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 February’s post click here.
March was a really solid month for our dividend portfolio, the market itself was all over the place but our dividend payers – specifically the Canadian ones were on a tear!
On top of the great returns in terms of capital appreciation March is also a great month for dividend payments as the likes of Enbridge, Fortis, Canadian Utilities etc. all pay out in March.
Without further delay, we’ll get into some numbers now starting with the March’s income:
Dividends Received: $1,228.98
$1,228.98 is actually an all-time high for us! It’s roughly $100 over December 2021 (our previous best) and that’s a trend we hope to keep up every 3 months moving forward by reinvesting these dividends.
In 2021 we managed to eclipse 4 figure months on 7 different occasions so a goal for this year is to get that number up to at least 8 different months, all the while increasing each months income year-over-year.
While this months income wouldn’t pay for our mortgage, what it WOULD pay for would be things like: Netflix, Apple TV, Spotify, Internet, electricity, natural gas, car insurance – all things that are more or less necessity in this house.
Now let’s look at our year-to-date:
Dividends Received YoY: $2,921.61
12% growth from March 2021 is a noticeable slowing of the growth trend in our portfolio but that’s something we’ve been expecting to catch up to us for a while now as our portfolio’s size continues to get further and further detached from monthly contributions. If only we could have kept up the 100% growth rates of the first few years in our portfolio…
A way I like to view the portfolio is since most payers are quarterly I’ll now shift my sights to June 2022 and hope to see at least a couple % growth from this March number, in theory we should be setting new all time high’s every time these quarterly payers come around again.
Now let’s have a look at the projection for the next 12 months:
Dividend Projection: $15,949.42
This 12 month dividend projection is up $1,700 from last months forecast, in large part thanks to some shifting of our funds. We’ve trimmed back a few of our lower yielding stocks in order to continue building up those positions we feel are our core holdings.
We’re also still sitting on some cash from tax returns and yearly bonuses etc. that will slowly trickle into these accounts, a super ambitious goal would be to build this number to $20,000 by year’s end once all of the capital is deployed on top of our regular contributions.
This is the sort of scenario where a market pull back could be great for the long term health of our portfolio, but I’ve given up trying to predict those sorts of things at this point.
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
INSTAGRAM: @FindependenceCanada
Thanks for stopping by,
FIC.