Cory Diary : Dividend Q1 '24

Dividend received $12,096 topping my cumulative number from half million achieved goal last year. To clarify, Dividend is basically from equity. I have stopped tracking interests return outside Equity due to too numerous transaction which i find time limited. Q1 is a slow quarter due to banks yet ex-dividend and main bulk of dividends are not expected to fall into here.

Portfolio returns wise YTD is doing slightly better than STI Index though not much significant. It would have been better without reduced Tesla which I plan to hold long term. Other US stocks do helps to mitigate it. The strategy to use bank to hedge against high rate is paying off again this quarter.

Main bulk of warchest or reserve are still locked in t-bills, ssb, fd and cash as I am currently happy with the amount of dividend I can get already. With the large allocation in bank to mitigate reits allocation, i feel is too risky to expand further. I am also thinking of reducing some high risk reit counter allocation further if opportunity arises. Maybe due to age and high expenses, i may not pounce big even if market crashes as the current interest rate returns are quite attractive. I even holding on to the USD cash which i got from Google sales.

So what i do now on the portfolio ? Crusing mode. yeh.

Cory Diary

2024-04-14

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Cory Diary : Year 2023 Dividends

As the year comes to a close soon, I believe there is no more Ex-dividend coming to the last weeks. This tells you I am not tracking such coming event anymore. Just managing stocks I am comfortable and through sizing. When we take care of this, the annual dividend will care for themselves.

For this year $71,959. This is new record in my dividend journey. The pace has slowed down from my earlier expectation as I embarked in strengthening SSB, FD and T-Bills instead of injection of fresh fund in Q4. Below is the annual growing trend and the cumulative figure.

For Year 2024 entry, the max dividend size has also come down some as I prepared some cash warchest for new opportunity. Hopefully this will be build back-up to grow the dividend trend further by end of 2024. I have been in the process to do some clean up to the portfolio to de-risk. Sasseur Reit has been cleared. Sabana Reit almost done after queueing for days. Some trimming of counters to re-balance.

The Portfolio breakdown as follow as we expanded more into bank and US Stocks.

Cory Diary

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Cory Diary : Q3 Dividend Updates

This should be quick post. Q3 Dividend update.

YTD 58K dividend from Equity. On Total Returns after recent day sell down due to another rate hike fear, XIRR is around 8% plus. Still expecting to finish strong this year despite war erupting between Isreal and Hamas. It may have impact if the escalation hits Iran. 

I am expecting Isreal to take back control of Gaza quickly and maybe handover to Fatah. The hope is Saudi to sign an agreement with Isreal to stop the fund pipeline that fuel conflict.

Cory

2023-1011

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Cory Diary : 1st Half 2023 Dividend

As we reach the halfway point of 2023, it's time to assess our dividend performance. Over the past few months, we have seen several REITs issuing private placements or rights issues, which has resulted in some of the REIT dividends being pulled into the first half of the year. Consequently, we can expect a lower score in the second half.

Note : Duel Scale Chart

Despite this, the overall dividend performance has reached a new high. I have recently subscribed to shares in Aim Apac and plan to do the same for iReit. Year-to-date, the portfolio has achieved a return of over 7% XIRR, mainly driven by the rebound in stocks such as Tesla, Microsoft, and REITs. However, looking at a two-year perspective, the foreign REITs listed on SGX in the portfolio have not performed as well, and their dividends have fallen short. One of the key reasons behind this is the strength of the Singapore dollar and the decline in office property values in those countries.

Cory

2023-0701

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Cory Diary : Dividend 2023 Q1

As someone from a family with a history of below-average income, securing a strong financial foundation is a top priority for me to prevent future generations from moving backwards. This means avoiding risky business ventures or jobs that take up too much time, as it's up to future generations to build upon the progress I've made.

To achieve financial security, my focus is on a steady job with a good salary and saving as much as possible. Once I have built up a solid savings base, my next income stream will come from dividend investing, which I have been doing for many years. In the first quarter of 2023, I received $19,000 in dividends, as shown by the ex-dividend guidance from the stock exchange.

Year 2023 Q1 Ex-Dividends

Looking at the trend of dividends received over the years below, I am off to a good start for 2023 Q1 and hope to continue this success throughout the year.

Stock Dividends

Cory

2023-04-14

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Cory Diary : Equity and Dividend Report YTD

Ytd Dividend collected $56k which is significantly higher than previous year. Reason I will mention more below paragraphs. Dividends collected have crossed $542k incl. delist agt. $491k without. Sigh ! did not cross half a million. That's fine because with dividend strategy it will. Just a matter of time.

