On Friday, I decided to make another move in increasing my passive income. Stock Purchase Round 2!
I purchased the following:
15 shares of O @ $52.80
Realty Income happens to be my favorite REIT. The company coined “The Monthly Dividend Company” has been on my radar since it crossed below the $55 mark. I finally decided to buy a few shares just in case it started to grow higher. If it goes below $52, I will certainly buy more.
The company’s top tenants include Walgreens, FedEx, LA Fitness, Dollar Stores, and more.
To make me even more excited about this purchase, since buying this company on Friday, they have announced a 3.1% increase to its dividend. Realty Income has now increased its dividend for 81 consecutive quarters!
I now own 25 shares of O in my taxable account and 15 shares in my Roth IRA.
The purchase will increase my annual income by $39.42.
Another raise I received in January was from Omega Healthcare Investors (OHI).
OHI just announced an increase of 1.5% to its dividend.
Many people are have concerns about Omega’s ability to keep paying their dividend due to tenant issues. I agree, this is a big concern. If a tenant cannot pay their rent, then this reduces the companies funds from operations (FFO). The less money they collect, the less money they have to pay shareholders and less money to invest in other properties.
Management has a big hurdle in front of them. The company now has a yield of 10.11%, which is out of my comfort zone.
Hopefully, these issues will be resolved sooner rather than later, but for now I will try to enjoy my raise.
The raise has increased my projected annual income from $262.6 to $266.64 for a total of $4.04.
Do you own any of these companies? How do you feel about the recent dividend increase? Please comment below.