Dividend-income Investing

The overdue dividend income update

After a long hiatus, I’m back.

There’s a whole ton that’s happened since my last dividend update in October, but I’ll get into it later. Instead, this post will update my dividend income in October, November, December, January, February, and March.

Let’s get to it.

October Dividend Income

In October we had our best month of 2017, coming in at $99.36 in dividend income and $418.77 for the year. That put us over our goal of $400 in dividend income for 2017.

Unfortunately, I use an updating total to track our forward dividend income, so I don’t know where that put us, but it did put us over our 2017 goal for $500.

Considering those are the only 2 of our 2017 goals we hit, it was our best month.

November Dividend Income

In November 2017 our monthly dividend income was $5.46 and we hit $424.23 for the year. We had one measly company pay us a dividend, plus a small dividend from our brokerage account.

December Dividend Income

In December 2017 our monthly dividend income was $35.21 and we hit our final total of $459.44 for the year.

I was pretty happy with that because it was more than double what we got in December of 2016, so there’s progress right there. We smashed right through our goal of $400 dollars for the year, with a year over year increase of 63.50% and an average monthly dividend income of $38.29.

I also opened a position in OXLC by buying 25 shares, which increased our dividend income by $40 a year. We hadn’t been contributing our normal $125 a month to our brokerage account because money has been a little tighter with me not having a job, so I ended up only investing about $260.

2018 Dividend Income goals

  • $100 in dividends in a month
  • $600 in dividends this year
  • Forward dividend income of $675

For 2018 our goals are a little less ambitious than I would like them to be, but given that our income has been more variable, I decided to be somewhat more conservative.

I’ll be starting grad school in the fall and I’ll need to take out student loans. I’m hoping that we’ll be able to make it through the first semester without a loan, but most of our income will go towards tuition either way. If my income increases or it seems feasible I’ll adjust our goals upwards.

January Dividend Income

In January this year our monthly dividend income was $94.22, which was, unsurprisingly, our year to date total as well.

Unfortunately, GE cut their dividend in half, so we had a drop from October and we’ve been getting hammered thanks to a perpetually dropping share price. In light of everything that’s been going on with GE, I’m pretty annoyed with Jeff Immelt and GE’s management team.

I’ve joined a class action lawsuit against them, so we’ll see how that goes. That said, I haven’t sold our position because I don’t want to turn a paper loss into a realized loss. I may jump on an opportunity if they break up and offer a stock conversion like they did when they spun off Synchrony Financial (which I’m kicking myself for not taking advantage of).

February Dividend Income

In February our dividend income was $9.12, thanks in part to OXLC announcing they were moving from a quarterly distribution to a monthly distribution. That put us at $103.34 for the year.

We hit $100 a whole month earlier than last year! #gains

March Dividend Income

In March our dividend income was $28.22 and $131.56 for the year so far. That put our forward dividend income at $607.65, which means we have a full $67.35 to go to meet our yearly goal. I think that should be attainable, but I also don’t want to bump up our goal without knowing exactly how the summer will go.

I also purchased an additional 36 shares in OXLC and opened a position in GLAD by buying 13 shares using money from our tax return, which increased our annual income from OXLC by $58.32 and GLAD by $10.92.

Thanks to those purchases we’ve now reached the point where we’ll receive $15 a month or more in dividends every month! #gains

We were going to use more of our tax return to increase our portfolio and open a couple more positions, but we had to adjust because of grad school and my employment status. Instead of the $1,500-$2,500 we were originally planning, I put in just shy of $500. The idea was to make up for the remainder of the $750 I would have spent in December if we were keeping our normal contribution schedule.

That’s All For Now

Now that I’ve caught up, I’ve set a goal to make sure I keep on top of updating out dividend income. I’ll be graduating with my undergrad this month and I anticipate I’ll have more time without school assignments hanging over my head.

I’ve got plenty I want to do to improve the site, and I’m excited to keep sharing my journey.

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