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Mongkol Onnuan
We’re again to kick off the primary month of 2023 in type! Every month, we summarize our dividend revenue to not solely maintain ourselves accountable, however to additionally share our progress and journey to monetary freedom with all of you! Our January dividend revenue confirmed some very sturdy development. We’re pumped to share our January dividend revenue abstract proper now!
Why I Put money into Dividend Shares
I put money into dividend shares to develop my passive revenue. Someday, my dividend revenue might be giant sufficient to cowl my month-to-month bills and permit us to retire early. That’s the reason we’re relentlessly trying to find undervalued dividend shares to purchase. To place our hard-earned money to work.
We save a excessive share of our revenue every month to assist gas our dividend inventory portfolio. Having a excessive financial savings fee is a key pillar of our technique and helps gas the fireplace and push the snowball additional downhill.
Whereas we’re ready to speculate our cash available in the market, it’s incomes a excessive rate of interest in accounts. There may be nothing extra important than maximizing each greenback in your financial savings account.
The three main financial savings accounts I exploit are:
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- SoFi – 3.75% APY on all financial savings accounts (2.5% in your checking account). The race for deposits is intense! Banks and credit score unions are providing nice financial savings charges.
- Capital One 360 Financial savings – 3.40% APY – We use Capital One.
- Yotta – 1%-2% APY, on common. They simply up to date their product as nicely. Now, as an alternative of weekly drawings, they’re providing day by day money drawings! Not the largest fan of the day by day drawings; nevertheless, Yotta continues to tweak their system to drive extra earnings to their clients.
How Do We Discover Dividend Shares to Purchase?
That’s simple. We use our dividend stock screener with each inventory buy! This straightforward, 3 step inventory screener is designed to establish undervalued shares with a robust payout ratio which have a historical past of accelerating their dividend. Elementary dividend development investing at its best.
Constructing a big dividend revenue stream takes time, consistency, exhausting work, saving, and most significantly, investing. I’ve been investing in dividend development shares since 2012. Saving a excessive share of my dividend revenue permits me to speculate as a lot as attainable, so we will retire as quickly as attainable.
Slowly, however steadily, my income has grown. Brick by brick. DRIP by DRIP. It’s actually thrilling to see the expansion and bigger dividend checks trickle into my brokerage account.
Every month, we share our dividend revenue summaries to focus on our development and progress. It’s a enjoyable and useful train that holds us accountable. Additional, it helps you, our followers, see the shares we’re buying.
Bert’s December Dividend Revenue Abstract
We obtained $736.32 in January dividend revenue! This represents an 18.46% dividend enhance in comparison with final yr. Not dangerous, not dangerous, proper?!
The sturdy dividend revenue development is nice! That’s precisely the way you need to begin the yr off. Our dividend revenue grew practically $115 from January 2022. Here’s a detailed breakdown of every particular person dividend obtained.
As all the time, I share some observations about our January dividend revenue. Listed here are some key observations from our sturdy month to begin the yr!
Commentary 1: We Nearly Have a New Number one Dividend Payer
It’s a two-horse race for our prime dividend-paying inventory within the first month of the quarter. Canadian Imperial (CM) has been our number one dividend payer for fairly a while. Slowly although, Leggett & Platt (LEG) has closed the hole.
Over the previous few months, I’ve added just a few shares each few weeks to my place within the Dividend Aristocrat. Now, LEG is on the verge of taking up the #1 spot.
Let’s examine which one of many shares declares a bigger dividend enhance in 2023. Fairly frankly, I’m not anticipating a lot from both on the dividend development entrance.
On a barely totally different be aware. It’s a little shocking how a lot of a drop-off there may be between dividend payer 2 and three on this listing. Possibly it’s time to load up and purchase a ton of PepsiCo (PEP).
Commentary 2: Including to Positions After the Ex-Dividend Date
One in every of my objectives this yr is so as to add to smaller positions to keep away from receiving small dividend funds. After the ex-dividend date, I bought some shares in dividend shares that paid us a dividend this month.
Come April, I must be receiving bigger dividend funds in Medtronic (MDT), Fulton Financial institution (FULT), and even Huntington (HBAN). Build up these smaller dividends are going to be clutch and it is going to be superior to obtain bigger dividend funds from all corporations sooner or later.
Abstract – January Dividend Revenue
One month down. Eleven months to go. We’re beginning the yr off sturdy and on the brink of crush it in 2023. That is the way you set the tone proper for the yr. It would inspire me and proceed pushing us to understand all these dividend development charges each month. Now, let’s maintain going and construct on this sturdy January dividend revenue.
How a lot dividend revenue did you obtain this month? Did you might have a robust month? Who was your prime dividend paying inventory this month?
Editor’s Be aware: The abstract bullets for this text had been chosen by Looking for Alpha editors.
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