Latest Stock Buy: 100 shares of XIN at $2.5 (Assigned)

Updated: 29 July, 2020 seen 40

On June 17, 2020, I bought (got assigned) 100 shares of Xinyuan Real Estate (XIN ) at $2.50 per share. With its quarterly dividend payout of 0.0225 dollars per share, this latest buy has a dividend yield of 3.6% and will pay us $2.25 (before tax) every quarter.

Not the biggest addition to the dividend income portfolio, but every bit count. Also, due to the downturn in the market, XIN has heavily trimmed its dividend by more than 75%. If the pharma is doing its job and we are getting a vaccine, I see no reason why XIN wouldn't get back to the previous levels of dividends.

XIN has been in our portfolio since October 2018, since then I have been selling covered calls and naked puts on it. That's actually how I got assigned it now, I was selling a naked put on XIN a while ago. And on June 17, I got assigned (two days before the end of contract ) 

Naked Put on XIN - Potential income return 5.04% in 22 days

By now XIN stock takes 3.28% from our US stock portfolio, and also is one of the biggest dividend payers in the portfolio by now. 

Our average cost per share so far for acquiring XIN is $5.59/per share and that includes premiums I have received in the past

For the rest of the year, we are looking to take $1.91 (after tax) from this buy, which is about 0.05% from our $3,600 goal for 2020

2019 in Review and Financial Goals for 2020. 

In total XIN now contributes about $22.95 (after tax) yearly to the dividend income portfolio.

As dividend is trimmed a lot, we are looking to generate additional income by selling covered calls and maybe some additional naked put