Dividend Income Report – June 2022

Well, it’s that time of the month for one of my favorite posts. Time to post my dividend income report. I hope everyone enjoys the upcoming 4th of July holiday. There are a lot of bad news out there. I could go down the list but I’m sure you know what they are. It’s good to know that despite all the negativity, I can count on my dividends being paid and re-invested every month. My portfolio may be small, but we all have to start from somewhere. Overtime, as I continue to contribute my own funds, and as the dividends get reinvested, the dividend portfolio will grow, and snowball, and get bigger. Patience, consistency, and discipline are key. It’s a long and slow road to financial freedom but a worthwhile one. So, without further adieu, let’s see how much dividends I earned in June 2022.

Dividend Income

In June, I earned $40.95 in dividends broken down as follows:

I can’t tell you the last time I was excited about getting $40.95. I am so close to crossing the $50 threshold and then unto triple digits. One of the more interested things about last month’s dividends is that 3 companies paid me EXACTLY the same amount. Those companies, IBM, MMM & XOM, which are highlighted in orange above, all paid me $5.07 in dividends. Total coincidence. That has never happened to me before. Maybe I should buy a lotto ticket.

Annual Income

Here is a graphical representation of the dividends earned in June in relation to the dividends earned in previous years:

Here is the raw data:

I made nearly 40% LESS in dividends this June than I did in June of last year. It could be worse. Clearly my dividend portfolio did not move in the direction I would have hoped. But, with consistency and dedication, I fully expect June 2023 to exceed the income generated in June 2022.

Forward Annual Dividends

At the time of this writing, the forward annual dividends is $348.43!  A month ago, my forward annual dividends was $338.86 This represents a healthy 2.82% growth from the previous month. Still, I know that there this is much work to do.

I do have a few more priorities to focus on before I can start aggressively contributing to my dividend portfolio and thereby building my forward annual dividends. I’ve already paid off my credit card debt recently. Now I am concentrating on paying back a personal loan of $6000 (0% interest rate), and then build up my emergency fund. But don’t worry, I won’t be neglecting my portfolio. In fact, as soon as I pay off the personal loan, I anticipate announcing an increase to my contribution limit every month.

Finally, the Dividend Tracker has been updated.

What Expenses Would Dividends Cover?

Here, I visualize what expenses my annual dividend income could pay for. This is one of my favorite parts of pursuing dividend growth investing.

$343.43 per year is $28.62 dividends per month, on average. At present, I earn enough in dividends to cover Amazon Prime.  I cancelled my Acorns and Hulu Plus subscriptions. I hadn’t used those in months. The next bill I am targeting is Netflix. The total amount needed until I can pay the next bill is $1.50 in dividends.  I hope to cover this bill during the second half of 2022.

The following is a list of expenses I am targeting:

Conclusion

I was excited the write this dividend income report. I feel as if the portfolio is in a good place. Given the fact that I don’t plan on retiring for another 11 years, I have plenty of time to build up my portfolio. What’s important to me is to have a solid foundation so that should there be a recession this year or in 5 years, I can weather the storm.

How was June for you? Did you break any new milestones? What did you think of this post?

Let me know your thoughts by commenting below.