June 2020 Dividend Income

As I'm writing this blog post, the USA is celebrating its 244th anniversary. It's hard to believe that despite how long 244 years seems, it wasn't really that many generations ago that America was fighting for her right to be free from Great Britain's rule.

Every country has its fair share of past mistakes and America is no exception, be it slavery, the displacement of Native Americans, the internment of Japanese Americans during World War II, or any other number of human rights issues that arise from a less than perfect humanity.

However, on this day, we're reminded of the incredible tales of bravery of those Americans that fought and sacrificed for this country's ability to gain and maintain its independence, while also fighting for the good of the world as a whole, helping the Allies of World War II free tens of millions of Europeans from Adolph Hitler's brutal reign of terror.

It's a lesson to us all that it is more noble to have died fighting for what we believed in than to have cowered in fear and lived our lives as traitors to our beliefs.

With that aside, I would like to take a moment today to discuss my dividend income for the month of June 2020, which I am happy to report, was a record month of dividend income.

Analysis:

During the month of June, I received $136.28 in dividends net of the $10.66 in Robinhood Gold membership fees and interest on the margin over $1,000 in my Robinhood account (the DLR and AVGO dividends were recorded for July 1 in Robinhood, though they were to be paid June 30).

Against the $90.31 in net dividends collected in March 2020, this works out to a 50.9% quarterly growth rate and an even more impressive YoY growth rate of 115.9% compared to the $63.11 in dividends received in June 2019.

Breaking this down a bit further, I received $76.33 in dividends in my Robinhood account from 20 companies ($65.77 net of the Robinhood Gold membership fees and interest costs), $56.68 in dividends from my CAIBX mutual fund holding in my employer-sponsored retirement account, $13.35 in dividends from 6 companies in my Webull account, and $0.48 from 24 companies in my M1 Finance account.

The additional $45.97 in net dividend income from March 2020 to June was as a result of the following activity within my various portfolios:

PepsiCo's (PEP) recent dividend increase boosted my dividend income by $0.14 from March to June.

I received an additional $3.25 in dividends from Broadcom (AVGO) due to my purchase of another share in March after the ex-dividend date.

Despite my purchase of another 5 shares of Royal Dutch Shell (RDS.B) in March, I only received $0.04 more in dividends compared to March (factoring in my M1 Finance position in the stock as well), as a result of Shell's recent announcement that it was cutting its dividend.

I also received an additional $4.37 from British Petroleum (BP) as a result of my decision to purchase another 7 shares of the stock in late March.

As a result of my decision to purchase an additional share of Home Depot (HD) in late March, I received an additional $1.50 in dividends from Home Depot during the month of June.

My purchase of 6 shares of Prudential Financial (PRU) within my Robinhood portfolio also paid off as this was the first time I collected dividends from the stock in this account, which boosted my dividend income by $6.60 from March to June.

My purchase of 16 shares of Main Street Capital (MAIN) in March also paid off in my Robinhood account, increasing my dividend income by $3.28 from March to June.

Realty Income's (O) announcement of its dividend increase coupled with my decision to purchase an extra 3 shares of the stock in March led to a $0.70 increase in my dividend income from March to June.

Consistent with the theme of my March dividend stock purchases paying off in June, United Parcel Service (UPS) added $4.04 to my net dividend income within my Robinhood account.

International Business Machines' (IBM) dividend increase and my purchase of a share in March led to a $1.66 increase in my dividend income from March to June.

My March purchases of 5 shares of Exxon Mobil (XOM) in March added $4.35 to my dividend income from March to June within my Robinhood account.

Johnson & Johnson's (JNJ) dividend increase in April helped me collect an additional $0.12 in dividend income in June compared to March.

Another April dividend increase that helped increase my June dividend income was Southern Company's (SO), which added $0.10 to my dividend income from March to June.

My decision to purchase an additional 4 shares of Pfizer (PFE) in March also added $1.52 to my dividend income from March to June.

My purchase of 3 shares of Wells Fargo (WFC) within my Robinhood account added $1.53 in dividend income to June.

As indicated above, I incurred $10.66 of Robinhood Gold and margin expenses in June, which was a $4.29 improvement over March's $14.95 of expenses.

Within my Webull account, I benefited from UnitedHealth Group's (UNH) dividend increase, which added $0.17 to my dividend income from March to June.

As a result of the retirement contributions of myself and my employer to my retirement account, my dividend income from my Capital Income Builder (CAIBX) mutual fund increased by $8.32 from March to June.

The final piece of activity came within my M1 Finance portfolio on the news a few months back that Boeing (BA) was suspending its dividend, which decreased my dividend income by $0.01 from March to June.

Concluding Thoughts:

June was a great month in more ways than one for my portfolio. Not only did it mark my first $100 net dividend month since I began investing nearly 3 years ago, my dividend income of $136.28 for the month was well above the requirements to surpass the triple digit figure of $100.

Given the fact that my income will soon be more readily available to deploy into investments once I pay off the remaining amount of debts that I owe, I wouldn't be surprised if my dividend income surpassed $225 next June.

Discussion:

How was your June?

Did your portfolio enjoy a record month of dividend income?

As always, I appreciate your readership and welcome your comments in the comment section below.