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 January’s post click here.
As you’ll notice we’ve skipped a month of updates here as February was a little bit overwhelming adjusting to a new working schedule and also managed to fit in some family travel time. While we won’t be providing an update for February itself we will tally up those results for the year-to-date values.
As for March 2023, well March is always a very good month for us – and most Canadiana dividend investors.
Something that I’ve been noticing over the last year or so has been that I no longer feel as compelled to check in on my portfolio daily. I do still love to check in on the markets, look at our portfolio and all the news surrounding it but thanks to the market turmoil since the pandemic we’ve had the opportunity to find out which holdings we don’t have full conviction in and weeded those out.
Now, let’s get into some numbers:
Dividends Received: $1,648.29
Courtesy: Wealthica.com
$1,648.29 is a new March record for us and broke last years’ number by 28%! I know I say it nearly every month, but I genuinely am surprised that as each year passes we’ve been able to maintain such strong growth. A good bit of the growth has been organic dividend growth through raises from the companies but we also earn quite well and have continued to focus on pumping any spare money we have into the markets.
Now, with 2 children costing us more money, working less overtime and with other rising needs on our budget like college fund planning our contributions will slowly drop off from what they once were but that’s no excuse in our minds to stop aggressively funding what will eventually become our “freedom fund”.
Now let’s look at year-to-date figures:
Dividends Received YTD: $4,854.33
While we’ve got this up I will take a moment to highlight February’s number first. February was not the most impressive total at “just” $990.74 but was still an incredible 64% growth from 2022 and puts us easily within reach of a 4-figure month next year.
As for March, the 28% growth to $1,648.29 helped power us to a first quarter dividend income of $4,854.33 which keeps us on pace for a $20,000 year. Now, about a year ago we were also on pace for a $20,000 year but that dropped back quite significantly when we made some adjustments to our portfolio to put a little extra emphasis on quality and growth vs. income seeking. It’s great to be trending back above the number again.
Now, for a 12 month rolling projection:
Dividend Projections: $19,927.05
With only $73 to get above the $20,000 yearly projection it’s inevitable we get there likely within a month from regular contributions and then of course we expect between 5-10% raises from most of our holdings so by years end this number should look significantly different without having to do anything special on our end.
That is where we’ll leave off for this month, if you have any questions or comments feel free to reach out on our social media pages:
TWITTER: @FindependenceC1
INSTAGRAM: @FindependenceCanada
Thanks for stopping by,
FIC.