{"id":10742,"date":"2023-05-19T01:47:07","date_gmt":"2023-05-19T05:47:07","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/sometimes-investing-isnt-exciting-april-dividend-income-report\/"},"modified":"2023-05-19T01:47:08","modified_gmt":"2023-05-19T05:47:08","slug":"sometimes-investing-isnt-exciting-april-dividend-income-report","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=10742","title":{"rendered":"Sometimes, Investing Isn\u2019t Exciting &#8211; April Dividend Income Report"},"content":{"rendered":"<div data-test-id=\"content-container\">\n<p><figure class=\"getty-figure\" data-type=\"getty-image\"><picture>  <\/picture><figcaption> <\/figcaption><\/figure>\n<\/p>\n<p>In September of 2017, I received slightly over $100K from my former employer, representing the commuted value of my pension plan. I decided to invest 100% of this money in dividend growth stocks.<\/p>\n<p>Each month, I<span class=\"paywall-full-content invisible\"> publish my results on those investments. I don\u2019t do this to brag. I do this to show my readers that it is possible to build a lasting portfolio during all market conditions. Some months we might appear to underperform, but you must trust the process over the long term to evaluate our performance more accurately.<\/span><\/p>\n<h2 class=\"paywall-full-content invisible\"><span>Performance in Review<\/span><\/h2>\n<p class=\"paywall-full-content invisible\">Let\u2019s start with the numbers as of May 8th, 2023 (before the bell):<\/p>\n<p class=\"paywall-full-content invisible\">Original amount invested in September 2017 (no additional capital added): $108,760.02.<\/p>\n<ul class=\"paywall-full-content invisible\">\n<li> <strong>Portfolio value:<\/strong> <strong>$217,654.60<\/strong> <\/li>\n<li>Dividends paid: $4,733.06 (TTM)<\/li>\n<li>Average yield: 2.17%<\/li>\n<li>2022 performance: -12.08%<\/li>\n<li>SPY= -18.17%, XIU.TO = -6.36%<\/li>\n<li class=\"paywall-full-content invisible no-summary-bullets\"><strong>Dividend growth: +10.83%<\/strong><\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\"><strong>Total return since inception (Sep 2017-April 2023): 100.12%<\/strong><\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\"><strong>Annualized return (since September 2017 \u2013 68 months): 13.02%<\/strong><\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">SPDR\u00ae S&amp;P 500 ETF Trust (SPY) annualized return (since Sept 2017): 83.98% (total return 11.36%)<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">iShares S&amp;P\/TSX 60 ETF (XIU:CA) annualized return (since Sept 2017): 65.34% (total return 9.28%)<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure\" contenteditable=\"false\"><picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/saupload_sector-allocation.png\" alt=\"Dynamic sector allocation calculated by DSR PRO as of April 6th.\" contenteditable=\"true\" loading=\"lazy\"> <\/picture><figcaption>\n<p class=\"item-caption\"><span>Dynamic sector allocation calculated by DSR PRO as of April 6th.<\/span><\/p>\n<\/figcaption><\/figure>\n<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Sometimes, Investing Isn\u2019t Exciting (But it Works)<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Over the past three years, we went through a boatload of emotion, and the stock market followed the waves! Most recently, I did a spring cleaning in my portfolio and sold positions I no longer believed in. This is a crucial step for investors: <strong>making sure you hold the right stocks for your strategy.<\/strong> I was thrilled by my new purchases, notably CCL Industries (CCLB.C:CA)(OTCPK:CCLLF) and Home Depot (HD), and I can\u2019t wait to see how they do over the next 10 years.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">But each month and each quarter doesn\u2019t necessarily bring a comparable level of excitement. This month, I did what we all should do monthly: I counted my dividends, I reallocated some liquidity to buy 5 more shares of Royal Bank (RY:CA) (RY), and I added a position to my Smith Manoeuvre portfolio. I did the boring housekeeping we should do, and I didn\u2019t get excited.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Don\u2019t forget we are in this game for the long haul. We are not running a 100m sprint as we are in for the longest ultra-marathon ever created. The good news is that we are in a passive ultra-marathon. The only thing that must be done most of the time is simply waiting and trusting your strategy.