November Dividend Income Update

Posted by The Div Guy | Tuesday, December 09, 2008 | , | 6 comments »

My Annualized Dividend Income as of the end of November decreased to $5,780 from $10,175. This means my dividend stocks will pay $5,780 in dividends over the next 12 months.

My dividend income dropped almost in half during the month. My largest dividend stock, ACAS, stopped its dividend payments. Also DSX has stopped its dividend payments as well. This is the second month in a row my dividend income went down because of dividend cuts. Hopefully there will be fewer dividend cuts for the rest of the year.

I am now well below my updated 2008 Dividend Income Goal of $10,200 in yearly dividend income. My stock purchases will be smaller for the rest of the year and dividend income should not increase much.

Most of my stocks are held in my Zecco Trading account and the rest are DRIPs. The dividends from my stocks are reinvested but I am keeping track of the amount of income I could receive once I retire or choose to receive the dividends in cash.

6 comments

  1. Anonymous // December 9, 2008 5:24 PM  

    If your two biggest holdings were ACAS and DSX, it's not that surprising it got cut given their yields were definitely pricing in a cut.

    I'm no longer tempted by those with 10%+ yields. Unless I can find a reason for them to maintain it.

  2. Bill M // December 9, 2008 7:11 PM  

    Thats terrible, but alot of these companies are holding on to cash right now for various reasons. Hopefully when the economy recovers so does the dividend

  3. The Div Guy // December 10, 2008 8:19 PM  

    Anon,

    To clarify, KMP is my largest holding in terms of dollar value and it pays me a yield of over 10% on my original investment. So I agree not all high yield stocks are the same.

    Also I held ACAS for a few years and used their dividends to purchase other dividend stocks. So I still have a lot to show from my ACAS dividends.

    Bill,

    I think after we see a recovery, we will see dividends resume. I am just not sure when the recovery will happpen but I can wait it out.

  4. MG (moneygardener) // December 11, 2008 7:40 AM  

    Wow, why such a drastic drop. Were you overweighted in names that cut?

  5. Dividends4Life // December 11, 2008 6:19 PM  

    Ouch, November was a painful month for a lot of us.

    Best Wishes,
    D4L

  6. The Div Guy // December 12, 2008 6:17 PM  

    MG,

    Yes, I was overweighted in ACAS. KMP has been my largest holding but ACAS was my second largest holding by far and then DSX.

    D4L,

    I am just going to slowly keep buying more dividend stocks but mostly more conservative stocks.

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