Monthly report: October 2025

October was a solid month for investors across the globe. After a volatile summer, markets found their footing again, buoyed by easing inflation expectations and renewed optimism around interest rate cuts in 2026. Let’s take a closer look at how major indices performed during the month:

• AEXGR (Netherlands): +3.6% — Dutch equities had a strong rebound, driven by cyclical sectors and resilient consumer demand.
• STOXX Europe 50 (SX5E): +2.1% — European markets climbed as corporate earnings came in better than expected and energy prices stabilized.
• iShares MSCI World (IWDA): +3.6% — Global equities mirrored this strength, supported by gains in technology and industrials.
• Dow Jones Total Return (DJITR): +2.4% — U.S. blue chips continued to perform steadily, with dividend payers leading the way.
• S&P 500: +1.7% — The broader U.S. market advanced modestly as megacaps took a breather after strong year-to-date rallies.

In short: October 2025 was a month of recovery and resilience, with most global markets showing healthy mid-single-digit gains.

Portfolio Performance – Top Gainers and Losers

While the overall market tone was positive, individual stock performances varied widely. Below are the top 3 gainers and losers in my dividend portfolio this month, along with possible explanations for their moves.

Top 3 Gainers

BEPC (+21%) – Brookfield Renewable Partners surged after strong Q3 earnings and upbeat guidance for 2026. The renewable energy sector benefited from improving sentiment around clean energy subsidies and stabilization in long-term bond yields, which eased pressure on capital-intensive firms.

MPWR (+10%) – Monolithic Power Systems delivered another strong quarter, continuing to benefit from secular growth in AI infrastructure and automotive semiconductors. Investors rewarded the company’s consistent margin expansion and robust dividend growth.

ASML (+9%) – The Dutch semiconductor equipment giant gained after reporting better-than-expected order growth, suggesting the chip downturn might be bottoming out. Long-term tailwinds from AI and advanced lithography remain intact.

Top 3 Losers

HASI (-12%) – Hannon Armstrong Sustainable Infrastructure continued to struggle amid rising financing costs and sector rotation away from yield-sensitive renewable assets. Despite solid fundamentals, sentiment remains fragile in the clean energy space.

ADP (-11%) – Automatic Data Processing saw profit-taking after a long run-up. Slower employment growth in the U.S. and slightly weaker guidance also weighed on the stock.

PM (-10%) – Philip Morris International declined after a mixed quarterly report. Although its smoke-free segment continues to grow, foreign exchange headwinds and regulatory uncertainties pressured investor sentiment.

Looking across my full portfolio, roughly half of the holdings showed gains, while the other half declined in October. This balance reflects the broader market mood: cautious optimism with select strength in technology and renewables.

The average increase among winners was +5%, while the average decline among laggards was a tad higher (around -5,7%). Overall, my portfolio gained slightly because my bigger positions performed better on average than my smaller positions. However outperformed the global equity benchmark (IWDA +3.6%) thanks to strong performance in BEPC, MPWR, and ASML, which offset some weakness in defensive dividend names like HASI, ADP, and PM.

Dividend Income – Year-over-Year Comparison

Turning to the main focus of this blog — dividends — October’s results were steady, though slightly softer after currency adjustments, compared to last year.

On a constant currency basis, my dividend income grew +5% year-over-year, which is perfectly in line with my long-term goal of 5–7% annual growth. However, due to a stronger euro versus the dollar, the reported euro income actually decreased by 1.6%.

This serves as a good reminder of the impact of currency fluctuations on international dividend portfolios. While the fundamentals of my U.S. holdings remain strong, a stronger euro can temporarily mask their progress in nominal terms. Over the long run, though, these fluctuations tend to even out.

Key Observations

• Dividend growth remains intact – Companies like MRK (+5.2%), O (+2.3%), and PM (+8.9%) continue to increase payouts consistently.
• MPWR is a new dividend payer after my purchase back in March.
• Currency headwinds are temporary – A mild euro appreciation hurt my reported income, but underlying growth remains healthy.
• Diversification is paying off – With dividends coming from multiple sectors and geographies, monthly income volatility stays low.
• Even with the small decline after FX adjustments, I consider this a successful month — my purchasing power remains strong, and my dividend stream continues to grow organically through reinvestment and payout hikes.

Final Thoughts

October was a month of stabilization and renewed optimism. Markets rallied, dividend growth continued, and the portfolio held up well despite some headwinds in renewable energy and defensive sectors.

For me, this reinforces the beauty of dividend growth investing: you get paid to wait, even when prices fluctuate. The focus remains on owning high-quality companies that steadily raise their dividends year after year — not on chasing short-term price swings.

As legendary investor Warren Buffet once said:

“Someone’s sitting in the shade today because someone planted a tree a long time ago.”

Here’s to another month of compounding returns and financial progress!

Monthly report: September 2025

September has come to a close, and it turned out to be one of the most remarkable months of the year for both the markets and my personal dividend journey. While global markets continued their steady climb, my portfolio had some spectacular movers, and my dividend income hit new highs—fueled by a very special one-off payment.

Global Market Performance in September

The overall market mood in September was optimistic. Despite lingering concerns around interest rates, inflation, and global growth, equities pushed higher:

• AEXGR (Netherlands): +5.1% – Dutch equities delivered the strongest performance among the indices I track, with standout results from ASML lifting the index.

• SX5E (Euro Stoxx 50): +2.6% – European blue chips continued their steady upward trend.

• IWDA (World ETF): +2.4% – global diversification once again rewarded investors, reflecting broad-based gains across regions.

• DJITR (Dow Jones Industrial Total Return): +2.4% – U.S. industrials held firm, with defensive sectors still in demand.

• S&P 500: +3.8% – technology and growth stocks pulled the index higher, driven by AI enthusiasm and solid earnings from big tech.

