Another month in the bag and another month for us collecting juicy dividend income. I love writing these month dividend updates because I always get so excited tallying up the total dollar amount. It's pretty amazing to know that we're receiving money by owning various businesses and that we're getting paid without having to spend time working actively. This is the beauty of passive income.
Here's a list of stocks that we received dividends in May 2015:
Pure Industrial REIT (AAR.UN)
Bank of Montreal (BMO.TO)
Chorus Aviation (CHR.B)
Corus Entertainment (CJR.B)
Canadian Oil Sand (COS.TO)
Dream Office REIT (D.UN)
Dream Global REIT (DRG.UN)
Energyplus Corp (ERF.TO)
H&R REIT (HR.UN)
General Mills (GIS)
KEG Income Trust (KEG.UN)
Kinder Morgan (KMI)
Liquor Store (LIQ.TO)
National Bank (NA.TO)
Omega Healthcare (OHI)
Procter & Gamble (PG)
RioCan REIT (REI.UN)
Royal Bank (RY.TO)
In May we received a total of $844.52 in dividend! Compared to May of 2014 that's an increase of 10.2%. This is the worst YOY increase so far in 2015, indicating that we might want to start thinking adding more dividend stocks that pay out dividend in Feb, May, Aug, and Nov. Having said that, over $800 in dividend is still pretty awesome. One thing to also consider is that as the dollar amount of our monthly dividend income grows, it becomes increasing more difficult to have a high YOY growth. For example, going from $100 to $200 in monthly dividend is a 100% YOY increase. If that's the monthly average, that means an annual dividend income of $1,200 vs. $2,400. At 3% dividend yield rate, that means a capital injection of $40,000. If you want to achieve a 100% YOY increase from $800 to $1,600 in monthly dividend, at 3% dividend yield, that means a capital injection of $320,000. That's a lot of money and probably not something many of us can achieve.
Just like all dividend growth investors fighting for financial freedom, we hope to one day receive enough dividend income to cover all of our monthly expenses. When dividend income overtakes our expenses, we would be able to follow this kind of daily schedule. 🙂
For now this schedule will be my inspiration to achieve our financial independence goal. Maybe I should print it off and post in my work cubical? But that might result in getting too many questions from my fellow co-workers...
Please note, when it comes to monthly dividend income, we do not differentiate US and Canadian currencies. To keep the math simple, we're using a 1 to 1 currency rate when it comes to dividend income received in US currency.
I feel truly blessed to receive money from a total of 22 companies this month. If you see it from a different perspective, this is like receiving paycheques from 22 different jobs. Having diversified income streams is one of the things we must work on as we journey toward financial independence.
So far this year we've received a total of $3,976.86 in dividend income. This means in the five months in 2015 so far we are averaging $793.11 of dividend income per month. That's a pretty awesome amount of money for doing absolutely nothing!
How as your May dividend income? Did you receive dividend from the same companies as us?