On March 7th, I added 50 shares of Enbridge Income Fund Holdings (TSE: ENF) to The Dividend Beginner’s portfolio. I purchased the shares at $30.01 with a trading cost of $6.95 for a total cost basis of $1,507.45
Enbridge Income Fund Holdings pays a monthly dividend of $0.1555, which adds up to an annual dividend of $1.866. My initial yield on cost works out to 6.22%.
Enbridge Income Fund Holdings adds $93.30 to my annual dividend income, or $7.78 per month. ENF has increased their dividends consecutively for 5 years, off the back of Enbridge (TSE: ENB), who has increased their dividends consecutively for 20+ years.
With the addition of ENF to my stock fleet, I’m closing in very quickly on the minimum $100 monthly dividend payments, and my quarterly payments are now approaching the $200 threshold. And to think, before 2016 I had never received a $100 dividend payment within one month.
|Before raise||Net Increase||After raise|
|Annual Dividend Income||$1,430.90||$93.30||$1,524.20|
|Monthly Dividend Income||$119.24||$7.78||$127.02|