Bao Jiak !

This few weeks I have been focusing on driving dividend yields through better companies reporting such as Ascendas. This counter is interesting because I was averaging down as the market get beaten up such that I have significant excess in Ascendas shares. And when the market turned bull I start selling excess in small stages. Soon after the report is above my expectation so I kind of bought back some partially at higher level from my sell price. The mindset is the Ascendas after reporting gives me a better picture overall of the business which deserve larger allocation.

In-addition I have decided to do some foray into SGX USD Reits such as Primes and United Hampshire which have high yields. Most of this money comes from earlier Tesla allocation reduction and some cash injection. This help to boost the dividend further as they were obtained before Ex-dividends but should be balanced out by some capital loss short term in overall portfolio performance. Last year I did kind of reverse, selling shares before Ex-Dividend to lock-in capital gains. There is no right or wrong in trying to re-balance the portfolio to a low level of risk to manage Sleep.

Scoped some Cdg too as I thought the result is pretty good and the initial positioning helps to motivate me to explore further. This year I have been expanding my counters for wider diversification while reducing position such as Tesla to slightly lower which still in net gain position from cost basis.

Lastly, I decided to clear out Daiwa Log Tr from the Portfolio. Fundamentally the business is ok but the exchange rate is a pain. Further with no end in sight that the Japanese gov will change course so I thought is time to release the stock without much losses. There are still Elite and iReit which also face the same rate issue however their gov have not problem reining in inflation when needed imo.

As usual, please dyodd as in sharing my thoughts and not advise.

Lastly, join me in Telegram.

Cory

2022-0819

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Cory Diary : 1H'22 Dividend

Quick update on the 1H'22 Dividend Report for Equity Portfolio. A brief on the portfolio changes. The portfolio no longer has bond since FCL matures. All elements of bonds are now supported through CPF and SSB. In addition, the yield of the portfolio is not perfect due to growth stocks within pulling down the overall score since they do not have dividends or minimal.

Last year the dividend reduced a little due to portfolio focus on capital gains and then switch out to dividend stocks that have just ex-dividend due to portfolio re-balancing. This year we do not have such situation. The strategy of the portfolio is to use Dividend for cash flow which also act as backstop in market downturn while buying lows.

This year as expected, the equity dividend is backup on rising trend due to larger portfolio size from larger total gain last year. Year-to-Date dividend $32,407. With this trend, potential dividend cumulation towards $500,000 by year end will be a nice milestone. Obviously with dividend play is a matter of time this will arrive provided we ever started. Feeling cheeky.

Cory

2022-0628

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Cory Diary : Dividend Report 2021

This is added post to yesterday financial report.

For Year 2021, Dividend received is $53,431 which is slightly lower than Year 2020. This is mainly due to selling stocks before Ex-Dividend and Buying stocks in the 2nd half of the year where most stocks are already Ex-Dividend. Accumulated dividend is $434,000 and if we include delist distribution will be $486,000. The trend of increasing dividend will continue to be maintained.

For Year 2022, the current planned dividend will be $65,000. This year Fed may raise interest rate which typically put pressure on Reits however the portfolio will continue to ride it out as long they have pricing power. The main concern will be Interest Rate initiated Recession. And if this happens, high yield Reit tends to suffer more than others. 

If we reinvest $60,000 annually @5% will be $3000 increase in dividend. Depending on yield maybe higher or lower. The rest of balance will come from dividend growth and capital recycle/injection. Every year is different and may react differently.

Cory

2022-0103

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Cory Diary : Investment Allocations

US Market allocation is now tripled of Chinese Shares. Reduced Bank allocation also implied dividend expectation will be lowered this year- and due to timing, some of the Reits shares are bought after Ex-dividends. We probably see a much larger jump on the dividend next year. Interestingly, Reit allocation increased largely with cash from bonds sales.

With the addition of CPF and Gov Securities into the equity overall returns. Overall dividend and interests returns will now be interesting. First of all the new additions are theoretically capital guaranteed. And this also complement with the annual cash top-up strategy.

Secondly, is a well known fact ( may no be some ) that upon age 55, we can withdraw cash from CPF after FRS amount is allocated for RA compounding in which this is already achieved. To be exact, we can't withdraw as cash for living expenses with CPF MA nevertheless for simplification, we have them as part of income since we can use it for medical expenses.

Therefore, returns measurement can look into overall perspective now considering capital is now allocated to CPF through top-up except for money reserved for RA. And if the liquidity is a concern, SSB is at max which can help to tie me over the 3 years till age 55 withdrawal. 

