My Annualized Dividend Income as of the end of August increased to $5,361 from $5,302 for the month. This means my dividend stocks will pay $5,361 in dividends over the next 12 months.

I made a few dividend stock purchases over the past month from the dividend distributions of KMP and DPM. Hopefully the dividend cuts will slow down for the rest 2009 as the economy is showing some signs of stabilizing.

My Dividend Income Goal for 2009 was $7,000 in yearly dividend income but due to the poor economy and additional dividend cuts, I will have to review that goal. I think $5,500 would be a much more realistic and challenging goal over the next few months.

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.