Tuesday, December 13, 2016
This makes a huge dent in my dividend income, as ARLP paid well. I'm selling mainly because I have additional overhead to complete forms for ARLP's special tax structure. This wipes out most of my income. Second, they qualified for a sale after cutting their dividend. I want stocks that can grow their div over time, even if slowly. ARLP served me well -- while I took a loss on the stock, they paid me around $920 in dividends over the years. I knew they were a high paying div stock and I knew the risks involved. Again, this income helped me get my dividend machine going, and allowed me to get into other positions.
I waited until after their last div payout of the year, and got lucky with a coal industry bump after the election. I'm happy to get this off the books in 2016.