Tuesday 30 June 2015

Dividend from Enel: June 2015

Enel, an Italian electricity company

The flow of dividends will from now on significantly decrease. My two US companies (Intel & IBM) and my UK one (BP) will keep paying each quarter but those massive once a year payment I only have one left after this one from Enel. I must say that I am pretty content with the overall dividend increase that I have received this year.

Enel increased their dividend slightly and I therefore received 63 € for my 450 shares. There were some taxes taken in the size of 23.02 € (I notice that Italy have increased their taxes from 20 to 26%) which gives me 39.98 € as cash on my account. With Enel I now have a YoC of 5.8% after almost two years of holding which I find to be great.

To find out more about Enel please click on analysis of Enel 2015.

To check out my current dividend payment history then please visit the Stock Dividends page which has now been updated.

Monday 29 June 2015

Analysis of Encana

Encana, a Canadian energy company

Company: Encana

ISIN CA2925051047 | WKN 798291 

Business: A Canadian energy producer. They are standing on three legs by: Natural Gas, Oil and finally Natural Gas Liquids, which when it comes down to it is one and the same leg that they are standing on and the extraction is being done via shale operations in most cases as I understood it.

Active: North America so Canada and the US of A.

P/E: 3.0

Comment: They are listed in the US and their financial statements are in USD so therefore I based also the analysis on that.

Sunday 28 June 2015

Summer break 2015 is here

Flowers, beautiful, friends, Sweden

I just now got the final result from my macro economy studies that I have conducted full-time at the University of Lund in Sweden. Full time today means that one have to collect 30 credits during one semester and one applies for the courses semester based. This, on the other hand, means that I have already applied for the new courses for the autumn semester,

When I was a student the last time then there were only three grades. Failed, Passed or you Passed with Extinction. Today they have decided to give more pads on the shoulders so you got F, E, D, C, B and A. F is failed and everything else is different levels of having too many points on the exam which, in the end, means that you studied too much.

Saturday 27 June 2015

Analysis of Uniqa

Uniqa, an Austrian insurance company

Company: Uniqa

ISIN AT0000821103 | WKN 928900 

Business: An Austrian insurance company. They are, as most of them, standing on three pillars: Property & Casualty Insurance (45% of premiums), Life Insurance (17% of premiums) and finally Health Insurance (38% of premiums). They are to 31.4% owned by Raiffeisen Zentralbank and to 30.6% owned by Uniqa Versicherungsverein Privatstiftung.

Active: Austrian and Central an Eastern Europe. In total in 19 European countries.

P/E: 8.8

Friday 26 June 2015

Dividend from BP: June 2015

BP, a UK oil giant

The second quarter of dividend payment from BP arrived on the account. Each quarter they try to push stocks on me as dividend payment, which I would have loved to take, but due to the fees from my broker I simply can not take that offer.

I currently have 354 shares in BP and they paid out in total 23.11 GBP which got converted to 32.31 € and from this was then taken 8.53 € in taxes. So the dividend payment got less but due to a stronger GBP I still got more euro out. Hurrah!

To find out more about BP please click on analysis of BP 2015.

To see my total dividend flow then please visit the Stock Dividends page that has now been updated. 

Thursday 25 June 2015

Analysis of Mattel

Mattel, an American toy producer

Company: Mattel

ISIN US5770811025 | WKN 851704  

Business: An American toy and family product producer. Their portfolio contains: Barbie®, the most popular fashion doll ever produced, Hot Wheels®, Monster High®, American Girl®, Thomas & Friends® and Fisher-Price® brands, including Little People® and Power Wheels®, as well as a wide array of entertainment-inspired toy lines.

Active: World wide with sales in 150 countries.

P/E: 18.6

Wednesday 24 June 2015

Hamburgers, are we still loving it?

I started writing this reflection when the CEO of McDonald's, Mr. Don Thompson, was removed as a CEO after hardly even three years on the job. I am not able to judge if he did a good or a bad job during his period as a CEO however it is a fact that the revenue and profit did not increase as the shareholders were hoping for. Was that due to him, due to that the previous CEO had not responded and started to change the steering or was it due to a general change in society with an interest in healthier food and being prepared to spend more money on food that looks, taste and maybe even claims to be organic. I do not know. But I find less than three years to be too short for even being able to start to change things and especially in a giant like McDonald's. This piece was supposed to be about impatience but it was pulled into another direction during the writing so the title was changed simply to Hamburgers, are we still loving it?

Tuesday 23 June 2015

Analysis of Fossil

Fossil, an American retailer with main focus on watches

Company: Fossil

ISIN US34988V1061 | WKN A1W0DE

Business: An American retailer. They have three legs to stand on: Watches (around 75% of their revenue), Leathers (around 13%) and finally Jewellery (around 9% of their revenue). The are selling besides from the Fossil brand also Skagen, Diesel, Karl Lagerfeld, Michael Kors, Burberry etc.

Active: World wide with current main focus in North America, Europe and Asia.

