And just like that we are off and running in 2024! Welcome to our first dividend portfolio update of the new year!
At the end of 2023 we set a lofty goal of trying to hit $1,000 in PADI by the end of 2024. We finished 2023 at $837 so we will need to add $163 this year to reach our year end goal. This might prove difficult as most months we add less than $10 to our total. We are also trying to be more selective with where we put what little funds we do have.
For the most part we have done pretty well in our portfolio. But, like most investors we have made some mistakes and that has cost us. We don’t fret over it too much because mistakes are a part of investing. The important thing is to learn from those mistakes and make better decisions going forward.
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One of our early mistakes in starting this dividend portfolio was chasing yield in individual stocks. This is a common investor error. The thought of getting a nice juicy return is always tempting. And who doesn’t like to see their PADI jump by leaps and bounds with each purchase and reinvestment? The problem is it’s a blessing and a curse. The dividend looks great when you get it, but it doesn’t matter if the underlying stock is garbage.
As such, we have focused more on adding shares of ETF’s like SCHD to build a stronger base for our portfolio. Since we are getting regular pay checks we buy shares like clockwork on paydays. However, when April rolls around and the paychecks stop it will get a little more difficult. At that time we will be back on the road until our house is built so our investable income will also dry up. For now we will continue to build this position and figure out the rest later.
Let’s check out our January 2024 dividend portfolio update numbers!
Our Dividend Portfolio Month Ending January 2024:
| Symbol | Description | Quantity | Change From Prior Month |
| ABBV | ABBVIE INC | 14.347 | – |
| ABR | ARBOR REALTY TR REIT | 33.296 | – |
| BKH | BLACK HILLS CORP | 4.2867 | – |
| DOW | DOW INC | 10.1589 | – |
| EPD | ENTERPRISE PRODS PART LP | 5.208 | – |
| FRT | FEDERAL REALTY INVT TR REIT | 6.5193 | 0.0693 |
| GIS | GENERAL MILLS INC | 5.372 | – |
| IBM | IBM CORP | 3.3826 | – |
| IRM | IRON MTN INC NEW REIT | 13.5564 | 0.1294 |
| JEPI | JPMORGAN EQUITY PREMIUM INCOME ETF | 14.5249 | 1.1044 |
| JNJ | JOHNSON & JOHNSON | 6.4162 | – |
| K | KELLANOVA | 2.1875 | – |
| KHC | KRAFT HEINZ CO | 5.535 | 0.058 |
| KMB | KIMBERLY CLARK CORP | 2.1868 | 0.0208 |
| KO | THE COCA-COLA CO | 2.1727 | – |
| MAIN | MAIN STREET CAPITAL | 12.2092 | 0.0668 |
| MMM | 3M CO | 9.8668 | – |
| MO | ALTRIA GROUP INC | 14.7725 | 0.343 |
| MPW | MEDICAL PROPERTIES REIT | 18.223 | 0.725 |
| O | REALTY INCOME CORP REIT | 12.1832 | 0.0529 |
| QYLD | GLBL X FND GLB X NSDQ 100 CVD ETF IV | 35.2373 | 0.6828 |
| SCHD | SCHWAB US DIVIDEND EQUITY ETF | 18.4925 | 2.0000 |
| SO | SOUTHERN CO | 2.2173 | – |
| SPTN | SPARTANNASH CO | 6.5704 | 0.0594 |
| T | A T & T INC | 17.272 | – |
| VICI | VICI PROPERTIES INC | 7.1805 | 0.0925 |
| VTRS | VIATRIS INC | 21.6394 | – |
| VZ | VERIZON COMMUNICATN | 3.096 | – |
| WBD | WARNER BROTHERS DISCOVER | 3 | – |
| XOM | EXXON MOBIL CORP | 5.442 | – |
In the month of January we received dividend payments from FRT, IRM, JEPI, KMB, MAIN, MO, MPW, O, QYLD and VICI. Our dividend payments for the month totaled $61.75. All dividends received have been reinvested back into the underlying positions.
MPW continues to be a a drag on our portfolio with no end in sight. The position is less than one half of one percent of our portfolio and negligible when it comes to our overall portfolio. We will continue to hold it and see what happens, but it isn’t looking good. Worst case, we have a small tax write off which wouldn’t necessarily be a bad thing for us. We are making a lot of financial moves when it comes to building our home so we might have some gains to offset this year.
The month of January was a very slow month for purchases in our dividend portfolio. We continued our plan of adding to our position in SCHD (2) with each paycheck. Aside from that we only had enough funds to make one other purchase so we added a share of JEPI (1).
In January we received dividend payments totaling $61.75. This was a 20.04% increase over our dividend payments January 2023. Obviously as our portfolio grows it gets harder and harder to have big percentage gains on a year over year basis. As such, we are very happy to see that we still achieved 20% growth heading into the fourth year of building this portfolio.
| Stock | January 2023 | January 2024 | YOY Growth % |
| FRT | $6.67 | $7.03 | 5.40% |
| IRM | $7.93 | $8.73 | 10.09% |
| JEPI | $5.97 | $5.74 | -3.85% |
| KMB | $2.43 | $2.56 | 5.35% |
| MAIN (m) | $2.33 | $2.91 | 24.89% |
| MO | $11.21 | $14.14 | 26.14% |
| MPW | $3.40 | $2.62 | -22.94% |
| O (m) | $1.30 | $3.11 | 139.23% |
| QYLD (m) | $10.20 | $11.97 | 17.35% |
| VICI | $0.00 | $2.94 | 294.00% |
| Total | $51.44 | $61.75 | 20.04% |
Dividend growth in our positions in JEPI and MPW were negative on a year over year basis. MPW is reflecting the dividend cut that was implemented last year while JEPI just had a lower distribution for the fund. There is no need to worry with JEPI as it’s just how it goes with the type of ETF. MPW is another story and they need to turn things around soon.
At the end of January 2024 our dividend portfolio was valued at $15,450.17. This is a 1.64% increase from month ending December 2023 and yet another new high. The selloff on the last day of the month was kind of a bummer, but that’s investing and we still had a positive month!
| Month | Portfolio Value | MOM % Change |
| December 2023 | $15,200.20 | 1.64% |
| January 2024 | $15,450.17 |
On a year over year basis our dividend portfolio value increased by 18.63%. This is always a great perspective for us. We like to see where we came from and that we are moving in the right direction regardless of current market conditions.
| Month | Portfolio Value | YOY % Change |
| January 2023 | $13,023.98 | 18.63% |
| January 2024 | $15,450.17 |
With the additional shares added and the reinvestment of all dividends received our portfolio will now provide projected annual dividend income (PADI) of $845. This is just over $70 per month on average and just an $8.00 per year increase from last months update. Our yield on cost (YOC) decreased by 0.03 to 5.56%. Like last month this decrease is attributable to our focus on adding to our position in SCHD which yields around 3.62%.
January was a little disappointing in terms of portfolio position growth. We were hoping to have more investable income to make some purchases. And instead of launching towards hitting our $1,000 goal we ended up with a dud of a month.
We need to average adding about $14 a month in PADI to reach our goal. With January in the books and only an $8 increase for the month we are already behind the pace. Hopefully we can generate some additional income to make up the shortfall and get back on track. The good news is that it’s only February so there is plenty of time to figure it out.
Thank you for taking time to read our January 2024 financial update. Let’s get after it and make some money this year!
Happy Investing!
Joe
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