GYM Dividend Income Update September 2017

Dividend Income Update: September 2017

 

Another quarter has passed!  I love updating the dividend payments and reviewing which companies have increased their dividends.  Here’s my June Dividend Income Update if you want a refresher of what happened last quarter.

As mentioned in my 2017 personal finance goals, I wanted to have $6000 dividend income annually.  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 will be nice to eventually build a dividend income portfolio to an certain amount that I can live off of with complete passive income.

When I was reviewing my dividend income spreadsheet with my husband, he reminded me that I didn’t include my TD e-series distributions to date of the year.  They aren’t much but it’s better than nothing.  Therefore, I decided to add in my TD e-series distributions for this year which is just under $300.  I lumped it all together (I have e-series in CDN bonds, US and CDN equities).  Because of this, I’m actually closer to the $6000 annual income goal than I previously thought.

Last update, I said I would buy some more Sunlife (SLF.TO) but I didn’t.  I didn’t end up adding more SLF except through the DRIP where I ended up adding one additional share

NB: I added more Sunlife and BMO since I wrote this post, but just 11 shares each 🙂 (woohoo, I am following through with what I write in my updates!).  This will be reflected in the December 2017 dividend update.

dividend changes since last update

  • National Bank (NA.TO) increased their dividend from $0.56 to $0.58 a share, which represents a 3.6% increase from last quarter
  • I added an additional share of Sunlife (SLF.TO) through DRIP to a total of 108 shares (whoopee!)
  • Fortis (FTS.TO) increased their divided to $0.321 from $0.30 a share, which is a 6.7% increase
  • Bank of Montreal (BMO.TO) increased their dividend from $0.88 to $0.90 a share, which is a 2.3% increase from last quarter
  • Telus (T.TO) increased their dividend from $0.48 to $0.492 a share, a 2.5% increase from last quarter
  • I added an additional 50 shares in Riocan REIT (REI.UN) to a total of 200 shares of Riocan
  • I also added to the VXC.TO position and the VAB.TO position

I really love it when companies increase their dividends, especially the big ones like Bank of Montreal.

When I review from last quarter’s dividend update.  The dividend income increased by $735 and by including the TD e-series this increases the income by over $1000 compared to last quarter.  This is getting closer to the $6000 annual goal, which is nice and encouraging.  I think I might be able to achieve this goal as that means just another $275 in dividend income.  I haven’t been able to achieve this goal for the past 1-2 years so if I achieve this, I will retire and live off my $6000 annual dividend income.  Haha.  Right.

I guess we all have to start somewhere.  It would be nice one day if my dividend income was around $50,000, that would be awesome.

Well, in order to make the target of $6000 annual income in dividend payments, the old me would have jumped at buying Cineplex (CGX.TO) because of the recent plunge in prices and attractive dividend yield of 4.41%.  The new me is more cautious.  Recent earnings were pretty crappy for Cineplex and therefore Cineplex took a huge plunge (I think down 25%).  However, given how movies are accessible easily on Netflix (well a lot of movies anyways), people might not be heading to the theatres that frequently in the future.  So given this cautiousness and hesitancy to take the plunge and buy Cineplex just because I am chasing yield.  Again, I will probably buy a bit more Sunlife (SLF.TO) add to my position, or buy more Annaly Capital Management (NLY) a US REIT since buying US dollars is better now.

Here’s my September 2017 Dividend Income Update:

Readers, how is your dividend income coming along?

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About genymoney

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

16 comments on “GYM Dividend Income Update September 2017

  1. I need to start doing this with my investment accounts. Makes you be aware of how much dividend income your getting from your investments. Double points for creating a spread sheet for it, you are on top of your dividend income GYM!!

    • I’m going to make (actually get my husband to make because I admittedly cannot use Excel for the life of me) a dividend spreadsheet to download… stay tuned!!

  2. Great job! For years I never really paid attention to my dividend income, it was so small anyway. But after reading all the finance blogs over the last few years, I realized I should have focused a lot more on those type of stocks. So I switched some of my investments around, purchased a few income trust, invested in strong but higher dividend paying stock and started a spreadsheet to keep track of it all. I keyed in all my stocks and their original purchase price (and the dividend % at the time of purchase), and each month I record the dividend paid. It is quite motivating. So far this year I have recorded $3600. My goal for next year will probably be $10,000. A big chunk of my retirement fund is in a GRRSP and I don’t get any dividend there:( and can’t transfer until I leave my job.

    • @Caroline- I wasn’t very good at detailing the spreadsheet until much later in my ‘investing timeline’ as well! It’s super motivating to see the dividend increases, almost therapeutic every time you update it right? $10,000K is a good number, maybe I’ll shoot for that too next year! 🙂

        • @Caroline- I think you’ll be able to achieve the $10K annual dividends much easier than me, it was my millennial overconfidence speaking earlier (lol lol). I thought about it and I don’t think I have the capital to invest $100K to get a 4% dividend yield.. unless the recession hits next year and I can buy lots on sale! 😉

  3. Looking at your spreadsheet I have no idea at what I’m looking at lol. Which just goes to show that I have a lot to learn about investments. Building my net worth and investments is definitely on my list of goals. Right now I only have my 401(k). I do want to get a ROTH IRA and we’re still looking for life insurance. Any suggestions for life insurance?

    • @Melanie- Oh maybe I’ll do a post explaining how to use a dividend spreadsheet- you’re on the right track, the first step is wanting to learn about investing! I don’t have any suggestions for life insurance, sorry! I’m in Canada and we probably have different providers.

  4. Great job!

    I appreciate you sharing your report! You’re closing in on $6,000 per year in dividends and that’s an incredible milestone. I’m also a big fan of a lot of the companies you own. I’ve had my eye on Fortis for a very long time. I also own an extremely small position in Riocan that I plan on increasing. I look forward to reading future reports! Keep it up.
    Graham recently posted…View Yourself as a Business to Save MoneyMy Profile

    • @Graham-I love Fortis, one of my faves. Thanks for the encouragement! It took a while for me to reach the $6000, I’ve been gunning for it for a few years now. It’s good to have a few REITs in your portfolio but I try to keep it under 5%. Cool that you’re Canadian too! (I’m assuming! 😀 )

  5. Nice post and update. Dividends are a key part of our retirement as well as non-retirement passive income plan.

    You mentioned that your “…asset allocation was completely off (and hence [your] portfolio suffered) so now [you] focus a bit more on growth rather than dividend income.” Just curious – did you only chase high-yield income stocks and/or have the bulk of your portfolio allocated toward income assets (in general)?

    I’m working on our October update (just reviewed your October as well); here is our’s from September:

    https://www.balanceddividends.com/passive-income-portfolio-september-2017-update/

    Thanks again for the post.

    • @BD Mike- YES I totally did. High yield income stocks. 4-5% was my go-to. I had like 10% of my portfolio in preferred shares when the interest rates were going down (I think I mentioned this in my “Investing Mistakes in my 20’s” post).

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