The nonPension porfolio has been chugging along for over three years now, and it has a little over seventeen years to go before its job of paying at least $560 per month in dividend income. Currently dividends are reinvested, so the average monthly income grows at a rate considerably higher than it would be otherwise. Another factor that currently boosts the growth rate is the number of companies that have increased their dividends by higher amounts than normal due to the reduction in U.S. corporate tax rates. Starting in early 2019, I may see average monthly income increases slow down a bit.
During the last calendar month, my average monthly income increased by 58 cents to $86.44. Where did the increase in income come from?
International Paper (IP) raised its dividend on October 9. That raised increased my average monthly income by 12 cents.
Penske Auto Group (PAG) raised its dividend on October 17. This regular quarterly increased caused my average monthly income to go up 4 cents.
đź’—Iron Mountain (IRM) raised its dividend on October 25. That resulted in an extra 18 cents added to my average monthly income.
đź’¤Westrock (WRK) raised its dividend on October 26. And my average monthly income went up by 7 cents.
In addition, several securities paid dividends in October, and the dividends were reinvested. As a result, the average income going forward is 17 higher than a month ago. These stock include BBY, CAH, EMN, GLW, HOG, HPQ, JCI, LAMR, LM, M, UNP, VIAB, WH, and WYND.
To meet my 2035 goal, my average monthly income will have to grow on average 11.56% per year going forward. My current growth rate is currently considerably higher, so I am in no real hurry to adjust the holdings in the portfolio.
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