Friday, April 15, 2016


Toward the end of March, I sat down and mapped out a stock purchase plan to beef up my dividend portfolio.  I estimated it would take 3 years to come up with the cash to complete all the stock purchases.  However, through a series of fortunate events, I'm happy to report I'm off to a great start and may complete the plan in much less time.

I completed the first two trades on April 5th and will complete two more purchases in next week.  I've already set up cash transfers and put in automatic trades to purchase shares of PDLI, JMP and HWBK.  My list calls for purchasing additional blocks of shares in 17 different stocks.  In the first month, I'll have completed 5 of the 17 purchases.  Just 12 more to go.  However, since progressive purchases are more expensive, it may be much slower going forward.  Still it's encouraging to be over a third of the way through the plan.

I'm adding the additional shares of JMP earlier than anticipated, because I think it will be a very good investment in the long run and it will boost monthly dividend income by about 2% starting in May.  This serves a two fold purpose, decreasing investment costs by buying shares in bigger blocks and boosting monthly cash flow, to reach my goal of increasing annual dividend income by 50% over last year.  Any of the plan purchases will get me closer to reaching this goal, but I'll most likely target monthly dividend payers first, since I get more bang for the buck. 

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