I mean, if you're goal is to have income not appreciation it is what it is. You're not likely to find income generating return that will exceed this with the low amount you have to invest.

You can look at high yield savings accounts but considering att is generating 6% dividend yield its still a greater return albeit smaller than you're hoping for as far as dollar amounts go

At $150 a month it's going to be a long time before the dividends are really a sizable amount.

For example, CLM pays out like $0.13 a share per month and many consider this to be a non sustainable dividend per share.

At their current market value it was take 105 months to gain sufficient shares to make $150 a month in dividend payouts. All of this assumes that those dividends are not eroding the basis of the fund and are sustainable. Which again many people do not believe is the case.

The time frame just gets longer the more reliable the dividend is. For example att which has been a dividend King pays $0.27 cents a share per quarter and trades around 18.50. This extends the time frame to make $150 in dividends a month to 205 months.

It is doable but you're talking long term to see any sizable return at your investment level