Recent Sell - Intel (INTC)
Earlier this week I sold my stake in Intel (INTC) after the company announced they would not be raising the dividend again next quarter. This will be the 8th straight quarter that Intel has failed to raise it's dividend. I thought that this would be the quarter they would raise it but that wasn't the case. I can't sit by and keep my money in a company which has lost it's commitment to it's dividend so I sold. With this sale I did realize about an 18% capital gain in the stock which I can't complain about at all.
With the funds available from the sale I went on a bit of a shopping spree though! I bought shares in three solid dividend payers ....
1 - Pepsi (PEP) 15 shares of Pepsi at $83
2 - Chevron (CVX) 25 shares at $119.14
3 - McDonalds (MCD) 12 shares at $97.77
The sale of Intel leaves me light in the tech sector so I will be keeping my eyes on some tech companies like Cisco for possible future purchases.
I don't blame you Captain. I believe several dividend growth investors felt the same way. I noticed at least JC (@Passive Income Pursuit) sold also. Is there a particular reason you didn't buy KO?
ReplyDelete-Bryan
I was specifically looking to replace my Intel with other March dividend payers. KO pays in early April. It's only one day difference I know but on paper it's a different month and I like to keep my monthly pay even.
DeleteCan't blame you for selling Captain. I sold my INTC position last August after the streak broke. Just wasn't worth holding onto a company that wasn't going to maintain their commitment to growing a dividend stream for shareholders.
ReplyDeleteAs for the three buys, all are great companies and should reward you well and provide the desired dividend growth.
Your one of many who have sold recently. I thought this would be the quarter that they would raise it to at least keep the streak going but I was wrong. Thx
DeleteI did the same thing during the end of March. I was just plain tired of no increases after 8 quarters. Looks like you replaced your INTC with some solid DG companies that should continue to increase year in and year out. Plus CVX should be giving us a boost this month.
ReplyDeleteHey PIP, ya I'm fairly confident I can sleep at night holding those three for a long time to come. Thanks for reminding me about that dividend boost. That's going to be real nice if we get another raise like we did last time. If they raise it up to $1.10 that would make me happy for sure.
DeleteI have been waiting for someone to share this post. This has really made me think and I hope to read more. Thank you very much for writing such an interesting article on this topic.
ReplyDelete