With that, it makes more sense on tracking all the dividends and interests together. Furthermore, CPF interests rate is good enough and do not see the need to risk invest them in equity market. It will become basic safety net retirement returns. And so there will not be dividend derived from it. This also help me to focus.

With that,

For detail monthly equity dividend return link is here.

There is still the last piece of the puzzle which is the Property Rental Returns. An important asset for enhance retirement support component. Right now, will let it stays as it is. 

Cory

2021-1118

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Cory Diary : Sep'21 Play

This month is quite tough for capital gain investors. Basically returns shredded quite an amount due to China onslaught of capitalist attributes in Tech, Edu and Prop. And this week we have Energy crisis hitting industrial lands. On America side we have the ongoing foreplay of debt limits which is like never ending story. Think is time they remove it once and for all before we ended up in comatose status.

To be fair, dividend investor got it too in that we probably see more than 2% shredded from our investment value return perspective. If they are core holding, as always riding through it. This aren't our first anyway and it will not be our last. The only consideration is when we can trigger our cheap buys happily.

Dividend Returns

Dividend wise YTD $39,686. Theoretical max $67k for the year. This bring our Dividend Returns to $471, 975 over 16 years plus. In early years, say Year 2005 the dividend just $2492. This stay below $10k for 5 years. Which bring to the point of learning curve hand-in-hand with the compounding effect of returns rolled up. 

Why take such Risk ?

Some people throw most into a super stock. The fact of the matter is if 35% failed, that's mean 35 out of 100 people will be condemned. If 40 stays flat then remainder 25 MAYBE becomes multi-millionaires. This is illogical as life is not 1's or 0's. Many of those 35 who failed can still have very good life without doing this bets.

Portfolio Returns

As for Portfolio returns YTD, the US shares basically cover the Chinese shares losses thanks to Tesla and AMD run up. Which implies the lowered portfolio value is borne by sgx dividend stocks this month and that is ok as the only sure thing is dividend. Maybe not so for those who play heavily in margins.

In net 5.85% Profit YTD after yesterday market falls specifically on Reits.

Cheers

Cory

2021-1002

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Cory Diary : Dividend Report Aug'21

Market Jittery

With the craze going on in stock market recently specifically on the Crash of Chinese Stocks and then compounded by the Fed comments on tapering, the market on 8/19 hits another significant dive. Interestingly, US stock market seems to be holding out well while rest of the world suffers. Hopefully tomorrow, the market will stabilize.

Chinese Shares Exposure

With the portfolio just within combined 2% range allocation of Alibaba early this year and HS Tech (recent), we are seeing double digits percentage losses. This has been mitigated by US stocks but as today the furious sale is really a little too much. Many Retailers who are well vested in Chinese shares especially Tech and Edu stocks, and have averaged down a few times they likely see drastic reduction in their portfolio. To them this is probably worst than Year 2008 GFC.

STI Market

Fortunately STI is still swimming much above the waterline even though Banks have been shaken. Decided to buy back some bank shares which were sold earlier before ex-dividend therefore missing out some dividends. This time round the sell and buy back journey is well worth it as we make back more than double the dividend missed. However, this will reflect a lower dividend score.

August Dividend 2021

Looks like a good chance on the way to hit 60k by 2021. And with some of the bank shares bought back, this will be better supported. The condition is just have to keep holding it. 

Yes, HOLD ON Dividend Player .... LOL ... ( ... ). Touch wood.

Cory

2021-0819

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Cory Diary : Dividend/Interest Nov Report

We are few weeks away before the year ended and I think is a good time to update where we are on dividend this year. There are a number of Preferential Offerings, Scrips, Merge and Delist. So to put the base comparison right, distribution from merge and delist are tracked separate as the amount is quite large and won't be meaningful or sustainable annually.

Therefore for below table for Accordia is only dividend from regular distribution. Ascott Trust distribution is a little tricky which I have accorded Ascendas-h tr cash compensation in year 2020, so will be excluded from Year 2020 annual dividend as well.

Do note as investing is fun for me, some of the counter can move in and out of the portfolio in large amount as I learn the rope through experience and experiment. So table 1 is by all means a reference capture at a particular point in time while dividends being collected through out the year. 

Table 1: Dividends in % of Year 2020 Sustainable Total Dividend

This year we see some some swings in the portfolio which I think my have help net some shares before Ex-dividend positively. However, the portfolio also suffers sizeable loss of dividends due to cap on the banks. Furthermore the rebates by Retail malls reduced the dividends of the portfolio as well.

