January’s dividend income once again showed an increase on last January’s income, by 8.08%. The details of my January dividends are shown in the table below.
This is a lower percentage than some recent months, but as Glaxo didn’t increase their dividend from last year and National Grid only increased by 1.5% the increase is better than it could have been. This is mainly by buying some more Glaxo shares in my ISA, but also due to dividend re-investment.
The difference due to re-investment can be seen as I hold National Grid in my SIPP and my ISA, so in my SIPP (where I accumulate the dividends and manually re-invest) the dividend increased by the 1.51%, whereas in my ISA the re-investment gave me an increase of 6.53%.
Once again the power of re-investment creates superior dividend increases even when the base dividend has not had a large increase.