February portfolio update: new personal dividend record

It took until the last day, but thank’s to today’s dividends from Bank of Montreal ($1.46), Ameriprise Financial ($0.83) and Simon Property Group ($1.95), I’ve slipped past the $48 mark in a single month for the first time ever.

In all, my Dividend Farm produced $48.93 of completely-passive income. The cash came from a combined 43 different companies on 14 different days. I essentially got paid every other day, pulling in an average of $3.49 each time. Taken a step further, my portfolio produced $1.74 of dividend income each and every day this month.

My series of small, super-consistent steps are starting to amount to something. If you caught any of my posts this month, you know I’m determined to do something – anything to improve my portfolio – on a daily basis … something I’m happy to say I was able to accomplish this month. On the 14 days I didn’t receive dividends, I either deposited $50 into my Robinhood account or made a purchase or two.

Momentum is key to my march toward $1,000,000. The steps may not be big ones, they almost never are, but every step counts.

Don’t believe me? Have trouble seeing how a $0.25 dividend here and $0.37 dividend there adds up? Can’t see the point in buying shares of AT&T or Ford one at a time? Well, as long as you’re not being charged a commission (and I never am with Robinhood), it’s a great way to go. I earned $11 worth of dividends last February. Now, thanks to making small purchases whenever possible and reinvesting all the dividends I receive, I’m closing in on $50 a month just a year later. According to my rudimentary math skills, that’s a 336% year-over-year boost in income.

Here’s a look at some of the steps I took this month, with links to the corresponding posts:

I earned a personal single-day record of $13.37 of dividend income from a combined seven different companies on the first day of the month. Remember, I earned $11 all of last February. This February, I earned more than that on the first day of the month. That, obviously, got things off to a fast start. I earned another $3.93 from CVS and Foot Locker the next day, helping my record-setting cause even more.

Week starting Feb. 5

I picked up a $0.75 payment from PNC on Monday and boosted my forward annual income by $3.96 thanks to purchases of Ford and Proctor & Gamble on Tuesday. I earned a dividend from Lowe’s on Wednesday, picked up a couple shares of Wingstop on Thursday and hauled in another $2.41 in dividends courtesy of Clorox, General Dynamics, Nucor and American Express on Friday.

Week starting Feb. 12

I hauled in a $8.42 in dividends from 10 different companies Thursday, earned a combined $4.09 in dividend income from Wingstop and MMP Wednesday, bought a share of AT&T (T) Tuesday and earned a combined  $1.57 in dividends from Air Products & Chemicals and Texas Instruments on Monday.

Coupled with Friday’s purchase – a share of Canadian Imperial Bank of Commerce – I earned $14.08 in dividend income while increasing my forward annual dividend income by $7.20.

Week starting Feb. 19

This was another steady week for me. Friday’s dividends, coupled with Tuesday’s $0.10 payment from American Airlines and Monday’s $0.60 divi from MDC, gave me a total of $4.50 in passive income for the week. I also picked up a share of AvalonBay Communities, which boosted my forward annual dividend income by $5.88.

Week starting Feb. 26

Ahh, we’re finally caught up. This week started with a dividend from Royal Bank of Canada on Monday and few more from Fastenal and Lazard yesterday.

DIY DRIP

Remember when I mentioned buying single shares of AT&T and Ford earlier in the post? Well, I went ahead and made that my DIY DRIP this month. In case you’re new here, I kinda take a do-it-yourself approach to reinvesting my dividends since Robinhood doesn’t offer the service. That said, I used this month’s $48.93 worth of dividends to buy a share of T for $36.80 and a share of F for $10.73. And look at that … I even had a buck and change left over.

With today’s purchases included, my DIY DRIP currently consists of a basket of stocks worth $283 that spits out almost $11 of annual income. Not bad considering I’ve built it using nothing but dividend income.

Welp, looks like that’s all I have for ya this month. Hope February was good to you guys. Have a great March.

March on!

4 Responses to “February portfolio update: new personal dividend record

  • Keep up the good work and your dividend farm will really take off

    • I can’t wait. It’s been a fun ride so far … I’m just gonna kinda keep doing what I’m doing and see what happens.

  • 336% YoY gain, solid! I had 356% myself, is ‘t it great to see more and more progress every day?! Love your idea of the DIY DRIP, good choice to go with T aswell, keep on on rolling that snowball down the mountain mate!

    DI

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