Breaking into new territory

I just passed the $150 mark in dividend income

I knew what I was getting into when I made the decision to become a dividend-growth investor. I knew building a portfolio from the ground up would be a process. I also knew the passive income stream the dividends produced would be more of a trickle than a stream, at least for awhile.

Now, a little more than halfway through 2017 – my first year earning dividends – I know even more.

Like any worthwhile endeavor, dividend-growth investing takes time and effort. Success doesn’t happen overnight … it’s about creating a path and methodically marching along it. Don’t stray, but take your time and enjoy the stroll.

I make it a point to celebrate each and every step I take, whether it be in the form of a small dividend or new purchase. I received two more dividends Monday – $0.45 from Quest Diagnostics (DGX) and $0.94 from McCormick (MKC) – and, while those two payments might not seem like much, the combined $1.39 brought my lifetime dividend income up over the $150 mark ($150.59).

To me, that’s not a tiny amount of money. I could find a lot of useful things to do with $150 and I certainly won’t take it for granted. The most useful thing I could do of course, which is what I have done and will continue to do with every cent I receive, is reinvest it.

Monday’s two dividends brought my July total up to $15.87. I was paid the same amount this quarter by the two companies as I was last quarter, meaning I haven’t added to my positions and neither offered up a raise between then and now.

MKC hasn’t been the best performer in my portfolio. At an average cost of $99.43 (I own two shares), I’m down about 6%. The market doesn’t seem to be a big fan of the company’s acquisition of Reckitt Benckiser’s food division, pushing the stock to a six-month low, but earnings and growth aren’t a concern as it dominates the spice and seasoning category.

DGX, meanwhile, has been a great stock for me … up 13.50% since I purchased my one and only share for $95.92 back in February. Quest Diagnostics was recently in the news after completing the acquisitions of the lab businesses Med Fusion and Clear Point. Reports are the two businesses will create a foundation for Quest’s first national center of excellence in precision diagnostics for oncology.

That’s all for now. Talk to you later.

  • Congrats on the new milestone. I’m sure you’ll look back at this post one day and say wow, I started from this. I know I’ve already experienced this she looking at my first time breaking $100 in a given month. Keep up the hardwork. I look forward to your dividend portfolio growth.

    • Thanks! Honestly, reading your posts have been inspiring to me. I don’t have to guess what’ll happen 2, 3, 4 years down the road. You, and many others, prove to me all the time how awesome DGI can be.

  • Justin Michael Bellear

    Awesome job!!

    • Really appreciate it, buddy.

    • Thanks, buddy. It’s been a fun first half of the year.