Two stocks reached new 52-week High prices and Pedro Jiminez (played by Trini Lopez in the movie and Boston Beer Company in my portfolio) has broken his neck during the jump.
Hershey Company (HSY) had a new intra-day, 52-week High price of $59.85 and closed at $59.42. I’m less than $.30 away from my December dividends matching the closing price. Thank goodness I received that full share yesterday. I’m tracking a new price level; this one rounding my fractional shares to a full share. If Hershey doesn’t squirt higher than $63.75 by December, my total position will be a round number and another full dividend.
Bristol-Myers Squibb (BMY) reached a new 52-week High with the closing price of $30.53. I’m essentially 10 shares above where I need to be to receive a full share in reinvestment, so I have a good cushion until I’m paid in November.
Due to some personal expenses, I decided to sell my stake in Boston Beer Company (SAM). I won’t take the full amount in a disbursement and will have some free cash in my portfolio. After I make some moves at the end of October, I hope I can purchase a smaller stake in this stock again.
One item I didn’t discuss in my previous post about stocks was the ex-dividend date. For the uninitiated, the ex-dividend date is the date you need to purchase a stock by in order to be eligible for the dividend. If you sell the stock after this date, you will still receive the dividend. This is how I received one or two shares of a couple stocks after the huge retooling last month.
My plan is to sell 50 shares of A. Schulman, Inc. (SHLM) after its ex-dividend date and purchase 25 shares of Paychex (PAYX) before its ex-dividend date. I have about a week between the two dates. This will give me more cushion as the closing price approaches the dividend payout and my total dividend income remains the same. There should be some funds leftover that I can add to what’s left of the SAM selloff to repurchase some shares.
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