In short: September was another strong month for equities, with the Dutch market leading the way and the S&P 500 showing robust gains.

Portfolio Movers: Top 3 Gainers and Losers

Top 3 Gainers

• ASML +30%
  Semiconductor stocks were on fire in September, and ASML stood out with a massive +30% gain. Investor enthusiasm for chipmaking equipment surged as demand projections for AI and high-performance computing pushed growth expectations higher. ASML remains one of my key European holdings, and this month’s jump shows why.

• MPW (Medical Properties Trust) +15%
  MPW continued its recovery story. After months of bad news, the REIT reassured investors with progress on asset sales and refinancing, which eased concerns about its balance sheet. The high dividend yield remains controversial, but sentiment clearly shifted.

• MPWR (Monolithic Power Systems) +12%
  Another semiconductor name, MPWR benefited from the same AI-driven optimism that boosted ASML. With its niche in power solutions, MPWR is increasingly seen as a strong long-term compounder in the chip sector.

Top 3 Losers

• TXN (Texas Instruments) -8%
  After bouncing back in August, Texas Instruments fell again in September. Concerns about slowing demand in automotive and industrial chips weighed on the stock. While it remains a reliable dividend payer, near-term growth expectations are under pressure.

• APD (Air Products & Chemicals) -7%
  APD dropped as investors worried about slowing industrial gas demand and rising project costs. Long term, hydrogen and clean energy remain exciting growth drivers, but the market wants more clarity on execution.

• UNA (Unilever) -7%
  Unilever lagged as consumer staples fell out of favor in September. While the company continues to deliver steady cash flow, growth is slow, and investors rotated into more cyclical and growth-oriented names.

Looking across my portfolio, September was a winning month:

• 21 stocks posted gains, with ASML, MPW, and MPWR leading the charge. On average the winners increased by more than 6%.

• 16 stocks declined, with most losses between -2% and -8% (on average 3,5%).

This positive skew meant my portfolio kept pace with the strong global markets.

Dividend Income – September 2025 vs. September 2024

Now to the highlight of the month: dividend income.

That’s a staggering +439.5% increase year-over-year compared to last year.

The outsized jump came from a very special one-off payout from my employer, Brink, which paid €2.681 in dividends this month. This extraordinary event pushed my total far beyond a “normal” September. Excluding Brink, dividend growth was still strong, with a +12% YoY increase and that is with a 6% headwind in FX.

Notable dividend growers included:

• AFL +16%

• WMT +13.3%

• V +13.5%

• CMI +9.9%

On the flip side, Intel dropped off the list after I sold the stock back in August 2024.

Final Thoughts

September 2025 will go down as a landmark month in my dividend journey. The extraordinary payout from Brink pushed my income to levels I never imagined when I started this blog. But even without that one-time boost, the underlying picture is healthy: U.S. dividends are growing nicely, European names like ASML are delivering capital gains, and the portfolio is broadly participating in market strength.

It’s important to remember, though, that one-off events won’t repeat every year. The real story is the steady, compounding growth from reliable dividend growers.

As John D. Rockefeller once said:

“Do you know the only thing that gives me pleasure? It’s to see my dividends coming in.”

And this September, they certainly did.

Recent buy: NextEra Energy

I’m excited to share that I recently bought 15 additional shares of NextEra Energy (NEE), increasing my stake meaningfully in what has become one of my core dividend-growth holdings.

What I Bought Before & When

Back in April I made a purchase of NEE shares (see my April buy post), when I added to my position at an average cost of around $66 per share. That earlier buy was meant to start out a base position, and since then I’ve watched the company’s fundamentals and prospects unfold favorably.

This new purchase was done at current market levels (roughly $72), reflecting the stock’s rise since that earlier buy.

Why Buy More — Rather Than Opening a New Position

I see several reasons to deepen an existing position rather than diversify into another name:

1. Concentration in quality – I already believe strongly in NEE’s long-term outlook; adding to what I own increases potential upside and dividend yield on capital already committed.

2. Efficiency of capital deployment – Rather than spreading thin, adding to a proven idea lets me leverage research I already have, and lowers friction costs (brokerage, tracking).

3. Compounding effect – More shares in a high-quality dividend grower means faster growth in future income, all else equal.

In short: if I’m confident in NEE, it makes sense to lean in.

Why It Looks Attractive Now

• Earnings strength & tailwinds: NEE recently beat profit expectations for Q2 2025 (adjusted EPS of $1.05), even if revenue came in a bit light.

• AI / data center demand: The company is ramping its backlog of renewable + storage projects geared toward tech/data center customers — a growth vector in a world hungry for clean, reliable power.

• Nuclear revival opportunity: NEE is advancing plans to restart its Duane Arnold nuclear plant in Iowa (shut in 2020), tapping into renewed interest in firm, low-carbon baseload for AI/data center loads.

• Valuation and forward growth: Analysts forecast mid-to-high single digit growth in adjusted earnings over 2025–26.

Given all that, the current price offers a compelling risk/return tradeoff for long-term investors.

Final Thoughts

With this move, I’m not just padding my portfolio — I’m reinforcing conviction. NEE checks many boxes: stable regulated utility + growth in renewables + optional upside from nuclear revival. By increasing rather than diversifying, I double down on a name I trust, and position myself for better compounding of dividend income down the road.

I can’t wait to see how this holding contributes to my passive income stream in the years to come.

Recent buy: ASML

This week, I completed a milestone: I bought 1 additional share of ASML, taking my total position to an even 10 shares. My previous buys were from back in 2023 at prices between € 400 and €480. Today's purchase was a bit pricier—around $680.

Rounding up the position to 10 felt cleaner—not just psychologically, but it also helps me simplify tracking and future dividend calculations. An odd number always felt like unfinished business.

