My Annualized Dividend Income as of the end of December increased to $5,907 from $5,780 . This means my dividend stocks will pay $5,907 in dividends over the next 12 months.
I made a few dividend stock purchases for the month which made up the increase. I have not had any move dividend cuts at this time and hopefully there will be fewer dividend cuts in 2009.
I did not make my updated 2008 Dividend Income Goal of $10,200 in yearly dividend income due to the dividend cuts over the past few months. I will have to work on a new dividend stock goal for 2009, keeping in mind there may be more dividend cuts this year and smaller dividend increases for the firms that do increase dividends.
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.
December Dividend Income Update
Posted by The Div Guy | Tuesday, January 06, 2009 | dividend plan, income | 2 comments »
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Great site. After spending the last couple months reading your content, Div4Life, and DGI's site, I've begun to develop my dividend investment strategy. I currently max out my 401k in vanguard index funds and plan to fully fund a Roth IRA (08 and 09) to begin investing in dividend stocks. I've put off opening an account for awhile now as I have been unable to decide on a broker. Luckily, the market has created a lot of value opportunities over that period. If you consider it's for a Roth IRA, I plan to reinvest dividends, I want the lowest cost possible to maximize return - I've narrowed it to Firsttrade, Zecco and Sogotrade. Since sogotrade doesn't offer an IRA yet, it seems like Zecco has an edge in that it offers free trades vs. $6.95 at firsttrade, but Zecco doesn't offer fractional shares...while firsttrade does. Since the concept behind dividend investing emphasizes reivestment, would it make more sense to use firsttrade since my Roth IRA will be limited in its funds and will not be able to maximize the dividend reinvestment at zecco because no fractional share buying is available? Long winded, but would appreciate any thoughts. Thanks.
Pat,
I don't know much about firstrade. I just wait until I have enough to purchase a stock at Zecco on some of my small holdings. You would still earn a little interest on the cash between trades.