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">When I look back at the creation of my portfolio in 2017, I still hold many of my positions 6 years later:<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">I added Alimentation Couche-Tard (ATD:CA) (OTCPK:ANCUF, OTCPK:ANCTF), Royal Bank, Disney (DIS), Microsoft (MSFT), Starbucks (SBUX), and Texas Instruments (TXN) to my portfolio on the first month I started to invest the value of my pension plan. By the beginning of 2018, I had completed my portfolio and added shares of Magna International (MG:CA)(MGA), Fortis (FTS:CA)(FTS), Apple (AAPL).<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">That\u2019s roughly half of my portfolio that has not changed since the creation of this account. Interestingly, most of those stocks show impressive results, as many are in the triple-digit return club.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">This is how I doubled the value of my pension plan without adding a dollar of new capital over the past 5.5 years:<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\"><em>I stayed invested and let \u201cboring &amp; consistency\u201d be the guiding strategy for my portfolio.<\/em><\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">No fluff, no crazy swing trades, and no options. I did my due diligence and ensured that most of my portfolio followed my investment strategy focused on dividend growth.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The best thing to do with your portfolio is often not to do anything. That\u2019s what I did last month, and this is what I will do for most of 2023.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">I still have more cleaning to do as CAE (CAE:CA) (CAE) and Disney have not paid a dividend since Covid. Disney has already announced its intention to reinstate the dividend payment by the end of this year. We have silent radio coming from CAE. I will hold on to those two companies until the end of the year before making a final decision.<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Smith Manoeuvre Update<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The SM strategy is back! When you attempt any kind of leveraged strategy, you must be certain to follow these rules:<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">#1 Have a long-term horizon (minimum 10 years) to benefit from a full stock market cycle.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">#2 Be comfortable with market fluctuations (your portfolio could go down 20% as it\u2019s part of the game).<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">#3 Be comfortable financially (have an emergency fund + the ability to pay off the debt without liquidating the assets).<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">I followed my rules and took a break after spending too much time creating lifetime memories with my family in Africa. I\u2019m now back with a new $500 per month since March 1<sup>st<\/sup>.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">So far, the Smith Manoeuvre strategy has worked well as the portfolio shows a total return of more than 7% while I paid less than 6% in interest (which is tax deductible). My current interest rate is 6.72% but I don\u2019t expect it to stay that high for long. In the meantime, I\u2019m buying great companies at good prices, and I can handle the interest rate at this time.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The portfolio is slowly taking shape with 8 companies spread across 6 sectors. My goal is to build a portfolio generating 4-5% in yield across 15 positions. I will continue to add a new stock monthly until I reach that goal. My current yield is at 4.52%.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure\" contenteditable=\"false\"> <picture> <img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/saupload_SM-allocation.png\" alt=\"sector allocation\" contenteditable=\"true\" loading=\"lazy\"> <\/picture><figcaption><\/figcaption><\/figure>\n<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Adding 3 shares of Canadian Tire<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">It\u2019s difficult to build a portfolio with a high yield that will continue offering capital and dividend growth. I added Canadian Tire (CTC.A:CA) to my portfolio for diversification (adding a new sector) and for relatively low valuation (P\/E ratio below 10, dividend discount model showing a small bargain on the current price). The company demonstrated the resilience of its business model during the pandemic and past recessions. With a low payout ratio, I\u2019m confident it will be a great dividend grower for this portfolio.