January 17th, 2011 | 
Category: It’s a new year and it’s time to share my Dividend Income update for January. I was quite happy with my 2011 income. I have to admit that I wasn’t sure what to expect but now that I have one year under my belt, it’s time to set a target. I finished 2010 with $3,752.79 and I would like to reach $5,000.00 for 2011. My dividend master spreadsheet estimates that I should earn approximately $4,544.00 based on today’s investments and yields. Is targeting 10% above estimate challenging enough?
Dividend Income
January is a big month. I haven’t been able to average my monthly dividend earnings and it’s not a priority either. My dividends are all re-invested with the exception of one investment as I don’t have enough for a synthetic DRIP.
January 2011 Dividend Income: $488.00
Dividend Stocks
Here is a list of my current holdings for the curious.
- Bank of Nova Scotia (BNS)
- Bank of Montreal (BMO)
- Crescent Point Energy (CGP)
- Kimberly-Clark Corporation (KMB)
- AT&T (T)
- Telus (T.A)
- Bell Canada (BCE)
- RioCan (REI.UN)
- Cominar Real Estate (CUF.UN)
- Just Energy (JE.UN)
- Transcanada Pipeline (TRP)
- TransAlta (TA)
- Fortis (FTS)
- Emera (EMA)
- Enbrdige (ENB)
- A Mututal Fund generating 8% dividend
Disclamer: 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 decision at your own risk – see my full disclaimer for more details.
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Nice work! Keep at it – I have started my dividend investing journey around the spring time last year and I am already seeing amazing results. It's all about the reinvestment and the strategy that you and others portray is awesome.
-Lanny B.
Hey Passive,
It would be interesting to dissect that mutual fund. What are its top holdings?
@LRB3123
Thanks for the compliment! Patience should get rewarded with DRIP.
@Andrew
That's easy, here are the top holdings … I warn you though, It's a high turn over mutual fund. MER is high too before anyone asks but it's performing well enough for me for its purpose. (I did sell the portion from my RRSP 4 months ago and transfered it to my trading account to buy dividend investments. It was a step back for monthly dividend but I am better positioned for dividend growth now.)
Energy Savings Income Fund (SIF.UN) 4.61%
Canadian Natural Resources, Ltd. (CNQ) 4.38%
Manulife Financial Corporation (MFC) 3.18%
Crescent Point Energy Trust (CPG.UN) 3.06%
Canada Housing Trust No 1 3.95% 3.03%
EnCana Corporation (ECA) 2.95%
Canada Govt 5.75% 2.90%
Goldcorp, Inc. (G) 2.84%
Talisman Energy, Inc. (TLM) 2.22%
Royal Bank of Canada (RY) 2.22%
Wi-Lan Inc. (WIN) 3.10%
Canada Hsg Tr No 1 4.55% 2.96%
Toronto-Dominion Bank (TD) 2.82%
Canada Hsg Tr No 1 4% 2.79%
Bank of Nova Scotia (BNS) 2.75%
Royal Bank of Canada (RY) 2.71%
Teck Resources Ltd Subordinate Voting Share (TCK) 2.71%
Canadian National Railway Company (CNI) 2.54%
Barrick Gold Corporation (ABX) 2.50%
Altera Corp. (ALTR) 2.35%
That's a good stable of ponies, Passive. Congratulations on having such a nice stream.
WOW, nice work!
Passive, I assume those are all your holdings? Non-registered, RRSPs, TFSAs, etc. that generate dividend income?
@MyOwnAdvisor
Correct, they are all my dividend paying holdings across the many accounts.
Very nice! Having an extra few hundred a month is definitely nothing to sneeze at.
What is the initial amount you started with for your dividend investment strategy.
I am at about 50K$ of capital invested that I track for those dividends.
Great article there. What do you think about the TD Monthly Income fund? It holds Canadian Oil Sands, Enbridge & Suncor & all the major Canadian banks that pay higher dividends. Also as an aside, I read the advantages of investing in dividend paying funds:
Dividends are a way of rewarding shareholders who hold on to a company’s stock. The best measure of a company’s performance is cash flows & the company that can make stable dividend payments over many years & be able to pay all operating & capital expenses is the best investment you can make. Here are some more advantages of dividend paying mutual funds:
Source: http://www.bestdividend-paying-mutual-funds.com
* Dividends add up over time – In fact over the last 25 years, the S&P 500 Index has gained 914%. If you add re-invested dividends, it soars to 2000%
* Dividends are tax-efficient – Interest gained from a Guaranteed Investment Certificate (GIC) at your local bank is taxed at your income tax bracket, which can be as high as 35%. Qualified dividends however are taxed at lower long term capital gains rates, which is 15% for most investors.
* Dividends grow overtime unlike GICs – Most companies that pay dividends are committed to growing their payouts over time as business improves, cash flow efficiency increases & to retain shareholder interest in their stock.