Dividend Goal #1 is derived by the Ontario Minimum Wage ($11.40/hr) x Minimum Full Time Hours (30) x 52 Weeks = $17,784.
An exciting milestone has been reached as my Bristol Meyers Squibb BMY Puts were assigned on Friday, December 16 and today I purchased some Toronto Dominion Bank (TD). Together these two stocks helped me achieve a yearly dividend (currency considered at par value) of $18,039.86794. This has broken through Dividend Goal #1 of receiving $17,784 by $255.86794.
Goal #2 is an increase of working hours to 37.5 taking the target to $22,230. Another $4,446-$255.8679= $4,190.13 to go.
However, this may be a temporary situation as retention of these two positions will be fluid. BMY was assigned last Friday and is currently underwater. I will hold on until profitability has been achieved and will hold until another opportunity is presented for a US stock. Though BMY seems to be a good hold as it helps round out my portfolio on the bio/pharma side and a slight +2.6315% +$0.01 dividend increase is coming up.
TD is an effort to utilize Covered Call writing. However, I am buying now close to the 52 week high, which was reached on today's intraday price $67.21. I sold it back in 2014 at $51.80. Totally should have held on and the dividend has increased since then.
US markets are blowing through all time highs and reaching DOW 20K... Nervous. TSX has been doing quite well.
keep up the good work. i enjoy reading your posts! im on a similar ride as well, our portfolios are very similar in value and approach.
ReplyDeleteThanks for reading! Hope the New Year brings you good fortune!
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