FiveTwenty

April 3, 2023April 16, 2023

2023 Week 14: Bank OZK (NASDAQ: OZK)

Portfolio Update

The FiveTwenty portfolio received $104.08 in dividends in the past week. PEP and TROW paid their quarterly dividends during the week.

Past Week Dividend	$104.08
Current Quarter Dividend (Q1 2023)	$2,065.14
LifeTime Dividend	$10,173.58
Estimated Annual Dividend	$8,721.50

Dividend Scorecard

The capital allocation for the week of 04/02/2022 to 04/08/2022 will be used to add to our position in Bank OZK (NASDAQ: OZK).

OZK – Position Update

Since our last check-in on OZK in week 41 of 2021, the company reported FY 2021 earnings on 01/20/2023, and FY 2022 earnings on 01/19/2023. In addition, the share price decreased 22.4% from $44.09 to $34.20.

March 27, 2023April 16, 2023

2023 Week 13: Kellogg Co. (NYSE: K)

Portfolio Update

The FiveTwenty portfolio received $147.63 dividends in the past week. HD, LMT, and VFC paid their quarterly dividend during the week.

Past Week Dividend	$147.63
Current Quarter Dividend (Q1 2023)	$1,961.06
LifeTime Dividend	$10,069.50
Estimated Annual Dividend	$8,600.37

Dividend Scorecard

The capital allocation for the week of 03/26/2023 to 04/01/2023 will be used to add to our position in Kellogg Co. (NYSE: K).

K – Position Update

Since our last check-in on K in week 50 of 2022, the company reported Q4 and FY 2022 earnings on 02/09/2023. In addition, the share price decreased 9.5% from $72.34 to $65.47.

March 20, 2023June 10, 2023

2023 Week 12: Bristol-Myers Squibb (NYSE: BMY)

Portfolio Update

The FiveTwenty portfolio received $325.35 dividends in the past week. K, MMM, ORI, and PII paid their quarterly dividend during the week.

Past Week Dividend	$325.35
Current Quarter Dividend (Q1 2023)	$1,813.43
LifeTime Dividend	$9,921.87
Estimated Annual Dividend	$8,500.59

Dividend Scorecard

The capital allocation for the week of 03/19/2023 to 03/25/2023 will be used to add to our position in Bristol-Myers Squibb (NYSE: BMY).

BMY – Position Update

Since our last check-in on BMY in week 42 of 2021, the company reported FY 2021 earnings on and FY 2022 earnings on 02/02/2023. In addition the share price increased 14% from $58.36 to $66.53 during that period.

March 13, 2023March 11, 2023

2023 Week 11: Enbridge (NYSE: ENB)

Portfolio Update

The FiveTwenty portfolio received $281.44 in dividends in the past week. EMR, JNJ, SON, and WBA paid their quarterly dividend during the week.

Past Week Dividend	$281.44
Current Quarter Dividend (Q1 2023)	$1,488.08
LifeTime Dividend	$9,596.52
Estimated Annual Dividend	$8,212.68

Dividend Scorecard

The capital allocation for the week of 03/12/2023 to 03/18/2023 will be used to add to our position in Enbridge (NYSE: ENB).

ENB – Position Update

Since our last check-in on ENB in week 3 of 2023, the company reported Q4 2022 and FY 2022 earnings on 02/10/2023. Furthermore, the share price dropped 6.4% from C$55.92 to C$52.36 during that period.

March 6, 2023March 4, 2023

2023 Week 10: Home Depot (NYSE: HD)

Portfolio Update

The FiveTwenty portfolio received $459.77 in dividends in the past week. ADM, AFL, BKH, ENB, FTS, INTC, SJM, SWX paid their quarterly dividends during the week.

Past Week Dividend	$459.77
Current Quarter Dividend (Q1 2023)	$1,206.64
LifeTime Dividend	$9,315.08
Estimated Annual Dividend	$8,100.87

Dividend Scorecard

The capital allocation for the week of 03/05/2023 to 03/11/2023 will be used to add to our position in Home Depot (NYSE: HD).

Decrease in Estimated Annual Dividend

The decrease in the Estimated Annual Dividend from last week is due to the fact that we closed out our position in INTC. The proceeds from the sale will be redeployed as part of our weekly capital allocation in accordance with the mechanics outline in our strategy.

HD – Position Update

Since our last check-in on HD in week 45 of 2022, the company reported Q3 2022 earnings on 11/15/2022, and Q4 and FY 2022 earnings on 02/21/2023. The share price increased 5.1%from $284.03 to $298.45 during the period.

February 27, 2023February 26, 2023

2023 Week 9: PepsiCo Inc (NASDAQ: PEP)

Portfolio Update

The FiveTwenty portfolio received no dividends in the past week.

Past Week Dividend	$0
Current Quarter Dividend (Q1 2023)	$746.87
LifeTime Dividend	$8,855.31
Estimated Annual Dividend	$8,142.60

Dividend Scorecard

The capital allocation for the week of 02/26/2023 to 03/04/2023 will be used to add to our position in PepsiCo Inc. (NASDAQ: PEP)

Decrease in Estimated Annual Dividend

This week the FiveTwenty portfolio once again saw the Estimated Annual Dividend decrease week over week. (Previous decrease) The decline was caused by INTC reducing its quarterly payout by 66% to $0.125 per share.