Why Now? 

ASML was trading at around € 1.000 last year but declined significantly. In the last 12 months the share price hovered between € 550 and € 750. Todays price seems reasonable if you still believe in ASML's leading position in the semi-conductor business. 

ASML’s move this week adds a powerful strategic dimension: it has led a major funding round in French AI startup Mistral AI, investing €1.3 billion—becoming its largest shareholder with an approximate 11% stake. This isn’t just financial support—it’s a synergy play. ASML now gains a seat on Mistral’s strategic committee, positioning the company to integrate advanced AI into its lithography tools. That could mean smarter, more efficient chip manufacturing—an edge that may well translate into future profits.

So Why Is This a Smart Move?

Technological Alignment – ASML isn’t just lending cash; it's embedding itself in the frontier of AI-powered chipmaking. That convergence could fuel long-term innovation.

European Sovereignty – Both ASML and Mistral contribute to strengthening Europe’s tech base, reducing dependency on US or Chinese firms.

Growth Potential – ASML stands to benefit from improved tool performance via AI, while Mistral gains credibility and scale. It’s a mutual boost.

Conclusion

With this acquisition, I’m not just boosting my dividend potential—I’m aligning with a tech leader stepping firmly into the future of AI-enabled semiconductor production.

Monthly report: August 2025

August has wrapped up, and with it another month of dividend income and portfolio performance. Compared to July, global markets were far more upbeat this time around, with several indices showing healthy gains. Let’s take a closer look at how the broader market did, how my portfolio movers stacked up, and finally how my dividend income compared year-over-year.

Global Market Performance in August

August was a strong month for global equities. The market mood was fueled by resilient corporate earnings, cooling inflation numbers, and renewed investor optimism:

• AEXGR (Netherlands): +1.9% – Dutch equities posted a solid gain, supported by cyclical names and financials.

• SX5E (Euro Stoxx 50): +3.9% – European blue chips rallied, making August one of the better months this year.

• IWDA (World ETF): +2.9% – diversified global exposure continued to pay off.

• DJITR (Dow Jones Industrial Total Return): +4.2% – a strong showing for U.S. industrials, with defensive names holding steady.

• S&P 500: +2.8% – tech kept the U.S. benchmark moving higher, but breadth improved compared to earlier months.

In short: August was a rising tide that lifted most boats. With this backdrop, my portfolio benefited strongly as well.

Portfolio Movers: Top 3 Gainers and Losers

Even though the general trend was positive, individual holdings had their own stories.

Top 3 Gainers

• CMI (Cummins) +12%: Cummins continued its strong run from July, fueled by investor enthusiasm around hydrogen and electrification projects. With consistent earnings and a solid dividend policy, the market rewarded CMI once again.

• TXN (Texas Instruments) +12%: After struggling in July, Texas Instruments bounced back. Investors seemed reassured by management’s outlook, expecting a gradual recovery in semiconductor demand. Its stability as a dividend payer added to the appeal.

• MPW (Medical Properties Trust) +11%. Surprisingly, MPW staged a recovery after months of weakness. Positive news on debt restructuring and progress in selling non-core assets gave investors confidence that the company is addressing its balance sheet challenges.

Top 3 Losers

• DE (Deere) -4%. Deere faced headwinds as analysts cut outlooks for agricultural equipment demand. Farmers have been more cautious with capital expenditures, weighing on Deere’s short-term prospects.

• KMI (Kinder Morgan) -4%. Energy infrastructure names lagged as oil and gas prices cooled off during August. For a pipeline operator like Kinder Morgan, stable volumes help, but investor sentiment remains tied to broader energy trends.

• BEPC (Brookfield Renewable) -1%. Renewable energy names took a breather after a strong July. Rising interest rates pressured yield-sensitive assets like Brookfield Renewable, even though the long-term story remains compelling.

The August picture looks much brighter than July:

• Around 33 stocks posted gains, with many names like HASI, BHP, and AFL also delivering strong double-digit or high-single-digit returns. The winners gained on average almost 5%.

• Roughly 8 stocks declined, mostly in the -1% to -4% range.

This healthy skew toward gainers explains why my portfolio kept pace with the strong performance of the global indices.

Dividend Income – August 2025 vs. August 2024

Now to the real reason I track my portfolio so closely: dividends. Here’s the comparison for August:

In constant FX terms, my dividends actually grew.  USD dividends rose by +4.5%, with Deere (+22.4%) and Texas Instruments (+4.6%) leading the way. Dividend income from Deere was fueled by purchasing extra shares last year. Euro dividends also grew, with ASML increasing its payout by +5.3%. Unfortunately, the strong euro-dollar exchange rate worked against me, turning a nice underlying growth into a reported -1.4% decline after tax.

This illustrates an important point: even if your companies continue to grow payouts, currency fluctuations can mask the underlying progress. 

Final Thoughts

August was a refreshing change compared to July. Markets rallied, my portfolio had far more winners than losers, and dividend income—although slightly down after FX—was solid. Dividend growth investing is a long game, and months like this show that patience pays off, even if currency swings occasionally hide the true growth underneath.

As Peter Lynch once said:

“The real key to making money in stocks is not to get scared out of them.”

Dividend investing works the same way: stay invested, reinvest dividends, and trust in the compounding power of time.

Monthly report: July 2025

The month of July is behind us, and with it another opportunity to reflect on both the global markets and my personal dividend journey. July wasn’t a month of big fireworks on the markets, but it showed once again how different regions and asset classes can move in their own rhythm. Let’s dive in.

