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.