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\"> Here\u2019s my SM portfolio as of <strong>May 8<sup>th<\/sup>, 2023<\/strong> (before the bell):<\/p>\n<p> <span class=\"table-responsive paywall-full-content invisible no-summary-bullets\"><span class=\"table-scroll-wrapper\"><span data-intersection-boundary=\"start\"><\/span><\/p>\n<table>\n<tr>\n<td><strong>Company Name<\/strong><\/td>\n<td><strong>Ticker<\/strong><\/td>\n<td><strong>Sector<\/strong><\/td>\n<td><strong>Market Value<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Brookfield Infrastructure<\/strong><\/td>\n<td>BIPC:CA<\/td>\n<td>Utilities<\/td>\n<td>$521.46<\/td>\n<\/tr>\n<tr>\n<td><strong>Canadian National Resources<\/strong><\/td>\n<td>CNQ:CA<\/td>\n<td>Energy<\/td>\n<td>$462.54<\/td>\n<\/tr>\n<tr>\n<td><strong>Canadian Tire<\/strong><\/td>\n<td>CTA.A:CA<\/td>\n<td>Consumer Disc.<\/td>\n<td>523.95<\/td>\n<\/tr>\n<tr>\n<td><strong>Exchange Income<\/strong><\/td>\n<td>EIF:CA<\/td>\n<td>Industrials<\/td>\n<td>$577.28<\/td>\n<\/tr>\n<tr>\n<td><strong>Great-West Lifeco<\/strong><\/td>\n<td>GWO:CA<\/td>\n<td>Financials<\/td>\n<td>$655.01<\/td>\n<\/tr>\n<tr>\n<td><strong>National Bank<\/strong><\/td>\n<td>NA:CA<\/td>\n<td>Financials<\/td>\n<td>$609.36<\/td>\n<\/tr>\n<tr>\n<td><strong>Telus<\/strong><\/td>\n<td>T:CA<\/td>\n<td>Communications<\/td>\n<td>$506.34<\/td>\n<\/tr>\n<tr>\n<td><strong>TD Bank*<\/strong><\/td>\n<td>TD:CA<\/td>\n<td>Financials<\/td>\n<td>$1,166.20<\/td>\n<\/tr>\n<tr>\n<td><strong>Cash (Margin)<\/strong><\/td>\n<td> <\/td>\n<td> <\/td>\n<td>-$631.05<\/td>\n<\/tr>\n<tr>\n<td><strong>Total<\/strong><\/td>\n<td> <\/td>\n<td> <\/td>\n<td>$4,391.09<\/td>\n<\/tr>\n<tr>\n<td><strong>Amount borrowed<\/strong><\/td>\n<td> <\/td>\n<td> <\/td>\n<td>-$4,000.00<\/td>\n<\/tr>\n<\/table>\n<p> <span data-intersection-boundary=\"end\"><\/span><\/span><button class=\"table-enlarge-button\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" class=\"table-enlarge-icon\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M16 11a5 5 0 0 1-5 5H5a5 5 0 0 1-5-5V5a5 5 0 0 1 5-5h6a5 5 0 0 1 5 5v6zm-4.5-2.5h2v-6h-6v2h4v4zm-9-1h2v4h4v2h-6v-6z\"><\/path><\/svg>Click to enlarge<\/button><\/span> <\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">I also have a larger position in TD (23% of my portfolio) as I continue to trade on margin on this one. On top of the $500 I invest monthly, I borrowed another ~$500 to double my position. I think the fear around Canadian banks is exaggerated and I intend to benefit from Mr. Market\u2019s current panic.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Let\u2019s look at my CDN portfolio. Numbers are as of <strong>May 8<sup>th<\/sup>, 2023<\/strong> (before the bell):<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Canadian Portfolio (CAD)<\/h2>\n<p> <span class=\"table-responsive paywall-full-content invisible no-summary-bullets\"><span class=\"table-scroll-wrapper\"><span data-intersection-boundary=\"start\"><\/span><\/p>\n<table>\n<tr>\n<td><strong>Company Name<\/strong><\/td>\n<td><strong>Ticker<\/strong><\/td>\n<td><strong>Sector<\/strong><\/td>\n<td><strong>Market Value<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Alimentation Couche-Tard<\/strong><\/td>\n<td>ATD:CA<\/td>\n<td>Cons. Staples<\/td>\n<td>$24,128.39<\/td>\n<\/tr>\n<tr>\n<td><strong>Brookfield Renewable<\/strong><\/td>\n<td>BEPC:CA<\/td>\n<td>Utilities<\/td>\n<td>$10,591.62<\/td>\n<\/tr>\n<tr>\n<td><strong>CAE<\/strong><\/td>\n<td>CAE:CA<\/td>\n<td>Industrials<\/td>\n<td>$5,910.00<\/td>\n<\/tr>\n<tr>\n<td><strong>CCL Industries<\/strong><\/td>\n<td>CCL.B:CA<\/td>\n<td>Materials<\/td>\n<td>$8,967.00<\/td>\n<\/tr>\n<tr>\n<td><strong>Fortis<\/strong><\/td>\n<td>FTS:CA<\/td>\n<td>Utilities<\/td>\n<td>$10,403.64<\/td>\n<\/tr>\n<tr>\n<td><strong>Granite REIT<\/strong><\/td>\n<td>GRT.UN:CA<\/td>\n<td>Real Estate<\/td>\n<td>$10,460.16<\/td>\n<\/tr>\n<tr>\n<td><strong>Magna International<\/strong><\/td>\n<td>MG:CA<\/td>\n<td>Cons. Discret.