Dividend Income – July 2015 update

Thank you for dropping by. It’s time for my favourite post of the month – monthly dividend update. I seem to say this a lot lately but I can’t believe it’s already August! Considering that we spent 2.5 weeks of July on vacation, I suppose it makes sense to feel that July just zoomed by. I really like dividend income for the reason that we are receiving the money regardless of what we’re doing. We can be spending time at our daily jobs, we can be sitting on the beach with a cold beer, or we can be traveling around the world, we receive dividend income by simply owning dividend paying businesses. Receiving dividend income from 1 business is good but it’s even better if you receive dividend income from multiple businesses. The more businesses that you receive dividends from, the more diversified your income is. Think of this way, would you rather receive a deposit of $5,000 each month from 1 source, or would you rather have 20 deposits of $250 from different sources? I think the latter case is preferred because it means that if you lose one income source, it’s not end of the world.

 

Here’s a list of stocks that we received dividends in July 2015:

Agrium Inc. (AGU.TO)
Pure Industrial REIT (AAR.UN)
Bell (BCE)
Bank of Nova Scotia (BNS.TO)
Chorus Aviation (CHR.B)
Corus Entertainment (CJR.B)
Canadian Imperial Bank of Commerce (CM.TO)
Canadian Natural Resources (CNQ)
Dream Office REIT (D.UN)
Dream Global REIT (DRG.UN)
Energyplus Corp (ERF.TO)
General Electric (GE)
H&R REIT (HR.UN)
Husky Energy (HSE.TO)
KEG Income Trust (KEG.UN)
Coca Cola (KO)
Liquor Store (LIQ.TO)
Potash (POT.TO)
Rogers Communications (RCI.B)
RioCan REIT (REI.UN)
Saputo Inc. (SAP.TO)
Telus (T.TO)
TD Canada (TD.TO)
TransCanada Corp (TRP.TO)
Domtar Corp (UFS.TO)

In July we received a total of $975.71 in dividend from 25 companies with $135.56 in US currency and $840.15 in Canadian currency. I’m very excited to report that this is the highest amount that we received so far in 2015! When we look at the YOY increase, July 2015 dividend income is 54.8% increase compared to July 2014. Wow! I’m also extremely pleased to see that we are very close to the big $1,000 dividend income per month milestone. With fresh capital and re-investing dividends, I’m very certain that we will cross this milestone by next July, the real question is by how much. 🙂

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For this dividend income update I have included the US and Canadian breakdown as per readers’ requests. However, the total income amount is calculated by taking a 1 to 1 currency rate approach. In other words, I’m not converting income in US currency back to Canadian dollar. I like doing this because it keeps the math simple and avoids fluctuations in dividend income over time due to change in the currency rate. I do not want to have some inflated income numbers simply because the Canadian dollar is doing poorly and vice versa.

I’m somewhat shocked to see how much dividend income we received in July. At $20 per hour wage, that equates to over 48 hours that I do not have to work for. That’s more than a week worth of regular work hour. If we use the minimum wage of BC, $10.25, that’s over 95 hours that I don’t have to work for. It doesn’t really matter which hourly wage we use to calculate, the bottom line is that the money we received is something we do not have to actively work for. We can instead spend that previous time on something that we truly enjoy, like cooking, traveling, reading, taking photos, or other hobbies of ours.

So far this year we’ve received a total of $5,722.6 in dividend income. Pretty awesome for doing absolutely nothing don’t you agree?

How as your July dividend income?

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53 Comments

  • Reply
    Michelle
    August 10, 2015 at 8:09 am

    Wow that is great! We are working towards increasing our passive income sources, with one of them being dividend income. Can’t wait until we are there.

    • Reply
      Tawcan
      August 10, 2015 at 8:33 am

      Hi Michelle,

      Thanks, it’s an awesome feeling seeing dividend income coming in.

  • Reply
    Huw
    August 10, 2015 at 8:13 am

    Outstanding stuff here Tawcan, well done! Or should I congratulate your 25 employees?

    Brilliant total for the year too. Do you think you’ll hit the $1,000 mark in 2015? You were so close this month.

    All the best
    Huw

    • Reply
      Tawcan
      August 10, 2015 at 8:34 am

      Hi Huw,

      Thanks. I think we might hit the $1,000 mark in 2015 as long as we continue adding new capital. Wait and see I guess.

  • Reply
    Adam @ AdamChudy.com
    August 10, 2015 at 9:34 am

    Great numbers. What’s your weighted average yield annually?

    • Reply
      Tawcan
      August 17, 2015 at 8:00 am

      Hi Adam,

      Our cost on yield is about 4 at this time.

  • Reply
    Fervent Finance
    August 10, 2015 at 9:56 am

    Holy crap! Good work Tawcan. You could probably sell everything and move into an RV at this point, travel North America and be okay. 🙂

    • Reply
      Tawcan
      August 17, 2015 at 8:01 am

      Hi Fervent Finance,

      Thanks, don’t plan on selling our dividend paying machine any time soon.

