I received over $700 dividends in November from over 20 different income sources.
I usually receive lower income in February, May, August and November, and much higher income for the rest of the eight months.
Therefore, my dividend income fluctuates monthly, but it is not a big issue for me. I will not attempt to smooth this; instead, I would consider it a total annual income and divide it by 12 to see my average monthly dividend income.
For instance, my estimated yearly dividend income is now at $15 871. Therefore, my portfolios generate around $1322 monthly passive income (twelve months average).
When I reinvest the money back into the portfolios, this income will grow. Besides, most of the stocks in my portfolio may increase their dividend at least once a year.
Therefore, I can expect to receive an even higher income.
When I was starting to build my portfolios, this is what I exactly aim to build. I believe I am on the right track to reach my long-term financial goals.
It is a very tough time for dividend investors. I believe it is a short-term issue, and I hope that we will have a fanatic time in the coming years.
RioCan REIT (TSE: REI.UN) dividend cut
Recently, one of my REIT, RioCan, reduced its distribution from $1.44 to $0.96. This is the second dividend cut in my portfolio this year (the first was IPL – a tiny position in my portfolio).
I had around 100 units of RioCan units for a few years. In February 2020, one of my REIT holdings (Northview Apartment Properties) received a take-over offer. Thus, I sold the units and bought additional 40 units of RioCan for around $27.50.
It was terrible timing.
Later, due to a worldwide lockdown, RioCan units took a massive hit. I took advantage and purchased the rest of the units for around $15 and increased my positions to 400. It was a risky move, and I expected a distribution cut at the time in the early lockdown stage. Still, I purchased it because I thought the price would recover faster once the situation is resolved.
It did recover as expected, and I started to think the distribution is safe. But I was wrong. The company reduced its distribution. However, its unit price didn’t drop with the dividend cut announcement because it was already set-in.
I have around 400 RioCan units (TSE: REI.UN) in my Canadian dividend portfolio. Therefore, my annual dividend income was reduced by $192 or 1.2%.
1.2% income reduction is a small setback but didn’t negatively impact my overall income, thanks to diversification ideas.
However, a couple of my holdings increased their dividends recently, including Telus, Enbridge, Altagas and some U.S ETFs.
Thus, the dividend cut is partially offset by the dividend hikes.
Plus, I expect more dividend hikes in the first quarter of 2021.
Let’s discuss how much dividend I received in November 2020.
I received $707.01 dividend in November 2020, which is 48.02% increase from the dividend I received in November 2019.
Summing up all the dividends I received in 2020, I came up with $10,856.70. One of my short-term goals is to receive at least $13000 dividend income during the year of 2020. So far, I achieved 83.51% of my target.
Dividend income from Canadian stocks
- FC – $15.60
- PLZ.UN – $14.00
- CHP.UN – $30.83
- NWH.UN – $3.33
- REI.UN – $48.00
- RIT – $33.75
- MRG.UN – $17.49
- FCR.UN – $21.50
- CAR.UN – $23.00
- AP.UN – $13.75
- ALA – $12.00
- EMA – $63.75
- IPL – $2.00
- KEY – $32.00
- RY – $151.20
- BMO – $111.30
- PIF – $58.20
Dividend income from U.S stocks
- KMI – $16.74
- ZUD – $14.57
Total dividend I received from U.S stock holdings: $31.31
Dividend income from my International dividend portfolio
- ZDH – $24.00
Total dividend I received from International investments: $24.00
Total: $707.07
Total dividend I received for year 2020: $10 856.70
Currency conversion rate : 1 USD = 1.275 CAD
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 $15 871.
One of my long-term goals is receive $25000 dividend income from investment portfolios. I have achieved 63.48% of my goal.
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