July was yet another month of increased dividend income and I am hoping to crack the $1,000 (per month) mark soon. The increases are mainly due to the dividend income getting reinvested into the markets. As you probably know by now virtually all dividend income received gets reinvested into the markets. The compound growth takes a while to get started but eventually I am hoping it will be able to pay my monthly expenses upon retirement (still a ways away).
July Dividend Income
I received dividend income from the following sources:
- RioCan REIT
- Crescent Point Energy
- Surge Energy
- Bird Construction
- ETF: iShares Canadian Dividend Aristocrats (CDZ)
- ETF: iShares Select Dividend Index Fund (XDV)
- Cineplex Inc.
- Roger’s Sugar
- BCE Inc.
- Bank of Nova Scotia
- Canoe EIT Income Fund
Total dividend income: $778.96
Note – some of the dividends received each month are in US currency which is converted at 1:1 for simplicity.
July was slightly busier than prior months – there were a couple of new purchases as well as the usual dividend income.
I previously mentioned in my last monthly update I was keeping a close eye on Fortis and finally pulled the trigger. I had sold my shares of Fortis a few months ago because I was sitting on a gain of roughly 30%, but found that it had gone down sine I sold it. I like it so much I couldn’t resist and pulled the trigger. I doth expect to trade Fortis again in the near future as I see it as a long term hold.
With my summer vacation being in July I haven’t had a chance to sit down and take a closer look at my investments so I am planning to do that in August. The market swings have brought about some good buying opportunities but I haven’t had a chance to take a closer look while camping out of town.
Dividend Watch List
Here are a few of the companies I am currently keeping an eye on:
- TD Canada Trust
- Proctor & Gamble
- Bank of Nova Scotia
Conclusion: July was another month of steady growth, there are a few companies I am currently watching that I will buy if/when they become attractive
How was your investment income last month? What are you watching/buying?