December 2014 Report

I received $262.84 in dividends in December.

PSEC $24.43
MAIN $32.53
FSC $21.05
FSIC $8.21
NMFC $49.13
ARCP $127.50
Total $262.84

 

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Second month with over $200 in dividend income! I’m excited, but this month is also some kind of reversal point in my strategy.

ARCP stopped paying a dividend and I sold it immediately with a heavy loss. I didn’t want to repeat the mistake I did with SDRL and NADL. This cuts $2000 of my projected yearly dividend income.

As this was my third company suspending the dividend, I will change my strategy of “Yield Chasing” to Dividend Growth Investing. This means my dividend income will be reduced drastically and I have to revise my 2015 goals. I will stop buying BDCs and even reduce some positions, which will lead to further reduced dividend income. I think in some terms I will start again, but this time a lot more value than income oriented.

Was it a mistake to jump in ARCP? I don’t think so, but having no clear plan of what to suspect and being overweight in a position was obviously a big mistake. Maybe I even buy back some shares of ARCP when all things are clarified (new management, correct FFO, net asset value, new dividend rate)

Purchase made in December

Stock Units Price Date Cost
BP 50 $ 38.93 2014-12-01 $ 1946.50
PSEC 140 $ 8.33 2014-12-08 $ 1166.20
FSC 130 $ 8.35 2014-12-08 $ 1085.50
FSC 100 $ 8.27 2014-12-08 $ 827.00
PSEC 100 $ 8.21 2014-12-08 $ 821.00
PSEC 100 $ 8.09 2014-12-08 $ 809.00
MCC 100 $ 9.33 2014-12-10 $ 933.00
MCC 100 $ 9.36 2014-12-10 $ 936.00
MCC 100 $ 8.98 2014-12-10 $ 898.00
FSC 200 $ 7.85 2014-12-16 $ 1570.00
ARCP 200 $ 7.70 2014-12-16 $ 1540.00
FSIC 170 $ 10.16 2014-12-16 $ 1727.20
TCPC 200 $ 15.52 2014-12-16 $ 3104.00
FSIC 100 $ 10.10 2014-12-16 $ 1010.00

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