**RECORD DIVIDEND MONTH: $352.52 dollars
The time has come to update the Financial Independence Fund (NYSE:FIF) once again as we start to approach another month.
The Financial Independence Fund is the name of my portfolio that will transform me into an independent citizen in a few more decades through dividend reinvesting and dividend increases.
May 2016 has been a busy month and it has flashed by. I was able to take a 5-day vacation in Costa Rica, however, while on vacation I received upwards of $350 dollars in dividends and picked up some new companies. Moreover, this month was the first month my account balance reach upwards of $63,500 dollars. It goes to show how dividend re-investment, new purchases and the power of the market really works favorably and to your advantage.
Overall, May 2016 has been a favorable month for the market and in the dividend department. It began sluggish, but quickly recovered with huge gains toward mid-month. Crude oil finally broke 50 dollars per barrel, inflation has remained stable and the US dollar has strengthened.
I made three new purchases this month using some fresh capital from working and dividends. I managed to invest slightly over 1070 dollars which is above my target goal of 1000 dollars.
I added 20 shares of Abbott Laboratories (NYSE:ABT) to my portfolio and 7 shares of Royal Dutch Shell Class B shares (NYSE:RDS.B) and 3 shares of Southside Bancshares Inc (NASDAQ:SBSI). All three companies have great fundamentals, nice yields and a proven track record of dividend increases.
The current market value of the Financial Independence Fund now stands at $63,959. This is a nice increase from last month of $61,872 This 3.26 percent increase since last month is due to fresh capital allocation which I used to purchase shares mentioned above in addition to capital appreciation.
I'm invested in 38 positions. (Added 3 stocks this month)
The dividend income generated from the Financial Independent Fund was 352.52 dollars. It was a record month!! It was re-invested this month into more dividend paying stocks.
Forward dividend income from purchases this month:
$12.50 per quarter
Full Disclosure: Long ABT,SBSI,RDS.B
Any additions to your portfolio?
photo credit: myself
Disclosure: I am/we are long ABT,RDS.B, SBSI.
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