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!

Monthly report: November 2024

As we wrap up November, it’s a perfect time to reflect on the performance of the global markets, my portfolio’s movers, and how my dividend income has grown compared to last year. Let’s dive into the numbers and insights!

Global Market Performance

November brought mixed but generally positive results across the global indices. The standout performers were international equity markets, signaling resilience amid a backdrop of mixed macroeconomic data. Here’s a snapshot of key indices:

• AEXGR: The index was nearly flat, with a marginal 0.1% increase, reflecting subdued performance in the Dutch market.
• SX5E (Euro Stoxx 50): Declined by 1.5%, signaling some turbulence in European equities.
• IWDA (MSCI World ETF): Gained a solid 6.6%, underscoring the strength in global equities.
• DJITR (Dow Jones Industrial Total Return): Surged by 7.0%, supported by robust earnings from industrial giants.
• S&P 500: Increased by 5.3%, driven by growth in the tech and energy sectors.

The performance of U.S. markets continues to outpace European benchmarks, highlighting the divergence in market sentiment.

Portfolio Highlights: Top Gainers and Losers

November was a month of significant activity in my portfolio, with more winners than losers. Here are the highlights:

Top 3 Gainers

• Kinder Morgan (KMI): Up 17%. The energy infrastructure company benefited from rising natural gas demand and improved pipeline margins.
• Deere & Co (DE): Up 16%. Strong agricultural equipment sales and cost optimization strategies boosted investor confidence.
• Cummins Inc. (CMI): Up 14%. Increased demand for diesel engines and electrification efforts drove its stock higher.

Top 3 Losers

• Hannon Armstrong (HASI): Down 9%. Renewable energy stocks faced headwinds as interest rates remained elevated.
• Brookfield Infrastructure Partners (BIP): Down 6%. A stronger U.S. dollar weighed on global infrastructure revenues.
• BHP Group (BHP): Down 6%. Falling commodity prices, especially iron ore, pressured this mining giant.

Overall, my portfolio had a winner-to-loser ratio of 1.5, with an average gain of 8.1% among gainers and an average loss of 2.6% among the decliners.

November Dividend Income: A Year-Over-Year Comparison

Dividend income remains the cornerstone of my investment strategy, and November 2024 delivered steady growth compared to last year. Here’s the breakdown:

Dividend income increased mostly because of dividend raises. Only my recent purchase of two additional shares in Deere helped my monthly dividend income.

Looking Ahead

With December just around the corner, I expect my dividend income to receive a seasonal boost, given the quarterly payout schedules of many companies. Furthermore, ongoing reinvestments and dividend hikes are expected to fuel my long-term compounding journey.

I’ll leave you with a timeless quote from John Bogle, the father of index investing, which perfectly encapsulates my approach to dividend growth investing:

“The stock market is a giant distraction to the business of investing.”

By focusing on the fundamentals—steady dividend growth and disciplined reinvestment - I remain confident in my portfolio’s ability to deliver consistent and growing income over the long term.

How was your November? Let me know in the comments below!

Monthly report: October 2024

Global Market Performance in October 2024

October brought varied results across major global indices, reflecting an uncertain but cautiously optimistic month for investors:

• AEXGR: The Dutch AEX Gross Return Index decreased by 1.5%, slipping from €3,557 to €3,502. This was driven by continued challenges in the European economy, including high inflation and slower-than-expected growth.
• IWDA: The iShares MSCI World Index (IWDA) recorded a solid gain of 2.9%, rising from €97 to €99, indicating resilient performance across global markets.
• DJITR: The Dow Jones Industrial Total Return Index (DJITR) inched up 0.6%, moving from $105,104 to $105,734. Steady performance from large-cap U.S. companies helped support this increase.
• S&P 500: The S&P 500 index showed stronger growth at 1.7%, rising from $5,709 to $5,808. Positive earnings reports from the tech and healthcare sectors, as well as resilient consumer spending, contributed to the index’s gains.

Overall, U.S. and global markets demonstrated cautious optimism, while European markets continued to face headwinds. This backdrop influenced individual stock performances within my portfolio, where some companies experienced gains while others declined.

Top 3 Gainers in My Portfolio

• KMI (Kinder Morgan): +10%
  Kinder Morgan’s stock was a top performer in my portfolio this month, likely benefiting from rising natural gas demand and steady dividend payouts, which bolstered investor confidence.
• APD (Air Products and Chemicals): +9%
  APD saw a significant increase in October, possibly due to its strong earnings in industrial gas and chemicals, which remain critical across sectors such as healthcare and energy.
• PM (Philip Morris International): +8%
  Philip Morris reported strong results, with its transition toward smoke-free products capturing market attention. The company’s high dividend yield continues to attract income-focused investors.

Top 3 Losers in My Portfolio

• AOS (A. O. Smith Corporation): -14%
  AOS experienced a double-digit drop, perhaps due to concerns over the housing and construction sectors. Rising interest rates are impacting housing demand, which directly affects AOS’s water heating products.
• ASML (ASML Holding): -10%
  ASML faced headwinds due to concerns over semiconductor demand and potential slowdowns in tech spending. Although ASML is a tech leader, the current economic uncertainties weighed on its stock price.
• BHP (BHP Group): -10%
  BHP, a major mining company, also faced a tough month. Falling commodity prices and fears of an economic slowdown impacted investor sentiment, leading to a drop in its stock price.

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

Examining my dividend income for October 2024 in comparison to last year reveals some interesting trends:

In October 2024, my U.S. dollar-denominated dividends grew slightly from $217 in October 2023 to $222, an increase of 2.3%. Noteworthy contributors included HASI (Hannon Armstrong) with a 5.1% increase, MRK (Merck & Co.) with 5.5%, and O (Realty Income), which provided a substantial 37.2% growth in dividend income, due to an additional purchase last year. These companies demonstrated stability in both payouts and growth, enhancing my overall income. ADP was a new dividend payer with a first payment of $11. MPW was a dissonant because of its dividend cut last quarter. We'll see how things develop in the coming months. Finally I sold my shares in BAX earlier this year so this will be a slight drag in the coming period. 

Despite the minor uptick in USD dividends, the after-tax total dividend income in October 2024 slightly decreased by 1.0%, from €175 to €173 after factoring in currency exchange fluctuations. 

Closing Thoughts: The Long View on Dividend Investing

October’s market performance and my portfolio’s dividend income are reminders of the importance of long-term thinking. Markets fluctuate and individual stocks can experience setbacks, but a diversified dividend growth portfolio can offer steady, compounding income over time.

As Benjamin Graham wisely put it:

"The individual investor should act consistently as an investor and not as a speculator.”

My focus remains on high-quality companies with reliable dividends, reinvesting income, and maintaining a balanced portfolio that can withstand market ups and downs. Each dividend payment brings me a step closer to financial independence, reinforcing the power of disciplined investing.