How Was My Dividend Income for Q1 2012?

I couldn’t wait for the end of the first quarter to see how I ended up doing with the dividend income in my retirement account.  Three months is a long time to wait and see if you made your goal.  In case you missed it, my goal for these first three months was to get to $1500 in dividends.  Then the plan is to increase that figure by $300 per quarter throughout the year in order to end the year by making $2400 (or $800 per month average) in the last three months of 2012.

In order to accomplish this goal, I have started a transition away from stocks that don’t pay dividends to those that do.  I ended up adding Seadrill (SDRL) to my portfolio and Seagate (STX) as well.  I still have other stocks that I am wanting to replace as I end up with a decent profit from my earlier positions.  I still have the opportunity to purchase many more dividend yielding stocks so I should ultimately be able to come close to meeting my goal.  So, how did the first quarter turn out?  Here is the graph:

I hope that you can tell I made my goal.  My total dividend income for the quarter was $1588.75.  Theoretically, then I should only need a little over $200 to hit the target of $1800 for the second quarter.  Surprisingly, I did not get a dividend from Silver Wheaton (SLW) which will ultimately cover the majority of that $200.  I simply need to buy a few more shares or have a company or two increase their payout.

The Plan

I figure that a few more shares of Seadrill might do the trick.  It pays out $0.80 per share so I would only need 200 to accomplish that.  Of course, I would have to pay for them and the amount of cash in the accounts is limited right now and none is being added.  I could make some cash by continuing to sell covered calls which I have been doing.  Finally, once I can sell my remaining shares of AK Steel, I would have enough for the 200 shares of SDRL.

I also could purchase some more shares of Intel or Seagate since I do have some cash in those accounts.  My retirement account is divided into four separate pools.  It is complicated but it is the way it has been and won’t change anytime soon.  But that doesn’t really matter.  What matters is that I have been able to increase my dividend income and remove some volatility from my portfolio.  (Plus I can put graphs into posts!)

How is your dividend income coming?  Are you working to grow it, like me?  Any good dividend stocks that you like?  Comment below and thanks for reading!

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