Yay, March is over and we are back on the road! I’ll save the details for our larger financial update and we apologize in advance for this hastily thrown together dividend portfolio update.
We just left our winter quarters and have relocated in Utah and because of the work schedule we had in Arizona there are a lot of things we need take care of and a lot of things we need to catch up on before we can get back to our regular lives. So in this update we are going to cut right to the chase and dive into the details.
Our dividend portfolio ending March 2023:
| Symbol | # Of Shares | Change From Prior Month |
| ABBV | 13.854 | – |
| ABR | 28.361 | 2.905 |
| BKH | 3.167 | 0.032 |
| DOW | 9.762 | 0.124 |
| EPD | 5.018 | 1.000 |
| FRT | 6.235 | – |
| GIS | 5.25 | – |
| IBM | 3.272 | 0.042 |
| IRM | 12.983 | – |
| JEPI | 12.707 | 1.088 |
| JNJ | 6.274 | 0.046 |
| K | 2.125 | 0.019 |
| KHC | 5.352 | 0.055 |
| KMB | 2.109 | – |
| KO | 2.106 | – |
| MAIN | 10.603 | 0.108 |
| MMM | 8.465 | 1.106 |
| MO | 12.173 | – |
| MPW | 15.991 | 1.000 |
| O | 5.312 | 0.021 |
| QYLD | 31.93 | 0.637 |
| SCHD | 10.158 | 0.084 |
| SO | 2.151 | 0.022 |
| SPTN | 6.389 | 0.055 |
| T | 15.405 | – |
| VTRS | 10.451 | 0.132 |
| WBD | 3 | – |
| XOM | 5.303 | 0.044 |
In the month of March we received dividend payments from ABR, BKH, DOW, IBM, JEPI, JNJ, K, KHC, MAIN, MMM, QYLD, SCHD, SO, SPTN, VTRS, XOM totaling $81.43. All dividends received were reinvested into the underlying positions. While March is always one of the best months for dividends this was the first time we eclipsed the $80 mark for a single month. Of course we had a little extra help since QYLD paid twice in the month and MAIN also paid out a small special dividend in addition to their regular monthly distribution. But, that’s just how is goes sometimes and we are not going to ruin a good thing by overthinking it.
Year to date we have received dividends totaling $169.21 which is a 40% increase from the first quarter of 2022! Our snowball might not be big yet, but it is rolling and growing!
March started off really slow and it didn’t look like we were going to do much of anything in regards to adding more shares to our positions. But, we were able to generate a few extra bucks and with that little cash influx we added more shares of ABR(2), EPD(1), JEPI(1), MMM(1) and MPW(1). I was particularly happy about getting an additional share of MMM as the stock price has been drilled down by litigation risk and is very attractive. And unless you believe that post it’s and command strips are going to stop selling it’s a nice time to pick up some shares for the long haul and they will pay us a great dividend while we are waiting for the risks to pass.
On a year over year basis for the month of March our dividend distributions increased by a whopping 51.33%. In the comp. this month we were slightly impacted by the loss of WEBR, but that loss was offset by QYLD and MAIN having two distributions in the month. So as we always say, a win is a win and we will take it!
| Stock | March 2022 | March 2023 | YOY Growth % |
| ABR | $3.36 | $10.18 | 202.98% |
| BKH | $1.81 | $1.96 | 8.29% |
| DOW | $6.42 | $6.75 | 5.14% |
| IBM | $5.04 | $5.33 | 5.75% |
| JEPI | $0.00 | $4.78 | 378.00% |
| JNJ | $6.43 | $7.04 | 9.49% |
| K | $1.18 | $1.24 | 5.08% |
| KHC | $2.03 | $2.12 | 4.43% |
| MAIN (m) | $0.66 | $4.21 | 537.88% |
| MMM | $7.54 | $11.04 | 46.42% |
| O (m) | $1.01 | $1.35 | 33.66% |
| QYLD (m) | $8.74 | $10.58 | 21.05% |
| SCHD | – | $6.01 | 601.00% |
| SO | $1.35 | $1.45 | 7.41% |
| SPTN | $1.29 | $1.36 | 5.43% |
| VTRS | $0.48 | $1.24 | 158.33% |
| WEBR | $2.01 | – | -100.00% |
| XOM | $4.46 | $4.79 | 7.40% |
| Total | $53.81 | $81.43 | 51.33% |
Of additional note, we continue to build our position in ABR and that is nicely reflected in the dividend we received this month. Hopefully we can keep the ball rolling and get to the 100 shares needed to start doing covered call options. Then we can generate more income and start building a supercharger add on to the growth of our portfolio.
There are quite a few interesting comps this month as the dividend growth of our positions all showed nice growth year over year. Heck our dividend in JNJ grew 9.49% and we haven’t been able to add a single share in a year and a half. That’s almost 10% growth for just doing nothing! Might need to make a sacrifice so we can to add to that position! And O just continues to be a dividend growth machine as they consistently make small fractional increases to the distributions. It might look like small dollars at the time, but it sure does add up nicely on a percentage basis.
At the end of the month our dividend portfolio was valued at $12,955. This is a 17.26% increase from March 2022 and 1.32% increase from the previous month end.
| Month | 2022 | 2023 | YOY % Change |
| March | $11,048.28 | $12,955.32 | 17.26% |
| Month | Year | Portfolio Value | MOM % Change |
| February | 2023 | $12,786.31 | 1.32% |
| March | 2023 | $12,955.32 |
With the purchase of additional shares and the reinvestment of all dividends received our dividend portfolio will now provide projected annual dividend income (PADI) of $715 or $59 per month on average. This is an annual increase of $24 or $2 per month on average from our last update. Additionally, our yield on cost (YOC) is now sitting at 5.55% which is an increase of 0.07% from the end of February.
Looking forward to April we should see some nice growth in our positions YOY, but it is a bit of a slow month in total. I also haven’t had time to see how the April distribution for QYLD will be paid which could impact our number if it’s actually paid in May.
We continue to look for ways to generate some income in order to keep adding to our positions and increase our income and portfolio growth. April doesn’t look like it’s going to be very good on that front, but neither did March and we got a nice surprise so maybe our prospects will change again this month. One thing is for sure, March was a nice month and we are slowly creeping towards that $750 PADI mark which would be so awesome to reach.
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Happy Investing!!
Joe
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