Dividend Income Update February

February was another rollercoaster month for investors with a big drop in the middle of the month and a recovery at the end of the month. Major indices wound up roughly where they started by the end of the month but there sure was a lot of activity going on and some great buying opportunities.

I was very happy to receive dividends this month from RY, which also happens to be one of my first equity purchases in the Niche Fund. What’s not to like about one of the largest Canadian banks paying me to own their shares?

My dividend income in February totaled $4.74 and my total dividend income for 2016 so far just went up to $9.33. While these amounts seem rather small, they will continue to grow even if I stop adding new shares through regular dividend increases.

Of course there is no guarantee when investing and that holds true for dividends as well. Several large companies in 2015 and 2016 have announced dividend cuts or eliminated their dividends altogether. The companies I look to add to my portfolio must have a strong track record of dividend payment history and must pass my own screen and analysis.

I’m still working on my goals post for 2016, there are several major purchases and expenses to factor in this year so it is taking me a bit longer than planned to crunch all the numbers. This year will be a bit different for my investment strategy so I hope I can keep the great momentum going from 2015.

It is very encouraging to see the money I have invested in equities generating some passive income. The holdings in my Niche Fund pay quarterly dividends so some months will have more income reflected than others. My Dividend Income page has a calendar showing when I expect to receive dividends from each of my holdings.

February Dividends Received

RY – $4.74

Total: $4.74

My DGI journey began in July 2015 and is off to a modest start. I aim to save a portion of my income and devote it towards regular dividend stock purchases. I have a number of large purchases coming up in 2016 so the amounts for my purchases will be lower than what I plan on investing in future years.

It is truly addicting to find the best possible companies each month and determine whether they meet my investment criteria. Of course the start of any long journey is slow going. I appreciate you taking time to stop by and look forward to chatting more with fellow DGI investors on their strategies and objectives.

If you’re new to my site, my plan is to buy and hold high-quality dividend paying stocks in order to enjoy the flexibility offered by the passive income stream generated by regular dividend payments to shareholders. In the long run, these dividends will start to grow on their own through dividend hikes. I look forward to posting the next dividend income update at the end of March.

Did you have a solid month for dividend income in February? Any plans on adding to your financial sector holdings in 2016? Thanks for stopping by!

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7 thoughts on “Dividend Income Update February

  1. Thanks for sharing l, as it’s always nice to see fellow DGI bloggers share their journey. I’m looking forward to seeing your upcoming buys and month by month seeing more and more dividend income rolling in. February was a pretty slow month for me in dividends with $38.71 total, but March looks like it should be a nice month, as most of my companies pay out this month.

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    1. Thanks Special Agent, February and January were both slow for me. March is looking a lot more promising! I appreciate you taking an interest in my journey. I look forward to learning from your DGI posts as well. Cheers

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  2. I’m trying to avoid getting frustrated with the small numbers in my own dividend stream. Hoping to add zeroes after the numbers that I’m getting over time. All it takes is new capital, dividend reinvestment, and time.

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  3. Always happy to read another blogger receiving dividends from a Canadian bank. Happy to be a fellow shareholder with you in RY. Just keep doing what you’re doing by buying solid dividend payers that have sustainable dividends and you will be fine long term. I’m still looking to add to my Canadian banks in March. Thanks for sharing.

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    1. Hi DivHut, glad to hear you’re also a RY shareholder. I will keep my top three Canadian banks on the shortlist for my next purchase RY TD and BNS. There is a lot to like about the big banks and I look forward to adding to my holdings soon. Thanks for your support!

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