Global Market Performance in July

Looking at the broader indices, July offered a mixed picture:

• AEXGR (Netherlands): +0.1% – essentially flat, showing that Dutch equities treaded water.
• SX5E (Euro Stoxx 50): +2.1% – European blue chips gained modestly, helped by strong earnings from industrials and financials.
• IWDA (World ETF): +4.7% – global diversification paid off, with international equities showing strong momentum.
• DJITR (Dow Jones Industrial Total Return): +0.0% – a quiet month for the Dow, with cyclical stocks lagging behind.
• S&P 500: +2.7% – U.S. equities remained resilient, fueled by strong tech earnings and continued optimism around AI-related investments.

In short: the U.S. and global equities performed well, Europe kept a steady pace, and the Dutch market was flat. Against this backdrop, let’s see how my own portfolio developed.

Portfolio Movers: Top 3 Gainers and Losers

My portfolio didn’t move in unison with the broad market. There were clear winners and losers:

Top 3 Gainers

• CMI (Cummins) +12%. Cummins surged after reporting strong quarterly results and optimism around its hydrogen and clean energy initiatives. Investors seem to appreciate that the company is positioning itself for a low-carbon future, while still generating steady profits from its core engine business.
• BEPC (Brookfield Renewable) +12%. Renewable energy got a strong push this month. With governments and corporates doubling down on their green commitments, BEPC benefited from higher investor appetite for long-term sustainable energy plays. BEPC was also a top performer last month!
• WMT (Walmart) +9%. Walmart gained as it showed strong resilience in the consumer sector. The company reported better-than-expected earnings, highlighting how its scale and efficiency give it a competitive edge even as consumers remain price-sensitive.

Top 3 Losers

• TXN (Texas Instruments) -14%. Texas Instruments struggled as demand in the semiconductor sector cooled, particularly in industrial and automotive markets. The company is still a dividend stalwart, but growth expectations have been tempered for the short term.
• CNI (Canadian National Railway) -11%. Railways are often seen as steady performers, but CNI dropped amid concerns about slowing North American freight volumes and potential labor cost increases. Long-term fundamentals remain intact, but the market is cautious.
• BMY (Bristol-Myers Squibb) -11%. Bristol-Myers faced headwinds after weak pipeline updates and concerns over patent cliffs on some of its blockbuster drugs. The stock’s defensive nature wasn’t enough to offset investor worries. BMY was also a dog performer last month.

Looking at the full list, my portfolio had slightly more losers than winners.

About 16 stocks increased in price, led by Cummins and Brookfield Renewable.

Around 21 stocks declined, with TXN, CNI, and BMY dragging performance.

On average, the gainers rose by about +4,8%, while the losers fell by -5,2%. This tilt toward the negative side explains why my portfolio slightly underperformed the global indices despite some strong individual showings.

Dividend Income

And now the most important part: dividends. After all, short-term price fluctuations are just noise compared to the long-term compounding effect of growing passive income.

That’s a 2.3% drop in constant FX terms compared to last year and a much steeper -9.3% decline after currency effects and tax.

The main culprit was Medical Properties Trust (MPW), which slashed its payout from $30.00 to just $16.00, a painful -47% cut. On the positive side, Coca-Cola (+5.2%), Merck (+5.2%) and Philip Morris (+3.8%) delivered solid dividend growth. I also received a new dividend due to my purchase of two shares in MPWR earlier this year. It's a rather small position with a low dividend yield but it still counts!

This month serves as a reminder that dividend investing isn’t a straight line upward. Cuts happen, especially in riskier high-yield positions like MPW. The key is diversification and focusing on quality companies that can sustain and grow their payouts.

Final Thoughts

July wasn’t my strongest month for dividend income, but the beauty of dividend growth investing lies in the long-term trend, not in one-off months. Despite the temporary setback, I’m confident that my portfolio will continue to deliver growing passive income in the years to come.

As Warren Buffett once said:

“Do not save what is left after spending, but spend what is left after saving.”

Dividends are a perfect example of this philosophy: let your portfolio do the saving and investing for you, and you’ll reap the benefits over time.

Monthly report: June 2025

The first half of 2025 has officially come to a close, and June didn’t disappoint in terms of market movement and dividend income surprises. As a dividend growth investor, I love reflecting on my portfolio’s performance—not just in terms of gains and losses, but especially the sweet stream of passive income that keeps compounding month after month.

Let’s break down what happened in June, how my portfolio fared, and how my dividend income compared to the same time last year.

Global Markets in June 2025

June was a mixed month across global markets:

• U.S. markets surged: The S&P 500 rose by +4.5% and the Dow Jones Total Return Index (DJITR) followed closely with a +4.3% gain, driven by continued strength in tech and industrials.
• International markets were more subdued: The global ETF IWDA ticked up +1.4%, showing steady global optimism.
• Europe lagged behind: The AEXGR fell -0.5%, while the Euro Stoxx 50 (SX5E) dropped -1.0%, largely due to mixed economic data and ongoing political uncertainty.
• U.S. stocks clearly took the spotlight, which also benefited my largely dollar-denominated portfolio.
  
  

Portfolio Movers: Top Gainers & Losers

Based on price changes in my holdings, here are the standouts for June:

Top 3 Gainers

• Brookfield Renewable (BEPC): +13%. A strong quarter and guidance upgrade boosted sentiment. Investors cheered improved cash flow and long-term growth potential in renewables.
• Texas Instruments (TXN): +13%. Chip stocks rallied on AI-driven demand optimism. TXN benefitted from increased exposure to automotive and industrial semis.
• Monolithic Power Systems (MPWR): +9%. Another semiconductor winner, riding the AI and efficiency wave. Solid earnings and upward revisions fueled the rally.

Top 3 Losers

• Unilever (UNA): -6%. Weak emerging market performance and currency headwinds weighed on results. Investors were unimpressed by flat volume growth.
• ADP & Bristol-Myers Squibb (AD, BMY): -5%. ADP declined slightly on valuation concerns, while BMY dropped after an FDA delay and guidance downgrade in its oncology pipeline.
• Ahold Delhaize (AD): -4%. European retail sentiment weakened, and AD followed broader European indices lower, mirroring the AEXGR’s -0.5% drop.

