September 2014 Dividend Income / Monthly Highlights

By: GenXinvestor

Here is my September 2014 dividend income.  September has been a decent month and we are well on our way toward meeting our annual goals of increasing our net worth to $700,000, being mortgage-free in early 2015, and hitting the $4,000 in dividends mark.

I’ve been super busy this month and I haven’t had the opportunity to earn extra money.  We also have not been paying down the mortgage as much as we would like.  We still managed to make some smaller lump sum payments and, in addition to our regular weekly-accelerated mortgage payments, managed to knock the principal down by about $4,200.

I was surprised that our net worth only grew by about 4k this month – this is about a third of what we normally manage in a month.  As it stands now, we are about 37k away from meeting our annual net worth goal of 700k.  With 3 months to go we’ll need to increase the NW by about $12,350 each month!  I think this will be a little tight, but I’ll just have to see how things go.

The stock markets are finally entering into a correction phase.  Not surprisingly, with the recent market weakness, my investment portfolio has taken a bit of a hit, especially my energy sector holdings.  I’m not concerned though, this kind of volatility is exactly what I have been waiting for.  So hopefully I’ll be bargain hunting this month!

I was happy to see that Emera raised its dividend this month by 6.9%.  I also continued with my plan to make automatic monthly and quarterly share purchases in my dividend reinvestment accounts (DRIPs).  I bought more shares in Fortis, Suncor, 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.  I also continued with my TD e-Series Funds automatic investment plan.

September has been a great month with regard to dividend income.  Here are the numbers:

Bank of America (BAC) – $1.37

Enbridge (ENB) – $3.54

Fortis (FTS) – $15.69

RioCan Real Estate Investment Trust (REI) – $3.86

Manulife Financial (MFC) – $26.57

Suncor Energy (SU) – $64.37

Sun Life Financial (SLF) – $13.46

iShares S&P/TSX Canadian Preferred Share Index ETF (CPD) – $44.43

iShares S&P/TSX Capped REIT Index ETF (XRE) – $30.38

Canadian Short-Term Corporate Bond Index ETF (VSC) – $15.68

Canadian Short-Term Bond Index ETF (VSB) – $11.89

TD International Index Fund – e (TDB911) – $108.92

TOTAL = $340.16

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