As some of you dividend lovers may have noticed, I haven’t posted an update on my dividend portfolio in a while. In October, I had some lofty ideas on what to do to increase my dividend income. I thought it would be timely to give you another update (thank goodness for this blog as it keeps my accountable- otherwise, I can’t predict when I can find the time to update my dividend spreadsheet!) on my dividend income progress.
I have a few updates (it is so tedious to update the excel spreadsheet, that’s why I’m planning to do this only every 3-4 months) to share with you guys, but they aren’t anything major or anything. Some companies increased their dividends (like clockwork, might I add), most stayed the same, and one company cut their dividend payout. I also bought a few more shares (though I would have liked to have done more, but I haven’t been able to find the time to).
- For one, NLY (the US REIT) that I had initially bought ended up triggering a stop limit order that I had set for -10% of the purchase price. Therefore it sold automatically. I am considering re-buying it at the reduced price for for a lower number of shares (maximum 100 this time)
- I am considering buying some shares in AT&T (NYSE: T) the dividend yield is a robust 5.72% (maybe a little too high actually) and it is very close to the 52 week low- of course, I would put this in my RRSP because of the taxes involved if I were to put it in my non-registered account. I would only buy under 50 shares in this.
- Another update includes buying 50 more shares of Fortis (TSE: FTS). While updating, Fortis has reliably increase its dividends per shares to $0.32/share from $0.30/share. One of my favourite stocks was on sale, so I thought it would be good to buy more (honestly, I have a problem buying things on sale- toothpaste, clothes, stocks… perhaps it is the hoarder mentality ingrained in me, I don’t know)
- For some reason, my Excel spreadsheet was inaccurate (as some of you may recall, I am terrible at Excel) and listed the dividend income for Telus (TU) to be 100 shares worth instead of the 50 shares that I actually had. So I updated that and saw a decrease in my annual dividend income.
- Transalta recently announced that they will cut the dividend from $0.29 per share to $0.28 per share after a reported loss in the fourth quarter.
- The exchange traded fund CPD isn’t doing that well, but the dividends are ok and have offset the losses that I have had (well, imaginary losses since I have not sold)
My future plans include:
- Buying more exchange traded funds (ETFs)
- Research some good dividend paying stocks for the roughly $6000 in cash that I currently have in my TFSA Tax Free Trading Account
- Research some US stocks for my registered retirement savings plan portfolio (RRSP)- as mentioned above, I am thinking about buying some AT&T shares
- Although I had over $5000 in annual dividend pay outs earlier in October, things have changed and I would like to achieve this goal again but ensure that it is sustainable (for example, the high yield of the US REIT NLY was very attractive but also very volatile)
- My current annual dividend income is just over $4500- I would like to see this over $5000, maybe even around $5500 if I am ambitious!
- I am going to look into selling Transalta (TSE: TA) depending on how it performs and how much I am up or down in the stock. I only have 100 shares anyways.
- Ensure that my stock limit orders are set for each of the equities that I hold- I usually set it to about a decrease of 10%. For some of my favourite ones, like Fortis (TSE: FTS) I am a little more lenient with this one because it is the dividends that I want in the long term, not the fluctuation in the price
Alright, here’s an updated list of the dividends that I have. Check out the laborious dividend income spreadsheet screenshot below!
Readers, how is your dividend portfolio coming along?