My dividend income is a simple status report started in 2010 when I switched to dividend investing. The intention is to show proof in what dividend investing can do in the long run.
By my estimates, using my dividend tracker, I should be earning at least $1,000 per month for the full year. If you read my previous update, I am estimating my full-year dividend income to be at $15,000. I am off to a good start for the year as I have added some new money to complete the contributions for my TFSA and RRSP.
I am now on a mission to fill up our spousal TFSA. My goal is to tackle that bit by bit with $1,000 deposit whenever I can. The amount is the minimum investment I have decided to invest through a discount broker due to the 1% trade fee I incur which I feel is an acceptable cost.
I started the year with some house cleaning. Canadian Utilities was not providing the performance I expected even though it’s a Canadian Dividend Aristocrats with 44 years of dividend increases. That just goes to show you it’s important to look past the dividend increases. I kept the money in the utility sector and purchased BIP.UN. Brookefield is an impressive business. Below are the transactions I have made.
- Sold Canadian Utilities TSE:CU in my TFSA
- Purchased Brookefield Infrastructure Partners TSE:BIP.UNNYSE:BIP
- Purchased TD Bank TSE:TDNYSE:TD in my RESP account.
- Added to Telus TSE:TNYSE:TU in my TFSA account
My January dividend income adds up to $1,002.24. Starting the year with a $1,000 minimum feels good considering I earned $861.05 last year in January. I have not put any effort in assessing if the growth comes from the dividend growth or my new investments but I am assuming the new money I add is having a large contribution to the growth as you would expect.
DISCLOSURE: Please note that I may have a position in one or many of the holdings listed. For a complete list of my holdings, please see my Dividend Portfolio.