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Dividend King of the Week [BKH][4]

This week, six of the portfolio holdings ranked in the Top 10: BKH, MDT, MMM, MO, NFG, and PII.

TickerAccount Value
BKH1,402.70
MDT1,729.98
MMM2,514.36
MO2,339.72
NFG1,454.93
PII1,516.32

There is currently an overexposure to the following positions: FMCB, QCOM, and TDS. These tickers are not eligible for additional investment at this time. However, these tickers did not make it into the Top 10 and so we proceed unfettered. The smallest position above is BKH and it last traded at $53.95. Therefore, in order to invest a minimum of $250 in BKH, I need to purchase 5 shares on Tuesday, January 2, 2024. Below, is the purchase history and average cost calculation.

Dividend King of the Week [NFG][3]

This week, six of the portfolio holdings ranked in the Top 10: FMCB, MDT, MMM, MO, NFG, and PII.

TickerAccount Value
FMCB3,000.00
MDT1,720.32
MMM2,445.59
MO2,340.88
NFG1,218.72
PII1,513.76

There is currently an overexposure to the following positions: QCOM and TDS. These tickers are not eligible for additional investment at this time. However, these tickers did not make it into the Top 10 and so we can proceed unfettered. Of the six tickers currently in the portfolio and ranked in this week’s Top 10, NFG has the lowest account value. NFG last traded at $50.78. Therefore, in order to invest a minimum of $250 in NFG, I need to purchase 5 shares on Tuesday. Below, is the purchase history and average cost calculation.

Dividend King of the Week [NFG][2]

This week, six of the portfolio holdings ranked in the Top 10: BKH, FMCB, MDT, MMM, NFG, and PII.

TickerAccount Value
BKH1,420.12
FMCB2,970.00
MDT1,734.81
MMM2,460.54
NFG708.40
PII1,470.24

There is currently an overexposure to the following positions (tickers in bold made the Top 10 this week): FMCB, QCOM, and TDS. These tickers are not eligible for additional investment at this time. There is one clear loser, however, NFG! It has dropped well below the $1,000 I started the position with, and it is eligible for further investment.

NFG last traded at $50.60. Therefore, in order to invest a minimum of $250 in NFG, I need to purchase 5 shares on Monday. However, in addition to the typical weekly investment, the accumulated dividend total has crossed over the $250 threshold yet again. Lucky for NFG, there is an additional $260.08 available for investment. Now, I don’t want to go over on this number, so I’ll just use this amount to acquire 5 more for a total of 10 shares. Below, is the purchase history and average cost calculation.

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Dividend Stock of the Week [MDT][2]

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

TickerAccount Value
FMCB2,829.00
MDT1,348.95
MMM2,377.51
PII1,437.76

As of this writing, the portfolio no longer has a sector imbalance. However, there is currently an overexposure to the following positions (tickers in bold made the Top Ten this week): FMCB, MMM, MO, QCOM, and TDS. None of these tickers are eligible for additional investment at this time. No matter, the lowest amount belongs to MDT and it is eligible for further investment.

MDT last traded at $79.35. Therefore, in order to invest a minimum of $250 in MDT, I need to purchase 4 shares on Monday.  Below, is the purchase history and average cost calculation.

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Coronation! [KVUE]

On May 4, 2023, Johnson & Johnson [JNJ] split off a significant portion of its consumer healthcare business, representing approximately 17% of its revenue. On July 20, 2023, this new company declared its first quarterly dividend of $0.20, reminding investors why it is a Dividend King. Whaaaat?!

Well, it turns out there are, if not rules per se, considerations that determine whether a parent company’s streak of paying and increasing dividends shall be passed onto or inherited by a newly created company in a divestiture. Those considerations take into account whether the new company was a significant component of the parent company, whether it will pay a dividend of its own, the size and yield of both dividends before and after the divesture, and who knows what else. But here’s the thing: you and I don’t decide. In this case, S&P Global Inc [SPGI], themselves a Dividend King, made the decision.

On August 22, 2023, S&P Global made the announcement that this newly formed company would be added to the S&P 500 Dividend Aristocrats Index. A company does not make it into this distinguished list unless they’ve increased their dividend for a minimum of 25 years. Further, because JNJ is a Dividend King with a 61-year increase streak, one can logically assume that this entire streak, and not some lesser streak between 25 and 61 years, is what has been inherited. And thus, Sure Dividend has concluded that this newly created company is in fact a Dividend King and I see no reason to argue.

