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?