industrials, the sector to which GRC belongs. GRC last traded at $33.39. Therefore, being careful not to go over the $520.59 available, I will acquire 15 shares of GRC on Monday. Below, is the purchase history and average cost calculation.

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Dividend King of the Week [GRC][2]Read More »

Dividend King of the Week [GRC]

Ordinarily, this would have been the third of three consecutive ‘off’ weeks intended to restore the $250+ per week pace of investment. The ‘off’ weeks became necessary with the creation of a $1,000 position in SJW Group on April 15th. However, my account is being transitioned from TD Ameritrade’s platform to that of Charles Schwab next weekend. The account will not be accessible during that time. So, instead, I am letting next weekend be the third and final ‘off’ week.

This week, four of the portfolio holdings ranked in the Top 10: FMCB, PPG, SJW, and TGT.

TickerAccount Value
FMCB3,033.00
PPG2,525.48
SJW1,055.07
TGT1,580.40

But guess what? None of the above matters because it is time to add a new position to the Portfolio for the Ages!

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Selling a Covered Call [LEG]

Once the market order to sell my shares of MMM executes, I will deploy those proceeds to purchase 256 additional shares of LEG via a limit order for no more than $13.95 per share. Any shortfall of the MMM sale proceeds will easily be covered by the $148.09 in uninvested income in the portfolio. The purchase of 256 shares will bring the LEG position total to 300 shares – the perfect amount required for selling 3 covered call contracts:

Selling to Open: 3 December 20, 2024 $15.00 Call Options [Symbol: LEG241220C15]

Limit Order Price:  Credit of $1.50 per share

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Closing a Position [MMM]

MMM’s stated intention of reducing their dividend to approximately 40% of adjusted free cash flow means they will no longer be a Dividend King and no longer qualify for inclusion in the Royal Dividends Empire (please see the related 2024-05-02 post)1. The position can be closed out for a small gain of approximately 3%. I will summarize the performance after the sale, in a separate post.

I am submitting a market order to sell all 36 shares of MMM. The proceeds should be approximately $3,500.00. The cash will be used to make another purchase. Stay tuned for my next post.

  1. Sure Dividend has independently reached the same conclusion in removing MMM from their list of Dividend Kings. ↩︎

No Purchase This Week [22]

This week is the second of three consecutive ‘off’ weeks intended to restore the $250+ per week pace of investment. Read on to find out which position would have been most worthy of new money.

This week, five of the portfolio holdings ranked in the Top Ten: BKH, FMCB, MDT, PPG, and SJW.

TickerAccount Value
BKH2,746.86
FMCB2,970.75
MDT1,674.54
PPG2,473.04
SJW1,016.50

Once again, there is no surprise here, the lowest amount belongs to SJW and there is nothing that would preclude additional investment into that position, other than that of it being an off week. SJW announced earnings on Friday and the stock sold off enough to negate the gains over the previous four days. Why?

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No Purchase This Week [22]Read More »

No Purchase This Week [21]

This week is the first of three consecutive ‘off’ weeks intended to restore the $250+ per week pace of investment. Read on to find out which position would have been most worthy of new money.

This week, four of the portfolio holdings ranked in the Top Ten: FMCB, PII, PPG, and SJW.

TickerAccount Value
FMCB2,949.06
PII1,660.41
PPG2,487.10
SJW1,031.13

No surprise here, the lowest amount belongs to SJW and there is nothing that would preclude additional investment into that position, other than that of it being an off week. In fact, when I resume the $250 weekly installment, I wouldn’t at all be surprised if SJW is the recipient for a few weeks.

Dividend King of the Week [MMM][9]

This week, four of the portfolio holdings ranked in the Top 10: BKH, FMCB, MMM, and PPG.

TickerAccount Value
BKH2,740.74
FMCB2,940.00
MMM2,366.78
PPG2,641.76

The lowest amount belongs to MMM which last traded at $91.03. Therefore, in order to invest a minimum of $250 in MMM, I need to purchase 3 shares on Monday.  But that’s not all!

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Selling Shares of Solventum Corp [SOLV]

For every 4 shares of MMM held at the close of business 2024-03-18, shareholders received 1 share of SOLV plus cash in lieu of any fractional shares on 2024-04-01. The Royal Dividends portfolio received 6 shares plus $32.44 in cash. Using a limit order to sell for no less than $69.55 per share, I have sold those 6 shares and closed out the position for 6 x $69.55 = $417.30. The proceeds from this sale plus the cash equals $449.74 and will be treated as dividend income received from MMM for performance purposes.

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