Despite all this, glad to find that by end Nov, for sustainable dividend portion, the portfolio is already way past last year annual dividends. And this is done with the portfolio in good positive returns so far.

I have also bought more Bonds this week with growing cash level. So yield wise will pull the portfolio lower but I think good balance is important. The last time I did this we encounter Covid-19 turbulence immediately after. Hopefully we don't have to go through the same experience of Mar 2020 again.

Currently still busy making sure Year 2021 will have a good chance to beat Year 2020 at risk mitigated level. Considering current cash level, beating this year achievement will not be too hard.

Cory

2020-1206

Cory Diary : Dividend Report Oct'20 - Mid

This month dividend report is not so regular reason being I have to wait for AGT to pay me the dividend which is kind of huge as they paid off most of the cash they received from the golf sales through dividend. It would have be even gigantic have I not sold 40% of my shares to reduce my exposure prior to Ex-Dividend.

The good news is on NAV perspective there is still about 6 cents to be collected. I don't have the experience to tell how much will be left for shareholders before AGT completely close shop. I am looking for 3 cents at least.

Obviously Year 2020 will not be the right best measure for 2021 dividend plan. A one time deal as I split the investment across a number of stocks to compensate for the DPU loss from AGT delisting.

As it current stand, $88,845 for Year 2020 YTD. Excluding AGT with it's regular dividend that are loss the rough theoretical value of $55K by year end. 

And yes there is some ready cash now to boost the dividend further. Any recommendation for Kiasu and Kiasi ... investor ?

Cory

2020-1016

Cory Diary : Dividend Report Aug'20

STI Market has been rather listless lately while DJIA continues to move up. Many investors probably feel is so unfair and give up on the local market. Frankly, I am also tempted to try the US Market as well but just slight. 

Why I say this is due to manage "Risk". I actually have my largest fortune dependent on US Market just not personal equity investment. The primary is my job which pays me well for the time I invested. There is a lot of room to play around on how I can balance my family and work. The other is I do have some stock allocation listed in US Market. So every time US Market do well, I benefits too.

The other mitigation of Risk is my property investment. Due to that I tend to avoid equity counters of developers. And if the property markets goes down I could encounter double whammy I thought hence the avoidance. So psychologically I am always try to find peace with myself whether is effective or not that's different story. So as you can see, not only am I Kiasu and Kiasi, sometimes I also can KiSiao ! 😁

Not surprisingly I feel my salary income has to be mitigated as well through dividend investing. So far dividend received is $42K YTD. Theoretical Max $58k.

With 4 months to go, I am excited for Year 2020 Closure. Someone said the Year will end well. I hope so ! But I am ok if it doesn't !

Cory

2020-0901

Cory Diary : Trying to be Optimistic

To be frank I was kind of frustrated this week. 

Ascendas Reit ( Must have Stock for Dividend Player which I blogged previously) continues to run up this week to another all time high after selling half my position because I do not think market sentiment can be so exhilarating. I could have a couple of grands more.

I also decided to clear Ascendas-iTrust batch for a quick trade forgetting the result is coming up at the end of the day. It did a good price jump the next day to my dismay. What am I thinking ? Which probably cost me another grand.

MAS also announced 60% cap of bank dividends for Year 2020 to my surprise despite the banks are well within their capacity to provide more. This will decrease my dividend by a mile. This dividend cap affects market sentiment and the moment I bought MCT, the counter starts its correction.

Hong Kong virus situation hits another waves and social distancing is reimposed. This affects MNAC operation which show no emotion in reflecting into the stock price. This is bad because I just bought another batch for the yield. 

To top it off, PRC Covid-19 cases start climbing and CRCT weaken some for me to scope a batch of stocks. As I was deliberating to sell days after as there is a little gain in the backdrop of the broad market weakness, I did not execute it at that moment. The price then move to negative territory. .. ...

Not forgetting my Diary subject line, 

I manage to sell a batch of Ascendas Reit at $3.62 on ex-dividend day and bought back at $3.53 before the day ends. I am still not yet near my original allocation though since I first sold.

As for Ascendas-iTrust, the price weakened, and the delta is now within a few days fluctuation. Don't feel so bad now considering I have fewer counters to manage, and cash raised.

MAS calls for dividend cap put a dent on my dividends this year as Banks are core position in my portfolio. It could have been worst like Banks in UK where they could not distribute even a single cent for Year 2020.  With the reduced dividend from SG Banks, this put my investment at lower risk in current Covid Climate. I am not perfectly happy for the exchange but nonetheless there is some positives out of it at a time when many businesses are struggling.

