Time to clear the table
Sysco's dividend yield drops, leading Jim to look elsewhere as the economic recovery continues.
The stock made a new 52-week high Tuesday. That brings the dividend yield down to 3.38%.
That was attractive when the economic recovery still seemed iffy and I was willing to trade some yield for safety. But now that the recovery is more certain -- if not the speed or momentum of the recovery (for more on those issues, see this recent post) -- I'm willing to stretch a little more for yield. To do that, I need to clear a slot in this 10-stock portfolio, and that means selling Sysco.
I'm looking at a 5.27% gain in the stock's price since I added it to this portfolio on Dec. 8.
On April 23, I'll also be collecting the 25 cents-a-share quarterly dividend that the company recently declared for shareholders of record as of April 1.
At the time of this writing, Jim Jubak didn't own shares of any stock mentioned in this post.
Copyright © 2014 Microsoft. All rights reserved.
Serious issues like drought and the deterioration of the developed world spell opportunity for this industry leader.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.