  • Reply
    Amber Tree
    August 10, 2015 at 11:56 am

    Nice numbers! Almost reaching the 1K dividend income must be a great feeling!

    And the 2015 graph looks really nice as well. Steady growth to a nice monthly paycheck

    • Reply
      Tawcan
      August 17, 2015 at 8:01 am

      Hi Amber Tree,

      Thanks, reaching the 4 digit milestone will be awesome. Looking forward to that milestone.

  • Reply
    divorcedff
    August 10, 2015 at 12:08 pm

    Wow, what a great dividend income!!! , keep the passive income getting bigger each month, and it great to know that you can take 1 week off without worried about the income.

    • Reply
      Tawcan
      August 17, 2015 at 8:01 am

      Hi divorcedff,

      Thanks, that’s why dividend income is so powerful. 🙂

  • Reply
    Roadmap2Retire
    August 10, 2015 at 12:14 pm

    Thats truly fantastic, Tawcan. Congrats on the dividend income! You are so close to the magical $1K per month number – which Im sure you will reach by next quarter or later this year. Keep up the great work!

    R2R

    • Reply
      Tawcan
      August 17, 2015 at 8:02 am

      Hi R2R,

      Thanks, hopefully we’ll reach this milestone by next quarter and being able to achieve 1k per month consistently.

  • Reply
    Mr. Modern Millennial
    August 10, 2015 at 1:10 pm

    Hey Tawcan,

    Welcome to August!! Haha. It sure did sneak up on me, too.

    Looks like you had an incredible month over there. You should feel so accomplished having 25 companies pay for your financial independence and peace of mind. That’s awesome.

    I’m cherishing victories of my own as I get started income investing myself. Although they are small victories, they are victories nonetheless.

    Hope you had a good weekend, and hope August treats you well.

    Til next time,
    Dylan

    • Reply
      Tawcan
      August 17, 2015 at 8:02 am

      Hi Dylan,

      It’s always good to celebrate the small victories. They’re victories nonetheless. We can’t be chasing after the big victories all the time.

  • Reply
    My Own Advisor
    August 10, 2015 at 4:08 pm

    Great numbers and very well done. We hope to hit $1,000 per month average in early 2016. That’s the goal!

    “So far this year we’ve received a total of $5,722.6 in dividend income. Pretty awesome for doing absolutely nothing don’t you agree?’

    Agreed 🙂
    Mark

    • Reply
      Tawcan
      August 17, 2015 at 8:03 am

      Hi Mark,

      Gotta love getting free money for doing nothing.

  • Reply
    Dan @ Our Big Fat Wallet
    August 10, 2015 at 8:36 pm

    Great work, Tawcan. With such a diversified portfolio it looks like the dividends will continue to roll in

    • Reply
      Tawcan
      August 17, 2015 at 8:04 am

      Thanks Dan, your portfolio is looking good too.

  • Reply
    dipu
    August 10, 2015 at 8:46 pm

    Great work Tawcan.

    • Reply
      Tawcan
      August 17, 2015 at 8:04 am

      Thanks dipu.

  • Reply
    Chasing Gains
    August 10, 2015 at 8:54 pm

    $975.71 holy moley :O so close to $1000 per month that’s awesome ! Keep it up 😀

    • Reply
      Tawcan
      August 17, 2015 at 8:05 am

      Thanks Chasing Gains, definitely very close to that magical $1k per month mark.

  • Reply
    Dividend Hustler
    August 10, 2015 at 9:38 pm

    See all the love you get Tawcan. We’re all here to support you on your journey my friend. Let’s keep HUSTLING IT UP! Congrats on the income and best wishes to your family. Take care my friend.

    • Reply
      Tawcan
      August 17, 2015 at 8:08 am

      Hi Dividend Hustler,

      Definitely keep hustling it up!

  • Reply
    Dividend Legion
    August 11, 2015 at 1:18 am

    Hey Tawcan,

    Man, you’re killing it! A 54.8% increase YoY is not something that happens every year, especially when your dividend income is as high as yours – simply astounding. I can’t wait till you hit that coveted target that we all have; the 1,000 £/$/€ milestone. Do you think you’ll reach it this year?

    Keep up the great work!

    • Reply
      Tawcan
      August 17, 2015 at 8:09 am

      Hi Dividend Legion,

      I’m surprised about our YOY increase as well. I think we can make it the $1k per month milestone this year but we’ll have to see.

  • Reply
    Jayson @ Monster Piggy Bank
    August 11, 2015 at 3:32 am

    This is one of my favorite post, Tawcan, where you include your dividend income. I think this is another great month! Congrats!

    • Reply
      Tawcan
      August 17, 2015 at 8:09 am

      Hi Jayson,

      Thanks, very glad to see our dividend income keep rolling in.

