Taking stock of the Dividends received

I have been receiving dividend payouts regularly, quarterly & half-yearly, from my dividend counters (mainly from Singpost, Starhub, Hyflux WaterTrust, First REIT).

As these dividends are deposited into my POSB Saving Account (as maintained with CDP), I usually take these amounts as my cash flow and did not really take note of them.

As my long term plan is to re-invest the dividends received once the amount reach a sufficient level, I'll begin to deposit the dividends received from Jan 2010 onwards to a dedicated Savings Account. This will consolidate the dividends as well as take stock of the amount.

I'm designating my Fairprice Plus Saving Account for this purpose due to the following:
- Higher interest rate than POSB & UOB (0.30% pa for the first $50,000)
- My savings account of POSB, UOB and Citibank are also used for funds transfer, GIRO, credit card bills payment, online trading etc
- Proximity of OCBC ATM & Cash Deposit Machines @Hougang Point which is just across the main road from my HDB block (Fairprice Plus Saving Account is a tie-up between NTUC Fairprice & OCBC and thus one can access the Fairprice Plus Saving Account via OCBC ATM/Cash Deposit Machines)

WIth this consolidation, I hope that I can easily monitor the dividends received and re-invest them at a suitable timing.