5 Best Dividend Trackers for 2023 • Benzinga
If you hold a portfolio for the purpose of generating income from dividend-paying stocks, using dividend trackers can save you a lot of trouble. Trackers take a lot of the work out of calculating your actual returns from dividends. They also help you reinvest any discretionary income you have to earn interest and grow your portfolio faster.
Dividend trackers are especially important for investors with multiple accounts and tax structures. Tracking your 401(k), IRA, business, and brokerage accounts can get tricky. Why waste time double-checking your calculations when a good dividend tracker will do all of this and more?
Here we take a look at some of the best trackers and their notable features. Choose the platforms that best suit your individual investment needs.
Quick overview: the best dividend trackers
1. Shared vision
Sharesight is the best overall dividend tracker app for the general public. If you have a general knowledge of the markets and some experience in monitoring your portfolio, you will feel right at home with Sharesight. The interface balances ease of use with powerful integration and analytics features that help you automate your tracking process smoothly.
The interface here is also extremely attractive. You would never have thought that such a small screen could include so much information so easily, but it does. You can easily track your dividends, even in the most sophisticated portfolios, by comparing them to performance benchmarks and printing professional reports.
Sharesight factors dividends into your annualized total return, so you get an accurate picture of where you really are and also makes it easier to track dividend reinvestment plans (DRP/DRIP). Finally, Sharesight lets you see upcoming dividends that have been announced. Try it for yourself!
Robinhood is one of the most popular trading apps for a reason, and it’s not just the fancy name. This app has made a name for itself by connecting newbie traders to sophisticated strategies with just a few clicks. You get real-time progress on the actions you choose to watch with navigation that’s actually fun to perform. Alerts inform you each time you receive a dividend. This almost makes up for the lack of an automatic dividend reinvestment program (DRIP) as you can instantly buy the stocks you want with the new funds.
You get a dividend history screen that shows you past and future payouts, giving you all the information you need to plan your portfolio. There are no commissions on this platform, so you never have to worry about paying the broker for any errors (and you will make entry errors if you are just starting out).
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When you use Kubera, you can see more than your dividends. You can see all the financial data you’ve accumulated over time, from houses to cars, bank accounts, investment accounts, and more.
You can connect to any of over 20,000 banks using Kubera’s advanced encryption and secure partners, customize your dashboard, and make smart decisions about your finances.
Because the platform values everything for you, you can even see what your car should be worth right now, which helps you decide if you should sell, lease, trade, etc. Additionally, you can set up the “dead man’s switch” which will send the wallet information to your recipient so they can access all of your investments and not worry about missing out on items that should have been left for them. .
Just because you’re an active trader doesn’t mean you shouldn’t have long-term strategies or portfolios. Finbox can help if you like to transfer your daily earnings into less risky buy and hold wallets. You can find stocks that meet the criteria for this portfolio specifically by monitoring their historical data. Add-ons from Google Sheets and other third parties help you easily create financial models.
Finbox is a great tool for traders who don’t want to slow down. As your portfolio changes daily, the real-time feedback that Finbox gives you also adapts to your current situation. Once you’ve invested enough fresh money, you have pending ideas of which dividend-paying stocks to buy for maximized returns.
5. Personal Capital
Personal Capital is the app for you if you need to track a wide range of investments. Whichever investment vehicle you call home, you can link it to the Personal Capital interface and start tracking your entire portfolio progress through one centralized location. Whether you’re in growth career mode or about to retire, Personal Capital makes it easy to customize your layout and move on to basic analytics.
When you connect your dividend accounts to Personal Capital, you can benefit from a full suite of analytical tools, including risk assessment, budgeting and optimization. You can customize tracking for a certain period to explore an important space-time or project for the future.
If you want your dividend hunt to be part of your budget, there’s no better way to do it than through Mint. Mint is a budget app by nature, but it has a great dividend tracker that you can integrate right into your monthly budget. Easily link all your 401(k) accounts to your IRA and Mint will check their performance against the criteria you select.
Mint makes it easy to see how your dividend investments fit in with the rest of your portfolio. If your goal is to save money, you can also optimize your budget to reduce costs. Compare your results to the market benchmark to get an idea of what you should expect from your returns as well. While the dividend tracker isn’t as comprehensive as some of the other picks on this list, it does provide great support for the budget that wants to include dividends as part of the overall plan.
Frequently Asked Questions
How do I track my dividends?
Choose one of the above platforms based on the feature set you are most interested in. You will be guided through a process to connect your dividend bearing accounts. From there, you can more easily track your dividends with the rest of your portfolio.
What is the Dividend Safety Score?
Companies have no legal prerogative to maintain their dividends at a certain level. The only reason companies keep their word on dividends is to maintain investor goodwill. However, some companies may overpromise and be unable to retain a dividend. Others may be more insidious about the process. If so, you need to know. The dividend score is the probability that a company will reduce its dividend. It is based on the company’s history of dividend payouts, dividend cuts, current health and other important factors. If you know a company’s dividend score, you’re more likely to catch it before it cuts off a dividend payment.
Can you live off the dividends?
If your capital is large enough, you can live on dividends. If you want to know how much it should be, divide your target annual income by the percentage of dividends you expect to receive. For example:
I want to make $60,000 a year and I think I can get an average 4% dividend on my favorite dividend paying stocks. 60,000/0.04 = $1.5 million worth of stock I need to hold. Keep in mind this is raw, not clean. Always consider taxes.