I initiated a small position in CISCO during the Pandemic. In other words, I picked the wrong video-conferencing stock as Zoom did much better. Nevertheless the profit for CISCO was decent and including dividends nett of withholding tax, the total gain since 2020 was about 40%. I'm doing some portfolio cleaning and it just doesn't make sense to hold US dividend stocks for the long term because of the withholding, so I sold them tonight and bought Vanguard Dividend ETF (VHYD) instead.
The next US dividend stock to unload will be McDonalds. I'm sitting on decent capital gain but withholding tax on dividends means I should exit all US dividends stocks as quickly as possible.
Posting this as a reminder to myself!
Recording my CISCO purchase: Previous blogpost
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