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 August’s post click here.
Welcome back! we’re here to recap yet another month of our dividend income from our Canadian and US stock portfolios.
September is a member of the Canadian-famous “March, June, September, December” quarterly payouts that feature some of the most popular Canadian dividend payers such as ENB.TO, FTS.TO, CU.TO and MFC.TO.
Given the names listed above it comes as no surprise that September was a strong month for us as these are some of our largest holdings!
So let’s get into the numbers:
Dividends Received: $1,521.87
$1,521.87 is our third largest total for 2022! that being said by the end of the year it should end up being our 5th best month as we’re expecting October and December to eclipse this mark. Looking back on our 2021 numbers this actually would have been our largest month – so yet another reminder of the dividend snowball working its magic.
Our top 5 dividend payers were:
1) ENB.TO
2) MFC.TO
3) CU.TO
4) FTS.TO
5) MMM
Now let’s look at year to date:
Dividends Received YTD: $12,061.68
Our $1,521.87 was a 36% growth rate from 2021 and our yearly total for 2022 is already an 11% increase Year-over-Year with 3 whole months to go. Projecting our last 3 months of the year out it looks like we will hit roughly $17,000 for the year I believe (or about $1,400 per month).
Next up is our forward looking 12 month projection:
Dividend Projections: $21,442.61
After passing the $20,000 mark for the first time last month, this month we’ve now passed the $21,000 threshold. We’re going to be slowing down our contributions in October and possibly November to fund our 5 weeks of travel through Europe so this number will likely slow. A family trip is about the best reason I can think of to put our savings on hold for a period of time and we’re very excited for it!
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.
Congrats 🎉💰🙌 for your $1,521.87 in dividends for September! Amazing growth 📈💰 So inspiring, I’m right behind you, just get around 11k$/12k$ this year!