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 September’s post click here.
WHEW! That’s all I can say after the last five weeks.
For those of you that didn’t catch it on our Twitter account, our family of 4 just spent the past 5 weeks touring around England and Spain and let me tell you with 2 small children in tow that is not as relaxing as it sounds!
The touring around was not cheap and as such we weren’t able to make any more deposits into our brokerage accounts but obviously the memories and fun times we had were worth more than anything an investing account can provide.
Now then, let’s get into some numbers here for our October 2022 income:
Dividends Received: $2,427.55
$2,427.55 was our largest total ever for a single month! October topped July by $350 so hopefully we can keep that going every quarter.
The top 5 payers for October were:
1) Altria Group (MO)
2) Bell (BCE.TO)
3) TransCanada (TRP.TO)
4) Bank of Nova Scotia (BNS.TO)
5) CIBC (CM.TO)
This month’s payments would have covered a significant portion of our non-mortgage bills for the month as our phones, subscriptions, car insurance, food and more could be covered by this amount. With a little consistency within a year or two every month will be at this level of income production for us.
Now let’s look at our year to date:
Dividends Received YTD: $14,489.23
This month was an incredible 114% increase over October 2021 which was much larger than what we’d come to expect this year. We’re also now almost 40% higher than our 2021 yearly total as well so the trend is still moving along nicely.
And now for our 12 month rolling projection:
Dividend Projections: $21,531.25
So as we mentioned to kick off, due to our travelling this past month we were unable to add any new money to our accounts and thus our projected income has not increased much at all – just a few reinvested dividends to boost us up about $100.
Based on how I see the end of the year playing out I think we’ll eclipse $22k in forward income but that’s about it for 2022.
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.
Great job, congrats on such a nice increase over last years totals. I’ve been buying lots of Altria in the last three months, the 8+% dividend is just too difficult to pass up! Thanks for sharing!
Yes, I know a lot of people avoid the sin stocks but as purely an investment it has been very good to us over the years!
Not married to the position though and it is one we could look to scale back if the opportunity presents itself.