It is pretty funny living in Connecticut. We are about equidistant between New York and Boston so the fans are pretty evenly split between Giants and Patriots. As a Cowboys fan, I have to say I am not fond of either team. I will simply root for an exciting game.
My Dividend Portfolio continues to outperform. It has beaten the Russell 3000 by about three points and has been relatively steady. I did have some happenings over this week.
- STD reported earnings. I ended up selling them as they had a bit of a pop and I am tired of the unknowns regarding Europe exposure. If they come back down to the low 7s, I might buy back in.
- AZN reported earnings and announced major layoffs (AstraZeneca Plans to Cut 7,300 Jobs). They are going to have $1.95 dividend in mid-February (it was $1.85 last year). The stock is not exactly a growth stock, but I will likely hold for another year.
- PRE announced a dividend hike (PartnerRe increases quarterly common share dividend by 3% to $0.62 from $0.60 per share), which is always music to my ears.
- CSQ also announced a substantial dividend hike (Calamos Closed-End Funds (CHI, CHY, CSQ, CGO and CHW) Announce Monthly Distributions for February 2012, Including Increases to CSQ and CHW), sounds like the Brandenburg Concertos to me.
- VR reported a big miss.
I decided to sell my VR (note - VR was one of my largest holdings). I was disappointed with the miss and I have been looking to reduce my P&C Insurance exposure a bit. They did well for me, so no complaints. I took 1/2 the money and doubled my position in PRE (love the divvy hike). The rest I will holdin cash for time being.I like PRE for three reasons:
- They are cheaper than VR (price to book around 85% vs high 90s for VR).
- They pay a better dividend (around 3.8% vs 3%).
- They have greater European presence. I believe there may be market dislocation in Europe as the reinsurance Mammoths there (Swiss Re, Munich Re and Hannover Re) may have to take some serious haircuts in their European sovereign debt holdings, which could cause them to have reduced capacity to assume insurance risk.
The final big news for me was the 13% spike in GNW. I am still very bullish on this stock, but as it doesn't pay a dividend I do not track it here. Below I show my current holdings and how they are performing.
|Stock||Shares||Avg Cost||Current Price||Dividends Received||Pct Change||R3K Change||Diff|
|IRR Since 12/31/10||14.8%|
|Estimated Dividends for Next 12 Months|
|Stock||Shares||Ann Dividend / Share||Yield||Projected Dividend||Sector||Worth||Anniversary|
|FCX||503||$ 1.00||2.2%||503||Basic Resources||23,364||11/28|
|NSU||3,200||$ 0.10||1.5%||320||Basic Resources||20,672||1/25|
|STO||1,000||$ 0.94||3.6%||940||Basic Resources||25,950||11/23|
|Stock||Shares||x Date||Div/Share||Est New Shares||Amount|