On March 31, 2020, I bought 260 shares of Washington Prime Group (WPG ) at $0.861 per share. I'm looking either this stock will go bust or will rebound like a bandit.

I first bought this stock back in 2018 paying $6.26 per share, I have been then selling occasionally puts on it (strike price $5) and have acquired some more ever since. 

Starting mid-2019 I have been looking on WPG with suspicions, and thinking to find a good exit point, unfortunately, it has never bounced back. And in March 2020, during Covid19 lockdown, it collapsed down under $1 dollar per share

WPG share price Apirl 1, 2020

WPG share price April 1, 2020

Prior to this new purchase, we had 240 shares of WPG and my cost basis was $5.95 per share. 

By adding 260 (more than doubling) shares of WPG I managed to decrease my cost per share down to $2.92.

With dividend slashed (twice( to 0.0625 per share this latest buy has a dividend yield of 29% and will pay us $16.25 (before tax) every quarter. 

For the rest of the year, we are looking to take $41.42 (after tax) from this buy, which is about 1.15% from our $3,600 goal for 2020

2019 in Review and Financial Goals for 2020. 

In total WPG now contributes about $106.25 (after tax) yearly to our dividend income portfolio.

This latest buy is a gamble, but as it didn't require a lot of money to invest. This is the gamble I'm ready to take. As they are saying in the Bitcoin world - to the moon now

Get the latest dividend income article in your inbox

Join more than 260 subscribers and get notified once the newest dividend income article is is out.
* indicates required

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit Privacy policy