All hail Kenvue Inc!

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Dividend Stock of the Week [PII][3]

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

TickerAccount Value
FMCB2,850.03
MDT1,359.83
MMM2,296.55
PII1,136.33

As of this writing, the portfolio no longer has a sector imbalance. However, there is an overexposure to the following positions (tickers in bold made the Top Ten this week): BKH, FMCB, MMM, MO, NC, QCOM, and TDS. None of these tickers are eligible for additional investment at this time. No matter, the lowest amount belongs to PII and it is eligible for an investment of additional funds.

PII last traded at $87.41. Therefore, in order to invest a minimum of $250 in PII, I need to purchase 3 shares on Monday.  The 2023-11-18 trade post provides additional historical information for PII. Below, is the purchase history and average cost calculation.

Dividend King of the Week [BKH][3]

This week, five of the portfolio holdings ranked in the Top 10: BKH, MDT, MMM, PII, and TGT.

TickerAccount Value
BKH1,076.46
MDT1,342.49
MMM2,206.85
PII1,177.41
TGT1,314.60

As of this writing, the portfolio no longer has a sector imbalance. However, there is currently an overexposure to the following positions (tickers in bold made the Top Ten this week): FMCB, MDT, MMM, MO, NC, QCOM, and TDS. None of these tickers are eligible for additional investment at this time. No matter, the lowest amount belongs to BKH and it is eligible for an investment of additional funds.

BKH last traded at $51.26. Therefore, in order to invest a minimum of $250 in BKH, I need to purchase 5 shares on Monday.  Below, is the purchase history and average cost calculation.

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Dividend King of the Week [BKH][3]Read More »

Dividend Stock of the Week [PII][2]

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

TickerAccount Value
FMCB2,823.00
MDT1,270.92
MMM2,192.82
PII921.80

As of this writing, the portfolio no longer has a sector imbalance. However, there is currently an overexposure to the following positions (tickers in bold made the Top Ten this week): TDS, QCOM, FMCB, MO, MMM, NC, TGT, and MDT. None of these tickers are eligible for additional investment at this time. No matter, the lowest amount belongs to PII and it is eligible for an investment of additional funds.

PII last traded at $92.18. Therefore, in order to invest a minimum of $250 in PII, I need to purchase 3 shares on Monday.  Below, is the purchase history and average cost calculation.

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Dividend Stock of the Week [PII][2]Read More »

Coronation! [UBSI]

On St. Patrick’s Day 1839, the Northwestern Bank of Virginia opened a branch in Parkersburg. Now, I know what you’re thinking. That has to be a mistake, right? Everybody knows there are nine cities by the name Parkersburg in America and not a one of them in Virginia. There’s one in Georgia, Illinois, Indiana, Iowa, Mississippi, North Carolina, Oklahoma, Oregon, and West Virginia. There is no Parkersburg, Virginia!

Oh, Dear Reader. You were so quick to demonstrate your geographical knowledge of America, you missed a small detail that means everything – the year. Now it’s all coming back to you in a flash. Before June 20, 1863, the area we now lovingly refer to as the state of West Virginia was simply the northwestern part of a much larger state, Virginia. The city known today as Parkersburg, West Virginia was Parkersburg, Virginia and thus, a perfectly fine location to launch the first branch of the Northwestern Bank of Virginia. Of course, we could ask why they didn’t choose Bank of Northwestern Virginia as the name. But the more important questions are: ‘Is the bank still around?’ and, if so ‘What name does it go by today?’

The answer(s): Yes. It eventually became a part of United Bankshares, Inc and they just became a Dividend King.

All hail United Bankshares Inc!

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Coronation! [FTS]

In 1885, the Statue of Liberty arrives in New York Harbor. That same year sees the formation of the St. John’s Electric Light Company in the province of Canada now known as Newfoundland and Labrador. Some 40 years later, the company is renamed, not Electric Light Orchestra, but Newfoundland Light & Power Co. Limited. In 1987 it becomes the first wholly owned subsidiary of a holding company named Fortis Inc, created specifically to hold Newfoundland Light & Power, but also to expand and diversify. More decades pass and yada, yada, yada…. that holding company announces their 50th year of consecutive dividend increases.

All hail Fortis Inc!

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