Quick update today as I sit at the hospital with Luke! But it's one that I love, especially since Luke is doing better than last week.
I love hearing about dividend increases. Like absolutely love them. There's few things that I like more than getting paid extra just for owning quality companies. This morning Johnson & Johnson announced they were increasing the dividend payout from $0.70 to $0.75. That's a very solid 7.1% increase and the current yield is now right around 3.00%. Since I own 50.213 shares of JNJ this will increase my forward 12-month dividends by $10.04. I don't own nearly enough shares of JNJ and will be looking to add some more shares to my portfolio because I really want to increase my exposure to the health care industry.
The best part about the increase is that I didn't have to do one bit of research and development, or sales, or marketing. All I had to do was have the foresight to invest some of my savings in an excellent company. That's dividend growth investing at work!
Since I own 50.213 shares of JNJ this will increase my forward 12-month dividends by $10.04. Since my portfolio's yield is 2.97% that's like I just invested another $338 in capital. But I didn't have to because one of the companies I own decided to pay me more. That's how you can eventually reach the crossover point where your dividends received exceed your expenses.
Johnson & Johnson was my third holding to announce a dividend increase this month and I expect at least another three and possibly five to announce increases. Two of my holdings have given multiple smaller increases throughout the year but since they are in the oil and gas industry increases might be delayed.
My FI Portfolio's forward 12-month dividends are now at $5,595.64 and including my Loyal3 Portfolio's dividends of $55.48 brings my total forward dividends to $5,651.12.