Boy oh boy has it been a busy month. Between vacations and extra hours at work I just haven't had the time I need to get some posts cranking out. I've been trying really hard to work the time in to get some posts out. I was on a week long vacation however and I didn't have a laptop to write about my most recent purchases.
Although I haven't been keeping the best track of my moves online as I should, I have still been very active in the market. The good old market has recently had some amazing opportunities and I have decided to take advantage of it. Those opportunities were Target and Omega Healthcare.
Target was a new position for me which has further diversified my portfolio. I purchased 18 shares of Target which boosted my annual dividend income by $44.64. So what made me finally add Target to my portfolio? Well, I was waiting for a few fundamentals to change. The company was currently in a downward trend and I was waiting for a bottom to form and investor sentiment to shift. The stock has really been beaten down and is trading at it's 52 week low. I feel that investor attitude has changed towards the company enough to validate a small position near the bottom. The company also has a rock solid dividend payout percentage of 4.5% with a 49 year streak of increasing dividend payments. This is not something to mess around with and I'm very excited to finally be able to add this one to my portfolio. If prices stay this depressed I would like to further build upon my position at this level since it is on sale.
I also bolstered my position in OHI by adding 20 shares to my current position which boosted my annual income by $51.20. This company is also a rather small position in my portfolio that has been increasing dividends for 7 years straight. This stock has been very stable around the $32-$33 range and I feel very comfortable adding at this level. The companies Ex-dividend date is on the 28th and I really wanted to make it in before that so I could capitalize on the reinvested dividends. The majority of my holdings are very safe and sound investments with rock solid dividends. This stock is shaping up to become a great one but I don't want to add to much just yet. I don't expect to be adding to much more to this position until I can see the payout ratio come down into the 80% range.
Just with these two purchases I increased my annual dividend income by an astounding $94.84! Adding it all up, my annual dividend income is now at $1,533.35! every purchase I make rolls the dividend snowball a little bit more every time. I'm really starting to see this thing pick up speed and I can't wait to pass the next annual milestone of $2k in expected dividend income. I'm currently $666.65 away from my annual goal of $2,200.
With this new addition my portfolio no consists of 17 amazing quality dividend paying companies. I'm just 3 companies short of my annual goal of 20 total companies. The whole Idea behind this is to further diversify my Independence Fund to thwart myself against volatility. With just 3 more companies left to add to my portfolio by the end of year, I already have my eyes on some quality companies that I'm waiting to pull the trigger on. I've really been watching EMR, ED and GPC. These companies are all dividend aristocrats and I would like to add these into my portfolio in the near future.
I also have been looking into monthly dividend paying stocks. I really like to idea of adding 1-2 of these companies into my portfolio down the road. I like the concept of my reinvested dividends compounding quicker due to the monthly additions. I recently have been doing plenty of research into which companies I would like to park my hard earned cash within but with all the amazing deals in the market currently I have been rather short sighted.
Happy trading everyone and thank you for stopping by,