April 2015 Dividend Income / Monthly Highlights

By: GenXinvestor

Growing dividendsHere is my April 2015 dividend income report.  April has been another great month for dividend income and we are on our way toward meeting our annual goals of increasing our net worth to $725,000, paying down our mortgage and hitting the $7,500 in dividends mark.

I was excited to see that for the first time we passed the $1,000 mark in monthly dividend income!  This tells me that all of our hard saving and investing is really starting to pay off!  The bump in monthly dividend income was a direct result of buying up all that Scotiabank stock in January, February and March.  Growing our net worth is important but I’d say growing our monthly passive income is even more important.  So I’m glad to see it’s headed in the right direction and it makes our goal of hitting $7,500 in dividend income that much easier.

I also received a 3% quarterly dividend raise from Procter & Gamble (PG)!  Time and time again I’m constantly being rewarded with dividend raises which is why I love being a dividend growth investor.  I don’t ever pretend to know where markets will be at some point in the future but what I can say with some certainty is that, as long as I keep investing in high quality, dividend-paying stocks, my dividend income will continue to increase over time.  And that my friends is the only important trend that I focus on.

In other news, thanks so much to the government for raising the annual TFSA contributions to $10 k!  Good thing that I’ve been busily moving more and more money over to my wife’s TFSA.  We are now about $11,000 away from having it maxed out and I get to put another $4,500 in mine!

In our TFSA’s we own a lot of Canadian Bank stocks like TD and BNS.  In my TFSA, I now have enough BNS shares to start a synthetic DRIP, which means I get at least 1 share per quarter commission free.  With my TD shares I do even better.  I get about 5-6 shares each quarter through the DRiP in my TFSA.  This is exactly what the TFSA is meant for – increasing our hard earned dividend income and keeping it out of the hands of the tax man.

I also continued with my plan to make regular monthly and quarterly share purchases in my dividend reinvestment accounts (DRIPs).  I bought more shares in TransCanada, Bank of Nova Scotia and Bank of Montreal.  In these accounts there is no point in trying to time the market – I contribute small amounts on a regular basis, regardless of what is happening in the market and I let compounding and dollar-cost averaging do their work.

April has been an excellent month with regard to dividend income.  All that money I put to work this winter has really paid off this month.  Here are the numbers:

Bell Canada Enterprises (BCE) – $26.19

KP Tissue Inc. (KPT) – $92.88

RioCan REIT (REI) – $3.98

TransCanada Corporation (TRP) – $11.04

Bank of Nova Scotia (BNS) – $427.71

Canadian Imperial Bank of Commerce (CM) – $22.47

Toronto Dominion Bank (TD) – $306

TransAlta (TA) – $3.03

iShares S&P/TSX Canadian Preferred Share Index ETF (CPD) – $51.57

iShares S&P/TSX Capped REIT Index ETF (XRE) – $37.54

Vanguard Canadian Short-Term Corporate Bond Index ETF (VSC) – $15.10

Vanguard Canadian Short-Term Bond Index ETF (VSB) – $11.39

TOTAL = $1,008.9

Photo Credit: Image courtesy of pakorn / FreeDigitalPhotos.net

Leave a Reply

Your email address will not be published. Required fields are marked *