Dividends: A Bright Spot In a Bleak Time

| About: Bank of (BAC)

In the midst of all of this financial and stock market turmoil my portfolio is now yielding a whopping 4.8%. This compares with my 4.1% yield on cost (income/price originally paid for equities). That is equivalent to $2,094 per year, or $5.74 per day. This is about 69% more money than we were collecting at this time last year. About 13% of my portfolio holdings are invested in dividend re-investment plans [DRIPs], where the dividends automatically buy more shares quarterly.

With the $700 Billion bailout being announced in the U.S., and confidence in most markets jumped off of a cliff months ago; it is important to note that the largest U.S. retail bank near the epicentre of the crisis, Bank of America (NYSE:BAC) just paid us our $19.68 dividend last Friday. Dividends can remind us sometimes that life goes on despite the bleak news and outlooks.

Also, introducing Dividends Anonymous, finally there's an online refuge for those of us who are addicted to dividends. I've been officially branded a 'dividend addict' over there.