November 2021 Dividend Income Report

Hey, look at that. I am doing the monthly dividend income report at a more reasonable time compared to the previous months. Hoping this is a new beginning where I am much better at doing these. I wouldn’t bet on it just yet, not until I can string a few months together. 

Let’s take a look at how November was, a total of $54.84 in dividends from 10 different companies.

No dividend decreases from the last time around. I am comparing it against the August 2021 dividends since that is how the quarterly cycles work out. Definitely good news.

To make this better there were 3 dividend increases.

Verizon dividend increased by a tiny smidge over 2%. Dividend per share went from $0.627 to $0.64 per share.

Texas Instruments by a whopping 12.7%. It was $1.02 in August and November was $1.15.

And finally, Sirius XM dividend increased from $0.015 to $0.022 for an increase of 47%.

General Mills (GIS) – $1.53

Verizon (VZ) – $2.56

AT&T (T) – $23.92

CVS Health (CVS) – $7.00

Apple (AAPL) – $0.88

Texas Instruments (TXN) – $1.15

AbbVie (ABBV) – $16.90

Citibank (C) – $0.51

Sirius XM (SIRI) – $0.26

Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) – $0.13

How to Find your Wells Fargo Routing number

Knowing your Wells Fargo routing number will come in handy and is probably an absolute must when you are trying to automate your finances. Your Wells Fargo routing number is based on where you opened your account and what type of transaction you are making.

Wells Fargo Routing number by state

What is a Routing Number?

A routing number is a nine-digit code that is assigned to a bank or financial institution. The routing number system for banks was created in 1910 by the American bankers association (ABA). It was created to show which branch of the bank was responsible for paying a check written by a customer. It is used to process checks and make transactions.

A Routing number is referred to by a few different names but they all pretty much mean the same thing. The few different names are ABA Routing Number, Transit Number, ABA Number, Routing transit number, bank routing number.

Where to find your Routing Number

You can find your routing number at the bottom left corner of your check, right next to the account number. Most of us don’t have a checkbook anymore or don’t know where it is but there is no need to worry as long as you have signed up for online banking which is something almost all of us have these days. You can easily find your routing number from the account page once you have logged in.

Routing numbers are not exactly a secret and don’t have to be kept confidential. So you can easily find it posted on the bank’s website most of the time.

Image from Bank of America Corporate Website

When is a routing number used

There are going to be several situations where you are going to be asked for your routing number. Here is a few of them

  • For direct deposit from your employer to your bank account.
  • Transferring money between accounts – like transferring money between your checking and savings account.
  • Setting up automatic payment of bills from your bank account.
  • For direct deposit for tax returns
  • Making wire transfers

Routing Number Format

A routing number is a 9 digit unique code to each financial institution but is there any meaning to it? Does the 9 digit code have any meaning? It is broken down into four components actually.

The first two digits indicate the type of financial institution.

The second two digits indicate the Federal reserve bank district branch.

The next four digits show the financial institution where the checking account is held.

The last one digit shows the single check number

Can a bank have more than one routing number?

Yes, a bank can have multiple routing numbers. Routing numbers can differ based on the kind of transaction. The routing number you see on the bottom right corner of your check is the ABA routing number or your checking routing number. This is the routing number you will use if you want to order new checks.

Another routing number that is way more prevalent is the ACH routing number. ACH routing number stands for automated clearing house routing number and it is meant for electronic transactions between financial institutions which are performed by third party clearinghouses. In many cases, I have seen the ACH routing number is the same as the ABA routing number so there is not much to worry about. However, it doesn’t hurt to make sure that they are the same before proceeding with any financial transactions. You can always call your bank to verify this.

On the other hand wire transfers usually have a different routing number. Wire transfers are direct transactions between financial institutions and skip the third party clearinghouse used in ACH transfers. Since the middle man is avoided, these transactions are usually quick and completed within hours. The fast transaction comes at a cost, usually banks charge you upwards of $25 to complete a wire transfer. This should only be reserved for large amounts or transactions that have to be completed in a timely fashion. All this being said, Wire transfers usually have a different routing number from what I have seen. Call your bank to get the right routing number for wire transfers.

How to Find Your Bank of America Routing Number

Knowing your Bank of America routing number will come in handy and is probably an absolute must when you are trying to automate your finances. Your Bank of America is based on where you opened your account and what type of transaction you are making.

Bank of America Routing number by state

What is a Routing Number?

A routing number is a nine digit code that is assigned to a bank or financial institution. The routing number system for banks was created in 1910 by the American bankers association (ABA). It was created to show which branch of the bank was responsible for paying a check written by a customer. It is used to process checks and make transactions.

