Throughout these updates we will go over the previous month’s dividend income, as well as our rolling 12 month projected dividend income and our progress towards our goal of having $50,000 in annual passive income. For reference, I received my first ever dividend payment in December 2017, and I immediately realized that they needed to be a prominent part of our any investment strategy.
If you’re interested in seeing March’s post click here.
So, I’m a little bit late with the April update, but with good reason!
While work has been keeping me busy I’ve also had a 9 month pregnant wife who’s now… not so pregnant as we’ve had our second son! The fun, but forgotten part of having a small baby is the fact that they don’t actually sleep at night… which is great for productivity.
Now, let’s get back on topic and go over the passive income breakdown for the month of April!
April was actually a really great month for us and we never realized it would be quite as good as it ended up being. We’ve always considered March-June-September-December to be our big months but April proved that to be false.
Let’s get into the numbers:
Dividends Received: $1,628.66
This $1,628.66 is actually an all-time high for us, and not by a small margin either as our previous high was $1,228 that we received last month.
This dividend payout is enough to cover most of our food and bills (aside from mortgage) and is rapidly growing due to us investing in dividend aristocrat style stocks.
I think even we underestimated how quickly these payments would compound when adding up our investments, dividend reinvestment as well as dividend growth and it’s truly shocking to see how quick the progress is coming. In a few years time this portfolio will hopefully replace one full time income for our family – that’s the goal anyways.
Now let’s look at year-to-date:
Dividends Received YoY: $4,550.27
At this stage of the game I never imagined we’d see the year over year growth like we’ve seen in January and April 2022, in the early days you expect to have rapid growth but I never saw 50% growth rates happening in the 5th full year of our journey.
Large contributors to this month were the hefty payouts from TRP.TO , BCE.TO, BNS.TO, POW.TO and MO. All of which have become foundational holdings of our portfolio.
Now, let’s have a look at the next 12 months:
Dividend Projection: $17,080.17
Our 12 month dividend projection has gone up a little over $1,000 since last month. This is largely due to the contributions we’ve made as both my wife and I put in above normal contributions over the past month+. We’re slowly drawing down our cash reserves as this year drags on and it’s helped us remain positive in a slow, painful market at the moment.
A stretch goal would still be to get to $20,000 in projected income by year’s end and I think we can do it but we’ll see, as I don’t want to be chasing yields to get there. If this market pullback carries on all year that would be a welcome thing for a younger couple in their accumulation years like we are.
That’s all we’ve got for this month’s recap, if you’ve got questions or comments leave them below or on our social media pages:
TWITTER: @FindependenceC1
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Thanks for stopping by,
FIC.
Oh wow! Congratulations. I had no idea. And amazing dividends. Very well done.
Now you have 1 more creator to raise besides your dividends (and of course your first son)