I figured it out. There is a 1 cent/share ADR fee deducted from the dividend.
The Inverse VIX Short Term Futures index is on fire right now! When SVXY dropped into the upper 40s at the end of January, some people here were thought it was going much lower. Yet here we are approaching the mid-80s. SVXY may break through $100/share by the summer.
I do admit that the drop from mid-Oct 2014 through Jan 2015 caught me off guard and reminded me of just how volatile and unpredictable the underlying index is.
Sentiment: Strong Buy
I purchased my first shares of BTI through Fidelity in early March and automatically reinvested my first dividend. I was charged a small reinvestment fee. Is this an ADR fee?
I have read in several places that the amount of the dividend paid on 5/12/15 was supposed to be $3.105924/share. However, I checked my Fidelity statement and it looks like I actually received $3.06167/share. That isn't a huge difference, but it about 1.4% below what I thought it was going to be. Is this discrepancy due to strengthening of the US Dollar relative to the British pound?
I think that the company wants to increase its total dividend amount/share every calendar year. However, since the last increase was in the middle of 2014, even if they don't increase the dividend at all this year, the total dividend/share payment will still increase. For example, PM paid $3.88/share in 2014, so if they leave the dividend where it is, the payout in 2015 will be $4.00/share.
Assuming the Dollar stops strengthening or the rate at which the Dollar strengthens slows next year, I think we'll see an increase in 2016.
Fidelity and other brokerages will reinvest dividends for free back into more shares of the stock. However, if you wanted to add additional small investments over time, such as $250/month for a few years, you can do this through 3M's official direct investment/DRIP program without incurring any commissions or other fees. If you did this through Fidelity, you would be charged a commission each time you bought another $250/month or whatever the amount was.
The main drawback of 3M's official program is that you need to transfer at least one share in your name, not street name, to their transfer agent. There may be an inexpensive way to do this, which is why I asked the question.
No, I sold my LBJ last year and used the proceeds to buy BRZU, which has performed even worse.
Luckily I also have speculative positions in TQQQ, UPRO, and SVXY/XIV, which are each up. TQQQ, in particular, is up a lot and more than makes up for my paper losses on LBJ/BRZU.
LBJ has been an unmitigated POS over the past few years, and it may get worse. The big drag has been Brazil - the economy is bad, the currency is weak, and the entire political system seems corrupt.
However, I still believe that Latin America will revert to the mean at some point and LBJ will see a huge bounce. Of course, that might not happen for a couple more years, which is depressing...
3M has one of the best direct investment programs around. However, this plan is limited to existing shareholders. If you are an existing shareholder, you need to get your shares transferred over to the Shareowneronline, which handles the plan.
Has anyone here done this or know what the cheapest way would be to transfer shares? I know that some brokers charge $50 or more to transfer shares out.
PM does seem inexpensive to me. Obviously the Dollar strength is hurting its profits, but this seems like a temporary thing. When the Dollar stops strengthening or even weakens, shouldn't PM's earnings really take off?
Who cares and what does this have to do with Altria?
I think Megyn Kelly is correct in that most of us have received emails at one time or another that could be considered offensive regarding race, sex, ethnicity, etc. After 9/11 I remember receiving quite a few emails like this.
Everyday EWZ seems to go lower as the market sentiment for Brazil gets worse. :(
Are we even close to a bottom? It just seems like this has been going on for a long time while the U.S. markets have been moving steadily higher, which makes the under-performance seem even more painful.
The only possible silver lining in my opinion is that the awful performance of the equity markets may eventually force Brazilian lawmakers to engage in the structural reforms necessary to put Brazil's economy on firmer ground going forward...
TQQQ is by far my best speculative holding. I also own UPRO, SVXY and XIV. TQQQ and UPRO are my biggest holdings, followed by SVXY/XIV and BRZU. I periodically certain short bear leveraged ETFs when they are available, such as TZA, QID, and SPXU. I have never been able to short SQQQ, although that would likely be a fantastic short position to hold.
LBJ/BRZU has been terrible for me, but TQQQ has more than made up for it. I sold my LBJ in Sept/Oct of 2014 and put it into BRZU, which has performed even worse than LBJ. I never saw this type of abysmal performance coming from Latin America, but it will eventually turn around and it has been a learning experience for me and will ensure I keep realistic expectations about my other leveraged holdings.