Wednesday, March 11, 2015

Recent Buy

Today I bought 25 shares of W.P. Carey Inc (NYSE: WPC)


W. P. Carey Inc. (NYSE: WPC) is a global net-lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions for companies worldwide. At December 31, 2014, the Company had an enterprise value of approximately $11.1 billion. In addition to its owned portfolio of diversified global real estate, W. P. Carey manages a series of non-traded REITs with assets under management of approximately $9.2 billion. Its corporate finance-focused credit and real estate underwriting process is a constant that has been successfully leveraged across a wide variety of industries and property types. Furthermore, its portfolio of long-term leases with creditworthy tenants has an established history of generating stable cash flows, enabling it to deliver consistent and rising dividend income to investors for over four decades.


Just as overall portfolio diversification can be important in helping mitigate risk, W. P. Carey believes it also important to diversify within a specific asset class such as real estate. After careful tenant and real estate analysis, the companies included in W. P. Carey’s portfolio are diversified by geography, property type and industry so that overall performance may not be impacted by any one industry, tenant, property type or region.

  • Total Assets $8.6 Billion
  • Properties 783
  • Total Sq Ft 87.3 Million
  • Average Lease Term 9.1 Years
  • Tenants 219
  • Occupancy 98.6%


W. P. Carey's information is as of September 30, 2014.

Top Tenants: Hellweg (Retail Stores, Germany, 5.6%) | U-Haul International (Self Storage U.S. 4.7%) | Carrefour France SAS (Retail Stores, France 5.2%) | State of Andalusia (Office, Spain, 4.2%) | OBI Group (Retail Stores, Poland, 2.5%) | Marriott International, Inc (Hospitality, U.S. 2.4%)

% = % Total Base Rent


  • W.P. Carey (WPC) has increased its dividend every year since going public in 1998.
  • Current annualized dividend $3.80
  • W.P. Carey has increased it dividend 46.2% since converting to a public REIT in September 2012.  (Based on third quarter 2012 annualized dividend of $2.60 per share.)
  • W.P. Carey is a Dividend Contender (10-24 Straight Years Higher Dividends) List Maintained by Dave Fish at 
  • W.P. Carey has Increased Dividend by 18 Straight years.
  • 3-yr DGR 19.2 | 5-yr DGR 12.7 & 10-yr DGR 7.5 (DGR= Dividend Growth Rate.)
  • LTM FFO Payout Ratio: 80.81%
  • Current dividend yield 5.73% (Based on a stock price of  $66.28).


W.P. Carey offers a diversified REIT investment, as main revenue comes from its Real estate portfolio and around 17% of revenue comes from Investment Management. The Real Estate Portfolios diversification comes not only on industry diversification but also as geographical diversification, around 35% of the Real Estate Portfolios income comes outside of U.S. WPC also offers a nice dividend of 5.73% and I believe that WPC will continue to increase the dividend in close future but we'll see.

I believe that WPC is good buy for long run.

Based on a current annualized dividend of $3.80 this purchase will increase my annual dividend income by $95

I have also updated my portfolio to represent the current change.

Any thoughts ? 

photo: By cuteimage

Monday, March 2, 2015

Recent Buy

Today I bought 110 shares of Nordea Bank AB (NDA1V).

Nordea is traded at the stock exchanges of Stockholm (NDA), Helsinki (NDA1V) and Copenhagen (NDA). Nordea also have American Depository Receipts (ADR) available. Ticker (NDBAY) Exchange: OTC | Ratio: 1 Ordinary Share : 1 ADR
(The ADR ticker may be NRBAY instead of NDBAY, company website says ND but google finance displays it NR.)

Nordea in brief

Nordea is the largest financial services group in Northern Europe with a market capitalisation of approximately EUR 38.9bn, total assets of EUR 669.3bn and a Common Equity Tier 1 capital ratio of 15.7%.

Nordea has leading positions within corporate and institutional banking as well as retail banking and private banking. It is also the leading provider of life and pensions products in the Nordic countries. 

Nordea has the largest customer base of any financial services group in the Nordic region with approximately 10 million household customers and around 0.5 million corporate customers.

Dividend & Dividend Policy

Nordea pursues a policy of high dividends. The policy is that the total dividend payment will exceed 40% of the net profit for the year. Nordea will ensure competitive and predictable dividends.

*) ECB closing rate 8.9312 on 28th March 2014

Dividend Proposed for 2014 (Paid in 2015) is €0.62 compared to last years €0.43 it represents 44.18% increase. That dividend will bring the payout ration around 70% from current EPS of  €0.83 (diluted). The Company says on their annual report that:" The ambition for the dividend is to increase the payout ration in 2014 and 2015, while maintaining a strong capital base."
The ex-dividend date for the Nordea share is 20 March 2015 and payments are scheduled to made on 30 March 2015.

With current price of  €12.05 Nordea offers a dividend yield of 5.15%.

Financial Review 2014

Income Statement (Continuing operations)


Nordea is currently trading at €12.06 with P/E 14.14 | EPS €0.85 the share was around 50 cents cheaper about a month ago and it is currently trading close to 52 week high (€12.20) So it did not offer any discounts what comes to price. I had few others that I wanted to buy on my home market here in Finland but they all seemed just too expensive compared to Nordea Bank AB.  

This purchase will add €68.20 (76,48 USD) to my annual dividend income.

Haven't updated my portfolio for quite a while now so I will also update my portfolio page to represent these current changes.

Long Nordea

Any thoughts ?

photo: By cuteimage

Sunday, March 1, 2015

Dividend Income: February 2015

Yet another month has passed by and it's time to collect all the fruits on the ground and look forward to next month.

February 2015 dividend's:

  • $37.60  AT&T inc. (T)
  • $18.15  Verizon Communications Inc. (VZ)
  • $23.85  Kinder Morgan Inc. (KMI)
  • $8.69    Realty Income Corp. (O)

Total dividends: $88.29

On last year's Feb I received dividend only from Starbucks Corporation (SBUX) worth $3.38 if you would compere these together the increase is quite big, around 2512,13% increase. I hopefully get the same percentage increase on next year too. Most likely not.. I would need to get close to $2307 from dividends to reach same percentage increase.

Did you get good dividends this month ?

Ty for reading.

picture:By cooldesign