In my portfolio I had 22 holdings with a positive price return, and 15 holdings with a decline in price. That gives a winners-to-losers ratio of roughly 60%. A respectable outcome in a choppy month for global equities.

The average gain among winners is about 5% and the average loss among losers is -2.6%. This positive skew in return distribution is exactly what I aim for—steady gains with limited downside.

Dividend Income: Then vs. Now

Here's how my dividend income stacked up compared to June last year:

This sharp drop is explained by the absence of the dividend from Brink, my employer’s company, which paid just under € 2.400 last year. There will be a final dividend of about 10% more than last year. It iwll be paid in September so all is good on that front. 

Excluding this, my dividend still have grown with about 8%. Notable contributors include:

• Increased positions like BIPC and BEPC.
• New additions like CNI and NEE.
• INTC and IBM paid me last year as well, but I sold them.

All in all a decent month!

Final Thoughts

June 2025 demonstrates the resilience and growth of my international dividend portfolio. The USD income saw solid growth, and the winners outweighed the losers—not just in quantity, but in average performance as well. In the spirit of staying the course, I’ll leave you with a quote from John D. Rockefeller:

"Do you know the only thing that gives me pleasure? It's to see my dividends coming in."

Thanks for reading! Let me know how your June dividends went in the comments.

Monthly dividend income: May 2025

May 2025 Dividend Report – Strong Market Gains & Steady Dividend Growth

As we wrap up May 2025, it’s time for my monthly dividend and market update. It’s been a positive month for global markets, and I’ve seen encouraging developments both in capital gains and income growth. Let’s dig into what happened in the markets and how it reflected in my portfolio and dividend income.

Global Market Overview – May 2025

Markets across the board posted solid gains in May. Here’s a quick snapshot of how major indices performed:

This strong performance came despite continued macroeconomic uncertainty. The standout was clearly the S&P 500, with tech and industrials leading the charge. Globally diversified ETFs like IWDA also benefited from broad-based optimism.

Top Portfolio Movers – May 2025

🏆 Top 3 Gainers

• TXN (Texas Instruments): +16%. A strong rebound supported by solid earnings and long-term optimism in semiconductors.
• MPWR (Monolithic Power Systems): +10%. Riding the AI infrastructure boom – great to see this name bouncing back.
• CNI (Canadian National Railway): +10%. Last year I added 20 shares, and they’ve paid off last month with strong performance tied to improved freight volumes and economic sentiment. I am still down a bit on this purchase however.

🔻 Top 3 Losers

• MPW (Medical Properties Trust): -11%. Continued weakness in the healthcare REIT sector.
• MRK (Merck): -8%. Likely a mix of biotech volatility and recent earnings reactions.
• AOS (A.O. Smith): -5%. Slight dip in cyclical industrials, nothing alarming for the long term.

Looking at my entire portfolio:

That’s about a 75% win ratio this month, with a fairly healthy average price gain among winners. The average gain among all stocks was approximately +5%, while the minority decliners averaged around -4%. The portfolio remains diversified across sectors and currencies, which helped absorb minor underperformance in areas like healthcare and real estate.

Dividend Income – May 2025 vs May 2024

The biggest driver was the addition of ASRNL, which contributed €78.40 this month. This is a recent portfolio addition, and it’s great to see such immediate income impact. The other reason dividend income was up was because of a recent addition of two shares in Deere and a 10% dividend raise earlier this year. May 2025 is now my highest May ever in dividend income.

Final Thoughts & Quote of the Month

May showed what dividend investing is all about: steady compounding, occasional price pops, and growing passive income. I’m especially proud of the diversification and the new positions (like ASRNL) that are already proving themselves.

As always, I’ll leave you with a quote to reflect on:

"Do you know the only thing that gives me pleasure? It’s to see my dividends coming in."

— John D. Rockefeller

Thanks for reading – and as always, happy compounding!

Monthly Dividend Income – April 2025

April 2025 turned out to be a challenging month across global markets. After a relatively calm first quarter, volatility returned in full force. However, my dividend portfolio proved its resilience once again, delivering income growth despite widespread declines in stock prices.

Global Markets Recap – April 2025

Markets worldwide retreated during April, driven by concerns about persistent inflation, interest rate uncertainty, and geopolitical tensions. Here’s a quick snapshot of the major indices:

These declines affected nearly all sectors, although defensive and dividend-focused stocks generally held up better than growth-heavy areas like tech. The pullback created pressure on capital appreciation but underscored the value of reliable dividend income.

Top 3 Gainers and Losers in My Portfolio

Despite the negative macro backdrop, several names in my portfolio posted solid gains.

Top 3 Gainers:

• Walmart (WMT): +10%. Strong quarterly earnings and solid U.S. sales performance helped drive the stock higher.
• Philip Morris (PM): +8%. Consistent cash flows and a stable dividend made it a safe haven in April.
• Ahold Delhaize (AD): +4%. A defensive consumer staple that continues to perform steadily in uncertain times.

Top 3 Losers:

• Bristol Myers Squibb (BMY): -16%. Weak guidance and increased competitive pressures led to a sharp drop.
• Shell: -15%. Energy prices softened and geopolitical risks weighed heavily on the stock.
• Hannon Armstrong (HASI): -11%. As a renewable energy REIT, it was hit hard by declining and uncertain markt sentiment.

