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Big dividend income drop this month!!! I am finally disposing of my last expensive mutual funds, that’s $20K worth which means my October dividend income takes a hit. How much of a hit you may ask? About $150 per month. I should be able to recover that but it’s going to possibly take a quarter to adjust to the new dividend income. That’s as exiting as Dividend Investing gets my friend 
Dividend Income
My October dividend income is $360.33. Until I make my new stock trades, I am short $500.00 to reach my goal of $6,000 for the year in dividend income. I am taking a small step back for a better long term plan though. I have been planning the sell of this mutual funds for a little while now and I just needed it transfered into my RBC discount broker account to adjust my plan.
I also made a couple of adjustments to my RRSP account by reducing my holdings in Scotia Bank (BNS), selling Emera (EMA) and buying Microsoft (MSFT) and Chevron (CVX). If you want to know the details and the reasoning of the trades, please sign up to my newsletter I discuss my stock trades through my newsletter and I have made 4 trades this year.
Dividend Paying Holdings
Broker Accounts (RRSP, TFSA, …)
- AT&T (T)
- Bank of Nova Scotia (BNS)
- Bank of Montreal (BMO)
- National Bank (NA)
- Canadian National Railway (CNR)
- Chevron (CVX)
- Coca-Cola (KO)
- Cominar Real Estate (CUF.UN)
- Crescent Point Energy (CGP)
- Husky Energy (HSE)
- Johnson & Johnson (JNJ)
- Kimberly-Clark Corporation (KMB)
- Liquor Store (LIQ)
- Manulife Financial Corp. (MFC)
- Microsoft (MSFT)
- Power Financial (PWF)
- Rogers Communications (RCI.B)
- Royal Bank of Canada (RY)
- Toronto Dominion (TD)
Computershare & CIBC Mellon Accounts
- Bank of Nova Scotia (BNS)
- Bank of Montreal (BMO)
- Canadian Imperial Bank of Commerce (CM)
- Enbrdige (ENB)
- Fortis (FTS)
- Bell Canada (BCE)
- RioCan (REI.UN)
- Sun Life (SLF)
- Telus (T.A)
- Transcanada Pipeline (TRP)
- TransAlta (TA)
Readers: Do you have any stocks on your radar?
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.
Image: Master isolated images / FreeDigitalPhotos.net
Disposing your last (expensive) mutual fund was a smart move. That money is going to come in handy to buy some dividend payers
ESI is looking good BTW – thinking about starting a position.
I enjoy these updates, keep them coming. I hope to post mine for October in another couple of weeks.
My Own Advisor recently posted..October Update – 2012 personal finance and investing goals
@MOA
That was the last link between me and previous financial advisor. That link is broken now. I am on my own
It felt really good selling my last mutual fund. My portfolio has never looked better and looking after your own investments is easier then people realize.
Steve@The Loonie Bin recently posted..Perseverance: How It Finally Paid Off
@Steve
Thanks for the comments! It does feel good not to have the expensive mutual funds. The yield was good but no growth whatsoever …
I have been selling my Mutual Funds (CIBC Monthly Income) recently to buy some pipelines ENB and INTER Pipeline.
I wish i had done so sooner.
@Dan7
The good thing is that you took action. Congrats for your switch.
I’m rolling over my 401k and selling the expensive mutual funds too. I’m going to move them into Vanguard funds. It’s a pain, but once it’s done, it should be mostly hands off.
Joe @ Retire By 40 recently posted..My 401(k) Rollover Fun
@Joe
Well done. Filling out the forms and waiting is really all it is
I have everything consolidated now in my broker and one place. It feels good to have a really good view and good tools to manage everything.
[...] The Passive Income Earner reported his dividend income for October 2012. [...]
I have never owned mutual funds myself but one of my best performing dividend stocks has been Altria (MO).