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As a way of tracking my progress towards financial freedom I total up the dividends paid to me each month. 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 to see my dividend income steadily grow over time. This reminds me that I’m on the right track and to stick with it.
As you know, I’m playing catch-up. For this dividend income update post I’ll be covering September, October & November.
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My dividend income for September 2013:
Canadian Dividend Income
- Altagas – $33.41
- Enbridge – $32.31
- Fortis – $35.30
- Suncor Energy – $20.00
- Sunlife – $36.00
Total September Canadian Dividend Income – $157.03
US Dividend Income
- Aflac – $35.00
- CH Robinson Worldwide – $17.85
- Johnson & Johnson – $35.05
- Intel – $38.25
- Pepsi – $65.66
Total September US Dividend Income – $191.81
My dividend income for October 2013:
Canadian Dividend Income
- Altagas – $33.41
- Bank of Nova Scotia – $83.51
- Telus – $43.40
- TransCanada – $40.06
Total October Canadian Dividend Income – $200.38
US Dividend Income
- Sysco – $22.40
- Medtronic – $11.48
Total October US Dividend Income – $33.88
My dividend income for November 2013:
Canadian Dividend Income
- Altagas – $33.41
- Potash Corporation of Saskatchewan – $50.82
- Royal Bank – $16.08
- SNC Lavalin – $23.00
Total November Canadian Dividend Income – $123.31
US Dividend Income
- AT&T – $16.65
- Proctor & Gamble – $9.52
Total November US Dividend Income – $26.17
I’m pretty happy with the progress over the past few months. With the addition of Potash and Altagas my dividend income is a little more consistent from month to month. On top of that I’m looking at a forward dividend income of almost $3,000 per year. For a year where most of it was spent travelling, I’m pretty pleased. The good news continues as there have been a string of dividend increase announcements recently.
Fortis just announced it’s increasing its quarterly dividend from $0.31 to $0.32 which is a 3.2% increase. Not a huge increase, but enough to keep up with inflation. This is about what I expected from Fortis. I think of Fortis as a reliable annual dividend increaser, but I expect low to mid dividend growth.
Enbridge announced a %11 increase to their quarterly dividend increasing it from $0.315 to $0.35. This is a good increase and I expect around 10% dividend growth over the next few years. Back in October Enbridge announced that they plan to increase their dividend by 10 to 12% annually from 2013 to 2017.
These are a just a few of the recent announcements, with a number of other dividend increases being announced over the past few months that affect my portfolio.
I’ve also added the following chart to the dividend income page, so that you can easily see my progress since the beginning of 2013.
Photo credit: EJP Photo / Foter.com / CC BY-NC-SA
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