Thanks to selling off nearly all of my employer’s stock earlier this month, I was flush with cash and was able to make not just one stock buy for the month, but three! (and I still have some remaining cash for a possible fourth purchase!). What a great way to end the year, with a sweet boost to my dividend income, which should help see the new year get off to a great start.
Taking advantage of being near their 52-week lows, I purchased an additional 75 shares of PFN at $10.20 and 60 additional shares of RSO at $5.12. Unfortunately, VFL didn’t drop much at all since my first puchase last month, but I wanted more shares, so I bought 145 more shares at $12.97 for the same reasons as my first purchase of VFL.
With the last purchase (VFL) I crossed an important milestone: My monthly income (not to be confused with my *average* monthly income, which is simply my total quarterly dividend income divided by 3) now exceeds $500.00. That’s soooo cool that my minimum dividend income each month will be $500.
Still, I’m not going to celebrate this latest gain in my dividend income too much. In my past experience, most dividend cuts occur with the start of the new year, so this new high point in dividend income may be fleeting and I will slip a bit next month.
But for now, these three new purchases have boosted my average monthly dividend income very well. My projected average monthly dividend income is now $542.28. Nice! 🙂