GYM December 2017 Dividend Income Update

December 2017 Dividend Income Report

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:

December 2017 Dividend Income Update

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)?

About genymoney

GYM is a 30 something millennial interested in achieving financial freedom through disciplined saving, investing, and living a minimalist lifestyle.

32 comments on “GYM December 2017 Dividend Income Update

  1. Hey GYM!

    Glad to hear you made the $6,000, that’s awesome!

    I myself only recently started investing larger sums in the market, and am mostly focused on capital growth right now. But in the future I would expect to shift that focus more into income.

  2. Hi GYM congrats on the $6000 in dividends Nice !
    In my opinion dividend income is the best passive income, every month/quarter you keep seeing the money role in.

    • @Steve- Thanks Steve! Oh gosh, I LOVE dividend income. It is purely passive. Rental property is not as good IMO. Just yesterday the downstairs neighbour had to deal with a plugged up sink (someone was putting bones in the garburator). He’s an owner but I imaging if I was a landlord and having to deal with that call, it would be such a headache.

  3. Hey GYM!

    Nice!! Congrats with reaching your goal of $6k!! I should take a look at what my dividends are, but mine are peanuts compared to what you’re getting. I think my highest dividend yield is probably Manulife or TD stock. Other than that, my div. yield is pretty low.

    But I will be shifting towards passive rather than growth in the future. It’s always nice to get paid for doing nothing… it’s like the ocean waves 😉

    Again, fantastic job w/ your div portfolio!
    fin$avvypanda @ finsavvypanda.com recently posted…10 Ways to Develop a Rich Mindset for 2018! — #10 is Mind-Blowing!My Profile

    • @finsavvypanda- Thanks girl! If you are mainly in ETFs then dividend yield is lower. It’s so hard to focus on ETFs when the sweet sweet sound of dividends calls your name. haha.

    • @Kris- It was a whole day of PANIC Kris. My husband had to deal with me in my panic mode- “what should I buy!! I am not at $6000 yet!!”

    • @Revanche- Thanks Revanche! That would be a good goal! If you have a lot of capital do deploy that would be a good goal. I haven’t collected $6000 this year, only around $4000+, am including this figure as a forward looking yield.

  4. Congrats on reaching your goal! I’ve been there before and have fat fingered a number for sure; however, the amount wasn’t that large! But I love how you put your head down, focused, and made it happen. Kudos to you for hitting the $6,000 mark. Keep up the great work and Im sure you are already looking ahead towards $7,000.

    Bert

    • @Dividend Diplomants- Thanks Bert! Means a lot coming from you guys, you guys are the Dividend Kings! Thanks, I am haha, in fact, that’s my next goal.

    • @Damn Millennial- Yeah I know hah. Some of them I bought a long time ago, right after the crash, and have only recently been adding to the positions. They are companies that have been paying consistent dividends (and consistently increasing them) for a very long time. I don’t usually buy new companies, with the exception of POW recently and MO. However, not all are doing well. For example, Husky dropped their dividend to zero and I am still holding. They may reinstate their dividend in 2018 though.

  5. Hi GYM, Nice update and happy for your cash rolling in. We are similar in that I used to focus more on dividend yield. I got burned by a couple high yielders cutting their dividends so I focus a bit more on lower yielding stocks with better dividend growth potential. My dividend stock portfolio forward yield is 3.3% and I estimate the portfolios yield will grow about 5% annually from dividend increases. Slow and steady wins the race! Tom
    Tom @ Dividends Diversify recently posted…I’d Like to Introduce You to the JohnsonsMy Profile

    • @Tom- Thanks for visiting Tom! I agree slow and steady wins the race 🙂 (well you’ve already won because you’re retired!)

      • Hi GYM, Let’s say financially independent rather than retired. Both my wife and I still work in second careers since we left the Corporate world. She’s a full time academic librarian. I teach accounting courses in a graduate business program at a local University. It is part time, but teaching is harder work than most people think. There is a lot of prep work that goes into designing, developing and running good classes. No complaints here. It’s all good. Tom
        Tom @ Dividends Diversify recently posted…I’d Like to Introduce You to the JohnsonsMy Profile

        • @Tom- That sounds fun! Less stress and something that you enjoy, and are giving back- students are learning from you. Part-time in my opinion is the best way to go and you get the best of both worlds. Intellectual stimulation and socialization with work and also free time 5 days of the week to do what you enjoy and spend time with family.

  6. I don’t have a target yield, but I have a target annual dividend amount that I want to receive. Ideally, I would like to receive $50k and my wife $50k in dividend income per year. If we receive this amount and have no other income, we pay no income taxes. This amount is good enough to sustain our daily lifestyle.

    Overall, I am about 38% there. Another 62% to go.
    Leo T. Ly recently posted…The Right Ways To Time The MarketMy Profile

    • @Leo- That’s a lot, a $100K a year! Is this with a paid off home? Hopefully the government doesn’t change the rules to start taxing dividend income earners who make less than $50K per year in dividend in the future. They have been messing with the small business taxes. I’m impressed you have $38K of annual dividend yield. That’s about what I’m aiming for, but baby steps right? lol.

  7. Congrats on reaching the $6000 mark! It’s so easy to make typos in spreadsheets…everything starts to blur after staring at all those numbers for a few minutes! My current yield is about 5.4%. That’s mainly because I have way too many REITs, but I did buy lots of stocks when they were near 52-week lows so that helped too. The majority of my future purchases will be dividend-growth stocks so my yield will probably drop a bit, but that’s OK.
    Five More Years recently posted…Finally…an Update!My Profile

    • @Five More Years- I think my yield previously was around 5% as well- I had a large allocation in preferred shares when interest rates were going down 🙁 . But I didn’t have that many REITs.

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