The hits (dividends) keep comin’

Don’t look now, but I’m making an average of $4.54 a day in dividend income so far this month.

That’s right, people … $4.54 … a day!

If I sound a little excited it’s because I am. Not because I’m crazy enough to think I’ll be able to quit my day job anytime soon, or believe the sudden influx of cash will continue the rest of August (I know right around what I’m going to get dividend wise and it’s not the $140-plus $4.50 or so will get you over a 31-day period).

I’m pumped because I’m making progress.

At this time last year I was making exactly $0 a month in dividend income. I had a portfolio, but it had $100 sitting in it without a single stock to keep it company. I knew I wanted to turn that cash into some equity, but I had no clue how I wanted to invest it.

Today, well, the plan is crystal clear. It’s getting clearer by the dividend. I don’t get a ton of money every single day – and I’d consider $4.54 in passive income a day a ton of money at this point – but my dividend stream is a constant one. Each small but consistent payment motivates me to keep marching … and that’s what I’m doing.

I made just more than $25 in dividend income in July. Now, thanks to Thursday’s combined $5.70, I’m sitting at $13.64 for August … and we’re only three days in.

Dividends

TD Bank: I love Canadian banks. Great histories of paying dividends and good, growing yields to complement the track records. TD paid me $2.40 Thursday – a mark $0.20 better than what I received when it paid me back in May. I have 5 shares of TD making up 1.87% of my portfolio. It’s up 2.75% since I opened a position a while back.

CVS Health: My CVS position – 5 shares making up 2.89% of my portfolio – is down ever so slightly (0.55%), but I’m happy with the dividends. I’d buy more shares of CVS today if I had the money. Seems like a good value these days.

Raytheon: Defense stocks have been booming lately, and I don’t think any of you need me to tell you why. RTN is up 24.07% since I bought my one and only share late last year. It paid me $0.80 Thursday, same as last quarter.

Today’s top performers

CINF (+4.29%), RCL (+2.15%) and CLX (+2.08%) were my best performing stocks Thursday.

Today’s bottom dwellers

PRU (-4.32%), ADP (-3.02%) and DRI (-2.95%), all stocks I really like, were my worst performers Thursday.

Overall, my portfolio dipped $16.16 Thursday.

  • Wow, this is a very good start. I’m sitting at $60 this month. I’m expecting dividend payments from two more companies this month which will put me at the $150 range! You should be impressed with the high daily yield also. I’m currently at an average of $3.30 per day thos year.

    • Steady Saver

      That’s great stuff, bud. I can’t wait until I get up into that range. $3.30 a day would be amazing … as would $150 in a month. Awesome!