What a stellar month it has been and I'm really enjoying the ride as the market continues it's bullish rise! It has been over a month now since I have been using the Robinhood trading platform and I just wanted to share some insight into how it has been so far and the methods I'm employing to simulate my own DRIP method since RH doesn't currently offer one.
I'm slowly adding into my current positions while still trying to open new positions and expand my ever growing portfolio. It has been a lot easier for me to put a little money into one position, and put a little bit over here into another position. I'm really enjoying the more laid back approach that I have developed using RobinHood since I don't have to be as strict with my trades. I used to be super strict because I wanted to keep my trading fees low and I know how quickly they can rack up and that equals money being thrown into the wind that could have been compounding in my fund.
I've been keeping a watchful eye on the market and I'm definitely being adamant about adding even more solid paying dividend aristocrats to my holdings. There are still a lot of good deals to be had in the market and one has to pay close attention to the everyday events in the market tin order to scoop up the deals. I'm really working at adding more and more aristocrats when I see a good deal pop up and so far I'm doing pretty well with 18 out of 24 of my holdings being in the aristocrat status. I've also been trying to have a good balance between expanding my company holdings while also increasing the current share count in my current holdings.
Ever since switching to RH I really don't have a good method for creating my own kind of DRIP method beside simply purchasing a single share of said company once I receive a dividend. It's not the same at all and one could argue that due to the positions in my RH account not being as large adding a single share is definitely better in the long run then if they did offer a drip method. The only snag I run into with this idea is that I would need to sometimes have a lot of extra capital allotted to simply add to these companies. I gave it a try over last week and ended up adding 1 share of ED which gained me $2.76 in annual dividends and 1 share of ADM which added another $1.92 to my annual dividend income.
I won't have to big of an issue with this one unless It continues to be higher share priced companies such as JNJ, PG and TROW. So far it appears to be a solid plane and I may end up adjusting down the road where I'll do a skip cycle on the higher priced companies if I can't swing the extra capital.
I also ended up adding another company to my portfolio that I've had my eyes on for awhile. That company is WPC. I took a small position of 6 shares totaling $412 which added $24.24 to my annual dividend income. I'm really loving the current share price of this company amazing with the amazing dividend yield of 5.86% a 16 year streak of paying increased dividends and a Free cash Flow of $16.59 per share which gives it an amazing AFFO of 73.4%.
What really makes this one shine to me is the diversification this company has with 1/3rd of their properties being held over seas. This is a strong suit to me as diversification is key in any financial situation and this further increases the safety net that this dividend achiever provides. It doesn't have the ultra high safety such as O but is never the less in a super stable spot to continue t grow revenue and dividend payouts down the road. I'm definitely going to be adding more to this one down the road and also looking to start a position in O very soon.
Over all these latest Pseudo DRIP investments and new company addition added $28.92 towards my annual dividend income. This ball is continuing to roll and I'm loving the pace this fund is picking up. It's gaining steam with every share added and every dividend increase. Thanks for stopping by and please comment and let me know what you think about my DRIP method and Company addition.