Dividend income – April 2015 update

It’s that time of the month where we tally our monthly dividend income. Because we’re enrolled in DRIP for many of our positions, the dividends do not get recorded until much later, hence for not providing the update at beginning of the month.

April was a very successful month when it comes to dividend income. We received dividend income from 23 companies. To be perfectly honest, because we are enrolled in DRIP, sometimes I do not even realize that we own some of these companies. We just leave these stocks on auto-pilot control and allow the dividends to DRIP and compound themselves. It may sound shocking to you but I think companies like BNS, RioCan, Telus, Johnson and Johnson, Proctor & Gamble all fall under this “buy and put on auto-pilot” category.

 

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

Pure Industrial REIT (AAR.UN)
BCE (BCE.TO)
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.TO)
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)
Omega Healthcare (OMI)
Rogers Communications (RCI.B)
RioCan REIT (REI.UN)
Telus (T.TO)
TD (TD.TO)
TransCanada Corp (TRP.TO)

In April we received a total of $866.32 in dividend! Compared to April of 2014 that’s an increase of 43.3%. I know we’ve increased our dividend income quite a bit since last year but I was shocked to see such high YOY increase, especially considering I was only expecting roughly $800 in dividend income for April! The power of compound interest is definitely taking affect and our dividend snowball is getting bigger and bigger as it rolls down the hill.

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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. This may not be accurate but it keeps life simple.

So far this year we’ve received a total of $3,132.34 in dividend income. This means in the four months in 2015 so far we are averaging $783.08 of dividend income per month. To put that in perspective, if we had a minimum wage job here in BC that pays $10.25 per hour, this means our dividend income has saved us 76 hours of working time per month. If we had a job that pays $20 per hour (that’d be $41,600 in annual salary), it means we’ve saved over 39 hours of time each month. Pretty cool that we’re getting paid while doing absolutely nothing at all right?

Future Portfolio Plans

Looking forward we are trying to save more money so we can take advantage of the TFSA contribution limit increase. Considering the limit has increased by $4,500 this year, it means Mrs. T and I will have an extra $9,000 contribution room to use. We plan to maximize tax favourable vehicles (ie. TFSA and RRS) before we make more investments in taxable accounts.

Some of the stocks that we’re keeping an eye on for this month are:

TD Canada (TD.TO)
Domtar Corp (UFS.TO)
Johnson & Johnson (JNJ)
Diageo (DEO)
Omega Healthcare (OHI)

How was your April dividend income?

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39 thoughts on “Dividend income – April 2015 update”

  1. Nice dividend income Tawcan. Plus, 23 companies is great from a diversity perspective. Keep up the good work! It won’t be long until you have your first $1,000 dividend month.
    -Bryan

    Reply
  2. Awesome dividends Tawcan! 23 diversified paying companies with a 43.4% YOY is just outstanding! Thanks for sharing šŸ™‚

    Reply
    • Hi Dan,

      All of these companies that you’ve mentioned are very solid. I would buy them in a heart beat if we have sufficient cash.

      Reply
  3. I love reading posts like this. It is really fun to see the strategy working. Can’t wait to get to your level in a few years. Keep up the good work!

    Reply
  4. Hey Tawcan. Awesome progress bud. You and mrs.T is killing it. Keep it up and watch that portfolio keep getting bigger and bigger. We’re all happy for you and it’s nice to be travelling this journey with you. Cheers bud.

    Reply
    • Hi Dividend Hustler,

      Thanks for your kind words. Hopefully we’ll get to the same dividend income level as you in the near future.

      Reply
  5. Hey Tawcan,

    Your numbers look really nice. Not working for 39 hours per month, that rocks.
    I hope you can double that soon! Keep the snowball rolling

    Amber tree

    Reply
  6. Seeing your list of stocks that you received dividends in April 2015 is very impressive. That’s really a long one. And I can imagine how much you got from there. Yay! Congrats Tawcan!

    Reply
    • Hi Jayson,

      Thank you. Hoping to grow the list of companies and dividend income amount to even higher in the future.

      Reply
    • Hi Wealth Gospel,

      Definitely! It’s like receiving Christmas gifts but we get dividend income every month instead. What’s not to like?

      Reply
  7. Tawcan,

    Great month and fatty pay check from the companies you invested in. Great companies potentials as well, especially with Johnson and Johnson.

    Cheers,

    RA50

    Reply
  8. I just started reading your blog and looking forward to catching up on it and following it in the future.

    Great progress so far, and your watch list is similar to mine.

    Regards

    Reply
  9. Roll dividend snowball, roll. A great month with continued impressive year over year growth. A few months ago some of my dividend payments bought whole shares for the first time and I could really see the compounding effect take hold. Imagine actually adding 5, 6, or 7 shares a year or more without contributing a single penny. Can’t wait for my dividends to start buying 20 and 30 shares with each distribution. Look out below… here comes the snowball.

    Reply
    • Hi DivHut,

      We love rolling that dividend snowball. DRIP is very powerful and it’s great that you’re taking advantage of it.

      Reply
  10. Hi Tawcan

    That’s a nice 4th year consecutive month of nice dividend income there. Surprised to see that they don’t deviate much in terms of the payout date and amount.

    Reply
    • Hi B,

      I guess we don’t see much deviation in terms of amount because quite a number of our dividend payments are monthly.

      Reply

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