Another month behind us, and another month where I received dividends from quality companies and reinvested those funds into new investments. I’m compounding my wealth one month at a time. It’s definitely no get rich quick scheme, but it will get you rich slowly and surely. And that’s just the way I like it. Slowly and surely.
The dividend income from November was one of my larger months, and was much larger than the income I reported last month. This was due to one of my holdings, Telefonica S.A. (TEF) (ADR) paying out in November, one of its semi-annual payments. Having a large month, in terms of dividends, is really timely right now as the markets continue to swing wildly up and down due to fears of the euro zone crisis becoming worse. Those swings create opportunity, and the more capital to take advantage of them the better.
I hope these monthly dividend income reports provide inspiration for any investors out there that are just starting out. It’s easy to see these payments rising month after month and it shows that it’s possible to one day pay for monthly expenses with dividends, which would provide an investor opportunities and freedom to pursue other interests than full-time work. Without further ado:
- Abbott Laboratories (ABT) – $34.08
- The Procter and Gamble Company (PG) – $26.78
- Telefonica S.A. (TEF) (ADR) – $105.41
Total dividends received for the month of November: $166.27
Another wonderful month, in my opinion. I should note that the dividend received from TEF includes the Spanish withholding taxes already removed. So, in essence, that dividend was actually a little larger as I’ll receive a dollar-for-dollar tax credit next year but I like to include the actual cash that hit my brokerage account. You can look at foreign dividends either way if you fully expect to receive the taxed portion. Going forward, this is how I’ll always include foreign dividends on these reports as I always have in the past.
For most of the year I’ve thought of myself being far behind my goal of receiving $1,200 in total dividend income for the year of 2011. I have received a total of $1,020.16 in dividends through November. With this large month, and an expected large month in December, I may actually catch up and hit it. If I don’t, I’ll be pretty close. I’m pretty excited about that, because when I first set this up as a goal of mine I was receiving pretty small dividend sums. For January and February of this year, I received less than $70 combined. So, this was an aggressive goal. We’ll see how 2011 finishes up. At any rate, I’m excited!
I’ll update my dividend income page to reflect November’s dividends.
Full disclosure: I’m long ABT, PG, TEF.
Thanks for reading.