This is the first monthly dividend income update for YourAverageDough. These will likely be short and sweet, as I prefer to do my stock analysis in Seeking Alpha articles.
Please be sure to review the disclosure at the bottom of these articles. I do NOT give stock advice, but rather share what our stock portfolios include, the income we are generating from them and my opinions. It is important for you to do your own research and make your own decisions regarding your investments.
For some background information, the income is generated from 5 different accounts managed between my husband and I (one of which we have designated as an account for our daughter, but is held in our name). These accounts are both IRAs and regular brokerage accounts. What is NOT included in these updates is any employer-sponsored retirement plans. Those are all managed separately. We currently DRIP; in other words, all of our dividends are reinvested in the stocks we received them from. Our investments are generally held long-term and the money in these accounts is not going to be used any time soon.
In October 2020 our total dividend income was *drum roll* $1,835.29. We received dividends from 9 different stocks. Our top 3 dividend generators are still Philip Morris (PM), Coca-Cola (KO) and Altria (MO). These three stocks alone made up almost 90% of our dividend income for the month of October. Below is a screenshot of the income received from all 9 stocks from October 1st to October 31st 2020.
One thing I’d like to note is that the income from BEP is actually a partnership distribution, rather than a qualified dividend; however, these distributions are still reinvested in the stock, so I include them in the dividend income tally. That being said the main difference between a partnership distribution and dividend income from an investor standpoint is the way they are taxed. So, it is not lost on me that it is different, but my treatment of the income remains the same.
To make things easier, I have again included a key below depicting what companies the ticker symbols represent.
We are overdue for some stock purchasing, so while I don’t have any news to share in October, going forward I will likely include any new dividend stock purchases made during that month when I share my monthly update.
Related Post: Q3 2020 Dividend Income
Again, as this is a new series, I would love feedback regarding any additional information you would like to see in these and I am always happy to answer questions you may have. I hope you enjoyed this update. Happy investing 😊
Disclosure: This article expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. Please do your own proper due diligence on any stock directly or indirectly mentioned in this article. This article should be considered general information and not relied on as a formal investment recommendation.