Company like SIA with state support and major rights issue, I am not sure is sufficient as market speculation is Year 2024 full recovery. People who still buy a stake in it, i salute you for your "National Service" but I think valuation can be create or destroy out of thin air and not with our Real Money in such circumstances. Is just passing of wealth from one investor to another that's all.

The HK government has relaxed their Covid measures probably due to business pressure, and my stake in MNAC is smallish. But I feel personally in such congested location, Malls are the way to go when we recover so the future is what we should think about. Same applies to CRCT on yield front. So I am ok to hold on for cash flow for long term play in a diminishing yield portfolio..

Lastly,  MCT purchases are at relative low price. Despite the price went lower after, feel serene that I am able to hold another Maple counter after I sold this last year. Long term likely hard to go wrong.

What an unforgettable  week ! Key lesson is as blogged earlier that we need to diversify as a retailer and whatever largest holding we have, expect the unexpected.

Cory

2020-0802

Cory Diary : Dividend Report Jun'20

Recession or not for Dividend Investor, the mentality is always Dividend please come. This is true till we are hit by Covid-19 Black Swan event which continue to play out 6 months into the crisis.

One of the key believe is that as long the business is stable, dividends will be relatively stable. It is "Bond like". Is a time where most of what Cory believes get challenged. It  is as seems someone up there do this purposely.

Do we change ? Not if we are relatively diversified in our strategy. For example CMT is one of core stock. Despite that it is less than 10% of the portfolio. So with recent income retention by CMT, the Portfolio dividend continues to churn.

In fact, with such dynamic market, this is where new gem can be found into one's basket of stocks. So when there is new opportunity arises, instead of expanding CMT, we can secure a new dividend stock. There are many ways to do this including tapping more of the warchest.

As of now YTD, dividends received $24,990. There is more to come before Jun end. The theoretical dividend roughly $60,500 which is about 14% increase by year end compared to Year 2019. Total dividend received since tracking $350,340. Cheers, Covid or Not

Cory
2020-0615

Cory Diary : When higher Dividend has a Price

Just when I thought 2016 will be the year my Dividend will finally dipped since embarking on dividend strategy, year-to-date I have hit another all time high (updated for privacy) . So what happened ?

Thanks, but not thanks, due to "anticipated" Neretal special dividend of 15 cents but with more than 20 cents dent to the Share price after ... a heavy price to pay for indeed if you are someone who has been tracking this counter. Is definitely not a Saizen. And I am not pleased.

If anyone think that dividend strategy does not work locally, think again. (updated for privacy).

Will I be able to maintain this new level of dividend next year ? Probably considering my portfolio is still not optimise. Still some work to do. Another is the high cash level which I have been deliberating on to use. Quite an amount in foreign currency which has hedge S$ currency weakness.

Good news for this two weeks will be my income currency has appreciated 8% relative to Singapore dollars. The bad news is that the rate is dynamic and many of my assets are Singapore dollar denominated including loans.But then interests rate is moving up. And my portfolio is muted towards the Trump Rally to my dismay. One good thing out of it is that our labour cost reduced by 8%. And property in relative terms has become cheaper by 8% too. This is really good for Singapore reeling from high cost of labours and property prices.

Talking about interests rate. Reits got skinned recently and I dipped for some. So glad to be back in the 6%-10% yield range. In the Telco front is a slaughter.I have avoided Starhub and M1 specifically for the past year. Singtel I feel is ok because whatever go down likely will come back up. It is more sentiment for a diversified and strong counter. Will there be special dividend after coming one ? oh no ...hope not another Neratel. There has been huge outflow of money from developing world back to America pushing the DJIA to another high. I would be prepared for the tide returning.

What's more ?

Busy weeks on travel. America is still a land of plenty, and waste. Consumer market rule.
Salary and Bonus assessment period. :)

Cory
20161125

Cory Diary : Equity Dividends 2016 Q2

Still in the atmosphere of Brexit, market is roaring back. So much on the fallout !At the same time Telco has a good run with talks on the 4th Telco viability. Seems like everyone has forgotten about the slow growth of major economies. True to my prediction, it is exciting time !

(updated for privacy) 

Year to date (Q2 '16) (updated for privacy) .  There will be challenge beating (updated for privacy) in 2015 due to I have taken profits on a number of counters and with more to come if the market continues to pick up.

 I have done some mitigation by re-balancing some of the returns to fixed instruments. And am now exploring for other opportunities on the remaining cash. New risk will be Indonesia and deeper risk will be China.

Cory

20160712