August has seen a bit of turbulence in the markets. The Fed cut the benchmark rate 25 basis points at the end of July and we’ve begun seeing a tad of a correction. I am very slowly looking to take advantage if we start seeing a real correction. Last December I was disappointed not having enough dry powder as they say.

Summary

TickerDateSharesPriceIncome
MMM8/14/201910160.7$57
PRU8/15/20192380$92

Details

Here’s a quick update of what I’ve done so far this month. When I’m reviewing my potential buy list, I will cross reference my dividend tracking spreadsheet and my upcoming dividend alerts that I built in Custom Stock Alerts. Here is one example (though the numbers are different)

On the 15th I put in a limit order for Prudential @ $80 per share. It took most of the day but it eventually triggered which gave me another traunche of shares at the 5% yield point. As you can see from the screenshot above (taken on the 16th), shares climbed a bit dropping the current yield.

The picture above is a quick snippet from my tracking spreadsheet and I wanted to highlight the Prudential row. I added green shading to the “Current Share Price” column whenever the current price is less than my “DRIP basis” which is my cost when I bake in any impact of reinvesting shares. So not only was Prudential below my cost basis but coupled with the upcoming dividend yield capturing 5% it felt compelling to add. I will say this is also under the guise that while the recent earnings announcement disappointed investors and thus the sudden and sharp stock price drop, the long term thesis is still intact.

In a similar theme, I added some more shares of 3M (MMM) to jump in before an upcoming dividend. Again, this is all in my tax advantaged account so I’m not trying to capture the short term dividend with implied taxes.

Possible Transactions

I may add to my Walgreens stake though I haven’t decided one way or the other yet. The current yield is quite nice at 3.6% and I’m down a little bit from my initial stake. The yearly increase of about 3% was low but it is still an increase.

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