Today I did a small buy with a little bit of extra money I had left over from my Suncor purchase. That little bit of left over cash with the ~$20 of dividends that some of my monthly dividend payers deposited into my account and a deposit of fresh capital of $80 on my part allowed me to buy 6 shares of the BMO Canadian Dividend ETF (ZDV).
I bought them at $18.74 which raises my now 32 shares of ZFV's average cost basis to $18.40. This small purchase adds $0.30 to my monthly dividend income for a total of $3.6 per year of dividend income. It may not seem like much, but its a prime example of how reinvesting dividends into new equity can build up over time. That $3.6 is roughly equivalent to 20minutes of working at minimum wage that I will no longer have to do every year to earn it! Little victories build up to big successes over time.
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