A Routing number is referred to by a few different names but they all pretty much mean the same thing. The few different names are ABA Routing Number, Transit Number, ABA Number, Routing transit number, bank routing number.

Where to find your Routing Number

You can find your routing number at the bottom left corner of your check, right next to the account number. Most of us don’t have a checkbook anymore or don’t know where it is but there is no need to worry as long as you have signed up for online banking which is something almost all of us have these days.. You can easily find your routing number from the account page once you have logged in.

Routing numbers are not exactly a secret and don’t have to be kept confidential. So you can easily find it posted on the bank’s website most of the time.

Image from Bank of America Corporate Website

When is a routing number used

There are going to be several situations where you are going to be asked for your routing number. Here is a few of them

  • For direct deposit from your employer to your bank account.
  • Transferring money between accounts – like transferring money between your checking and savings account.
  • Setting up automatic payment of bills from your bank account.
  • For direct deposit for tax returns
  • Making wire transfers

Routing Number Format

A routing number is a 9 digit unique code to each financial institution but is there any meaning to it? Does the 9 digit code have any meaning? It is broken down by four components actually.

The first two digits indicate the type of financial institution.

The second two digits indicate the Federal reserve bank district branch.

The next four digits show the financial institution where the checking account is held.

The last one digit shows the single check number

Can a bank have more than one routing number?

Yes, a bank can have multiple routing numbers. Routing numbers can differ based on the kind of transaction. The routing number you see on the bottom right corner of your check is the ABA routing number or your checking routing number. This is the routing number you will use if you want to order new checks.

Another routing number that is way more prevalent is the ACH routing number. ACH routing number stands for automated clearing house routing number and it is meant for electronic transactions between financial institutions which are performed by third party clearinghouses. In many cases, I have seen the ACH routing number is the same as the ABA routing number so there is not much to worry about. However, it doesn’t hurt to make sure that they are the same before proceeding with any financial transactions. You can always call your bank to verify this.

On the other hand wire transfers usually have a different routing number. Wire transfers are direct transactions between financial institutions and skips the third party clearinghouse used in ACH transfers. Since the middle man is avoided, these transactions are usually quick and completed within hours. The fast transaction comes at a cost, usually banks charge you upwards of $25 to complete a wire transfer. This should only be reserved for large amounts or transactions that have to be completed in a timely fashion. All this being said, Wire transfers usually have a different routing number from what I have seen. Call your bank to get the right routing number for wire transfers.

October 2021 Dividend Income Report

I am getting to this pretty early in the month compared to my usual timeframe. I think I posted the September income report like a week ago. It’s one of the better months of dividend income and definitely a big upgrade to the September numbers. A total of $66.42 in dividends from 11 different companies.

There was only one dividend increase, Altria raised its dividend by 4.65% from $0.86 to $0.90 per share.

Iron Mountain (IRM) – $9.90

Seagate Technology (STX) – $5.36

Altria (MO) – $24.30

Occidental Petroleum (OXY) – $1.05

Franklin Resources (BEN) – $1.96

Cardinal Health (CAH) – $0.49

Medtronic (MDT) – $1.26

Micron (MU) – $1.80

Cisco Systems (CSCO) – $0.37

Annaly Capital Management (NLY)  – $19.80

Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) – $0.13

Previous Months Dividend Income reports

September 2021

August 2021

July 2021

September 2021 Dividend Income Report

It’s early November and I am just getting to the September income report now. I have continued with being late to these.

September was closer to one of the worse months with a total of $37.76 in dividends from 16 different companies. Only June was worse than September. There is a good reason for this since most of the companies that paid out dividends in June paid in September as well. 

Dividend increases by 6 companies.

Wells Fargo raised its dividend by 100% from $0.10 to $0.20 per share.

Discover raised its dividend by 13.6% from $0.44 to $0.50 per share.

Target dividend increased by 32.3% making it $0.90 per share; it was $0.68 per share last time around.

A bit over a 2% increase in Walgreens dividend, $0.4675 to $0.4775.

Royal Dutch Shell increased its dividend 37% from $0.35 to $0.48.

Simon property by 7.1% from $1.40 to $1.50 per share.

Wells Fargo (WFC) – $1.00

Invesco (IVZ) – $6.29

Valero (VLO) – $0.98

Discover (DFS) – $0.50

Kinross (KGC) – $0.30

Bath & Body Works (BBWI) – $2.55

Archer-Daniels-Midland (ADM) – $3.33

Exxon Mobil (XOM) – $0.87

Target (TGT) – $3.60

Walgreens (WBA) – $6.21

3M (MMM) – $7.40

Royal Dutch Shell (RDS.A) – $0.48

Kraft Heinz (KHC) – $1.20

Gilead (GILD) – $1.42

Simon Property (SPG) – $1.50

Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) – $0.13

August 2021 Dividend Income Report

Another month has passed and it’s time again to update the monthly dividend income reports. I am making a habit of doing the dividend reports pretty late. I should probably have that as my new year’s resolution. 