  • Reply
    Steve Miller
    August 11, 2015 at 6:55 am

    Congrats on your August dividend total! I recently read an article by retireby40.org that talked about looking at your dividends as a snowball.

    Similar to a debt snowball (where you pay off your smallest debts first then take the money you paying on the smallest and pay that in addition to your normal payment on the next smallest, creating a snowball affect).

    With the dividend snowball, you figure out what smaller monthly expenses you can pay with your dividends so that before long all your monthly expenses are covered by the snowball (and you are then FI).

    I never thought of looking at it that way, but it was encouraging. It got me thinking so I went and figured out my monthly dividend average, it is $2,125, which is pretty good, it covers most of the small bills. The fund that produces the most dividends for me is the Fidelity Contra Fund (FCNTX).

    All the best!

    • Reply
      Tawcan
      August 17, 2015 at 8:10 am

      Hi Steve,

      We’re definitely rolling our dividend snowball and making it bigger and bigger. That’s a pretty awesome monthly dividend average you got there!

  • Reply
    Mrs. Crackin' the Whip
    August 11, 2015 at 9:08 am

    That’s awesome Tawcan!

    • Reply
      Tawcan
      August 17, 2015 at 8:20 am

      Thanks Mrs. Crackin’ the Whip.

  • Reply
    Vawt
    August 11, 2015 at 9:33 am

    That $1,000 mark is within range and will be a great milestone for you. That is an excellent year over year increase!

    • Reply
      Tawcan
      August 17, 2015 at 8:19 am

      Hi Vawt,

      Will be looking forward to hitting the $1k mark.

  • Reply
    Joe
    August 11, 2015 at 11:24 am

    Looking great! With additional investing you’ll make great progress over the next few years. Dividend stocks are getting cheaper now too.
    I like how you convert the dividend to working hours. I should try that too. 🙂

    • Reply
      Tawcan
      August 17, 2015 at 8:19 am

      Hi Joe,

      I like to put thing into perspective and convert dividend to working hours is my way to determining if we’re making progress or not.

  • Reply
    Vivianne
    August 11, 2015 at 1:15 pm

    Wow, the income replace 95 hours is awesome, the magical $1/month is right around the corner. Congrats!

    • Reply
      Tawcan
      August 17, 2015 at 8:18 am

      Hi Vivianne,

      For me it’s always interesting to put the money into time it take to work perspective.

  • Reply
    Dividend Mantra
    August 11, 2015 at 1:30 pm

    Tawcan,

    Impressive results there, my friend. You’re killing it this year. You guys are setting up for a great finish and an even better 2016. Keep it up!

    Best regards.

    • Reply
      Tawcan
      August 17, 2015 at 8:18 am

      Hi Jason,

      Thanks man, you’re killing it on your income and dividend income over there too. Great inspiration.

  • Reply
    TheMoneyMine
    August 11, 2015 at 7:21 pm

    Wow, your income this month is a +50% increase over January?
    Man, this is impressive!

    • Reply
      Tawcan
      August 17, 2015 at 8:17 am

      Hi TheMoneyMine,

      I was shocked to see such YOY increase. Will be interesting to see whether we can hit that kind of impressive YOY increase next year.

    • Reply
      Tawcan
      August 17, 2015 at 8:16 am

      Hi Holly,

      It’s a great idea to start tracking your dividend income to see where you’re at.

  • Reply
    Jason @ Islands of Investing
    August 12, 2015 at 11:09 pm

    Great stuff on the dividend front Tawcan!

    And I just love the Dilbert pic you use for these updates: “I did nothing today and still got paid!” Can’t wait until your singing that every day once those dividends get big enough!

    • Reply
      Tawcan
      August 17, 2015 at 8:16 am

      Hi Jason,

      Haha, I love that picture so much hence for using it on every single dividend update for the last while.

  • Reply
    Weekend Reading - Passive income, net worth, big mistakes, snowbirds and more
    August 13, 2015 at 5:25 pm

    […] is on his way to earning close to $1,000 per month in passive income, a milestone we are striving for within the next year outside RRSP […]

  • Reply
    Geblin
    August 15, 2015 at 4:30 am

    Hi Tawcan,

    Seems you had a great month. Almost 1 000$ for making good decisions in the past and then nothing else is great!

    Have a good weekend.

    Cheers,
    Geblin

    • Reply
      Tawcan
      August 17, 2015 at 8:13 am

      Hi Geblin,

      Thanks, hard to say no to this kind of income that requires no work at all.

  • Reply
    Dividend Clockwork
    August 15, 2015 at 2:58 pm

    Tawcan,

    Just keep on chopping that tree. You will surpass that $1k mark in no time!

    DC

  • Reply
    Dividend Income Stocks
    August 19, 2015 at 4:14 pm

    Awesome month on dividend earnings. Your past work that you did once (click on Buy button) is now greatly rewarded. I’m sure your gonna surpass your $1,000 monthly dividend milestone in no time.

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