As much as I hate selling any portion of my dividend income portfolio assets, this one needed to be severed from the rest of the group. I chose to go ahead and sell out of ConocoPhillips (COP) position entirely as its fundamentals, growth and future dividend has been greatly diminished. The company put a real sour taste in my mouth when the dividend was cut by more than half in early 2016 and therefore it is dead to me now. The stock price has recovered since then, which brought a good point to sell the asset at par of what I originally purchased for, not counting dividends received. Much better opportunities are out there and my money was waisting owning a piece of this business. Here are a few main reasons for the recent sale of the stock.
- Reduction of dividend by 66.2% OUCH!
- Destroyed its consecutive annual dividend growth streak
- Payout Ratio is highly unstable
- Unknown future for the dividend growth
I sold all 19.163 shares of ConocoPhillips (COP) for the price of $50.05 per share for a total recoupment of $959.11 subtracting of around $20.31 to my annual dividend income.
The Portfolio “The Dividend Machine” has been updated with link > here.
Thank you for reading & have a great day!