dividend income

June 2017 Dividend Income

June Dividend Totals

June is officially over, and it’s time to report on how things have been going for us in our investing journey.

When it comes to dividend investing, June is one of the most exciting months for us because I open new positions or add to existing ones.

This month I added to our positions in MITT, NLY, and PNNT. I wrote a post about our purchase a couple of weeks ago, and I’m still super excited. As much as I love taking advantage of DRIP investing, nothing beats the boost we get to our dividend income when we deploy additional capital.

Speaking of which, we had a record-breaking June, with dividends coming in from four different companies, which paid us a total of $22.72.

In addition to the dividends paid to us by our companies, I’ve also decided that I’m going to include any dividends paid in our brokerage account as part of our dividend income, which bumps us up to $22.92 for the month. I’ve also retroactively included the $0.15 from last month in our yearly dividend income total.

June 2017 dividend Income

I’m happy to say that this June is a 53.11% increase from last June, when we only received $14.97 in dividend income.

We might not be pulling in a huge amount per month right now, but $22.92 is almost enough to cover our gym membership. Even better, that’s almost $23 that we didn’t have to work for and that will allow us to continue to grow our wealth.

Our Yearly Dividends

Alright, now that we’ve talked about how we did for the month, let’s check out our progress on our yearly dividend income goals.

As of now, we’ve officially crossed the halfway point and are 50% of the way through the year. Not only that, but we’ve officially broken the $200 mark for dividends received year-to-date, coming in at $209.31!

Last year it took us clear until October to reach the same milestone, so we were able to hit the same point in 60% of the time. That’s a huge improvement!

Additionally, we’re now 52.32% of the way towards our goal of receiving $400 in dividend income for the year. We’re still just a little ahead of schedule, but we should leap ahead next month and then maintain a slightly diminished lead to finish out the year. Right now I’ve got us projected to make it to somewhere around the $430 mark once all is said and done.

Sounds awesome to me, but how about our forward dividend income?

Forward Dividend Income

At the end of this year, our goal is to have a forward dividend income of $500 dollars, which would be a 77.94% increase from our total dividends received last year, before I started tracking our forward dividend income.

As far as I reminder, we started the year with a forward dividend income of approximately $390. Last month, our forward dividend income was $419.17.

Between our dividends reinvested this month and the money I put into adding to our positions in MITT, NLY, and PNNT, we’ve jumped up to a forward dividend income of $489.02. We’re only halfway done with the year and we only have $10.98 to go to reach our goal!

I wish I could say we’ll keep jumping up like that for the rest of the year, but a downside to how little we can put into our account each month is that big bumps like this only happen twice a year.

That said, I’m confident that our dividend reinvestment will push us pretty darn close to the $500 mark just in time to make our next purchase in December. If all goes well, that purchase should push us up to around $550 in forward dividend income, blasting through our yearly goal.

But we’ll have to wait and see.

More Good News

Remember last month when I told you that we’d transferred our emergency fund from our savings account into a higher yielding money market account?

This month I logged on to see how much interest we had accrued and was met with a wonderful little message:

interest rate increase

I wasn’t expecting a 10% bump in our interest rate, but I’m happy to take it. It sure kicks the pants off of most of the savings and money market accounts available today. Building wealth is all about celebrating the small victories and focusing on the positive, especially when you’re just getting started like we are.

Thanks to our interest bump, we’ll now be making just shy of $150 a year in interest on our rainy-day fund.

We could be making a lot more than that in the stock market. In fact, we’d be making closer to $1,100 a year if our emergency fund was allocated the same as our current portfolio.

But, again, we’re not counting on this to increase our net worth, but it will help us fight inflation a little bit. An emergency fund is more about our peace of mind than it is what we could be doing with the money.

To finish up, remember:

Little by little the bird builds his nest.

 

 

8 thoughts to “June 2017 Dividend Income”

    1. I’d love to be hitting a couple thousand! Right now I’m hoping I’ll cross $100 a month by the end of the year, but we’ll see.

  1. Congrats on a record breaking June. It’s always nice to see your passive income coming in at higher and higher amounts. Keep at this DGI marathon. It should be run for decades on end for the real fruits to come. Looks like your 2017 dividend total should be met with just over half of your income already received. Keep it up!

  2. Well done on getting the ever increasing dividends as well as to see the market value of your 8 holdings keep on increasing [26%+] over book value.

    Are you a ‘strictly’ ‘buy & hold’ investor (not doing anything fancy such as leverage, margin, options or short selling) that also adds to what you have – or, do you or will you at some point sell any positions, especially those stable with low dividend rates of less than 5%?

    For the next 1-2 years how many more new stocks are you planning on or looking at buying & how many?

    What is your dividend target % yield

    1. Thanks for the encouragement!

      I prefer to be a buy and hold investor, and that’s the only thing I do right now. That said, I’m interested in learning more at options and short selling in the future but I’ll probably avoid using margin or leverage, as I disapprove of debt. I’ve sold in the past, and I’ll do it again, but I’m not in any hurry to do it or worried about selling positions with lower dividend rates.

      In the next year or two, I anticipate that we’ll add around 3-4 positions to our portfolio.

      I’d like to have a dividend yield somewhere around 8%, whether because of initial yield or because of dividend growth on our cost basis.

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