Today’s dividends: Wingstop and MMP

I remember the day I bought my first share of Wingstop like it was yesterday. It wasn’t a spectacularly memorable day or anything … basically, it pretty much was yesterday.

It all started on the last day of January, so about two weeks ago … not quite yesterday, but close. I saw an article talking about a special dividend the company was set to pay out and was immediately interested. I wasn’t all that familiar with Wingstop as a company up to that point, but I was certainly familiar with its wings, having had them a time or two.

After skimming the article, I took a peek at the stock and, well, picked up a share later that afternoon … just in time to get my hands on that special dividend.

Wingstop

Wingstop (WING) did good on its promise, passing along a pretty solid special dividend of $3.17 a share. It wasn’t quite the $7 special dividend Costco dished out last year, but pretty damn nice nonetheless.

It was obviously my first dividend from the company, but it won’t be the last. Wingstop just started paying a regular dividend a few quarters ago, so it’s nothing special at the moment. By nothing special I mean a $0.28 annualized payment representing a yield of 0.62%. My hope, though, is that the dividend grows right along with the company, which is expanding its franchise base like crazy.

Magellan Midstream Partners

Magellan Midstream Partners (MMP) sent a $0.92 dividend my way. I only own one share, but that share has been earning be a bigger dividend payment every quarter. My first was for $0.87, the next was for $0.89 and the one prior to today’s was for $0.91. Four quarters … four raises.

In case you were wondering, MMP is a limited partnership that engages in the transportation, storage and distribution of petroleum products. That said, as you can probably guess, the stock has slumped a bit here lately. I bought my share for $76.21 last April and, as of this post, that share is only worth about $68.

It’s one of several struggling stocks (the others are REITs) in my portfolio. To be honest, I’m thinking about selling them all, too. The thing about limited partnerships and REITs is, while the dividends are often regular and juicy, they’re taxed differently than qualified dividends. It’s probably not a huge deal as those types of companies don’t make up much of my portfolio at all, but we shall see. I might have to do some reorganizing.

The week so far

I bought a share of AT&T (T) yesterday, creating $2 of forward annual dividend income, and earned a combined  $1.57 in dividends from Air Products & Chemicals and Texas Instruments on Monday.

Today’s dividends bumped my February total to $28.97 and my 2018 mark to $64.71.

March on!

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