The PayPal Money Market Fund dividend snafu from January was finally corrected on Feb. 7. I received an additional payment of $14.62, which brings my total dividend from last month up to $15.67.
That’s not bad, considering the fact that the 7-day yield has been declining for the past few months. In fact, it dropped once more and now sits at just 3.76% — a far cry from the 5.23% that it was at when I first joined the MMF one year ago.
I would of course love to be earning more than 3.76%, but that’s not gonna happen without putting my money at risk (which I won’t do). I can’t even get a 6-month CD for a better rate, so I guess I’m staying with the MMF for now.