Since this Monday, on my portfolio at E*Trade account, an new line has been added. It is described as 8 digits and one letter and its value is as of today $534. I originally thought it was a bug of E*Trade and I decided let E*Trade fix it later.
As I became curious about it, I clicked the link of that line and found that it was South32 LTD American Depository Shares. Ouch, I smelled something. Then I went through the rest of my portfolio, I came across one material drop of value, which is BHP Billiton(BBL). It used be plus, but now minus $424. I opened a new tab and type South32 and hit google search. Yes I got this press release of BBL. Unlike other fellow dividend growth investors, I was lazy and overlooked BBL’s pending demerger when I made an investment decision. The star dividend growth investor Dividend Mantra, of course ,covered this thing in his blog. According to his post, ” BHP Billiton has named the new company that will be formed by way of a demerger involving the Aluminum, Magnesium, and Nickel segment, as well as certain coal and petroleum assets”. Hope this will work out well for investors.
South32, welcome to my house.