Dividend payments play different roles in the mind of an investor. For some it is simply a useful return on their investment, adding to the total investment value at the end of the year. For other investors dividends are effectively income and these investors need a monthly dividend calculator to understand what their monthly income will be. Whichever way you look at dividends keep reading for a review of some of the better dividend calculators.
Dividends are usually paid annually but many investors need to calculate a monthly budget based on their dividend income. For this reason, some people need a calculator that can display dividend payments as monthly amounts. Unlike many other apps, dividend calculators are not always universally available across both Android and iOS. We’ll highlight a good example for each platform.
DividendPredictor. For iOS, this clever app lets you enter details of your stock investments and in return see a prediction of your dividend payments based on how the dividends these stocks have previously paid out. You can view your predicted dividend payouts in monthly, quarterly or annual terms and also set up several dividend portfolios, in case some of your investment is for income generation with the remainder invested for growth.
Users like DividendPredictor, scoring it (4.1 / 5) with particular praise for its usefulness as a tool for dividend investors that actively plan their dividend investment strategy. One user also really liked the fact that the app has a section which keeps track of changes in dividend payouts.
Dividends Dashboard. This time for Android, Dividends Dashboard also allows you to enter full details of your investments across stock exchanges around the world. Based on your input Dividend Dashboard will display your dividend payout history, calculating your dividends by your choice of monthly, quarterly or annual tallies. You can also save and restore your portfolio and read a custom news feed based on your investments.
With an average score of (4 / 5) user feedback is positive. Investors say that Dividends Dashboard is a really useful way to keep track of dividend payments, praising the in-depth analyses on offer. There are a couple of concerns about data accuracy however, so you may want to double-check the numbers on Dividends Dashboard just to be sure.
If you’re a growth investor you will mostly be concerned about understanding how much you’ve earned in terms of dividends by the end of the year, and to predict the annual dividend returns for future years. DividendPredictor and Dividends Dashboard will both give you annualized totals. However, there’s one more app you can give a try if you need annual dividend calculations in particular.
Dividend Calc. Only available for iOS devices, Dividend Calc focuses on providing you with an annualized dividend calculation. The app lets you enter your current investment portfolio and provides a prediction of future dividend returns based on the historical dividend payouts for your stocks.
Reviews are positive, with the app scoring an average of (4.1 / 5) though note that it is from just 64 reviewers. Comments include praise for the simplicity of the app, though one user complained about the inability to log fractional share ownership as the app only caters for whole numbers.
Comparing investment performance is an important aspect of managing your investment portfolio. One of the easiest ways to compare investment returns is by the annual yield on an investment, in other words the return on that investment converted into an annual percentage.
The dividend yield on a stock is effectively the dividends paid expressed as a percentage, which you can compare to the percentage returns on other investments such as mutual funds and savings accounts. The apps we highlighted earlier can help you calculate the dividend yield, but sometimes a really simple calculator is all you need:
Investopedia. Known for its back-to-basics investment advice, Investopedia offers plenty of tools including a straight-forward dividend yield calculator. Enter the share price, quarterly dividend and the number of shares you purchased to get a dividend yield.
You can use this yield percentage to decide whether the dividend returns on a stock makes it a worthwhile investment, but remember to also factor in the growth in the value of the stock itself.