My last dividend income update for 2017.
I love updating the dividend payments and reviewing which companies have increased their dividends. As mentioned earlier in a post, I think dividends are the cat’s pyjamas/pajamas (Canadian/US spelling) because they are like ocean waves. Always regular and consistent.
Here’s my September Dividend Income Update if you want a refresher of what happened last quarter.
Unfortunately (AND THIS IS REALLY EMBARRASSING!!) when I was reviewing my calculations, I was wondering where the additional VXC shares came from (I have about 1500 and then the September spreadsheet shows 2100), it turns out I had a TYPO in my spreadsheet so the real numbers are off by like $300!! So in September, my forward dividend yield wasn’t really at $5700!!
Of course I panicked and started brainstorming what I could buy to make it close to $6000 because I was so
over confident that I would be able to FINALLY get $6000 in dividends (forward yield) for 2017. Especially since I mentioned in my 2017 personal finance goals, that I wanted to have $6000 dividend income annually. I have not achieved this goal for the past two years even though I said I wanted to.
I used to be obsessed with dividends and my asset allocation was completely off (and hence my portfolio suffered) so now I focus a bit more on growth rather than dividend income. It was one of the biggest investing mistakes in my 20’s. However, I still would like to focus a bit on dividend income, because dividends are just so great.
So in my panic buying phase, I still tried to drum up $6000 annual yield and I went on a big buying spree. I eventually bought shares of Power Financial Corporation (POW.TO). Ironically it holds Investor’s Group which was the initial company that propelled me to do DIY investing. Power Financial Corporation owning Investor’s Group is what led me to be hesitant with investing in Power Financial in the first place. I had a terrible experience investing my money in Investor’s Group mutual funds- my returns were so poor, and the ‘financial advisers’ over there tried to pressure me to use leverage and borrow money from them. I also felt that the Investor’s Group financial adversers’ sales tactics were not very transparent. Power Financial is a huge conglomerate and they also own Wealthsimple which is one of the biggest roboadvisors out there.
I also bought more Annaly Capital REIT (NLY). I have about 3% of my investment portfolio in REITs.
I was super active this quarter, here are the changes I made with my dividend portfolio.
dividend changes since last update
- I sold off some VTI so I would have more US dollars available and then I bought another 100 shares of Annaly Capital REIT (NLY)
- I bought shares of Altria (MO) which has a dividend yield of a little over 4%.
- I added another 11 shares of Sunlife (SLF.TO) and it increased their dividend from $0.435 to $0.455
- Fortis (FTS.TO) increased their divided to $0.425 from $0.40 a share. I also added more shares of Fortis.
- I added another 11 shares of Bank of Montreal (BMO.TO) since last update AND they increased their dividend from $0.90 per quarter to $0.93 per quarter. I get a whole extra $13 per year for doing nothing except for holding BMO!
- Telus (T.TO) posted strong profits and hence increased their dividend AGAIN from from $0.492 to $0.505 a share, another 2.5% increase from last quarter
- As mentioned, I bought some Power Financial Corporation (POW.TO)
- I also added to the VXC.TO position (no where near 2100 shares though lol).
- Riocan REIT (REI.UN) recently announced an increase to $0.12 from $0.11 per month.
- Keg Royalties Income Fund KEG.UN announced an increase of 3.1% from $0.091 to $0.0946 per month.
Here’s my December 2017 Dividend Income Update- thank goodness I made the $6000 annual dividend income:
I didn’t change the graphic above to reflect the increase in BMO dividends (too lazy of me!) but I did update the spreadsheet screenshot 🙂
If you’re interested in getting your own dividend income spreadsheet tracker (similar to the one that I use above), sign up for blog updates and a free download here.
Until next quarter!
Readers, how is your dividend income coming along this quarter? What is your approximate average yield (and do you have a target yield)?