Average Monthly Income June 30, 2017, up 1.8% month over month

From 2008 to 2015, I contributed about $21,000 to a pension plan, but I left the job at a time when I was not vested in the plan.  So I set about to turn the contributions into a monthly dividend stream of the amount I would have received at age 65 if I had qualified for it:  $560 per month.  I had slightly over 20 years to do it, and I am currently over one and half years into the project.

My average monthly income going forward is up $1.30 from last month to $72.27, an increase of 1.8% compared to this time last month.  The net increase comes from one sale, one purchase, one dividend increase, and dividend reinvestment in over 40% of my holdings.

I sold Cummins Inc. (CMI) last month, which reduced my monthly income by $1.78.  The sale came with a nice profit, so I had cash to make a new purchase as well as to set some aside to combine with future sales proceeds to purchase yet an other security.

I bought Iron Mountain Inc. (IRM), which increased my monthly income by $2.75.  The current yield on IRM is higher than that of CMI, but the most recent dividend increase at IRM is higher than the one at CMI as well.  So the move will contribute a higher expected dividend growth rate for the portfolio going forward.

Target Corporation (TGT) increased its dividend on June 14.  The 3% increase raised the monthly dividend by about 5 cents.  The increase was less than the one made a year ago, but that could be easily expected based on recent headwinds at Target.

The remaining 28 cents in new additional monthly income came from several stocks which paid dividends which were reinvested: ADM, AMGN, BA, BG, CCL, EAT, GILD, HBI, HOG, INTC, IP, KSS, MPC, PFE, PRU, PSX, QCOM, R, WFC, WHR, WYN.

Thanks to dividend increases, dividend reinvestment, and strategic sales and purchases, the dividend growth rate for this portfolio continues its trend of moving closer to being on tract to meet the primary portfolio goal of $560 in monthly dividend income by December 2035.   The growth rate was behind by more than 2.5% of what it needs to be to being less than 0.5% below where it needs to be.  Good news!

Another stock is waiting to be sold on Monday.  Likely I will have enough cash to make two purchases during the month of July thanks to the leftover cash from previous sales.

Ticker	Shares	Avg Monthly Dividends	One Year Ago	% Change
AAPL	5.094	$1.07	$0.97	10.53%
ABBV	9.531	$2.03	$1.81	12.28%
ADM	12.628	$1.35	$1.26	6.67%
ADNT	1.000	$0.09	$0.00
AMGN	3.100	$1.19	$1.03	15.00%
AMP	5.140	$1.42	$1.29	10.67%
BA	4.198	$1.99	$1.53	30.28%
BBY	16.482	$1.87	$1.54	21.43%
BG	9.261	$1.42	$1.30	9.52%
CAH	7.081	$1.09	$1.06	3.01%
CCL	11.295	$1.51	$1.32	14.29%
EAT	10.377	$1.18	$1.11	6.25%
EMN	7.233	$1.23	$1.11	10.87%
ETN	9.475	$1.90	$1.80	5.26%
GEO	23.322	$3.63	$3.37	7.69%
GILD	6.166	$1.07	$0.97	10.64%
GLW	27.825	$1.44	$1.25	14.81%
HBI	24.170	$1.21	$0.89	36.36%
HOG	12.505	$1.52	$1.46	4.29%
HPQ	37.907	$1.68	$1.57	7.02%
INTC	14.377	$1.31	$1.25	4.81%
IP	13.756	$2.12	$2.02	5.11%
IRM	15.000	$2.75	$2.43	13.40%
JCI	10.119	$0.84	$0.98	-13.79%
JPM	8.265	$1.38	$1.32	4.17%
KSS	11.728	$2.15	$1.95	10.00%
LM	16.447	$1.54	$1.21	27.27%
M	12.548	$1.58	$1.58	0.00%
MPC	16.623	$1.99	$1.77	12.50%
OHI	16.168	$3.40	$3.13	8.62%
PAG	11.080	$1.24	$1.08	14.81%
PFE	15.564	$1.66	$1.56	6.67%
PRU	6.298	$1.57	$1.47	7.14%
PSX	6.198	$1.45	$1.30	11.11%
QCOM	9.417	$1.79	$1.66	7.55%
R	10.380	$1.52	$1.42	7.32%
T	16.141	$2.64	$2.58	2.08%
TGT	7.268	$1.50	$1.45	3.33%
UNP	6.185	$1.25	$1.13	10.00%
VIAB	12.301	$0.82	$1.64	-50.00%
VZ	10.472	$2.02	$1.97	2.21%
WFC	10.287	$1.30	$1.30	0.00%
WHR	3.070	$1.13	$1.02	10.00%
WRK	15.621	$2.08	$1.95	6.67%
WYN	7.186	$1.39	$1.20	16.00%
TOTAL		$72.27	$66.99
Overall annual increase in dividend payments				7.89%
Overall dividend yield -- dividends reinvested				3.25%
Approximate annual growth rate including reinvestment and increases				11.40%
Annual growth rate needed				11.82%
Behind goal rate by				-0.42%
End of June behind by				-0.36%
End of May behind by				-0.64%
End of April behind by				-0.65%
End of March behind by				-1.66%
End of February behind by				-1.71%
End of January behind by				-2.57%