As dividend growth investors we are focused on generating passive income. And what better way to do that than to share income generated?
May is my biggest month for dividend income so it was a banger. This month I generated $3,273.47 in dividend, interest, and other income across REITs and Stocks. This is in addition to my part-time software job, where I’m not doing too shabby either.
If you aren’t aware, I focus on buying well-managed, higher yielding, yet still growing assets, most of which are REITs and MLPs. There are a few C-Corps that still fit the bill, but they are few and far between, although with the recent downturn, there is good value to be found and I’ve deployed additional cash over the past month to buy some of those issues to get some of the better tax benefits of qualified dividends.
Without further ado, let’s review:
|National Health Investors||NHI||$134.51|
|Enterprise Products Partners||EPD||$244.75|
|MAIN Street Capital||MAIN||$68.06|
|Phillips 66 Partners LP||PSXP||$221.38|
|Magellan Midstream Partners, LP||MMP||$253.79|
|Omega Health Investors||OHI||$232.49|
|Total Dividends & Interest||$1,582.57|
|Total Side Income||$3,273.47|
A number of these positions are worrisome in the current climate.
EPR Properties was the first income stock that I purchased several years ago. Last month I mentioned that with cinemas and Top Golf courses shuttered, I wouldn’t be surprised to see a temporary suspension or cut from this monthly payer. And they confirmed this recently. I initially gave them a pass, but after a bit of background thinking, I swapped it out for a bit more stable quality in Digital Realty Trust.
Main Street Capital is another debt focused REIT as a business development corp. It has risk as well, but its strategy of paying semi-annual special dividends and having cash on hand for those distributions may help them in this situation. I could see them accelerating a move to smooth out those distributions and skip the mid-summer special dividend.
Preferred Apartments has taken a beating as well as fears over rent payments from consumers remains a potential issue. They have however closed purchases on a number of properties amidst the current environment which is either extreme stupidity or confidence in their business.
Pipelines are also somewhat worrisome, but as the economy reopens, and oil starts flowing through, revenue will start to shoot back up. As much as we may want to go green, oil still is a huge factor in transportation. Eventually, I will lower my portfolio’s allocation to oil simply because the secular trend will be to use less as we switch to electric transport. Another reason is that I can’t find that many good oil pipelines that fit my investing criteria in the first place.
I made a decision to suspend blog ads a few months ago as the viewing experience suffers too much. So readers, you’re welcome! 🙂
Finally, there is a non-dividend & interest row. If you don’t know, I have written a book on my dividend growth investing strategy called Too Much Money. Here’s 25% discount to normal price using this link just for being a blog reader.
Overall, over 1,000 readers have benefited from the products and I’m humbled that so many people have decided to part with their hard-earned dollars to help improve their own financial situation! So thank you. Over $1,600 generated in one month is incredible and really motivates me to keep pumping out great content!
I’m not expecting June to be as big of a book earnings month, because I’ve been almost entirely focused time on my newly released dividend investing web application. This has been a stressful affair but hopefully rewarding in helping people cut down the time they need to spend researching stocks. It is available to blog readers at $5/month.
Overall, this was still a great month in lieu of the crazy coronavirus markets! How was your May?