P/E: 10.1

Monday 22 June 2015

DBAG report Q2 2015

DBAG, Q2, 2015, front page

The half year report from DBAG is out and by the look of it they have put on their spending trousers and are walking down the street like a cowboy after a long, long ride being prepared to shoot anything jumping out. If 2015 is the year to put on the spending trousers that I can not say anything about besides from that every year there must be companies to buy.

Sunday 21 June 2015

Analysis of Electrica

Electrica, a Romanian electricity company

Company: Electrica

ISIN US83367Y2072 | WKN A116CN 

Business: A Romanian electricity company. They are working with three things: Electric Power Distribution (simply operating the electricity grid), Electric Power Supply (client supply as well as import/export and trading of electricity) and finally Services (maintenance etc).

Active: Romania

P/E: 14.3

Saturday 20 June 2015

Dividend from IBM: June 2015

IBM, an American technological service provider

Also IBM arrived in June with the Q2 dividend payment. Per share it was decided to pay out 1.3 USD which gives me for my 16 shares a total of 20.80 USD. This got converted into 18.37 € from which I had to pay 4.69 € in taxes and on my broker account 13.68 € arrived as cash to be freely distributed into other companies.... and it also will be. In USD the dividend increase was 18% from Q1 to Q2 but what I got out in euro was more or less the same as last quarter mainly due to taxes.

To know more about IBM please click on analysis of IBM 2015 and to check out my current dividend payment history then please visit the Stock Dividends page which has now been updated.

Friday 19 June 2015

Analysis of ARLP

ARLP, an American coal mining company

ISIN US01877R1086 | WKN 925301 

Business: An American mining company. They mine and sell coal mainly for the production of electricity. They compete with quality of the coal, the price of the coal and with the price of the transport.

Active: Eastern US in the states Illinois, Indiana, Kentucky, Maryland and West Virginia.

P/E: 5.5

Thursday 18 June 2015

Dividend from E.On: June 2015

E.On, a German electricity producer

Ouch, this became more complicated than what I thought it would have been. As I mentioned there was the possibility to take shares as dividend this year. I decided in the end to do this since one got a discount on the share price as well as that there were no fees involved. I am still ashamed of when I took 4 shares in BP and ended up paying more in fees than what I received! At least now I do not only take shares when it is offered and I always read the papers very, very carefully before making my decision.

So on my broker account I received share options. I decided to take as many shares as I was allowed and this got registered by splitting my share options in two parts. One that corresponded to six new shares and one corresponding to the rest. The "funny" thing is that on my broker account I have upon the pay day three payments to me and one taken payment. I guess that was needed for the booking or whatever but I will make it different.

So the paid dividend was 0.5 € per share which means that I should have received 120 € in dividend for my 240 shares.  From this I would have paid 31.64 € in taxes and received 88.36 € as cash on my account. I did however receive six shares and 8.87 € paid out as cash on my broker account. The YoC of E.On is at 3.2% which I consider to be bad for an over three year holding (and four dividend payments!)

To find out more about E.On then please visit analysis of E.On 2015.

To check out my current dividend payment history then please visit the Stock Dividends page which has now been updated.

Wednesday 17 June 2015

Analysis of Avtovaz

Avtovaz, a Russian automotive company

Company: Avtovaz

ISIN US05453R1014 | WKN 576848  

Business: A Russian automotive company. They are the biggest personal car producer in Russia with their own brand, Lada, as well as having production for, for instance, Renault and Nissan.

Active: In 46 countries with the biggest market being Russia.

P/E: -1.0

Tuesday 16 June 2015

Stock bought June 2015: Avtovaz

Avtovaz, a Russian automotive company

As I wrote in the comment to Garry in the article analysis of Picanol Group back in December 2013 the only CEO that I had discovered and wanted to keep an eye on was Bo Inge Andersson and there I write that if he ever goes to a publicly traded company then guess what? I must buy it!

Avtovaz is my second investment that is purely management based and I care very little of what the company have looked like in the past and what they look like right now because I trust these guys enough to be able to sort out any obstacle that are thrown at them.

Monday 15 June 2015

RWE report Q1 2015

RWE, report, Q1, 2015, front page

I have not owned RWE for very long and yet both a brick of an annual report have dropped on the ground, dividend has been paid out and the Q1 report for 2015 have arrived. So how wass then the start for RWE in 2015?

Sunday 14 June 2015

PIF C: June 2015

PIF C, DAX, versus, June, 2015

This is indeed good news! PIF C were flat with DAX which means that accounting for dividends then PIF C beat DAX during year 2. In the first year PIF C was a bit lower and accounting for dividends it was even flat versus DAX.

Saturday 13 June 2015

Analysis of Mota-Engil

Mota-Engil, a Portuguese construction company

Company: Mota-Engil (only in Portuguese, Quarter & Annual summaries can be found in English)

ISIN PTMEN0AE0005 | WKN 896770 

Business: A Portuguese construction company. They have three divisions: Engineering and Construction (railway, ports, dams, bridges, roads), Environment & Services (wast treatment) and finally Transport Concessions (management of railways and highways). 

