Sept '24 dividend portfolio update: a mixed bag of results + 2 new stocks
I review results from my portfolio companies in September and discuss two new dividend shares I'm adding to the portfolio - and the stocks I've decided to sell to make space for them.
The UK market continues to offer good value in many areas, in my opinion, and I've decided to make two changes to my portfolio at the end of the third quarter.
Broadly speaking, I want the portfolio to contain quality companies with the potential to deliver reliable dividends and some growth over many years.
But I'm coming to believe that the portfolio's performance may be enhanced by a small amount of trading in cyclical stocks where value opportunities might exist.
I've also decided to try focusing my stock choices more closely on the highest-scoring shares in my dividend screen results. Both the new stocks I'm considering replace much lower-scoring stocks.
New stock #1: one trade I'm considering is designed to recycle a successful cyclical value play into another similar opportunity.
My hope is that this will increase the upfront dividend yield received from the position while also offering the potential for a further capital gain.
New stock #2: I've decided to sell a troubled business that's sitting near the bottom of my portfolio's returns.
To replace it, I've chosen a small cap dividend stock that's a respected specialist in its sector and – as far as I can see – is likely to remain so for the foreseeable future.
The shares in question currently offer a 7% yield, and the overall valuation of this very profitable business looks reasonable to me at current levels.
Subscribers can read full details of these trades below, along with results analysis on four existing portfolio stocks that have reported over the last month.
In this month's report...
Here is a list of the topics covered in this month's model dividend portfolio update.
Please click on the links for each section, or scroll down to read the full report.
