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2Q 2017 passive income from non-REITs.

Sunday, July 2, 2017

After my blog on 2Q 2017 passive income from S-REITs, of course, it has to be a blog on 2Q 2017 passive income from non-REITs.

Well, 2Q 2017 was also pretty quiet for me in the non-REIT space as I also pretty much kept the status quo here.


Total income received from non-REITs in 2Q 2017 was:

$52,045.09


If we were to include dividends from 1Q 2017 which saw a total collection of $13,543.31, total dividend received in 1H 2017 is 

$65,588.40


The portfolio saw a rather significant reduction in contribution by SPH since I trimmed that investment by 50%.

However, contributions from the enlarged investment in QAF as well as dividends received from a pretty significant investment in Centurion more than made up for this.

I must also mention that the quarter's dividend income received a big boost from Hock Lian Seng which declared a generous special dividend.

This is unlikely to be repeated anytime soon. So, everything being equal, I would expect lower dividend income in 2018.

Of course, everything is probably not going to remain equal.

Last quarter, Croesus Retail Trust was the biggest non-REIT income contributor. Accordia Golf Trust is the biggest contributor this quarter.

With Croesus Retail Trust being one of my biggest investments and likely to go the same way as Saizen REIT, future passive income from non-REITs would naturally take another hit.

The upside is that I will be receiving many years of "income distributions" in advance and the cash position in my portfolio will see a big increase.

I would probably have to sit on more cash for the foreseeable future.


"It takes character to sit with all that cash and to do nothing."

- Charlie Munger

My seat is likely to be quite cushy.

Related post:
1Q 2017 passive income from non-REITs.

9 comments:

AK71 said...

Reader:
I understand CRT is one of your key holdings.For me I will not sell out to Blackstone for the simple reason that there is not another counter that can offer this sort of yield. It is quite a well managed trust.Blackstone is likely to relist it later in Japan at a much higher price.The good thing about this trust is there is no single major holder and it is quite fragmented.It is quite possible the offer can be voted out.AK, you have quite a wide following so would it be possible to highlight to your audience so together we can do something.

AK:
I am no king maker.
I doubt I can affect the outcome. :)
Will just go with the flow. ;)

arithmos said...

I agree with the reader and that is my analysis.

Your vote still matters.

AK71 said...

Hi arithmos,

Yes, I agree with you that every vote counts. :)

Lee Kim Poh said...

I am also one who oppose Blackstone's offer. Will definitely vote against. They are taking 4 months of our dividend (July to October 17 no dividend) to sweeten the offer. Effectively, the offer is not attractive at all. It will take us just 2 years of dividend to get the same gain. So, what is the point of accepting?

We have not hear your view on this offer. Care to talk to yourself on it?

Thank you very much.

K P Lee

P.S. My family bought Croesus several months after it's IPO. To date, we collectively got about 200k of dividends from it already. Why should we go for this mediocre offer?

AK71 said...

Hi Lee,

I will be sharing my thoughts in my next blog. :)

Bruce said...
This comment has been removed by the author.
AK71 said...

Hi Bruce,

Nope. It is much smaller than the lower end of the range you have suggested. ;)

Bruce said...
This comment has been removed by the author.
AK71 said...

Hi Bruce,

My portfolio is not as big as you think. Really. :)

And you have to remember that Croesus Retail Trust and Accordia Golf Trust are under non-REITs as they are business trusts. Their distribution yields are pretty high. ;)

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