working towards €1.000 a month in dividend income
During the presentation of 2018 numbers ING announced an increase of their final dividend from €0,43 to €0,44. As a result the annual dividend over 2018 will increase to €0,68.
As a result of this dividend increase my yearly estimated dividend income will increase with €2,00.
ING is the 10th company in which I own stocks who communicated an increase of their dividends.
After the dividend increase the yield on cost of my ING shares will be 6,08%.
ING Group is my 3rd purchase of the month. I bought 50 shares of ING Group against a price of €11,61. I now own 100 shares ING with an average purchase price of €12,75. With this purchase I added €33,50 to my yearly estimated dividend income. My yield on cost of this position in my portfolio is now 5,25%.
ING Groups share price dropped lately due to a €775 million fine regarding having lax policies regarding money laundering and due to being the Dutch bank with the largest exposure to Turkey. ING Group is down 30% this year. The current dividend yield is 5,77% and I decided to add 50 shares against the current price.