Whats up fellas, welcome back to the Dividend Mascot blog. Hope you all did well with your dividend income for the month. As many of you have heard, Royal Dutch Shell (RDS.A/B) has cut its dividend for the first time since World War 2 (thats over 70 years of dividend payments). Your probably wondering "oh my gosh what are you going to do!?!"..........its already been fixed before you even clicked on this blog (within a snap of the fingers of its announcement on Seeking Alpha i already had a 4 figure new position set on this replacement stock). I had a back up stock set in place for this that pays out a dividend in the same quarters that shell does (pretty cool right?), and on top of that i was already planning on switching from RDS.B to this much stronger stock for the taxable account anyways. Especially for tax reasons i needed a stronger stock plus it needs to give out a "Qualified" dividend rather than a dividend that comes out under just "income" when you file your taxes. I will discuss about the "new" position after we go over the dividend income. So with out further or do lets go over the sweet dividend money.
Roth IRA
Total: $92.39
Taxable Account
Total: $32.62
Grand Total: $126.01
YoY: 49.76%
Purchase: 3 shares of PM & 13 shares of ED (will be buying alot more of ED soon)
Sell: All RDS.B shares
So as always i love to have my blog be as "straight forward to the point" as possible. I like to keep it real on here. So lets discuss the new position of (ED) Consolidated Edison that replaced Royal Dutch Shell (RDS.B) after they cut there dividend by 66%. (ED) is a eletric/gas utility company founded in 1884 based in New York and has an impressive 45+ years of dividend raises. In like 5 years or less (ED) will be crowned a dividend king (50 years of dividend raises) this stock has been in the air for me for a really really really long time and ive never mentioned it once on this blog. Every time i would study dividend kings or look up dividend list on kiplinger.com back then i would always see (ED) pop up on the side as recommended stocks based on my search history of strong dividend stocks. So making this quick move just made my portfolio alot stronger along with all my other "boring" stocks, so when everything is set by the end May my (ED) holding value will be around the ~$2,000 ball park. Like that old saying "it takes money to make money", i remember back when my entire portfolio was worth that much. So If you look through my portfolio like over half of it is from the shelves from your local Walmart lol. All i care about are strong recognizable "brands".
As i get closer and closer to my 5 year anniversary of dividend growth investing the more i only care about dividend kings if i ever want to diversify into more dividend growth stocks lol. The more this is becoming a video game.... litterally. So i all want to do is leave the portfolio the way it is and continue to scale up all my holdings, and one day ill be having several 5 figure holdings because i dont want to diversify 😉.
Btw got something really cool for guys, so the moment i saw the shells dividend cut notification i made a smooth quick transition to (ED). Just like how you see Wesker in this boss fight video takes off his glasses and throws it behind 😎. Its like im literally sitting the edge of my couch with an xbox controller in hands playing an intense video game lol. Hope you all enjoy my crazy enthusiasm.
The moment shells dividend cut news came in
In this game of dividend growth investing sometimes you have to be brutal. Thats why you sometimes see me share videos like this to illustrate my brutal determination. To set things up right so my 40 year old 15 years from now can have all his monthly basic expenses paid by the dividend income the taxable account.
Well thats it for this one folks, as i end this blog i want to give a shoutout to all hospital doctors/nurses wearing those suits and mask that are working hard treating the coronavirus patients. Anyway guys i hope you enjoyed the blog, keep stacking that sweet dividend money, and ill see you guys next time 😉.
