July 2024 Dividend Income

As I'm writing this blog post, it is Friday, August 2. The temperature here in Central Wisconsin is anticipated to reach a high of 85 degrees Fahrenheit later today. So, I plan on getting outside for a few hours.

Now that July 2024 is behind us, I will be looking at my net dividend income for the month.

Net Dividend Income Topped $250

During July 2024, I collected $256.43 in net dividends (including ADR fees for GSK). That was a 3.9% quarterly growth rate versus the $246.69 in net dividends received in April 2024. Backing out the sale of Omnicom (OMC) and Eastman Chemical (EMN) in May 2024, my net dividend income would have grown at a higher clip.

This was 0.6% lower than the $258.02 in net dividends that I collected in July 2023. But again, I no longer own OMC or EMN. Not to mention that I also liquidated positions in W.P. Carey (WPC) last October, Medical Properties Trust (MPW) last November and Leggett & Platt (LEG) in January. The timing of PepsiCo's (PEP) dividend payment schedule played a role as well.

I received $227.10 in net dividends from 24 companies in my Charles Schwab account. As I alluded to earlier, growth from dividend increases couldn't offset the loss of dividends from OMC and EMN. That is why my net dividends were a bit lower in this account.

That was more than offset by the $18.90 in net dividends that I collected in my IRA from three companies. Since opening and funding this account in March, this marked the first month of a quarter that my IRA contributed to my net dividend income.

My $10.24 in net dividends received from four companies within my Webull account was the same as April.

In my M1 Finance account, I collected $0.19 from eight companies. That was $0.03 below my net dividend income in April. This was also due to the timing of PEP's dividend payment.

Concluding Thoughts:

Thus far, my net dividends through July are up 21.8%. God willing, I'm going to keep deploying between $1,500 and $2,000 of capital monthly. Coupled with organic growth, this should keep my dividend income climbing higher in the months and years to come.

Discussion:

How was your dividend income for July 2024?

Did you collect any first-time dividends in the month?

Thanks for reading and please feel free to comment below!