April update

A smooth month, where the first big dividend boats land on shore

Bought:

$VLK (+1.49%)

$KPN (-1.22%)

$VPK (-1.26%)

$SHEL (+0.16%)

$WINC (-0.28%)

$JEPQ (+0.86%)

$JEGP (-0.33%)

Sold:

$CVC (+0.85%)

$FUR (-0.57%)

Dividends received this month: €99,69

Dividends per month average: €55,83

For those interested, check out my new passive income monitor app:

https://play.google.com/store/apps/details?id=com.swart.passiveinkomen&hl=nl

After having invested before in $1COV (-0.25%) with the aim to be acquired by Adnoc/XRG and another investment in $ILTY Illimity Bank in Italy giving access to $IF (+1.08%) Banca IFIS with a 10% discount.

I'm now thinking to invest in further banking consolidation. Since there seems to be a wave of banking consolidations coming up both cross boarder and within individual European countries.

Italy shows:

$UCG (+0.84%) Unicredit stakebuilding in both $ALPHA (+2.11%) Alphabank & $CBK (+0.38%) Commerzbank and a failled attempt to acquire $BAMI (+0.28%) Banco BPM. We saw $BMPS (+2.02%) Monte dei Pachi acquire $MB (+0.55%) Mediobanca. $BPE (-1.1%) Bper Banca merge with $BPSO and rumored to be on the wishlist of Unicredit.

Denmark is consolidating but could be still more ongoing:

A recent merger of $SYDB (-1.52%) Sydbank, Arbejdernes Landsbank & $VJBA Vestjysk Bank.

In Spain

We've seen a major but failed attempt to forget about the Spanish attempt of $BBVA (+0.56%) Banco Bilbao of $SAB (+0.78%) Banco Sabadell.

The Netherlands:

$ING (+0.75%) ING taking a substantial stake in $VLK (+1.49%) Van Lanschot Kempen.

$ABN (+1%) Doing several take overs in Germany and buying the trading app Bux and rumored to be bought themselves.

When thinking this through I see a potential for take over but, if it won't happen there is still good dividends to be earned. Therefore there is less of a need of a quick turn around.

I'm now looking for a "smaller" bank that traded and a likely take over candidate.

Where would you invest?

$BPE (-1.1%) - Bper Banca - Italy

$BAMI (+0.28%) - Banca BPM - Italy

$ABN (+1%) - ABN Amro Bank - Netherlands

$ALPHA (+2.11%) - Alpha Bank - Greece

$JYSK (+0.08%) - Jyske Bank - Denmark

$ALR (-0.62%) - Ailor Bank - Poland

Any other alternatives, or opinions about this idea, I'm happy to read!

I have been building my portfolio this year and it is doing quite well. Currently my focus is diversifying my portfolio. I have some nice performers in my portfolio like $BESI (-1.88%) , $ABN (+1%) , $EVO (+0.52%) , $VLK (+1.49%) . A few others are still underperforming for now but are known stable companies like $ALV (-0.74%) and $TTE (-0.27%) . My focus now is also a bit towards US stocks due to dollar diversification since I am mainly invested in Europe, Switserland and Scandinavia. I am always looking for companies with strong balance sheets, low debt ratio's compared to their peers, growth, dividend and maybe undervalued. One great example is $EVO (+0.52%) which I expect to launch🚀 in the coming year.

I'm looking at three dividend stocks right now: $PFE (+0%), $AEP (-0.53%) and $ENEL (+0.39%). They each have different profiles, and I'm trying to figure out which could be the most attractive at this point.

$PFE (+0%) seems undervalued. The stock is still well below its pre-COVID levels, the balance sheet is strong, and the dividend is over 5 percent. The real question is whether the company can return to solid growth with its pipeline.

$AEP (-0.53%) is a US utility with stable cash flow, a solid dividend track record, and relatively low debt. It doesn’t move fast, but it offers a good level of reliability and income, especially if rates come down.

$ENEL (+0.39%) is more of a question mark. The dividend is growing by nearly 9 percent a year and paid in multiple installments, which I like. But the stock is already up over 20 percent this year. Debt is quite high, and revenue growth is limited. I like the exposure to renewables, but I'm not sure if this is the right entry point.

• What do you think of these names?
• Any clear favourites? Or red flags?

Also curious: what are your expectations for the USD-EUR exchange rate in the second half of the year? I'm considering the FX angle too, since two of these names are US-listed.

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