I wasn’t expecting too much from Yara but the results they reported were still a slight disappointment. Dividend cut was also proposed which doesn’t fit well for a income oriented dividend growth portfolio. Therefore I decided to sell all my 80 shares for 335,70 NOK per share. I redeployed the money right away and bought 100 Telenor shares for 173,10 NOK per share and 3000 NEL Hydrogen shares for 2,858 NOK. This in part implements the short term strategy in which I plan to focus on digital services (Telenor) and sustainable energy (NEL) among others. This will also protect the dividend income stream received in NOK as lower yield of Yara was replaced with higher yield of Telenor. NEL doesn’t pay a dividend so it’s a long term value play with some M&A potential.
See: https://www.nasdaq.com/article/norways-yara-q4-lags-forecast-proposes-dividend-cut-20180208-00137