Yes, this is when I discuss my recent purchases and changes to my Drive to 5. I’m working (slowly) to my 5 for the year. The impetus for my Drive originally came from Jason at Dividend Mantra. Just like anything, it took me a few months to understand his philosophy on dividend growth stocks. Originally, I assumed dividend growth stocks were a combination of growth and dividend stocks. As I learned, dividend growth stocks are stocks which reliably grow their dividends.
As I have learned, pay raises are not guaranteed. Even though growing dividends are not guaranteed, a company that is growing its dividends generally tries to continue to grow the dividends. Stopping the growing dividends and/or reducing the dividends generally signals a potential weakness in the underlying business.
Since I last wrote, I have added a few shares of Intel (INTC) and SeaDrill (SDRL). In addition, a few of my positions have increased their dividends (YES! dividend growth investing is actually working for me). Specifically, KMI and O increased their dividends.
I am now earning $129.85 per year in forward dividends, or an increase of 57% from the start of the year. I am still $370.85 away from my goal however.
In order to help push along my dividends for the year, to try to hit my 5, I am working more in the field (at my day job) in a position that pays a ‘hazard’ pay of $5/hr. I realize this isn’t much, but it’s something. I plan to use all of that money as ‘bonus’ investments.
Disclosure: Long INTC, SDRL, KMI, O