dividend income

April 2017 Dividend Income

April is over, and it was a pretty good month for us overall.

In addition to receiving more dividends, we contributed $125 to our brokerage account, I was offered three internships for next year, and I finished up the semester.

I have a separate internship starting in a couple of weeks, but in the meantime, I don’t have anything going on, and that means more time to devote to writing. I’m looking forward to being able to spend more time fleshing out some of my ideas for Finding Wealthy, so stay tuned for that.

April Dividend Totals

This month we had 5 stocks that paid out dividends. GE, MITT, NLY, PNNT and DNP, for a grand total of $73.19, which you can see in this table here.

April 2017 dividend income

This wasn’t an all-time record since we’ve had bigger months in January and last October, but it’s a record for April and represents a 28.09% increase from last April. In addition, I’m looking forward to seeing more months with our dividend income this high as we start to gain traction.

I’m especially excited about when our dividends will be over $100 dollars a month, every month. Some of the other dividend bloggers I follow are at that point, and it’s inspiring.

Our Yearly Dividends

Alright, so we had a pretty good April, but how are we doing for the year?

We’re now 1/3rd of the way through the year, and our total dividends are at $180.98, which is 45.25% of the way towards our $400 dollar goal. We’ve officially pulled ahead of schedule!

I’ve also decided to start reporting on how we’re doing compared to our forward dividend goal for the year.

At the end of this year, our goal is to have a forward dividend income of $500 dollars. That means that come December 2017, our goal is to own enough dividend paying stocks that we could expect to receive $500 dollars in dividend income between then and December 2018.

So how are we doing?

I wish I had kept a record of where we were when we started the year out so that I could give you a better comparison, but unfortunately, I didn’t. As far as I remember, we were somewhere around $390 in forward dividend income when the year started.

Right now, our forward dividend income is $418.77, so we’re 83.75% of the way to that $500 goal already, and the only stock I’ve purchased myself is $50 worth of SSI as a speculative play.

Before this year, I wasn’t using a DRIP (dividend reinvestment plan) for any of our stocks. Instead, I was collecting the dividends and pooling them with our monthly contribution so that I had more capital to invest on our semiannual cycle. I ended up running the math and realized that we’d have a greater return if we started using a DRIP instead of what I was doing, so we opted in to do that using my brokerage account.

The increase from there to $418.77 has come entirely from dividend reinvestment, and it’s very satisfying to see how much of an increase that’s created for us in just four months.

I’m glad to see that we’re benefiting from being willing to adjust the strategy I was using before.

To finish up, remember the Haitian proverb:

Little by little the bird builds his nest.

That’s what this journey is all about.

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