August was a worse month than July. A total of $54.83 in dividends from 11 different companies.

No Dividend increases or decreases this month. Just the usual fluctuations in the SPHD dividend

General Mills (GIS) – $1.53

Verizon (VZ) – $2.51

AT&T (T) – $23.92

CVS Health (CVS) – $7.00

Texas Instruments (TXN) – $1.02

Apple (AAPL) – $0.88

AbbVie (ABBV) – $16.90

Citibank (C) – $0.51

Sirius XM (SIRI) – $0.18

Helmerich & Payne (HP) – $0.25

Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) – $0.13

July 2021 Dividend Income Report

Another month has passed and it’s time again to update the monthly dividend income reports. July was a better month than June with almost double the amount in Dividends. A total of $64.97 in dividends from 12 different companies.

Dividend increases from 3 companies.

Cardinal health raised its dividend by 1% from $0.486 to $0.491 per share. 

Medtronic by 5.8% from $0.58 to $0.63 per share.

Simon property by 7.7% from $1.30 to $1.40 per share. Added bonus with Simon Property is it looks like there will be another dividend increase to $1.50 for the next payout which is scheduled on 09/30/2021.

General electric is not part of the portfolio anymore after the 1 for 8 reverse split that went into effect on August 2nd. I think my brokerage (Robinhood) automatically sold it since I only had 5 shares and it wasn’t enough to form one share after the reverse split. 

Iron Mountain (IRM) – $9.90

Seagate Technology (STX) – $5.36

Altria (MO) – $23.22

Occidental Petroleum (OXY) – $1.05

Franklin Resources (BEN) – $1.96

Cardinal Health (CAH) – $0.49

Medtronic (MDT) – $1.26

Simon Property (SPG) – $1.40

General Electric (GE) – $0.05

Cisco Systems (CSCO) – $0.37

Annaly Capital Management (NLY)  – $19.80

Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) – $0.11

June 2021 Dividend Income Report

It’s almost August and I didn’t do my June dividend income report. Pretty late to the party. June looks like a slower month with $34.80 in dividends from 16 different companies, the lowest haul after I started tracking dividends here. 

Most of these shares were bought more than a year ago. Some of them are closer to 5 years. That was when I was too scared to commit a lot of money to buy shares in one company. So I would usually do onesie-twosie shares and that is pretty clear here with dividends less than a buck from half of the companies in the list below. 

Wells Fargo (WFC) – $0.50

Helmerich & Payne (HP) – $0.25

Invesco (IVZ) – $6.29

Discover Financial Services (DFS) – $0.44

Valero (VLO) – $0.98

Archer-Daniels-Midland (ADM) – $3.33

Exxon Mobil (XOM) – $0.87

Target (TGT) – $2.72

Walgreens (WBA) – $6.08

3M (MMM) – $7.40

Kinross Gold (KGC) – $0.30

L Brands (LB) – $2.55

Royal Dutch Shell (RDS.A) – $0.35

Kraft Heinz (KHC) – $1.20

Gilead Sciences (GILD) – $1.42

2 ETF for Weekly Income

All of us are used to dividend stocks being paid out on a quarterly basis. You need to get creative to have a portfolio with income every month. This led me to look into dividend stocks that pay dividends every month.

I found a few companies that paid dividends every month. Here is my post on 4 companies that pay dividends every month. I didn’t list all of them. Just the ones I liked the most.

The question here is what if monthly dividends are not enough. What are the choices available if you are looking for something that pays a dividend every month?

SoFi has done exactly that by creating two ETFs that pay a dividend every week.

What is SoFi?

SoFi is a relatively new fintech company that specializes in all things money. Their number one priority is to help you get your money right. So you can secure your financial future and live life on your terms. It doesn’t matter what kind of money trouble you have or what kind of money tool you are looking for. They have a solution for you.

Are you looking to consolidate credit card debt? They offer personal loans.

Are you in the market for a new home? They offer mortgages.

Are you looking to get your finances in order? They have SoFi Relay for budgeting.

They have a product for all of your money needs. If they don’t have a tool directly, then they have a partnership that will get the job done.

I first heard about SoFi a few years ago when a friend mentioned about refinancing and consolidating all of their student loan debt. Student loan refinancing was their first product and from there they introduced more products as time went by. They launched Mortgages in 2014 and SoFi invest in 2019.

