I received over $330 dividend income from 29 different companies in August 2016.
This is my eighth dividend income report for the year of 2016.
Long-term readers know that I receive less dividend income in February, May, August and in November.
$330 is look very small amount for some of you, but it is really big gift for many, especially people like me.
This could cover my utilities and telephone bills for a month.
It is almost a week worth of salary for minimum wage workers.
The income is pure passive and, well diversified and very secured than a day job income.
If your income is depending from one income source, then you better start thinking about create few other income streams to secure your financial future.
Let’s say a person ABC working in a company called XYZ, and in an event that the company XYZ runs into serious financial problems the first thing it looks for to cut expenses (workforce) instead of cutting dividend payments.
When you own multiple companies like XYZ, then you could survey easily even if XYZ cuts its dividend.
This is the reason I always encourage all this blog readers to consider creating more income streams instead of relying on one source.
I hope you get some value out of this post.
Now let’s get back to the numbers.
I received $332.26 dividend income in August 2016, and it is 26.72% higher than August 2015 which as $253.99.
Summing up all the dividends I received in 2016, I came up with $4365.63. One of my short-term goals is to receive at least $7200 dividend income during the year of 2016. So far, I’ve achieved 60.63% of the goal.
Dividend income from Canadian stocks
- FC – $7.80
- CGX – $2.70
- BMO – $43.00
- RY – $64.80
- IPL – $6.50
- EMA – $26.13
- REI.UN – $11.75
- XDV – $7.92
- XTR – $10.00
- XRE – $9.02
- CPD – $5.61
- CBO – $2.54
- DRG.UN – $3.33
- CAR.UN – $3.12
- ZPR – $2.25
- MRG.UN – $5.00
- MST.UN – $5.86
- BEI.UN – $18.75
- ALA – $12.50
- MTY – $5.75
Dividend income from U.S stocks
- PG – $16.74
- KMI – $6.25
- CL – $1.95
- VZ – $8.48
- GIS – $7.20
- T – $17.76
- OHI – $12.00
- SBUX – $2.00
- HCP – $5.75
Total: $332.46
Total dividend I received for year 2016: $4365.63
Estimated passive income
For those new to this site, the Estimated passive income is the income I estimated to receive in a year based on my current investments holding and their distribution rate.
My Estimated passive income is currently at $7355, increased by $135 from my last update because of recent purchases and dividend growth.
One of my long-term goals is receive $25000 dividend income from investment portfolios. I have achieved 29.42% of my goal.
I am very happy with my results and achievements so far. I hope I am moving in the right direction toward my long term financial goals.
Learn about finance, live within your mean, save and invest in high quality assets will help you to achieve your financial goals much earlier than you think.
Thank you so much for your great support, encouragement, and being in my financial journey.
Great blog! Love reading it. We are building our dividend portfolio (TFSA) and wondering if you had considered writing ‘covered calls’ on your stocks to lift the returns a bit. This is where we are planning to go but would like to hear from others on their success.
Hello Mike,
I am still learning about options trading, I think it also great way to create income using the stocks you have. For now, I will be focusing to build my dividend portfolio as I am working from 8 to 4 so hard to do trading during my work hours.
Please share with us your success or things that you learn from experience.
Best Regards,
Hi,
Thanks for very useful information given in this blog .
Just curious How you choose your divident stocks?
I am new to investing and do not know how to choose right divident stocks
thank you
regards
sachu
Hello Sachu,
Thank you for stopping by,
I use some rules when I select a stock, but I don’t follow them completely. I select if a stock meet some criteria. I will discuss about them in the upcoming post.
If you are really serious about investment, then I would recommend you to read a book called “The Intelligent Investor: The Definitive Book on Value Investing” (affiliate link).
It is a must read book for all investors.
Best Regards,
Thanks a lot for your quick reply
regards
sachu
I love your message and how you describe it. Any dividends we receive is a fantastic gain, and the fact you’ve received over $300 in one month is great. We’re all at different points of our journey, you’re doing great already. I hope one day you reach your goal 🙂
Tristan
Hey DDU,
Thank you for stopping by,
Hopefully I will receive over $800 in September.
Cheers,
Your dividend income does not look small to me. That can pay for many monthly bills. Looks like you have a nice varied mix of stocks paying you in August. Always nice to see we have more than a handful of names in common. Thanks for sharing.
Hey DivHut,
Thank you for stopping by,
Some of my friends laugh when I say I earn $300 per month from dividends because they make $300 per day from their day job. It looks small to them, but they don’t realize the effect for long term.
Cheers,
Hello,
I really like your blog! it is inspiring to see your progress…
I just started investing about 6 weeks ago through a tfsa account and a margin account. Some of my investments include dividend US stocks. I haven’t received any yet, but I’ve read that we get taxed 15 or 30% by the IRS on the dividend. I’m surprised to see that you report your US dividend as is…. is it because you buy your US stocks only in an RRSP ?
Do you know if we need to fill the w-8ben-e form with questrade to reduce the irs tax from 30 to 15% ?
Thanks
Hey Marc,
Thank you for stopping by,
As of today, more than 90% of my US stocks are in my RRSP account, so there are no withholding tax by the IRS. Rest of U.S stocks are in my non-registered account, and I get deduction of only 15%, but I didn’t file any forms to reduce from 30% to 15%. But there is no harm to file the w-8ben-e form with Questrade.
However, the withholding tax can be recovered by claiming the foreign tax credit when you file for your tax returns.
Hope this helps,
Best Regards