<\/td>\n<td>$5,060.30<\/td>\n<\/tr>\n<tr>\n<td><strong>National Bank<\/strong><\/td>\n<td>NA:CA<\/td>\n<td>Financials<\/td>\n<td>$12,288.76<\/td>\n<\/tr>\n<tr>\n<td><strong>Royal Bank<\/strong><\/td>\n<td>RY:CA<\/td>\n<td>Financial<\/td>\n<td>$8,520.20<\/td>\n<\/tr>\n<tr>\n<td> <\/td>\n<td> <\/td>\n<td> <\/td>\n<td> <\/td>\n<\/tr>\n<tr>\n<td><strong>Cash<\/strong><\/td>\n<td> <\/td>\n<td> <\/td>\n<td>$118.44<\/td>\n<\/tr>\n<tr>\n<td><strong>Total<\/strong><\/td>\n<td> <\/td>\n<td> <\/td>\n<td><strong>$96,331.07<\/strong><\/td>\n<\/tr>\n<\/table>\n<p> <span data-intersection-boundary=\"end\"><\/span><\/span><button class=\"table-enlarge-button\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" class=\"table-enlarge-icon\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M16 11a5 5 0 0 1-5 5H5a5 5 0 0 1-5-5V5a5 5 0 0 1 5-5h6a5 5 0 0 1 5 5v6zm-4.5-2.5h2v-6h-6v2h4v4zm-9-1h2v4h4v2h-6v-6z\"><\/path><\/svg>Click to enlarge<\/button><\/span> <\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\"><strong>My account shows a variation of +$657.30 (+0.7%) since the last income report on April 4<sup>th<\/sup><\/strong>. There were a couple of companies left to report their earnings in April, and below is an update on those stocks.<\/p>\n<h3 class=\"paywall-full-content invisible no-summary-bullets\">Brookfield Renewable is on a roll!<\/h3>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Brookfield Renewable (BEPC:CA) (BEP, BEPC) reported a solid quarter with double-digit growth (FFO per share was up 13% while revenue was up 17%). The results reflect robust hydro generation, strong realized power pricing and asset availability, and contributions from growth. Again, Brookfield proves that its business model is sheltered from inflation. Management has been busy signing transactions for almost $8 billion of equity investments alongside their institutional partners. This included investments in power technologies and regions where BEP has deep operating and development expertise.<\/p>\n<h3 class=\"paywall-full-content invisible no-summary-bullets\">Fortis is also on a roll!<\/h3>\n<p class=\"paywall-full-content invisible no-summary-bullets\">It was a good quarter for my utilities! Fortis reported a solid quarter with EPS up 17%. The increase reflected rate base growth, mainly at ITC and the western Canadian utilities, as well as higher earnings at UNS Energy. Market conditions resulted in wholesale electricity sales with favorable margins and higher transmission revenue at UNS Energy. Higher retail electricity sales, including the impact of favorable weather, and lower depreciation expense associated with the retirement of the San Juan generating station in June 2022, also contributed to results in Arizona. Fortis also announced the recent sale of Aitken Creek Natural Gas Storage Facility to Enbridge for $400M.<\/p>\n<h3 class=\"paywall-full-content invisible no-summary-bullets\">Magna International reported declining EPS but did better than expected!<\/h3>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Magna International did better than expected as revenue jumped by 15%, but EPS was down 9% but still beat the analysts\u2019 expectations! The decrease in EPS mainly reflected higher net production input costs, operating inefficiencies at a facility in Europe, higher net engineering costs, lower net favorable commercial resolutions and higher net warranty costs. Based on the big earnings beat, management raised its adjusted EBIT margin outlook range to 4.7% to 5.1% from their prior outlook range of 4.1% to 5.1%. We want that margin to expand! Total sales are forecast to range from $40.2B to $41.8B. Net Income attributable to Magna is expected to range from $1.3B to $1.5B.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Here\u2019s my US portfolio now. Numbers are as of <strong>May 8<sup>th<\/sup>, 2023<\/strong> (before the bell):<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">U.S. Portfolio (USD)<\/h2>\n<p> <span class=\"table-responsive paywall-full-content invisible no-summary-bullets\"><span class=\"table-scroll-wrapper\"><span data-intersection-boundary=\"start\"><\/span><\/p>\n<table>\n<tr>\n<td><strong>Company Name<\/strong><\/td>\n<td><strong>Ticker<\/strong><\/td>\n<td><strong>Sector<\/strong><\/td>\n<td><strong>Market Value<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Activision Blizzard<\/strong><\/td>\n<td>ATVI<\/td>\n<td>Communications<\/td>\n<td>$8,816.00<\/td>\n<\/tr>\n<tr>\n<td><strong>Apple<\/strong><\/td>\n<td>AAPL<\/td>\n<td>Inf. Technology<\/td>\n<td>$13,017.75<\/td>\n<\/tr>\n<tr>\n<td><strong>BlackRock<\/strong><\/td>\n<td>BLK<\/td>\n<td>Financials<\/td>\n<td>$9,022.72<\/td>\n<\/tr>\n<tr>\n<td><strong>Disney<\/strong><\/td>\n<td>DIS<\/td>\n<td>Communications<\/td>\n<td>$4,523.40<\/td>\n<\/tr>\n<tr>\n<td><strong>Home Depot<\/strong><\/td>\n<td>HD<\/td>\n<td>Cons. Discret.