While sofi has made products like an investing app, they have also dabbled in making some ETFs. They offer 6 ETFs as of now but I am going to look into 2 of them that have dividends paid out every week.

1. SoFi Weekly Income ETF (TGIF)

I can’t think of a better ticker name than TGIF that would suit this ETFs purpose. I couldn’t find any information whether it is named for Thank God it’s Friday but I think it’s safe to assume that’s the case. As the name suggests Dividends are paid out every week on Friday.

This fund invests in investment grade and high yield fixed income securities. That’s a difficult way of saying it invests in corporate debt and junk bonds. It is an actively managed fund with exposure to over 100 different bonds for diversification. Biggest holding as of March 31st 2021 is a Ford corporate debt that expires in April 2023.

Dividend Details

  • Dividend: $0.05
  • Annual Dividend: $2.60
  • Dividend Yield: 2.46%
  • Paid out: Weekly

This is a relatively new offering so there isn’t a long history for dividends. The first date of dividend payment is 10/07/2020.

Expenses

Every Mutual fund and ETF charges a fee to its shareholders to cover operating expenses. TGIF is no different. Since it is an actively managed fund, the fees are a bit higher than usual. TGIF’s expense ratio is 0.59%. That’s $5.90 for every $1000 invested in the fund over a span of the year. 

2. SoFi Weekly Dividend ETF (WKLY)

This is the second one on the list. I like how they have named these ETFs in the most straightforward way possible. This one is even newer than the TGIF ETF. First day of trading was 5/11/2021.

The goal with this is the same in terms of paying out dividends every week but the investments are different. This fund is made up of the most consistent dividend paying companies throughout the world. I couldn’t find a list of the companies they have in their holdings. However they have some stringent criteria for the companies that’s in the fund. Market capitalization of $1 Billion, dividend payout ratio not exceeding 100%, Company has paid dividend the last year and is projected to pay dividend the coming 12 months.

Dividend Details

  • Dividend: $0.02
  • Annual Dividend Payout: $1.04
  • Dividend Yield: 2.07%
  • Paid out: Weekly

Expenses

Expense ratio for WKLY is 0.49%. It is a bit cheaper than TGIF but this is still expensive. The 0.49% expense ratio amounts to $4.90 for every $1000 invested in the fund for a year.

Effective Dividend Yield

The dividend yield you will find by a quick search of TGIF and WKLY shouldn’t be considered as the dividend yield you can expect. You will not see any difference in the payout into your brokerage account but the expense ratio has to be accounted for somewhere since that is a cost to you. 

The way I would look at the effective dividend yield for funds like these is the Dividend yield – Expense ratio.

Should you buy it?

On a high level, there is a quick and easy method you can use to decide this. If you don’t have a lot of money to be well diversified and want to have weekly income, then TGIF and WKLY make a lot of sense for you.

This is a scenario where you are not looking at the dividend yield or the stock movement. A set it and forget mentality that will bring in income.

Now to the nitty gritty- this is the I care less about getting dividends every week. 

WKLY is a diversified fund invested in dividend stocks. The 2% dividend yield is more than the S&P 500 dividend yield which is currently at 1.37%. so it’s definitely not slacking in that area. However, since this fund is invested in dividend stocks. You could look at the fund holdings and pick out individual stocks you want to own. Some of them will have a dividend yield higher than 2%. You can have the ones you want and ignore the ones you think are not good. You will be sacrificing some diversification in the process.

TGIF is a fund invested in corporate debt and high yield junk bonds. The 2.5% dividend yield is good and similar to WKLY is higher than the S&P 500 dividend yield. Again if you are not desperately looking for weekly income, you can pass on this and go for a dividend stock that pays better. Only reason I can think of adding TGIF is for the added diversification. I have no exposure to bonds and TGIF can help with that.

May 2021 Dividend Income Report

Slowing Growing monthly income

It’s the beginning of June so it’s time to take a look at May Dividends. This is my second go around with a monthly dividend income report. Since I just started tracking this my only comparison is the April 2021 dividend income. May is about $20 lower than last month. 

A Total of $54.56 in dividends in May from 9 different companies and 1 ETF.

General Mills (GIS)  – $1.53

AT&T (T) – $23.92

Verizon (VZ) – $2.51

CVS Health (CVS) – $7.00

Apple (AAPL) – $0.88

AbbVie (ABBV) – $16.90

Texas Instruments (TXN) – $1.02

Sirius XM (SIRI) – $0.18

Citigroup (C) – $0.51

Invesco S&P 500 High Dividend Low Volatility ETF (SPHD) – $0.11