My Investment Portfolio (End Apr 2020)

Transactions made in Apr 2020:

- Bought 1,000 units of DBS at $19.55

- Bought 1,000 units of OCBC at $8.63

I continued to buy stocks in the banking sector in the month of April as shared in my earlier posts in Apr and Mar. Do note that this is not a buy call. Please DYODD. I am going in with a long time horizon of at least 2 years and with expectations that these banks will cut dividends or not give out dividends in the near future as they maintain high capital levels.

DBS has just announced their Q1 2020 result and maintained their dividends for this quarter at 33 cents. It is important to note that this result, similarly for UOB and OCBC upcoming Q1 2020 financial result, will not and does not capture the full impact of the Fed rate cuts. The full impact of the rate cuts will be felt in the Net Interest Margin (NIM) in the Q2 2020 result. There will also be more non-performing loans (NPL) and allowances for loan losses. 

In case you are wondering, DBS's Q1 net book value is  $19.86. The share price is above the book value due to the upcoming 66 cents payment which will XD on 12 May. 

I am still looking into the possibility of buying more bank stocks if it drops lower. Also, looking into the other stocks such as CDG, ST Eng and reits.

2020 Dividends received in Teal colour

Year to date, the amount of dividends received is only at $616.06, which is the lowest I have received so far since 2015. Dividends were impacted as some companies cut dividends to conserve more cash and some postponed their AGMs due to Covid19. For the former, if these are reits, they retain part of the dividends to retain more capital and will only pay them out at a later stage. For the latter, once the AGMs are held and resolutions are passed, the dividends will be paid out. 

Bearing unforeseen circumstances, I am expecting to receive* my highest amount of dividends, of at least $2,000 for the month of May. Fingers crossed! 

At this point in time, I am not too worried, as I am already expecting this year's dividends to be lower than last year. If you are an investor, I believe you will have the same thinking and are prepared for it. My dividends could be less than $6,500 this year. 

Dividends received* in Apr 20: $66.14 (Mapletree Commercial Trust, Suntec Reit)

Total dividends received in 2020: $616.06

Average dividends per month: $51.34

Total Portfolio Market Value: $199,584

Notes:

*Dividends are recognised after ex-dividend (xd) date.

Average dividends per month is calculated by dividing the dividends received by 12 months regardless of the month.

Portfolio excludes Singapore Savings Bonds.