I have 2 separate stock dividend portfolios. Why two? I like different things about the two companies with whom I have brokerage accounts. Also, I secretly hope to surpass the SIPC limit of $500k insurance per account.
Together these 2 portfolios are pulling in $6,244/year or $512/month in dividends.
I don’t automatically reinvest my dividends. I let them pile up and then choose a specific stock to plow them back into when the hit the $300-500 range.
Over the years I have fine tuned my approach to stock buying and portfolio building. Here is a post if you are curious.