<\/td>\n<td>$8.688.60<\/td>\n<\/tr>\n<tr>\n<td><strong>Microsoft<\/strong><\/td>\n<td>MSFT<\/td>\n<td>Inf. Technology<\/td>\n<td>$17085.75<\/td>\n<\/tr>\n<tr>\n<td><strong>Starbucks<\/strong><\/td>\n<td>SBUX<\/td>\n<td>Cons. Discret.<\/td>\n<td>$9,112.85<\/td>\n<\/tr>\n<tr>\n<td><strong>Texas Instruments<\/strong><\/td>\n<td>TXN<\/td>\n<td>Inf. Technology<\/td>\n<td>$8,291.00<\/td>\n<\/tr>\n<tr>\n<td><strong>Visa<\/strong><\/td>\n<td>V<\/td>\n<td>Inf. Technology<\/td>\n<td>$11,589.00<\/td>\n<\/tr>\n<tr>\n<td><strong>Cash<\/strong><\/td>\n<td> <\/td>\n<td> <\/td>\n<td>$521.44<\/td>\n<\/tr>\n<tr>\n<td><strong>Total<\/strong><\/td>\n<td> <\/td>\n<td> <\/td>\n<td><strong>$90,668.51<\/strong><\/td>\n<\/tr>\n<\/table>\n<p> <span data-intersection-boundary=\"end\"><\/span><\/span><button class=\"table-enlarge-button\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" class=\"table-enlarge-icon\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M16 11a5 5 0 0 1-5 5H5a5 5 0 0 1-5-5V5a5 5 0 0 1 5-5h6a5 5 0 0 1 5 5v6zm-4.5-2.5h2v-6h-6v2h4v4zm-9-1h2v4h4v2h-6v-6z\"><\/path><\/svg>Click to enlarge<\/button><\/span> <\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\"><strong>The US total value account shows a variation of -$332.70 (-0.37%) since the last income report on April 4<sup>th<\/sup>. <\/strong>We have a good line-up of results to digest from this portfolio:<\/p>\n<h3 class=\"paywall-full-content invisible no-summary-bullets\">Activision Blizzard did well, but the merger with Microsoft is shaky<\/h3>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Activision Blizzard (ATVI) reported a good quarter (revenue +25%, EPS +24%), but the big news was about UK regulators deciding to shut down the deal with Microsoft. That sent the shares lower despite great results. U.K.\u2019s regulator blocked the deal citing concerns about cloud gaming. MSFT and ATVI announced they will fight back. ATVI reported strong growth as the net bookings for their franchise games (Call of Duty\u00ae, Candy Crush\u00ae, Warcraft\u00ae, Overwatch\u00ae, and Diablo\u00ae) were quite strong this quarter (+25%). For the next quarter, ATVI expects 10% revenue growth mostly driven by the new version of Diablo coming out in early June.<\/p>\n<h3 class=\"paywall-full-content invisible no-summary-bullets\">Apple didn\u2019t impress, but it bought back a lot of shares!<\/h3>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Apple (AAPL) did better than expected despite declining numbers (revenue down 3%, EPS flat). iPhone sales rose by 1.5% and services went up by 5%. However, results were offset by declining sales for Mac (-32%) while Wearables, Home and Accessories sales were flat. Sales were down in North America (-7%) and China (-3%) as the country is slowly getting back to normal after a long episode of multiple lockdowns due to Covid. Apple announced a $90B share buyback program along with a 4.3% dividend increase. Slowly but surely, Apple is getting back closer to its all-time-high price.<\/p>\n<h3 class=\"paywall-full-content invisible no-summary-bullets\"><strong>BlackRock continues to struggle, but it\u2019s okay.<\/strong><\/h3>\n<p class=\"paywall-full-content invisible no-summary-bullets\">BlackRock (BLK) reported declining numbers (revenue and EPS both down 10%) but did better than expected for earnings. As we still have much volatility in the markets, the interest in bonds is increasing. BLK led the industry with $34B of bond ETF net inflows, accounting for over 60% of total fixed-income ETF trading volume. Overall, assets under management (AUM) grew 5.8% sequentially to $9.09T, with an average AUM totaling $8.9T. Long-term net inflows reached $103B. EPS was down driven by the impact of significantly lower markets and dollar appreciation on average assets under management and lower performance fees.<\/p>\n<h3 class=\"paywall-full-content invisible no-summary-bullets\"><strong>Microsoft is a beast; did I ever mention that?<\/strong><\/h3>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Microsoft pleased investors with a strong quarter beating analysts\u2019 estimates (EPS up +10%, revenue +7%). Strong results were driven by Productivity and Business Processes (+11%) and Intelligent Cloud (+19%), but partially offset by More Personal Computing (-9%) and currency headwinds. The big news was about Azure and other cloud services being up 27% and showing strong potential with the development of artificial intelligence (Open AI uses Azure). Windows and devices revenues were down 28% and 30% respectively, but Xbox revenue was up 3%. MSFT is still battling to acquire Activision Blizzard after UK regulators blocked the deal. They are going to appeal, so stay tuned!<\/p>\n<h3 class=\"paywall-full-content invisible no-summary-bullets\">Starbucks sells expensive coffees in very large volumes!<\/h3>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Starbucks reported a strong quarter with double-digit growth (revenue +14%, EPS up 25%) and beat analysts\u2019 expectations. The coffee chain reported global comparable store sales +11% during FQ2 to smash the consensus estimate of +7.3%. Average ticket was up 6% and transactions were up 4%. Comparable sales increased in North America (+12%) and on international markets (+7%, China +3%). The operating margin increased (from 13% to 14.3%) due to strategic pricing, sales leverage, productivity improvement, and lapping COVID-19 related pay. SBUX opened 464 net new stores and it ended the period with a record 36,634 stores globally.<\/p>\n<h3 class=\"paywall-full-content invisible no-summary-bullets\">Texas Instruments is in the middle of a down investment cycle<\/h3>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Texas Instruments did better than expected even though numbers weren\u2019t great (revenue -11%, EPS -30%). However, the company disappointed the market with weaker guidance than expected for the next quarter. TXN said it expects earnings to be between $1.62 and $1.88 per share with sales forecast to be within a range of $4.17B and $4.53B. Analysts were expecting second-quarter earnings of $1.83 per share and $4.44B in revenue. TXN is navigating through a down investment cycle in the semiconductors industry. It will likely show weak results for the rest of 2023. This could open the door for a good stock purchase opportunity.<\/p>\n<h3 class=\"paywall-full-content invisible no-summary-bullets\">Visa is killing it; what\u2019s new?<\/h3>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Visa (V) reported another strong quarter with double-digit growth (revenue +11%, EPS +17%), beating analysts\u2019 expectations. Visa\u2019s business model is all about volume and transactions. Payment volume increased by 7% while total cross-border volume on a constant-dollar basis increased by 24% in the quarter. The Cross-border volume within Europe was even better at +32%. Transaction volume also increased by 12% in the quarter. Visa keeps on rolling as consumers are spending more and more often. At the end of the quarter, Visa was sitting on a big pile of cash (cash, cash equivalents and investment securities were $19.4 billion on March 31, 2023).<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">My Entire Portfolio Updated for Q1 2023<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Each quarter we run an exclusive report for Dividend Stocks Rock (<span>DSR<\/span>) members who subscribe to our very special additional service called DSR PRO. The PRO report includes a summary of each company\u2019s earnings report for the period. We have been doing this for an entire year now and I wanted to share my own DSR PRO report for this portfolio. You can download the full PDF showing all the information about all my holdings. Results have been updated as of April 6<sup>th<\/sup>, 2023.<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/seekingalpha.com\/article\/4605962-sometimes-investing-isnt-exciting-april-dividend-income-report?source=feed_all_articles\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In September of 2017, I received slightly over $100K from my former employer, representing the commuted value of my pension plan. I decided to invest 100% of this money in dividend growth stocks. Each month, I publish my results on those investments. I don\u2019t do this to brag. I do this to show my readers [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-10742","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sometimes, Investing Isn\u2019t Exciting - April Dividend Income Report | iFintechWorld<\/title>\n<meta name=\"description\" content=\"In September of 2017, I received slightly over $100K from my former employer, representing the commuted value of my pension plan. 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