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Okay, it’s time for the September 2016 Dividend Income Update, passive income junkies!

For my September 2016 Dividend Income Update, I was able to increase my dividend income by over 6.6% from last update in June 2016.  It sounds like a lot, but to be frank, it is only again about a $300 increase from three months ago.  My goal for the end of 2016 is to have $6000 in annual dividend income, which represents about $500 dividend income per month (not too shabby right?).  Currently I have about $4900 annually as you can see below.  I’ve still got about $1100 in dividend income to go before the end of the year.  Although I was able to increase my dividend income, I am very far off from the goal of $6000, considering I only have three months left.  Last update I only increased it by about $300 from the previous update too, so this must be somewhat of a trend.

I have only bought 25 more shares of National Bank since the last update.   Another Canadian stock I have been thinking about purchasing is Sunlife.  Maybe I’ll buy some more by next update 🙂  I have 106 shares in Sunlife right now, thanks to one DRIP since last update.

I don’t think that I am going to purchase a big chunk of stock just for the sake of reaching my $6000 a year dividend income if it doesn’t work for my portfolio.  Maybe the $6000 will have to happen in 2017, we’ll see.  One of the downsides to an ETF portfolio is the low dividend payouts from the exchange traded funds.  I think that is why I like to still keep a portion of my portfolio with individual stocks and was unable to completely let go and sell everything (can’t help it, I have hoarding tendencies I suppose).

Changes to the Dividend Portfolio

Here are the changes the dividend portfolio since June 2016.  There aren’t that many as you can see.  I have increased amounts in the exchange traded funds that I invest in normally and bought some National Bank but that’s about it.

HSE.TO is still unchanged, I’m still counting it as dividend income even though technically it’s not.  I’m waiting for them to revert back to dividend payouts.

National Bank (NA.TO), I bought 25 more shares for a dividend income of about $220 annually.  The recently increased their dividend to $0.55/quarter.

As I mentioned earlier, I dripped one share of SLF.TO (Sunlife Financial).   Now instead of 105 shares, I have 106 shares of Sunlife Financial.  The dividend has not increased since last update.

Bank of Montreal (BMO.TO) increased their dividend to $0.86 per quarter, an increase of 2.38% compared to last update.  Take that, inflation!  My annual dividend return on BMO.TO is pretty nice, at an attractive 6.02%.

VUS, Vancouver US Total Market Index ETF (Canadian Hedged) decreased a bit from $0.70 annually to about $0.62 annually.

Finally, the last change is that Telus (T.TO) increased their dividend to $0.46 a quarter from $0.44 per quarter, which represents an increase of 4.5% compared to last update.  That’s an even better hit to battle against inflation.

Other than those adjustments indicated above, there haven’t been any other changes to the dividend income portfolio.  It’s been slowly coming along.  They say patience is a virtue, right.

If you would also like to track your dividends, and if you want to make your own spreadsheet, check out my snazzy ‘step by step guide on how to make a dividend income spreadsheet‘.

Goals for the Dividend Portfolio

As mentioned in my Personal Finance Resolutions for 2016, I hope to have $6000 a year of passive income (at least) by the end of 2016.  I will need to invest $45,000 over the in my trifecta of exchange traded funds to add to my current dividend portfolio to create the $6000 of passive income.  Currently I am sitting at about 26% of my portfolio in individual stocks, so I am not allowed to purchase anymore as it might skew it even more.  I told myself in my investor contract that I will keep it to under 25% individual stocks and have the rest in exchange traded funds.  So I’ve been contributing to my trifecta, and as that goes up then I add in a little here and there of individual stocks.

Here is my screenshot update for September 2016:

September 2016 Dividends

Readers, how has your dividend portfolio been doing?

Article comments

Joseph Soucy says:

Geee!! Ya! I have to agree with the above comments. I just found your website and got totally engrossed untill I checked these comments. So yes don’t forget the context,,cause it is somewhat misleading. If hse was a dividend contributor,,but isn’t now,,, maybe it would be time to sell and move on? unless you have insider info,,that says they are going to reinstate the dividend. Thanks again for allll the info you publish. joe

Mark says:

Would you please clarify how you count BMO as delivering 6.02%. If you are talking about a yield based on an initial investment, at a significantly lower entry price, then it’s a bit misleading not to mention that.
BTW, BMO at today’s close is yielding 4.09%., and even if you manage to snag it at the (latest) 52 week low, hasn’t yielded more than 4.89%.
Not saying your numbers are wrong, but we do need some context…

Nelson says:

Why exactly are you still counting Husky dividend payments? The stock hasn’t paid a dividend in nearly a year and it doesn’t look like it’ll start again anytime soon.