Recent Stock Sale November 2019

This month brought two recent sells for me.

I have sold in my taxable account 183 shares of Amcor plc (AMCR). AMCR came into my portfolio after it merged with packaging dividend stalwart Bemis (BMS). While AMCR does pay a generous dividend, it only gets distributed twice a year. I prefer my dividends quarterly or monthly. AMCR is also based in Switzerland which means that all dividends are subject to withholding taxes at 35%. That just sucks. I would like to own a packaging company in my portfolio once again. I know many like WestRock Company (WRK) or International Paper Company (IP) and would appreciate any insight one way or the other.

I also sold in my taxable account 3.0055 shares of Wabtec Corporation (WAB). WAB entered my portfolio as a result of the GE Transportation business merging into Wabtec. Again, nothing inherently wrong with WAB it’s just not a business I ever wanted to hold on its own.

It’s funny how investing in quality stocks for the long term can yield many additions to your portfolio. Some of those spin-offs or mergers actually work out well over time while others are simply duds that suck your money into a vortex of weak share price and or little or no yield.

Disclosure: Long GE.

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