My February dividend totals are in! Actually, they were in back on February 16 when I received my final dividend of the month. As expected, February was a rather poor month for dividend income but the large number of pay raises I received more than made up for it.
Dividend Income
In February I received a total of $179.30 in my two portfolios: $63.16 in my Empire portfolio and $116.14 in my Retirement portfolio.
These numbers look pretty low compared to my historical data and there are two reasons for that. KMI massively cut their dividend recently and this is the first time that cut is reflected in my payments. The second reason simply stems from the fact that most of my holdings will pay out in March.
These values represent a 2.9% increase for my Empire portfolio (all from DRIP activities) and a 19% decrease for my Retirement portfolio (KMI cut) compared to my November income. Here are the details:
Here is a breakdown of the companies that paid me in February:
I received just 2 payments in the Empire portfolio and 5 payments in my Retirement portfolio. The DRIPs that I have set up in my Empire account increased my forward annual income by $2.95.
Pay raises:
I received a whopping 9 dividend increases in February. Really it should be 10 but PEP hasn’t officially declared the raise as of this writing. All of these raises will add $39.99 to my annual income and add some weight to my snowball.
These pay raises and DRIPs have added a significant amount to my forward annual income:
Progress Against Goals:
My dividend goals for 2016 are to receive at least $1000 worth of dividends in my Empire portfolio and $3000 in my Retirement portfolio. Here is my progress so far:
While it looks like I’m not doing so well I’m confident that I will hit these goals. One of my biggest months (March) is coming up and that should put me right back on track. Add on all future DRIPs, raises and purchases and I should do just fine.
I have added my dividend income to my Historical Data page where I have organized all of my monthly incomes, updates and screens (with links).
Portfolio Updates
Though I didn’t get a chance to write up the purchase I did manage to add a single company to my Retirement portfolio towards the end of January: Bank of America (BAC). I purchased 200 shares on January 29 at an average price of $13.97.
While I do expect BAC to begin increasing their dividends regularly at some point this really isn’t a dividend growth play. I think BAC is extremely undervalued and I’m looking for some serious increases in share price. While I’m waiting for this to happen I’ll collect a decent 1.5% dividend.
Thanks for reading! I hope everyone had a great February. Please let me know how you did in the comments section below.
Disclosure: Long all stocks mentioned in this article.
Hi Ken,
Even with Feb being a slow month, 179 bucks is nothing to sneeze at! And congrats on the $39 raise. Well done!
I really like your forward income progress chart! Thats a great way of showing the effects of dividend raises.
Keep up the great work!
Thanks Blake! It’s pretty exciting to finally be at the stage where the snowball is gaining speed. These raises will just keep on increasing as my portfolio grows and I continue to DRIP my dividends.
Take care,
Ken
DE
Great dividend income, and great dividend raises you’ve got there.
Keep the snowball rolling.
Sharon – Divorcedff
Thank you Sharon! Looks like you are doing quite well too!
Ken
All the charts are pointing toward the sun so your doing something right :-). Seriously though, nice work. Keep pushing on.
Thank you IH! All charts are pointing towards the sun except for the stock charts lol. Good thing I’m a long-term investor
.
Ken
Hi. How do you calculate the Forward Income Progress?
Hi David
Each month I sum up the expected dividends I will receive for each company over the next 12 months – so basically my “annual salary.” This is based on the most recent dividend declaration of each company. So basically the formula is sum((Stock A shares * Stock A div amount * Stock A payments per year) + (Stock B shares * Stock B div amount * Stock B payments per year) + ….). This serves as a good measure of progress because it factors in new purchases, DRIPs and dividend increases which should all drive this metric higher. Thanks for stopping by!
Ken
That makes sense. When you are planning this, are you looking up all these figures by hand? Because as your portfolio grows, won’t it be hard to figure out if there were any increases? I’m currently using CapitolOne Investing (used to be share builder) and just to start this chart was time intensive – Click name of stock, click more data, scroll to dividend information, etc.
It’s true – keeping track of everything can be daunting. I do a couple of things that help streamline the process.
First, I keep a spreadsheet (similar to the ones I have published on this site for my portfolios) that tracks all of my holdings, div/share, annual income, yield, etc. That way I at least have everything in one place. Any time I see a company announce an increase I just plug it into this spreadsheet and my forward income is updated.
Second, most companies increase their dividends like clockwork – the same month every year. Any time I purchase a new stock I’ll check out the dividend history to see when I can expect increases. I have a chart indicating when the expected increase will occur for all of my stocks. A good place to go for this is Nasdaq.com. Search for your stock at the top of the page. A column of links will appear on the left and you can find “Dividend History” towards the bottom.
Finally, the most useful tool that I use is SeekingAlpha.com. I created a portfolio on their site for free with all of my stocks. I checked off the box to receive email alerts, so any time there is an article or breaking news involving stocks in my portfolio I will get an email. This ends up filling up your inbox with a lot of emails you don’t necessarily want to read, but it’s easy to weed out the unimportant ones. For example, any time there is a dividend declaration, the email will be from “SA Breaking News Team” and the subject will be “Ticker: Company Name Declared xxx Dividend.” You can then simply click on the link to see if it was an increase or in-line with the previous.
I hope this helps! If you come up with any other ideas please let me know.
Ken
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