Earnings Highlights – Q1 Results

Several companies in my dividend portfolio reported earnings in April. Here are a few noteworthy updates:

• Walmart (WMT): Beat expectations on revenue and earnings, citing strength in grocery and e-commerce sales.
• Johnson & Johnson (JNJ): Delivered results in line with expectations, though rising input costs remain a concern.
• ASML: Missed estimates slightly due to lower demand from China and cautious guidance for the rest of 2025.
• Merck (MRK): Reported strong sales from its oncology segment, led by Keytruda.

Overall, all companies maintained their dividends and several reiterated their commitment to shareholder returns.

Winners vs. Losers – Portfolio Ratio

April saw a clear tilt toward underperformance in my portfolio:

This divergence highlights how a few outperformers, like Walmart and PM, helped cushion broader declines. It also underlines the importance of diversification—something that continues to serve my long-term strategy well.

Dividend Income – Year-over-Year Growth

Despite market turbulence, dividend income remained steady—and even grew compared to April 2024:

The modest growth reflects dividend hikes (e.g. WMT, PM), reinvestment effects, and new positions such as ADP and MPWR. On the downside, Medical Properties Trust (MPW) slashed its dividend by -47%, and I sold my position in Baxter (BAX) in the beginning of 2024. This is therefore the last quarter in which this portfolio move negetively affects the year-on-year comparison.

Still, a +2.0% after-tax increase during a volatile month is a great example of why dividend investing can offer reliable income even when prices are falling.

Closing Thoughts

Dividend investing remains a pillar of my financial strategy, offering consistency amid market noise. While price fluctuations are inevitable, the ability to generate growing income month after month is incredibly reassuring—and motivating.

“Do you know the only thing that gives me pleasure? It’s to see my dividends coming in.”

— John D. Rockefeller

Here’s to more compounding, more consistency, and more dividends in the months ahead.

Recent buy: NextEra Energy

I'm excited to share a recent addition to my dividend portfolio: 25 shares of NextEra Energy (ticker: NEE). This purchase aligns with my long-term strategy of investing in companies that offer consistent dividend growth and are positioned for sustainable future performance.​

Why NextEra Energy?

NextEra Energy is one of the largest electric utility companies in the U.S., primarily serving Florida through its subsidiary, Florida Power & Light. Beyond traditional utilities, NextEra is a global leader in renewable energy, boasting one of the world's largest portfolios of wind and solar power assets. This dual focus on reliable utility services and clean energy innovation makes it a compelling choice for dividend growth investors.​

Dividend Growth and Yield

As of early 2025, NextEra offers an annual dividend of $2.26 per share, translating to a yield of approximately 3.48%. More impressively, the company has increased its dividend for 31 consecutive years, with an average annual growth rate of over 10% in recent years. Management has expressed confidence in continuing this trend, targeting roughly 10% annual dividend growth through at least 2026.

Financial Performance

In 2024, NextEra reported adjusted earnings per share (EPS) of $3.43, marking an 8.2% increase from the previous year. The company also expanded its renewable energy capacity by commissioning 8.7 gigawatts of new projects, with a backlog exceeding 12 GW. These developments underscore NextEra's commitment to growth and its strong position in the evolving energy landscape.​

Investment Rationale

By acquiring 25 shares at approximately $66 each, I've invested around $1.650 in NextEra Energy. This addition is expected to yield about $56 in annual dividends, with the potential for this income to grow over time given the company's dividend growth trajectory. NextEra's blend of stable utility operations and leadership in renewable energy aligns well with my investment goals, offering both income and growth potential.​

I'll continue to monitor NextEra's performance and share updates on how this investment contributes to my overall dividend income. As always, I welcome your thoughts and discussions on dividend investing strategies.

Monthly update: March 2025 - Navigating Market Volatility

As we wrap up another month in 2025, it’s time to reflect on how the markets performed, how my portfolio fared, and most importantly, how my dividend income has progressed compared to last year. Let’s dive in!

Global Market Performance in March 2025

March was a tough month for global markets, with most major indices experiencing a decline:

• AEXGR fell -3.4%, reflecting weakness in Dutch stocks.
• SX5E (Euro Stoxx 50) dropped -5.3%, showing broader European market struggles.
• IWDA had the steepest decline, -8.2%, indicating global equity weakness.
• DJITR dipped -2.7%, showing a slowdown in U.S. transport stocks.
• S&P 500 declined -4.1%, adding to the ongoing market correction in the U.S.

Overall, March was a challenging month for equities, with widespread declines across global markets.

Top Gainers and Losers in My Portfolio

Despite the tough month, a few of my holdings managed to perform well:

• ExxonMobil (XOM): +10% – The energy sector showed resilience, with XOM benefiting from strong oil prices and stable earnings.
• Brookfield Renewable (BEPC): +5% – Renewable energy stocks held their ground, and BEPC showed a solid recovery.
• Hannon Armstrong (HASI): +5% – Another renewable energy stock that managed to perform well despite broader market weakness.

However not all holdings fared well in March:

• Cummins (CMI): -12% - The diesel and natural gas engine manufacturer faced pressure due to supply chain issues and concerns over slowing demand. Industrial stocks were hit particularly hard in the market downturn.
• T. Rowe Price (TROW): -11% - Asset management companies like T. Rowe Price suffered due to market volatility and declining assets under management (AUM). Lower investor confidence in equities led to increased fund outflows.
• Walmart (WMT): -10% - Retail stocks struggled as consumer spending slowed.

Dividend Income Growth: March 2025 vs. March 2024

My dividend income continued its upward trend, showing strong year-over-year growth:

Total dividend income (March 2024): €395

Total dividend income (March 2025): €460

YoY growth: +16.5%

Despite market volatility, my passive income stream continues to grow, reinforcing the power of dividend investing.

Closing Thoughts: A Buffett Quote

As Warren Buffett wisely said:
"If you don’t find a way to make money while you sleep, you will work until you die."

