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Blue Chip DRiP: October Dividend Income Update

Published Mon, 09 Nov 2020 22:55:23 -0500 on Seeking Alpha

Seeking AlphaDividend StrategyBlue Chip DRiP: October Dividend Income UpdateNov. 9, 2020 10:55 PM ET|| Includes: ABBV, AM, BPYU, CAH, CSCO, ET, INGR, IRM, KEY, KO, LAND, LYB, PBCT, PFE, PFF, RDS-B, T, VLO, XOMby: Blue Chip DRiPBlue Chip DRiP Long-term, Dividend Growth, CompoundingSummaryOctober dividend income was down -34% from the previous quarter. Much of this was due to stock liquidations to buy a home, but it still stings.
Five of our holdings announced dividend raises, and we received a combined $443.99 from 12 companies in October.  However, Energy Transfer slashed their dividend, which will set us back.
All-time dividends received are up to $20,771.68 since we began this portfolio in February 2019.
In addition to dividends, we accrued $508 in covered call premiums in October, bringing our 2020 YTD total up to $2,543.
The Pain is Real

October 2020 marks the first month since the inception of this portfolio that we did not increase our dividend income from the previous quarter. This can be attributed to two factors:
A few of our holdings cut/froze their dividends & distributions during the Covid crisis. We liquidated $120k of assets in July to buy our home in cash. It took a few months for these factors to kick in, but now the repercussions to our passive income are coming to roost. We are definitely not out of the woods yet. A few of our Energy and REIT holdings are still in danger of reducing their distributions, and I'm sure a few surprises will pop up from other sectors as well.
It appears the presidential election is finally over. Not without controversy, of course. Regardless of who is in office, which party wins the House majority, or who is "pulling the strings" in government, our investing strategy remains the same. We will continue to place our money into sound companies with solid fundamentals that have a history of taking care of their shareholders. Disciplined saving and prudent investing for long-term gain... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
IRON MOUNTAIN 34.14   28.4 1.20 2.44 7.29
ABBVIE 70.83   26.0 2.72 4.28 6.28
ISHARES S&P US PREFERRED STOCK INDEX FUND 37.21   0.0 0.00 2.08 5.60
AT&T 38.38   16.1 2.38 2.04 5.43
ROYAL DUTCH SHELL B 70.13   0.0 0.00 3.76 5.23
LYONDELLBASELL INDUSTRIES 83.78   8.8 9.53 4.20 4.94
EXXON MOBIL 71.98   17.3 4.15 3.48 4.83
PEOPLE'S UNITED FINANCIAL 16.06   12.3 1.31 0.71 4.52
VALERO ENERGY 83.70   13.8 6.06 3.60 4.41
KEYCORP 18.03   10.7 1.68 0.74 4.08
CARDINAL HEALTH 48.48   10.8 4.51 1.92 4.01
PFIZER 37.28   17.0 2.19 1.44 3.85
INGREDION 82.74   14.5 5.72 2.50 3.07
COCA-COLA 55.11   33.6 1.64 1.60 2.94
CISCO SYSTEMS 49.93   19.2 2.60 1.40 2.85


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