On February 19th, I added 43 shares of Inter Pipeline Ltd (TSE: IPL) to The Dividend Beginner’s portfolio. I purchased the shares at $23.20, with a trading cost of $6.95 for a total cost basis of $1, 004.55.
Inter Pipeline Ltd pays a monthly dividend of $0.13, or an annual dividend of $1.56. My initial yield on cost works out to 6.72%. I really like monthly dividend paying companies, and am grateful to have the opportunity to add another to my fleet. Considering I’ve purchased 43 shares, IPL adds $67.08 to my annual dividend income, or $5.59 per month. IPL has increased their dividends consecutively for 13 years. In fact, IPL meets all of the Dividend Beginner stock picking criteria. My stake in IPL has increased my 12-month forward annual dividend income from $1, 307.62 to $1, 374.70, an increase of 5.13%. My monthly average dividend income now stands at $114.56.