Dividend Income Update - June 2024

                 

The month of June 2024 is another month of dividend income landing in my accounts. 

Due to becoming debt free, I changed my pay myself model. Starting the beginning of August 2021, I am paying myself 30%, just like before. This will now consist of 24% to investing, and 6% to savings.  The investment portion is going to my TFSA. Any money left over at the end of the month, I put towards investing on top of the money allocated from paying myself first. Hopefully, I can keep this up!

Update on paying myself first. At the start of August 2022, I now pay myself 35%.  This will consist of 25% to investing and 10% to savings. 

At the start of January 2024, I will now aim to allocate 27% to investing and 10% to savings. 

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

I received a total of $1067.79 in dividend income for the month of June 2024. This represents a  39% increase  from 3 months ago and a 59.7% increase  year over year.

The dividend from Enerplus contributes to the large increase from both 3 months ago and year over year.  Enerplus Corporation has been acquired by Chord Energy  of the United States.  Enerplus paid its normal dividend plus a second dividend as part of the merger.  

I received dividend / distribution income from 15 different companies.

I received $0.00 in option premiums within my investment accounts in June 2024.

Meta Platforms had a dividend payment of $5.00 USD.  After the 15% withholding tax, the dividend payment is $4.25 USD.  My brokerage account is said up to pay my stocks in CAD dollars, so the $ 4.25 USD is then converted to CAD dollars. 

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

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Most of my dividend income comes from my margin account.  As more investments and DRIPs are made inside TFSA, the percentage of dividend income for the TFSA is increasing.  

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

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In the pie chart, dividends percentages came in 1.6% (TTNM), REI.UN (0.9%), MTL (0.6%), and META (0.5%).

In first half of 2023, I received $3872.59 in dividends. In first half of 2024, I received $5302.92 in dividends. This is an increase of 36.93% YTD in 2024 over the same period in 2023. 

The graph below shows my total dividend income, as per the blog, since 2012. 

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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 June 2024?

Disclosure : Long all mentioned securities

DISCLAIMER

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.