Cutting it close

Monday, April 3, 2017

I think I did it … barely.

Let me start by saying I’m not going to be crushed if I have a month or two with combined dividend payments less than the previous one, but my goal is to increase dividend income each and every month, not the other way around. That said, I was worried a slight slide might be in the cards after I went a little crazy with purchases the last few months. I increased my dividend income from February ($10.86) to March ($22.90) by 111% and, well, didn’t think I was going to be able to increase it at all from March to April.

Increasing passive income from dividends is insanely easy. All you have to do is buy dividend-paying stocks. The problem is, though, you have to have money to buy said stocks. I know, crazy right? Anyway, I bought a ton that pay in March and, after evaluating my portfolio a little bit, realized I wasn’t quite as stacked in April.

Must have been that big tax refund I got. Too bad there’s not much left.

After buying a handful of DOW and TD shares last week, I bought three shares of CSCO Monday that will get me over the hump … I think. I used $100 I probably should’ve left in my bank account, but it’s for a good cause, right? Right. I think we all agree financial independence is a good cause.

I now have 13 shares of CSCO worth $437.32 (average cost of $32.27, so I’m up about $18 bucks all told in capital gains). It makes up 4.55% of my portfolio and adds $13.52 to my expected annual dividend payments. Since it goes ex-dividend tomorrow, looks like I bought the three shares just in time to get the April payment. Combined with the 10 shares I already owned, I should get a $3.77 dividend payment from CSCO this month. If I do, and my math with all the other companies is correct, I’ll be getting $22.92 in total dividend payments this month, eclipsing last month’s total by two cents or 0.087%.

Not quite 111%, but it’s an increase. Now, the goal will be finding a way to boost my May income a bit.

Dividends

In addition to the purchase I made, I was also paid dividends from five different companies Monday – $0.44 from BIP, $0.37 from KO, $0.51 from EMN, $0.51 from WMT and $0.18 from NKE.

The combined $2.01 in payments brought my April income to $2.58 and my year-to-date income to $44.54.

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