Well, we are still here. I have finally updated the QDV and portfolio holdings to reflect our current portfolio. Our QDV has been decimated to say the least. Currently it is 2.4%, down from well over 20%. Many companies cut or have frozen their dividends. Those that cut or eliminated their dividends were sold into the current market rebound. We weren't willing to sell as the March lows were being made, and in retrospect, that was a good idea.
We have several companies who have held or grown their dividend payouts during this turmoil on the radar to replace the companies we sold. Interestingly, as we replace the companies, we will be able to substantially restore dividend revenue very close to what it was at the peak. How can that be? Well, the companies we are buying are paying and they are yielding higher because prices are historically low.
Although the market has been volatile, we are beating the Wilshire to date by over 3% - not bad considering dividends are excluded from this calculation, and this is covering a period marked by record volatility.
Sales made were USB, LYTS, CCL, ACAS, SCS, MOV, PBG, HIG, GE, and STI due to dividends being cut or eliminated. PBG was sold due to being bought out by Pepsico.
We anticipate a moderate (5-10%) correction from these levels, and await good entries to add new holdings to 'rebuild' from proceeds of these sold positions.
