Overall, I collected $44.26 in dividends for the month of September from 13 different companies and 1 mutual fund. $31.73 of the dividends originated from the 13 companies in my Robinhood account that paid dividends this month and $0.04 came from my recently opened M1 Finance brokerage account. The remaining $12.49 came from CAIBX in my Simple IRA through my employer.
Analysis
When examining my dividends, I noticed that I received two dividend increases that accounted for the $0.22 increase in Robinhood account dividend income from June to September. BP announced a 3.4% raise from a quarterly dividend of $0.595 to $0.615 at the end of July that increased the quarterly income I collected from my 4 shares by $0.08. Also, JM Smucker announced a near 9% raise from a quarterly dividend of $0.78 to $0.85 that increased my quarterly dividend income by $0.14.
Of course, the real growth in my dividend income came in my Simple IRA account as CAIBX paid dividends of $7.13 in June compared to the $12.49 it paid me in September. This came as a result of my continued contributions to my retirement account over the past few months.
Overall, my dividend income increased from $38.64 in June to $44.26 in September. This is a quarter over quarter (QOQ) growth rate of 14.5%. I consider this to be satisfactory given that I didn't initiate any new positions or add to positions in my Robinhood account that paid me in September. Of the $5.62 increase in dividend income from June to September, $0.22 or 3.9% of it was derived from dividend increases, $0.04 or 0.7% of it came from the newly opened M1 Finance account, and the remaining 95.4% came from continued contributions into my retirement account.
Discussion:
How was your September? Did you set a personal best in September? Did you have any new dividend payers for the month?
I like many of the names paying you last month. Looks like we share quite a few in common. Keep buying and collecting those dividends and enjoy those raises when they come. This is the marathon investing strategy. Only over the long haul will you see real results.
ReplyDeleteThanks, Keith! Everyone has to start somewhere. I'll just keep on snowballing the dividends through dividend raises/reinvestment and fresh capital contributions. The real fun will begin next year when I'll have much more disposable income to invest following graduation.
DeleteNice job for the month, Kody! $44.26 is a nice chunk of extra money to receive. My dividend income was within the same range during the month. I received just over $38 in September 2018. It wasn't a personal best - I'll probably set that next month. I had 1 new dividend payer during the month. Thanks for sharing.
ReplyDeleteThanks for the comment, RTC! Yeah, $44.26 is a good chunk of money to receive especially for doing nothing but holding on to quality companies for another quarter. You had a great month as well. Keep on snowballing those dividends!
DeleteI love this month Kody! It is phenomenal and your growth continues to be impressive. Gotta love those divvy increases from BP and SJM as well.
ReplyDeleteBert
Thanks for the comment, Bert! Although most of the growth came from new contributions to my retirement account, the increases from BP and SJM were great. As the portfolio grows, the role of those increases will be even more important in driving future dividend growth.
ReplyDeletenice Kody
ReplyDeletecongrats on the dividend raises and income.
That is a nice boost from smuckers!
your doing great, keep it up
cheerz
Thank you very much for the comment, PC! You had a very solid month as well. $1,500 in passive income is incredible, not to mention the 120% YOY growth in passive income. Keep the passive income rolling in!
ReplyDeleteGood job wait till you get some YOY comparisons then the wow factor takes over looking at how far your investments have come in a year. you are doing good you have some excellent companies keep it up
ReplyDeleteThanks, D&H! It certainly will be fun to see what the YOY results are as I progress on my journey.
ReplyDelete