Dividend Income Report – September 2022

By | October 1, 2022

Fall is upon us. We have entered hurricane season, and unfortunately, we were struck with a deadly and destructive storm with Hurricane Ian. My well-wishes for all those affected by the hurricane. It’s difficult to watch on tv and so I can only imagine just how horrible it is to have your property destroyed by the hurricane, or worse, to lose a loved one. Outside my local area, I’ve noticed that the temperature have cooled and it’s starting to get chilly outside. It’s really not bad, but I’m just not a fan of the cold. And, what’s more, winter is coming! I had to say it. But, despite rain or shine, heat or cold, hurricane or tornado, I can count on my dividends working for me in the background. So, without further adieu, let’s see how much dividend income I earned in September 2022.

Dividend Income

in September, I earned $43.20 in dividends broken down as follows:

Dividend Income

I crossed the $40 threshold and I am inching ever so closely to crossing $50. It’s good to know that not only are my dividends not weather-dependent, but that they also don’t care about the volatility of the stock market. Whether the stock market goes up or down, my dividends continue to work for me in the background. So, my stress level about the overall value of my dividend portfolio is low.

Annual Income

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

Here is the raw data:

Dividend Annual Growth Rate

I made 45.23% LESS in dividends this September than I did in September 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 September 2023 to be well on its way to exceed the income generated in September 2022.

Forward Annual Dividends

At the time of this writing, the forward annual dividends is $380.98.  A month ago, my forward annual dividends was $370.12. This represents a modest 2.93% growth from the previous month. Still, I know that there this is much work to do.

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.

$380.98 per year is $31.75 dividends per month, on average. At present, I earn enough in dividends to cover Acorns, Amazon Prime and Netflix.  This is my first time being able to cover Netflix. 

The following is a list of expenses I am targeting:

Technically, the next bill I am targeting is my student loans. The current balance on my student loans is approximately $5,000. I am grateful that I was able to pay down my student loans to that amount. It has taken me YEARS and the original balance was over $100,000.

Currently, the minimum payment on my student loans is $0.00 because I am in deferment until December 2022. The previous payment was $19.59, which is what I am tracking here. I am anticipating that my student loan balance will be either forgiven or cancelled and I won’t have to worry about it anymore. If I am wrong, I should hopefully be able to payoff my student loans in 2023. So, I will continue to track the student loan balance here and remove it from the list at the appropriate time.

Regardless, it’s going to a long time to be able to cover my next bill – whether that’s the student loans, or more likely, my Phone Bill (which I recognize is quite high).

Savings Trackers

I have two projects that I recently started. The first is my $50000 Savings Goal project, during which I save $30,000 from my beach condo and $20,000 from my salary over the course of the next 14 months. I’m still trying to figure out what to call this project and so if you have any ideas, let me know. I’m thinking about calling it the $20,000 Salary Challenge – so let’s go with that from now on.

The next savings project I started was to save an additional $20,000 using my rideshare income over the course of the next 14 months. I call this project, the $200 Envelope Challenge.

Well, I am happy to report that for the month of September, I was able to meet my monthly goal for both projects. If I can meet my monthly goal for each month until December 2023, I will be able to save $40,000 (salary + rideshare) and an additional $30,000 from the beach condo. For purposes of this section of my monthly reports, I will concentrate on reporting only on the the salary + rideshare income. I do go into more details in later posts. But reporting my progress multiple times a month help keep me focused and motivated to go on. It also helps to keep me accountable.

Final Thoughts

Dividend income investing is a worthwhile strategy to make money for the long haul. It takes a great deal of patience and dedication. Making a few dollars every month (when I sometimes spend more than that in a day) is hardly motivating. But, it’s a good reminder that those funds were made passively and that they compound over time.

In addition to my long-term goal of building a diversified dividend portfolio, I do have more medium term goals as well. These include buying another beach condo. The funds from my two projects will be saved so that I can afford the down-payment on a condo in another 2-3 years. This assumes I don’t buy another property prior to December 2023, which is always a possibility.

How was September for you? What did you think of this post?

Let me know your thoughts by commenting below.

5 thoughts on “Dividend Income Report – September 2022

    1. Dividend Portfolio Post author

      That’s sounds great JC. I really should start tracking my raises. I believe O raised their dividends as well. Congrats on getting a new monthly best for your main account.

      Reply
    1. Dividend Portfolio Post author

      I can’t wait MDD. I am slowly increasing my portfolio. Beginning in 2023, I hope to increase the minimum contributions to my dividend portfolio, so that the number of shares (and therefore the amount dividends) can grow faster. So I will get there, but hopefully sooner rather than later!

      Thanks as always for the support.

      Reply
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