If you're a dividend investor, you probably came across the Dividend Meter. It's a great way to start, you even get 7 days free trial. Worth the 7 USD per month to get you started. I searched long and hard to find an aggregate tool with all the necessary data / metrics, but found none. From that perspective, credit to the Dividend meter creators.
At the same time, you might realize, that if you're starting with a small portfolio, that is going to make you say 20 USD in dividends per month, you will give a big chunk of it away for a data feed - Dividend meter.
When is dividend meter worth it?
You work out your own criteria. Maybe someone is prepared to pay all his earned dividends for analysis, so that you can build a better portfolio for a bigger return in the future. Maybe another someone doesn't want to give 50% of his dividend earnings for a data feed.
Dividend meter is worth it...:
- if you don't mind paying a bigger chunk of your dividend income towards an analysis tool to improve your decisions for a better dividend income in the future
- if you already earn enough in monthly dividends to cover the monthly Dividend meter cost
- if you want a ready made solution and don't know how you make your own one
Is there an alternative do Dividend meter?
Well, as of today, there is. I have created a starter version that you can copy and use for free here. It uses Google Finance formula for most metrics and a free Tipranks portfolio data export to fill in some remaining ones.
Who is it good for?
It's good if you:
- don't need data feed for "Dividend Growth Rate (Year-over-Year)" as Google Finance doesn't provide that. This means that you can't calculate a "Dividend discount model" price.
- prefer free than paid data :)
- prefer faster data load
How to start using it
- open the FREE Dividend Meter
- click on File>Save as and save into your Google Drive
- follow instructions on the first tab
Feel free to improve it as you find useful - and if you do, share it with us in the comments section - thanks!
Thanks to the authors of the original Dividend Meter and also to Jason Fieber @ www.mrfreeat33.com for inspiration and lots of good advice. Check out his books too: