Portfolio

April '26 dividend portfolio update: 2 possible takeovers plus reassuring trading updates

News from my UK dividend share portfolio in April included one upgrade, one downgrade and two possible takeover offers.

April was a busy period for trading updates from my portfolio. At the end of the month, I was left with the following scores on the doors:

Four of my companies issued trading updates in line with expectations;
One FTSE 250 company now expects to report full-year profits "comfortably ahead" of previous expectations;
Another FTSE 250 company is now guiding for full-year profits "towards the lower end of consensus expectations";
Two of my companies issued full-year or half-year results (see below);
Two of my larger stocks received possible takeover offers - both are holdings I've topped up in the last few months (here and here). The offers were rejected but both companies remain in play under takeover rules, with neither potential bidder having yet ruled themselves out.

The takeover candidates are both industrial groups that were already in the process of slimming down to focus on their most profitable, fastest-growing operations. I'm happy to continue holding them if no firm bids emerge; they are among my larger, higher conviction positions.

Quick reminder: my model dividend portfolio broadly mirrors the shares in my main personal portfolio, although position sizing and cost will vary for practical reasons.

Please note that my comments reflect my personal views and are not investment advice or recommendations. Please do your own research and seek professional advice if needed. Full disclaimer here.

For an explanation of my Quality Dividend score, see here.

In this month's report

My monthly reports only cover results, not (usually) trading updates.

This means there are just two companies on the menu this month: both are AIM-listed UK businesses with family ownership and 6%+ dividend yields.

Here is a summary of each section – please scroll down for the full report, or click on the links to go directly to a specific section:

Q1 2026 dividend portfolio review: a poor start

My portfolio underperformed the FTSE 100 during the first quarter but dividend income remains stable and the portfolio's quality and valuation metrics remain good, in my view.

Mar '26 dividend portfolio update: 3 top ups, 5 results & 34% of my portfolio

5 of my dividend portfolio stocks reported in March, including two with 9%+ yields and two internationally-respected market leaders. To reflect my view on valuation and outlook, I've decided to top up three of these positions.

Feb '26 dividend portfolio update: dependable quality + turnaround progress

Four of my model portfolio stocks reported in February, including two high-quality consumer firms, a financial with an 8% dividend yield and an interesting AIM turnaround.

Jan '26 dividend portfolio update: a promising start to 2026

In the absence of any results statements for January, I review trading updates from seven of my income stocks, including upgrades from two FTSE 250 firms and two small caps with 8% dividend yields.

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