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Each month I total up the dividends that were paid to me in the month as a way of tracking my progress towards financial freedom. The end goal is to have my dividends cover my expenses. This is a long term goal, so I have a lot of years to go, but I find it encouraging seeing my dividend income steadily grow over time. This reminds me that I’m on the right track and to stick with it.
My dividend income for May 2013:
⭐ Find dividend growth stocks that have survived multiple recessions and increased dividends for 5, 10, 25+ years in a row.
Canadian Dividend Income
- Royal Bank – $15.12
- SNC Lavalin – $23.00
Total Canadian Dividend Income – $38.12
US Dividend Income
- AT&T – $16.65
- Proctor & Gamble – $9.40
Total US Dividend Income – $26.05
As you may already know, I’ve been traveling with my girlfriend since October 2012. Most of my time was spent in Australia working and traveling, but now I’m in Indonesia. We spent some time in Bali, and now we are in the Gili Islands. One thing I’ve noticed is that Indonesia is way cheaper than Australia. So while my May dividend payments are low compared to the other 2 months in the quarter, I still figure that they’d be enough to cover 22 large Bintang’s (the beer of choice in Indonesia). The May dividends don’t cover all my expenses, but it is still nice to have the beer covered for the month.
I was pleased to see that two of the companies increased their dividend. Royal Bank of Canada increased its dividend 5% from $0.60 per quarter to $0.63. Royal Bank has been in the habit of increasing their dividend twice a year, so I’m hoping for another increase later on in the year. The other increase came from the dividend champion Proctor & Gamble. P&G increased its quarterly dividend by 7.0% from $0.5620 to $0.6015. P&G has increased its dividend for 57 consecutive years. This impressive streak of 57 years is currently tied for the third longest streak for companies listed in the USA.
To see a full list of the companies currently in my portfolio check out my portfolio page. To see dividend income earned from previous months see my dividend income page.
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