This month’s performance is a perfect reminder of why I continue to invest in high-quality dividend stocks. Market fluctuations are temporary, but a well-built dividend portfolio keeps generating income, regardless of short-term volatility. Onward to April!

Recent Buys for My Dividend Portfolio (ASR, IWDA, BIPC, MPWR)

As part of my ongoing strategy to build a strong and growing dividend portfolio, I’ve made some recent additions that I believe will contribute to long-term wealth accumulation. Here’s a quick breakdown of my latest buys:

• ASR Nederland (ASRNL): ASRNL is a solid Dutch insurance company with a strong track record of dividend payments. With its recent acquisition of Aegon’s Dutch operations, the company has positioned itself for further growth. I see ASRNL as a stable income-generating asset with an attractive yield. I bought 40 shares for about € 49 per share, resulting in an annual dividend of € 125.
• iShares Core MSCI World (IWDA): While not a direct dividend play, IWDA provides global diversification and exposure to high-quality companies worldwide. This ETF adds stability and growth potential to my portfolio, complementing my dividend-focused investments.
• Brookfield Infrastructure Corp (BIPC): BIPC operates in essential infrastructure sectors like utilities, transport, and energy. The company has a strong dividend history, and I expect steady income growth over the long term. Infrastructure is a defensive sector that performs well in different market conditions, making BIPC a great addition. I bought shares last year as well. With my recent addition of 40 shares after the share price drop of last week, I added $70 in dividend income.
• Monolithic Power Systems (MPWR): MPWR is a high-growth semiconductor company with increasing dividend payments. While its yield is relatively low, its strong capital appreciation potential and consistent dividend growth make it an exciting long-term hold. It's a more risky play but I wanted to increase my tech holdings a bit. These two shares will only deliver $12 in forword annual dividend income. 

With these additions, my portfolio continues to balance income generation and long-term growth. I’m excited to see how these investments perform in the coming years. Let me know what you think—are you adding any of these stocks to your portfolio?

Monthly update: February 2025

As February comes to a close, it's time to review how the global markets performed, analyze the biggest winners and losers in my portfolio, and assess my monthly dividend income growth compared to the previous year. Let’s dive into the details.

Global Market Performance in February 2025

The financial markets experienced mixed movements throughout February, with some indices posting gains while others showed slight declines:

• AEXGR: Gained +1.4%, reflecting a modest rise in Dutch stocks.
• SX5E (Euro Stoxx 50): Strong +4.9% increase, indicating a solid month for major European stocks.
• IWDA (Global Equity Index ETF): Slight -0.6% decline, showing global markets faced some pressure.
• DJITR (Dow Jones Industrial Total Return Index): Fell by -2.5%, suggesting weakness in large-cap U.S. industrials.
• S&P 500: Declined by -2.2%, reflecting some turbulence in the broader U.S. stock market.

The Euro Stoxx 50 led the way with a nearly 5% surge, while the U.S. markets struggled. A weaker dollar and concerns about economic data may have contributed to the declines in American indices.

Top 3 Gainers in My Portfolio

Despite market volatility, some stocks in my portfolio performed exceptionally well:

• MPW (Medical Properties Trust): +23%. A strong rebound in healthcare REITs contributed to MPW’s impressive performance this month.
• PM (Philip Morris International): +19%. Solid earnings and resilient dividend growth helped drive PM’s stock price higher.
• KO (Coca-Cola): +12%. Continued strength in consumer staples amid market uncertainty kept KO on an upward trajectory.

Top 3 Losers in My Portfolio

On the flip side, a few stocks struggled in February:

• MRK (Merck & Co.): -8%. Weak guidance for the upcoming quarter led to a decline in the stock price.
• APD (Air Products & Chemicals): -6%. Concerns over industrial gas demand and macroeconomic factors weighed on the stock.
• ASML (ASML Holding): -4%. Some profit-taking and semiconductor sector headwinds resulted in a slight decline.

Winners vs. Losers Ratio

With nearly four times as many winners as losers, my portfolio showed strong resilience despite broader market fluctuations.

Dividend Income Growth – February 2025 vs. February 2024

Comparing this February’s dividend income to last year:

• Total dividend income at constant FX: €230, up 4.6% YoY
• Total dividend income after FX effects: €239, up 8.2% YoY
• After-tax income: €203, reflecting 8.0% growth

My dividend income continues to show healthy year-over-year growth, reinforcing the benefits of my dividend growth investing strategy. The most important factor in my dividend growth is Deere. Last year I bought two extra shares but the company also raised its dividend by over 10%.

Final Thoughts

Despite some headwinds in the U.S. markets, my portfolio performed well in February. The high ratio of winners to losers highlights the importance of diversification, and my dividend income growth remains steady. As Warren Buffett once said:

“If you don't find a way to make money while you sleep, you will work until you die.”

Dividend investing continues to be my path to financial independence, and I look forward to seeing how the rest of the year unfolds. How did your portfolio perform in February? Let me know in the comments!

Monthly report: January 2025

As we step into 2025, it's time to review my monthly dividend income for January and assess how my portfolio performed over the past month. January turned out to be a strong month for the global markets, with positive momentum across major indices. Here’s a detailed breakdown of market performance, portfolio changes, and how my dividend income compared to the same period last year.

Global Market Performance in January 2025

January was an impressive month for the stock market, with major indices posting solid gains:

• AEXGR: Increased from €3,480 to €3,605 (+3.6%)
• SX5E (Euro Stoxx 50): Jumped from €4,918 to €5,282 (+7.4%)
• IWDA (Global Equity ETF): Increased from €105 to €107 (+1.7%)
• DJITR (Dow Jones Total Return Index): Rose from $106,133 to $112,454 (+6.0%)
• S&P 500: Climbed from $5,869 to $6,071 (+3.5%)

The strong performance was driven by resilient earnings, cooling inflation, and renewed investor confidence in economic stability. The Euro Stoxx 50 had the most notable increase, rising by 7.4%, indicating strength in European equities. The Dow Jones Total Return Index also had a significant 6.0% increase, reflecting strong market participation across sectors.

