July 2020 Dividend Income

As I'm writing this post, the month of July will come to a close in just 3 days!

The temperatures remain too high for my liking as it has regularly been in the low to mid-80s here in Central Wisconsin and I'm looking forward to the fall to provide a respite from this oppressive heat.

With that aside, I'll turn to the intent of this blog post, which is to provide a rundown on my dividend income received during the month of July.

Analysis:

Overall, I collected $73.79 in dividends during the month of July 2020 net of the $9.21 in Robinhood Gold fees and interest on margin during the month of July.

This represents a 49.0% quarterly growth rate compared to the $49.52 in dividends that I received during the month of April 2020 and a YoY growth rate of 118.1% against the $33.84 in dividends collected in July 2019.

Factoring out the timing of a dividend payment from Simon Property Group (SPG) that skewed my dividend income higher for July, my dividends collected during the month would have been $65.99, which still represents a solid quarterly growth rate of 33.3% and a YoY growth rate of 95.0%.

Going into the specifics of my dividend income during the month, I received $60.09 in dividends in my Robinhood portfolio (from 16 companies) net the $9.21 in Robinhood Gold fees/interest on margin during the month, $13.46 in dividends from 6 companies within my Webull portfolio, and $0.24 from 11 companies in my M1 Finance portfolio.

The $24.27 increase in dividend income from April 2020 to July 2020 is as a result of the following activity within my taxable accounts:

The timing of Simon Property Group's (SPG) dividend resulted in an additional $7.80 in dividend income for the month of July.

W.P. Carey's (WPC) most recent dividend increase resulted in an extra $0.01 in dividend income for the month of July.

My March 2020 addition of 3 shares of Leggett & Platt (LEG) boosted my dividend income by $1.20 during the month of July.

My second tranche of shares of Main Street Capital (MAIN) that were also acquired in March 2020 paid dividends for the first time, which added $1.02 to my dividend income in July.

The announcement from Ventas (VTR) that it was cutting its dividend was first felt in July, which resulted in a $2.41 subtraction from my dividend income during the month (including the $0.01 reduction in my M1 Finance portfolio dividend income).

GlaxoSmithKline's (GSK) varying dividend payments resulted in $0.65 less in dividends during the month of July.

My March 2020 purchase of a share of Philip Morris International (PM) led to a $1.17 increase to my dividends collected during July.

My purchase of 2 shares of Genuine Parts Company in March 2020 resulted in a $1.58 boost in the amount of dividends that I collected in July.

The $9.21 in Robinhood Gold fees/margin interest during the month of July was a $14.20 reduction compared to the $23.41 in expenses during the month of April, leading to a significant increase in net dividend income.

My April purchase of 1 share of STORE Capital (STOR) within my Webull account helped me to collect an additional $0.35 in dividend income during the month of July.

Concluding Thoughts:

Despite enduring a few dividend cuts this year that have wiped out about 7% of my pre-COVID-19 dividend income, my dividend income continues to hold fairly steady as I go about deleveraging from my Robinhood margin, which currently sits at just under an $1,800 balance.

In less than 2 months, I'll finally be able to return to material capital deployment in the range of $1,500-$2,000/month.

Discussion:

How many companies that you received dividends from during July cut or suspended their dividend since your April income report?

How has your dividend income fared on a quarterly and a YoY basis during the month of July 2020?

As always, I value your readership and look forward to reading any comments that you leave in the comment section below.