I am very new to dividend investing and to investing in general, so I hope you, the readers, follow me on this amazing journey which will have a lot of ups and downs along the way. This is a very exiting time for me. I just brought my first share while only using the dividends I received the previous months.
That's right. I did not use any of my capital to buy more shares of a company. The money that I invested, which you can see in the Trade - Buy tags, are all working for me to receive more money in the form of dividends.
My brokerage account is with Scottrade. They have this program called "Flexible Reinvestment Program". This allows the user to pool all there dividends that they received from the portfolio in one lump sum. What I like about this program than the traditional DRIP, is that I get to pick and choose the company that I want to buy with the dividends I received. This allow me to purchase company's that I feel that are under value and have a high potential for future growth.
Today I received enough divided to make my first purchase.
I brought shares of BP
1 share
