Monday, September 7, 2020

Dividend Income Update - August 2020


The month of August 2020 is another month of dividend income landing in my accounts. Recently, I switched my pay yourself first model to concentrate a little on debt repayment. The interest on debt is 7.16% 5.66% plus the insurance on the debt. The decrease in the interest rate is a result of emergency rate cuts by the Bank of Canada over the COVID19 pandemic. Starting in August, I will change my pay myself first percentage. I will be paying 15% towards line of credit and 12% will go into savings. As my normal savings account is in the $2000 range, I have a couple of big expenses coming up. So, I will be putting money into savings until the $2000 amount is reached again.  
Why money going into line of credit at paying myself first at 15% and savings at 12%?  This is simply to get a better return on my money on a large scale.  When the savings hits north of $2000.00 again, I will go back to paying myself 15% to investing at 12% to line of credit.

Note: All the dividends and totals below are in Canadian Dollars.

Non-registered Accounts

Bank of Montreal (BMO) - $90.10
Emera Inc (EMA) - $61.25
Enerplus (ERF)     - $7.37
Shaw Communications (SJR.B)     - $19.75

Subtotal : $178.47


A&W Royalties Income Fund   - $3.80
Cominar REIT (CUF.UN)    - $13.62
Killam Properties REIT (KMP.UN)    - $17.11
Royal Bank (RY) - $60.48

Subtotal: $95.01

Total = $273.48

I received a total of $273.48 in dividend income for the month of August 2020. This represents a 1.496% increase from 3 months ago and 17.7% increase year over year.

I received dividend / distribution income from 8 different companies.

I received $0.00 in option premiums within my investment accounts in August 2020.

Below is a visual of my dividend totals for the last 5 years.

Click to Enlarge

Most of my dividend income comes from my margin account. 

Next, I will show the percentage of total income for each position.

I will update my dividend income tab with the new amount. I will include my option premium income also. It is great to see money from passive income sources deposited into my brokerage account every single month.

Note: Any activity in my RRSP account is not included in these totals.

How was your dividend income for August 2020?

Disclosure : Long all mentioned securities


I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.


  1. Putting up another month of solid double digit year over year growth is awesome. Congrats. Canadian banks still doing their thing :) Been a while since I added to my positions in TD, BNS or RY. I guess banks haven't been on my watch list for a while. Thanks for sharing.

    1. DivHut,

      Thanks for dropping by. I am glad I had double YOY growth with dividend suspensions from Cineplex and Boston Pizza Royalties income fund.

      I have not add to BNS in a while. TD and RY have been somewhat new positions added in the last year or so.

  2. Excellent month IP! That growth rate is very strong. I like how you are using the income to pay down the debt. It was nice to see your interest rate fall. However, I wonder when they will riase!!


    1. Bert,

      Thanks for dropping by. It is nice to see the interest rate on the line of credit by lowered due to the Bank of Canada reducing the prime rate. A few years back, Royal bank increased the interest rate by over 3% on lots of line of credits held by individuals without warning. It was over 10% after that. Got it reduced by increasing the credit limit.

      I don't think interest rates will rise for about 2 years, and we will likely see saving accounts lowering their interests rates within the next 6 months.