Active: Europe, Africa and South America

P/E: 9.4

Friday 12 June 2015

PIF B: June 2015

PIF B, DAX, year 2, versus

The first year DAX beat PIF B with 5% (minus dividends) and this year with 2% (minus dividends) which means that they were pretty even during year two! I hope that year three will be the real winner because if not then I start to be more and more concerned regarding the general strategy of buying cheap companies and that is not something that I want to have growing in my mind.

Thursday 11 June 2015

Analysis of Norma Group 2015

Norma Group, a German joining producer

Company: Norma Group


Business: A German producer of high and low tech joining products. Nothing has changed since the last analysis so they are still producing: pipe clamps, cable ties, tool clips, hose connectors, band straps etc. For a more complete product list please look here.

Active: 100 countries, main focus Europe, the US and South East Asia.

P/E: 26.2

Wednesday 10 June 2015

PIF A: June 2015

2nd year, result, PIF A, DAX

The imaginary mechanical PIF A have now existed for two years. The first year it was beaten by DAX by around 7.6% which is a lot but one needs to bring into the equation that the DAX index re-invests dividends and I do not do that with my PIFs.

In the graph above we see that now in the second year DAX once again performed better and was up by 14.6% which the PIF A was only up 11.5%. The difference this time is 3.1% so PIF A is improving and accounting for dividends then they were almost flat.

Tuesday 9 June 2015

Two crooks got sacked

Sacked but not behind bars

Yesterday the celebration on the stock market was massive due to the news that the two crooks in Deutsche Bank have finally been sacked! This is indeed great news even though it would have been better to also place them behind bars. If the news correspond to a direct increase in share price of over 6% that I hold for unreasonable but the fact remains they are gone and this is indeed a cause for celebration.

Mr. Jain that previously lead the entire investment banking that have now forced to pay out billions and billions in Euros due to the crimes they have committed and Mr. Fitschen that are currently personally accused of conducting perjure (lying to the court) in the case when Deutsche Bank plundered the Kirsch-family media empire (they had to pay back almost 1 billion to the family). These were the guys assigned to change the culture in Deutsche Bank...

The new man to lead the DB will be John Cryan. I know very little of him but he also comes from investment banking so he comes from a tradition that has nothing to do with classical banking, which is a business concept good enough to make good money in, and I guess that he will keep pushing investment banking... good, bad? I do not know but I simply have a negative feeling toward investment banking with how the salaries and bonus systems are running there. A new way would need to be found for me to start to appreciate it.

Now we come to a secondary matter. What happened to the people that placed Mr. Fitschen and Mr. Jain as CEOs for Deutsche Bank? Can we please have them also sacked right now, at once? Everyone must take their responsibility and that also goes for the board that assigns the CEOs so please guys... Leave!

Monday 8 June 2015

Analysis of Shell 2015

Shell, a Dutch oil giant.

Company: Shell

ISIN GB00B03MM408 | WKN A0ER6S  

Business: A Dutch oil company. They are divided into three parts: Upstream (explore and extracts crude oil and gas), Downstream (refines, supplies and trades) and finally Projects & Technology (simply put research and innovation). 

Active: Over 70 countries world wide.

P/E: 14.4

Comment: Shell is annoying. They have A+B shares as well as ADR. Their shares are traded in EUR, GBX and USD but their annual reports are in USD. I ended up re-calculating from Shells market cap to an amount of B shares that this would represent and then I re-calculated the dividend based on the quantity in billions that they had paid out. I hope it is not completely wrong what I have done. Deciding upon which share to actually buy as an investor will be a research topic on its own...

Sunday 7 June 2015

Dividend from Intel: June 2015

Intel, an American chip producer

The second quarter dividend payment from Intel arrived on the account. Also this time they decided to pay out 0.24 USD per share which gave me once again 24 USD for my 100 shares. This got converted into 21.91 € so the euro has gotten slightly weaker during the quarter (I got 21.33 € in Q1, as can be seen here Dividend from Intel: March 2015). This time I did not only get away with the 15% US taxes but I also had to pay taxes in Germany which meant that I paid 5.60 € in taxes and received 16.31 € out as cash on my broker account.

To find out more about Intel then please click on analysis of Intel 2015.

To check out my current dividend payment history then please visit the Stock Dividends page which has now been updated.

Saturday 6 June 2015

Analysis of Elringklinger 2015

Elringklinger, a German automotive supplier

Company: Elringklinger

ISIN DE0007856023 | WKN 785602 

Business: A German supplier to the automotive industry. They are still divided into five segments: Original Equipment (manufacture and distribution of engines) , Aftermarket (spare parts for engines etc.), Engineered Plastics (high quality PTFE plastics for vehicles), Services (engine test benching for car producers as well as other suppliers) and finally Industrial Parks (leasing of land and buildings)  

Active: Europe, North America, Brasil, South Africa, India, China, Japan and Indonesia.

P/E: 14.9