Monthly Income With Dividends In November 2025

Hi readers, 👋

Welcome to this little November wrap-up.

As usual, I will give you a brief update on the last few weeks, especially regarding my retirement depot.

So let’s get right into it.

What’s new

I need to pat myself on the back. My decision last month to sell my shares in Alexandria Real Estate Equities due to an impending dividend cut was spot on. They just slashed the payout by nearly half, and the stock is still sinking. The company just slashed the payout by nearly half, and the stock is still sinking.

The core reason I still find this company interesting despite its current troubles is its unique business model: Alexandria Real Estate is a highly specialized REIT that focuses entirely on mission-critical laboratory and office space for the life science industry. Think wet labs and complex R&D facilities. This niche with a focus on clusters creates a high barrier to entry and leads to “sticky” tenants. Once a biotech firm invests millions in custom labs, it isn’t moving. And the management did an excellent work in the past. They concentrated their portfolio in “mega-clusters” like Cambridge and San Diego, creating a network effect that locks tenants in.

However, life sometimes is cruel. less. And with regard to Alexandria Real Estate, the management had to cut the dividend from $ 1.24 to a projected $ 0.72, simply to save the balance sheet. The company is facing one major headwind that is declining tenant demand. My expectation was that this is only a temporary issue. Normally, I would simply take the dip and stick to my investment thesis. But sometimes, there is nothing to gain when all signs indicate that the investment thesis no longer holds. This appears to be the case with Alexandria Real Estate.

I’m still watching the company and the business development, but I’m waiting for the market to signal stability.

Apart from the obvious players like Nvidia, Broadcom, Alphabet, or Microsoft, Salesforce is my AI bet. Salesforce is fully betting on the AI transformation of the CRM market. Key products like Agentforce and Data 360 are the real growth drivers. The ARR of these AI solutions alone has grown explosively by 114% in the quarter. And this is for two reasons that are deeply rooted in the business model:

• The heart of every AI is the data set. Salesforce holds the central customer data (CRM) of the world’s largest companies. For an AI designed to automate processes, this first-party data set is worth gold. Hardly any other company has this direct, trustworthy access to the true customer relationships.
• New AI applications, such as Einstein Copilot, are directly embedded into a company’s mission-critical infrastructure. If a company runs its entire sales, service, or internal communication through Salesforce and Slack, it cannot simply replace Salesforce’s AI functions with a startup. The cost and complexity of switching are astronomically high. Salesforce uses this Vendor Lock-in to inject its AI products directly into the core of business processes.

I expect Salesforce to be able to increase profits by at least 7.5 % to 10 % until the 2030s. With an adjusted P/E ratio below 25, the stock is currently extremely cheap.

Overall, there appears to be a small sell-off in tech stocks again at the moment, at least as of December. What we are seeing looks like a fairly typical rotation, with capital moving away from tech and into more conservative names. Pepsi and Johnson & Johnson are good examples. Johnson & Johnson, in particular, has been performing well. The dividend king’s share price is slowly but steadily reaching new highs, supported by several recent approvals and renewed hopes for better growth momentum.

From my dividend-focused perspective, however, the stock is becoming increasingly unattractive. The dividend yield is now below 2.5 %. At the same time, the pace of dividend increases leaves room for improvement for a dividend stock with such a low starting yield:

• 2022: 6.60 %
• 2023: 5.30 %
• 2024: 4.20 %
• 2025: 4.80 %

Johnson & Johnson usually raises its dividend in April. I hope that next year’s increase will be somewhat higher and at least reach the high single-digit percentage range.

There is also another angle.

A few years ago, I decided to focus a bit more on total return without putting my dividend income streams at risk. With an annual performance of around 11 % to 12 % per year since 2017 and steadily rising dividends, I am generally very satisfied with the overall result.

That said, I nonetheless believe that stocks like Johnson & Johnson tend to destroy long-term performance rather than enhance it. I have held the stock for more than five years, and it has delivered an average annual return of only around 9 %. That is clearly below average. Without the strong performance of the past few months, the result would have been even weaker.

Five years is not an extremely long time horizon, of course. Johnson & Johnson also serves as an anchor in the portfolio, providing reliable cash flow and showing much lower volatility than many other stocks, especially in turbulent market phases. From a psychological perspective, this stability should not be underestimated, even though, in strictly rational and performance-driven terms, such positions may appear suboptimal when considering the overall performance over a long-term horizon.

My monthly income with dividends in November:

My investment approach is simple and consists of three pillars:

• Active income.
• Passive income.
• Conversion.

Dividends fall into the last two categories. They are passive because they provide a cash flow without the need to go to work. Additionally, they are an essential pillar for conversion since they can be reinvested to generate even more income in the future. That is the Theory. Now, let’s get down to practice.

This month, my cash-flow approach generated the following income through dividends:

So overall:

• the total monthly income with dividends in November (after taxes) was: € 715.81 / appr. $ 840
• compared to last year, the dividend growth was good (+ 9 % YoY).
• ⌀ monthly dividend income (ttm): € 701.97 € / appr. $ 823
• ⌀ monthly dividend income (ttm) compared to the previous month: + 0.7 %.

Here is the big picture:

The following part is for paid subscribers only. It contains an overview of the stocks I purchased in October and some more portfolio details.

Since this report contains valuable/personal insights, I want to restrict access to paying subscribers only. I invest a lot of time and effort into writing these pieces.

So if my work is worth the price of a coffee to you, it would go a long way in keeping me motivated and providing even more insights! ☕️

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Best,