Dividend Income – March 2013

Dividend Income - March 2013Welcome to my best dividend income month since 2009. I have finally broke the $600 mark for one month. It’s not the end of the world but it is another milestone achieved.

The Canadian banks were very generous and increased their dividends this past month and the good thing is that it is just the beginning. I’ll have many more stocks below that will increase their dividends over the year.

I continue to follow my strategy and add small amounts of money to my Computershare and Can Stock holdings from month to month. It’s a slow process but it ads up over time. I have added just about $10,000 since 2009 and the current market value is $12,250. I end up dollar cost averaging my holdings over a number of contributions and dividends but it is working well. My goal is to reach at least $5,000 in a holding before transferring it and I am focusing on utilities as per my diversification target.

Just as an aside, I just finished paying off the car loans (yes, plurals as we purchased two cars at almost the same time) so I can save even more now. The vehicles weren’t new and they were necessary.

Dividend Income

March provided me with $603.30 in dividend income – all re-invested when possible. A total of 5 shares were re-purchase this month. Most of my US holdings pay this month and they are too expensive to DRIP so I hold the cash for a future purchase. It can take time to avoid a costly $9.95 trading fee.

Dividend Income - March 2013

Dividend Paying Holdings

I have been buying US conglomerates in my RRSP for the purpose of holding great companies with a long history of paying dividends but also to benefit from the US dollar down the road. Once the US economy rebounds, the Canadian dollar will probably go back to its usual value against the US dollar and I will be able to benefit :)

My list grew by one purchase: Exxon Mobile. I made a small contribution to my RRSP and decided to add XOM. I shared the details in my Money Tips newsletter – please subscribe if you want to hear about my purchases and other money & investment tips.

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.

DISCLAIMER: Please note that this blog post represents my opinion and not an advice/recommendation. I am not a financial adviser, I am not qualified to give financial advice. Before you buy any stocks/funds consult with a qualified financial planner. Make your investment decisions at your own risk – see my full disclaimer for more details.
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