What does this mean for our position in INTC? The dividend reduction brings INTC’s forward yield down to 1.99% based on share price of $25.14 at close on 02/24/2023. The new yield is considerably below our desired target and given that INTC is facing some tough quarters going forward we will close out our position in INTC and re-invest the capital over the following 2-3 weeks.

PEP – Position Update

Since our last check-in on PEP in week 8 of 2023, there have been no new developments. The share price declined slightly from $176.28 to $175.95.

February 20, 2023February 20, 2023

2023 Week 8: PepsiCo Inc (NASDAQ: PEP)

Portfolio Update

The FiveTwenty portfolio received $204.30 dividends in the past week. ABBV, APD, CAT, and PG paid their quarterly dividends during the week.

Past Week Dividend	$204.30
Current Quarter Dividend (Q1 2023)	$746.87
Estimated Annual Dividend	$8,235.54
LifeTime Dividend	$8,855.31

Dividend Scorecard

The capital allocation for the week of 02/19/2023 to 02/25/2023 will be used to establish a position in PepsiCo Inc. (NASDAQ: PEP)

PEP – Company Profile

PepsiCo Inc. manufactures, markets, distributes and sells beverages and convenience foods globally. The company operates through seven segment: Firto-Lay North America; Quaker Foods North America, PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Aisa; and Asia Pacific, Australia, and New Zealand and China Region. Among the companies best known brands are: Pepsi, Gatorade, SodaStream, Tostitos, Lay’s, Ruffles, and Quaker Oats cereals. Official Site | Wikipedia

February 13, 2023February 11, 2023

2023 Week 7: Johnson & Johnson (NYSE: JNJ)

Portfolio Update

The FiveTwenty portfolio received $16.38 in dividends in the past week. GD paid their quaterly dividend during the week.

Past Week Dividend	$16.38
Current Quarter Dividend (Q1 2023)	$542.57
LifeTime Dividend	$8,651.01
Estimated Annual Dividend	$8,184.81

Dividend Scorecard

The capital allocation for the week of 02/12/2023 to 02/18/2023 will be used to add to our position in Johnson & Johnson (NYSE: JNJ).

Decrease in Estimated Annual Dividend

For the second time since the inception of the FiveTwenty portfolio the Estimated Annual Dividend decreased from the previous week. (Other instance) The decline was brought about by VFC reducing their quarterly dividend payout by 41% to $0.30 per share.

What does this mean for our position in VFC? The dividend reduction brings VFC’s forward yield down to about 4.57% based on a share price of $26.27 at close on 2/10/2023. The payout ratio based on estimated earnings for the next 4 quarters would be around 57%. Because VFC did not eliminate its dividend payout completely and we don’t believe that we can find another investment matching the yield without taking on additional risk, we will continue to hold on to our shares in VFC. We will keep close eye on developments for VFC and look for an opportunity to adjust our exposure to the company.

JNJ – Position Update

Since our last check-in on JNJ in week 6 of 2023, there have been no significant new developments. The share price declined 1.5% from $164.61 to $162.15 during that period.

February 6, 2023February 4, 2023

2023 Week 6: Johnson & Johnson (NYSE: JNJ)

Portfolio Update

The FiveTwenty portfolio received $240.19 dividends in the past week. BMY, T, and VZ paid their quarterly dividend during the week.

Past Week Dividend	$240.19
Current Quarter Dividend (Q1 2023)	$526.19
LifeTime Dividend	$8,634.63
Estimated Annual Dividend	$8,246.09

Dividend Scorecard

The capital allocation for the week of 02/05/2022 to 02/11/2022 will be used to add to our position in Johnson & Johnson (NYSE: JNJ)

JNJ – Position Update

Since our last check-in on JNJ in week 33 of 2023, the company reported Q3 2022 earnings on 10/18/2022, and Q4 and FY 2022 earnings on 01/24/2023. Additionally, the share price decreased 0.4% from $165.30 to $164.61 during the period.

January 30, 2023January 29, 2023

2023 Week 5: Sonoco Products Company (NYSE: SON)

Portfolio Update

The FiveTwenty portfolio received $34.34 in dividends in the past week. OZK paid their quarterly dividend during the week.

Past Week Dividend	$34.34
Current Quarter Dividend (Q1 2023)	$286.00
LifeTime Dividend	$8,394.44
Estimated Annual Dividend	$8,177.87

Dividend Scorecard

The capital allocation for the week of 01/29/2023 to 02/04/2023 will be used to add to our position in Sonoco Products Company (NYSE: SON).

SON – Position Update

Since our last check-in on SON in week 1 of 2023, there have not been any significant developments for the company. The share price decreased 0.7% from $60.71 to $60.26 during the period.

estimmated annual dividend	$12,758.16
lifetime dividend	$29,849.48

total value (delta)	($60,153.91)
lifetime dividend (delta)	$9,530.48
Q4 2024 dividend (delta)	($259.1)