October 2017 Income
October brought in $491.47 in dividends. This is a massive increase of nearly 175% increase over the $179 that I earned in dividends last October. This increase is largely due to significant investments into GE over the past year. I will continue to accumulate GE at these depressed levels. The risk is that they might have to cut their dividend if they drop any lower. If they do, I’ll just purchase more.
Cumulative dividends for the year are $5843.36, up $1000 from what I received in all of 2016.
Options: I don’t have any options currently open. For more information, please visit my Option’s Page.
I also made some purchases of GE, NAVI, and T over the past month. I’ll be writing about those purchases soon. Needless to say, these purchases bring my forward 12-months dividends to over $9700. I’m quickly approaching the $10k milestone. I’ll hopefully reach this in the next month or two.
And, in case you missed it, I also released a large update to my dividend stock tracking spreadsheet. It fixes the loading errors with Yahoo Finance.
| Symbol | Dividend Amount |
|---|---|
| BAX | $5.20 |
| CSCO | $34.20 |
| CY | $27.93 |
| DEO | $130.51 |
| GE | $227.13 |
| KO | $34.81 |
| O | $12.28 |
| PGX | $0.88 |
| SHPG | $0.61 |
| SOUHY | $17.92 |
Total dividends for October 2017: $491.47
Total cumulative dividend income for 2017: $5,843.36
Forward 12-Month Dividends: $9,739.40
Hourly wage based on 40 hour work week (2087 hrs): $4.67/hour
Hourly wage based on non-stop work (8760 hrs): $1.11/hour
Total option income for October 2017: $0.00
Total cumulative option income for 2017: $779.86
Full disclosure: Long all the above stocks
Wow great job Scott so close to $500. Keep up the good work 🙂
Thanks, Matthew! The goal is to break through $500 next year. Might be a become a bit harder with the GE dividend cut!
Worried about GE’s dividend?
I wouldn’t say I’m not worried, but I still think the long term outlook and dividend prospects are good for GE. If they do cut their dividend it will create great buying opportunities. I’ll be keeping some cash available in case that happens.
I don’t live on my dividends now so I’m really looking at total gains rather than solely dividend growth.
Scott
Wow great income for a low month as well as being over 1k already compared to last year. Great work!
FiscalVoyage recently posted…Dividend Increase AFL & ABBV
Wow… GE is a heavy hitter for you in October. I like your attitude of buying GE on the ‘operating table.’ Often that’s when the best returns are made. Keep up the solid progress in 2017. Impressive year over year gains!
DivHut recently posted…November 2017 Stock Considerations
That was what I was thinking. When most of your dividend income is coming from one stock and the dividend blows up it reminds me of 2008. GE is going to have to cut or at the least freeze the dividend. Their debt load can not handle a nearly 5% yield.
Agree, Dave! I’m hoping GE will do well down the road. I’m okay having my money sit for a bit. The portfolio is being positioned for growth 20+ years into the future and I’m not relying on the dividend income today.
DivHut,
I stayed true to my word too. I’ll be writing a post soon about some decent purchases of GE post dividend cut.
Hi Scott, I recently created a new passive income website. http://www.passiveincomewiz.com
I have admired your site and content and would appreciate any feedback. Your site inspired me to create my own. Thanks, TJ Mitch
Hi TJ Mitch!
Thanks so much for the comment. I apologize for the late reply. November has been a very busy month from professional and personal obligations. That’s awesome that my site helped inspire yours! I’m humbled.
Scott
Scott, I like your positive attitude about GE. I am a long term holder and like reader Dave above, I am a little more than worried about a potential dividend cut. We will see what happens. I may add to my position in AT&T. It has not participated in the stock market rally and the dividend yield is looking very attractive. Tom
Tom @ Dividends Diversify recently posted…I Have Lost My Compass (Part 1)
Tom,
AT&T is one of my larger positions as well. We’ll see what happens with the TimeWarner merger. I might be adding some more as well. The dividend yield is looking very attractive and, unlike GE, it is well-covered.
Scott
Awesome job. You knocked it out of the park and getting close to 500.00 you will be there soon. High stakes in the GE though. Beating last years is always good though it will get harder and harder. Keep it up.
Doug recently posted…OCT 17 Dividends
Hey Doug,
Thanks! It will definitely get harder to beat this years amount now after that massive 50% cut from GE. I’m optimistic that additional purchases will make up for it.
Scott
Hey TI,
WOW!! – nearly 500$ in an off month like October and a growth rate of 175% – Just awesome! If you keep a pace like that you’ll reach FI in a few years.
Of the companies which paid you, i especially like Realty Income, Cisco and Coca-Cola. – General Electric did the heavy lifting for you, i thought about purchasing some shares but decided to stay on the sidelines.
Keep it up!!
DividendSolutions
Thanks DividendSolutions,
Did you end up buying any GE with the recent drop after the restructuring announcement and dividend cut?
Scott
Nice month and Nice increase in dividend. Yearly dividends looks awesome! BTW, I got few shares of GE too. It will turn around long term.
Thanks, dividendgeek. I just purchased more GE with their recent drop in price. They’ll figure things out!
Scott
Wow. That is definitely one big Dividend from GE. That DRIP must have been incredible. It looks like you are pretty comfortable with the dividend based on your responses to other comments, but it will be interesting to see what management decides to do with their payout. Regardless, congrats on the great month.
Bert
Dividend Diplomats recently posted…Lanny’s October Dividend Income Summary
Bert,
Thanks! The DRIP was incredible. 10.6 shares purchased from the dividend alone! With the 50% dividend cut, that will be lower next quarter, but not too bad since lowered my cost basis by purchasing some more shares.
Scott
scott recently posted…I’m seeing red and buying more GE
My friend has been telling for ages to take some money out of the bank and invest for dividends. So I’ve been searching the web for information.
Your cumulative dividend of $5843.36 for the year is impressive, and it gives me some ideas of what can be achieved. Thanks for sharing.
Leo Tat recently posted…23 Turmeric Curcumin Health Benefits and Uses
Hi Leo Tat,
Thanks for reading the blog and commenting. Yep, dividend investing is a great long term approach to investing. If you don’t need the dividends to live on now, the best method is whatever generates the highest total portfolio value. If that is in dividend paying stocks, great; if not, that is okay as well.
For example, investing in Amazon with its super high PE and no dividend, over the past couple of years would have been much better than investing in nearly any dividend paying company out there. It all comes down to total portfolio growth. I invest a lot in dividend payers since I feel that they will perform well over the long run.
Scott
That’s a solid month and great y/y growth. I see that a lot of that is from GE which recently cut their dividend but hopefully the company can use those funds to grow and bounce back.
Thanks for the comment. Yes, the GE dividend cut did hurt, but I used that opportunity to buy more shares. I’ll be writing a post about that soon.
Scott