I decided to take a plunge and buy a bit more stocks than I planned out this month October 2023.
The funds were in a saving account earning 5% pa paid monthly which was a promotional rate and is now expired and reverted to 3.8%pa.
What I bought is 4 stocks all paying monthly dividends.
MOT $13,991
ETF Involved in providing private finance and capital and pays a monthly divided of 0.9% of it’s current price.
Dividends amounts a gross values and has no franking credits.
MXT $11,989
ETF Also Involved in providing private finance and capital though with a different risk profile and pays a monthly divided of 0.8% of it’s current price.
Dividends amounts a gross values and has no franking credits.
PL8 $7,038
LIC that buys and sells ASX200 stocks at opportune times to maximise dividends.
It pays a gross monthly fully franked dividend of around 0.44% of it’s current price which is a gross amount of 0.63%.
QRI $11,990
Another ETF Involved in providing private finance and capital. QRI focuses on real estate finance and pays a monthly divided of 0.75% of it’s current price.
Dividends amounts a gross values and has no franking credits.
So my current total holding of these 4 stocks and estimated monthly dividends is
MOT $19026 est divs $171
MXT $13,008 est divs $104
PL8 $14,584 est divs $90
QRI $15,110 est divs $113
Monthly paid dividends just from these stock is an estimated $478 bringing me very close to my $500 target and significantly improving from the interest paid from the high interest savings account.