Top 3 Gainers and Losers in My Portfolio

Top 3 Gainers:

• APD (+18%) – Strong earnings and positive industry outlook drove this stock higher.
• MPW (+17%) – A rebound in healthcare REITs contributed to this significant gain.
• DE (+14%) – Continued demand for agricultural and construction equipment boosted the stock price.

Top 3 Losers:

• BEPC: -5% – Weak renewable energy sector performance impacted this stock.
• OHI (Omega Healthcare): -2%. Faced pressure from higher operating costs in the healthcare sector.
• TXN (Texas Instruments): -1%. A ,inor decline, likely a result of cautious semiconductor sector outlooks.

Overall, my portfolio had a strong month, with more stocks gaining than losing:

• 27 winners with an average increase of 6.1%
• 7 losers with an average decline of -1.6%

Winners/losers ratio: 3.9

This positive ratio indicates broad-based strength in my holdings, reinforcing my long-term investment strategy.

Dividend Income Comparison

One of the most exciting parts of dividend investing is watching income grow over time. Here’s how my January 2025 dividend income compared to the same period last year:

The YoY growth of 37% in after-tax dividend income is a fantastic milestone, showcasing the power of reinvestment, dividend increases, and portfolio expansion. The most important contributors to this success are:

• Increased dividend payment from Brink, my employer.
• Increased dividend payments from my US-holdings like HASI, MRK, O, CSCO and WMT.
• Purchase of ADP back in June 2024.
• I also sold my position in BAX back in March 2024 and suffered a dividend cut from MPW.  

Final Thoughts

January 2025 was a great start to the year, with strong market performance and impressive dividend growth. This reinforces my commitment to a long-term, dividend-focused investment strategy. To wrap up, here’s a quote from Warren Buffett that perfectly captures the essence of dividend investing:

“If you don’t find a way to make money while you sleep, you will work until you die.”

I look forward to seeing how the rest of 2025 unfolds and hope to continue building a reliable and growing income stream. How did your dividends perform this month? Let me know in the comments!

Monthly report: Dividend 2024

December has come to a close, and as I reflect on the past month, I’m struck by how the global markets performed and how these shifts impacted my dividend portfolio. Let’s dive into the highlights for December 2024.

Global Market Overview for December 2024

December saw mixed movements across global indices, reflecting a somewhat turbulent month in financial markets. Here’s how the major indices performed:

• AEXGR: Dropped slightly by -1.8%, closing at €3,419.
• SX5E: Managed a modest gain of +0.5%, ending the month at €4,869.
• IWDA: Declined by -1.7%, finishing at €104.
• DJITR: Experienced the largest drop of -4.9%, closing at $106,587.
• S&P 500: Fell by -2.3%, settling at $5,907.

The global markets reflected caution among investors, with most indices posting declines. This downturn highlights the volatility in markets as the year wrapped up.

Portfolio Highlights: Top Gainers and Losers

While the broader markets faced challenges, individual stocks in my portfolio had varying performances. Here are the top three gainers and losers for December:

Top 3 Gainers
I only have 2 stocks in my portfolio with an increasing stock price during the last month. That kinda tells what a month it has been.

• ASML: Rose by +2%, continuing to showcase resilience as a leader in the semiconductor space.
• BLK (BlackRock): Held steady with 0% change, a testament to its stability despite market fluctuations.

Top 3 Losers
I have 31 losing stocks with an average loss of about 6%. It hasn't been a good month in terms of price appreciation. The biggest losers are:

• HASI: Dropped by -14%, reflecting challenges in the clean energy sector (mainly uncertainties regarding policies from Trump?)
• APD (Air Products and Chemicals): Fell by -14%, likely impacted by macroeconomic pressures.
• BEPC (Brookfield Renewable): Declined by -13%, facing headwinds in the renewable energy space (mainly uncertainties regarding policies from Trump?).

While the losses were notable, it’s essential to remember that these fluctuations are part of the journey as a dividend growth investor. Over time, the compounding effect of dividends smooths out these bumps.

December 2024 Dividend Income: A Year-Over-Year Comparison

Now, let’s talk about the core of my strategy—dividend income. December is traditionally a strong month for dividends, and this year did not disappoint. Here's a comparison of December 2023 and December 2024:

In december 2024 my dividend income jumped to €441, a +25% year-over-year increase! This significant growth was fueled by a combination of factors:

• Dividend increases from core holdings such as AFL (+19%),  V (+13%), CMI (+8%) and KO (+5%).
• Increased position in JNJ with a purchase back in January last year,
• New positions in BEPC, BIPC and CNI.
• I also sold my positions in IBM and INTC.  

The compounding nature of dividend reinvestments continues to be a driving force behind this growth, and December’s performance is a clear testament to the power of this strategy.

Cumulatieve dividend income

Last year I received almost € 11.200 in dividend income. This is almost € 2.400 more than last year, a whopping 27% extra! We'll have to see what next year brings. I don't expect this type of growth to continue. For next year I expect an increase of about 10% in my dividend income.

Final Thoughts

As I close the chapter on 2024, I’m reminded of a timeless quote from Sir John Templeton:

“If you want to have a better performance than the crowd, you must do things differently from the crowd.”

Dividend investing might not always grab headlines, but its steady, compounding nature provides a reliable path to financial freedom. By focusing on quality companies and embracing a long-term mindset, I’m building a portfolio that not only weathers market storms but thrives over time.

Here’s to a prosperous 2025, filled with more dividends, growth, and opportunities!