Dividend Income Update: September 2014

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This blog is great because it keeps me accountable.  Sometimes I forget what my goals are until I re-read what I wrote.  Obviously in the last three months I didn't do anything to increase my dividend income, so I better get my butt in gear.  The last update was a good update because there was a lot going on.  In this update, I actually lost some money just because Just Energy triggered a sell and so I lost the dividend income with that.  There were a few minor changes but not much.

I think perhaps the reason why I didn't take much action in buying more dividend stocks is because I was upset from the TFSA overpayment (so instead of $7000 cash in my TFSA account I really only have $4000 to play with and buy stocks) and also because stocks seem a little overpriced at the moment.

Here are some of the changes I noticed when updating my dividend income spreadsheet:

  • BMO (BMO.TO) increased their dividend from 0.76 cents a share to 0.78 cents a share
  • Telus (TU) increased their dividend from 0.38 cents a share to 0.38 cents a share
  • One of my stop limit orders was triggered, Just Energy (JE.TO) and it sold for $6 a share (yeah, ouch) so now the dividend income from Just Energy is gone
  • For some reason in my spreadsheet on ZDV, I had the monthly dividend as 0.08 cents per share but it should actually be 0.062 a share, so I had to update that.

If you want to  make your own spreadsheet, check out my snazzy ‘step by step guide on how to make a dividend income spreadsheet

Here is a recap of some of the goals I had in June and for September (in italics for your reading pleasure) alongside the action I took:

  • 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.
    • I didn't do anything about this.  The dividend is even crappier than last time.
    • September 2014 update: I didn't sell Transalta, the dividend is the same so far.
  • 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)
      • It bounced back up and I am happy happy happy.

    September 2014 update: Still doing good.

  • Buy more dividend paying stocks for my TFSA with the roughly $7000 sitting in there
    • I might look into buying another bank since Bank of Montreal (BMO.TO) has done so well for me (I am up $1700+ in this for now), like Canadian Imperial Bank of Commerce (CM.TO) or National Bank (NA.TO)
      • I did not do this at all because instead of $7000 I only have about $4000+ cash in my TFSA account
    • I might look into buying another energy related share
      • Nope, have not done this either.  Will make it my December 2014 dividend income update goal.  Add something to the TFSA.
    • Or add more positions into the exchange traded funds I already hold in the Tax Free Savings Account
      • I will do one of these three… LOL I promise for the next update in December
  • Another goal for the next three months would involve trying to get to $5500 annual dividend payout (how awesome would that be, a $5500 annual dividend payout is really like an extra $450 a month!)
    • I need to somehow get another $377 in dividend income before December.  I think that's going to be a bit difficult but we will see.

Here is my dividend income spreadsheet for September 2014.  Not much change so far, but hopefully that will change in the December update and you will see $5500 on the last line of the spreadsheet.  Also, as you can see there is a blank space where Just Energy (JE.TO) used to be.  I am obviously not skilled enough with Excel/ Google Drive to be able to remove a row.

Screen shot 2014-09-01 at 10.17.15 AM

Readers, how is your dividend portfolio coming along?  Do you have an annual dividend income goal as well?

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Young is a writer and former owner of Young and Thrifty and the main "twitter' behind Young and Thrifty's twitter account. She lives in Vancouver, BC and enjoys long walks on the beach, spending time with her anxious dog, and finding good deals. If you like what you read, consider signing up for email updates.

6 Comments

  1. debs @ debt debs on September 24, 2014 at 5:28 pm

    Thanks, going to create a dividend spreadsheet!



  2. Vikas on September 25, 2014 at 4:33 am

    Typo in this post: Telus raised dividend and prior dividend is the same. Also I think Telus symbol is wrong.



  3. Jason on December 21, 2014 at 4:27 pm

    Hi,

    I’m a little “late to the game” in setting up a Dividend Stock portfolio. I keep going back and forth over starting with a discount brokerage or setting up a DRIP account.

    The one question I have is how many dividend stocks are necessary for a modest dividend portfolio? Ten? Twenty? At what point does it become too difficult to manage?

    I’m a subscriber to your newsletter and really appreciate several of the tips on your blog. Keep up the good work!!

    Regards,
    Jason



  4. Kyle on December 22, 2014 at 8:42 am

    Hi Jason,

    In my opinion, setting up a DRIP account is quite a bit of paperwork for someone just getting started, but if that doesn’t intimidate you then you could certainly go for it. I’m probably the wrong guy to answer a question about how many dividend stocks you need for a diversified portfolio as I like to invest through ETFs that give me an extreme amount of diversification. Also, the more diverse you are the closer you will mirror the index anyway, so I guess the answer might lie in what your goal is. Are you looking to beat the index through dividend investing or just replicate it without the small MER attached to ETFs?



  5. Jason on December 22, 2014 at 5:40 pm

    Hi Kyle,

    I already have a couple mutual funds which track a few of the stock indexes with low MER’s….but I have yet to purchase any ETF’s, although that is also on my wish list.

    As for the dividend stocks to invest in, I am looking more for the dividend income to increase my wealth. And eventually help sustain me in my retirement. But definitely not naive enough to think I can beat the stock index. I’m in for the own and hold strategy.

    I guess I should start with a few stocks from a discount brokerage first off and then move into a DRIP scenario if I want to go that complex.

    Cheers and thanks for the reply.

    Jason



  6. Kyle on December 23, 2014 at 8:08 am

    Hey Jason, well if you don’t think you can beat the index why not just use ETFs exclusively? They pay too dividends too right?



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