I received $83.57 in taxable February 2019 dividend income. My dividend income is a bit frozen lately with no new contributions, but I am happy to see it still coming in and even still growing with just raises and reinvestments.
I’ve frozen contributions until I’m employed again, which will be a few months. After I get laid off (tomorrow!), I play to take some classes and develop a new skill set.
“Freezing my contributions” may not be entirely correct. As I saw this layoff coming, I was able to nearly max out my 2019 401k and will soon max out my 2019 Roth IRA. So, my retirement savings are still on a good track!
Another relatively slow month with only two dividend increases. Both were in the very healthy 10%+ range. I’d have to invest $347 at my current 2.37% portfolio yield to increase my income that much.
ABBV has been amazing, but I worry about their dividend sustainability. Bottom line, my initial yield at purchase was 4.0%, and my yield on cost is now up to 6.7% in under two years.
Forward Dividend Income
Why the -$8.92 in the new investments category? VVC was acquired and I received the cash buyout this month. I lost about $35 of annual dividend income, but I used the cash on two shares of CSCO and started a new position in Avery Dennison. My new holdings add about $26 in annual dividends. I liked VVC and will miss it, but I’m excited to add AVY into my holdings.
Purchases and Sales – AVY, CSCO, VVC
Sold 18 shares of Vectren (VVC) @ $72.00/share
This is my first sale in quite some time, and it was not optional. VVC was bought out and $72 were paid for each share owned. It was one of the all-time best dividend growth stocks for a long time. I wish I didn’t have to sell it, as I probably would have held forever.
Purchased 2 shares of Cisco (CSCO) @ $46.80/share
I’ve been picking up shares of Cisco here and there, and they’ve amounted to almost $900 in my portfolio at this point. I had a bit extra after the VVC sale, so picked up two more shares.
Purchased 12 shares of Avery Dennison (AVY) @ $103.93/share
I’ve had this one on my watchlist for a long time! Packaging is involved in so much of our lives. Dividend growth has averaged 11-12% the last six years, and I think there’s room for share value growth too. Sad to see VVC go, but happy to be a new owner of AVY.
Head on over to my portfolio page if you’d like to see what companies pay me in other months!