Dividend income April 2023 — Chronicling monthly dividend income to document my journey to financial independence. I am not a licensed investment advisor and this post is not investment advice. All opinions are my own.
The month of April is officially over, so it’s time to reflect on my dividend income performance.
As it turns out, April was a spectacular month for my investment portfolio. My year-to-date total returns ballooned to new highs and my investment portfolio is continuing to outpace the S&P 500. As for dividend income, I posted my highest year-over-year dividend income growth rate so far in 2023. Additionally, I am happy to report that dividend income earned remained above triple digits for the second month in a row.
Overall, it was another solid month of investing performance to add to the archives. There are signs that the pace of year-over-year dividend income growth is picking up.
In this post, I will share insights on my April dividend income earnings and provide details on which stocks paid dividends. I will also use data from April 2022 and past years as a way to compare and evaluate performance.
I am excited to elaborate on April’s accomplishments and there is a lot to cover, so let’s jump right into the numbers.
Dividend Income April 2023 Highlights
- Total dividend income earned in April 2023 was $116.66
- Year-over-year (YOY) dividend income grew by 14% or $13.92 compared to April 2022
- Year-to-date (YTD) dividend income is $423.21
- YTD dividend income is up by 7% or $28.03 compared to the first four months of 2022
- 10 stocks paid dividends in April 2023
- Quarter-over-quarter dividend income increased by 23% compared to January 2023
- 2nd month in a row of $100+ dividend income
- All-time dividend income since June 2017 is $4221.53
- Dividend income per month average in 2023 is $105.80
- Dividends per day average in April 2023: $3.89
Dividend Income April 2023 Earnings — $116.66
My investment portfolio generated $116.66 CAD in dividend earnings in April 2023.
This represents a 14% year-over-year increase compared to April 2022. It’s the highest year-over-year dividend increase I’ve achieved in 2023 so far. Hopefully it’s the first sign that the pace of dividend income growth is picking up after a slower start this year.
Year-to-date dividend income in 2023 reached $423.21, which is ahead of 2022 by 7% or $28.03 by the same point in the year.
Furthermore, quarter-over-quarter growth increased by 23% compared to January 2023. This is another indication that dividend income growth is beginning to accelerate.
Otherwise, my all-time dividend income reached $4221.53 after factoring in April’s dividend earnings.
Stocks/REITs That Paid Dividends In April 2023
Ten positions paid dividends in April 2023.
Below is a breakdown of which positions paid dividends in order from highest to lowest:
- CIBC (Ticker: CM)
- Telus (Ticker: T.TO)
- Altria Group (Ticker: MO)
- Algonquin Power & Utilities (Ticker: AQN)
- SmartCentres REIT (Ticker: SRU.UN)
- Bell (Ticker: BCE)
- NorthWest Healthcare REIT (Ticker: NWH.UN)
- Cisco (Ticker: CSCO)
- RioCan REIT (Ticker: REI.UN)
- Nike (Ticker: NKE)
As shown above, ten positions paid dividends in April 2023. This is down by four positions since April 2022. However, some of those previously-owned positions may start appearing in future reports again.
CIBC led the way in dividends paid this month, as it accounted for 27% of total dividend income earned. Telus was a close second, as it contributed 24% of this month’s dividends. Also worth noting, Telus just announced a dividend increase. Shares of Telus will now pay out a quarterly dividend of $0.3636 per share according to the company’s website.
Otherwise, the third highest contributor was Altria Group, as it accounted for 19% of April’s dividend earnings. To my regret, AQN came in fourth, as it still accounted for 13% of this month’s income, even after the dividend payment was slashed. I am begrudgingly holding on to this poor-performing position. I am still waiting for the right opportunity to sell it. The time may come soon.
Other than that, the remaining six positions accounted for 5% or less of this month’s income. It’s worth mentioning that Bell, a new dividend stock position, accounted for 4% of this month’s income. I expect the size of this position as well as its dividend income contribution to grow substantially. For now, I’m just waiting for a pullback in the stock price.
April Dividend Income Growth Since 2018
The month of April has seen significant dividend income growth over the years. But I must admit that there were a few ups and downs and setbacks along the way.
In totality, dividend income has increased from $39.71 in April 2018 to $116.66 in April 2023. But if you looked closely at the numbers, you would notice that dividend income actually dropped from $63.93 in April 2019 to $28.67 in April 2020. Simply put, I sold my stock-sharing plan because I switched jobs at the end of 2019. So that’s the reason for the steep drop-off.
Otherwise, dividend income growth has been quite steady since April 2018. Steady dividend income growth is exactly what I’m aiming for.
You can view all dividend income updates since June 2017 here if you want to check the numbers in more detail.
Outlook — $976.79 More Dividend Income Required To Reach My 2023 Target
I set a modest goal to earn at least $1400 in dividend income by the end of 2023.
Let’s find out how much more dividend income is required to meet this goal after factoring in April’s income. Seeing that $423.21 has been earned year-to-date (as of April 30, 2023), I must earn at least $976.79 more dividend income to reach my $1400 target.
Broken down further, I must average at least $122.10 in dividend income per month to meet this target.
Considering that each month’s year-over-year dividend income growth in 2023 has been consistently higher than last year, I firmly believe that dividend income is on track to meet and exceed my $1400 target.
Overall, the long-term outlook is very promising. I consistently save a high percentage of my net income to invest and increase my dividend income. Furthermore, my PADI (projected annual dividend income) is in the range to easily meet and exceed the target.
However, the next four to five months are going to be the most challenging months of the year for dividend growth. I earned record amounts of dividend income during those months, so they will be hard to top. For example, I earned $138.84 in June 2022, $117.05 in July 2022, $109.17 in August 2022, and a record-setting $152.18 in September 2022. I look forward to the challenge of increasing dividend income over those months and possibly setting a new all-time record.
Final Thoughts
In summary, my investment portfolio generated $116.66 of dividend earnings in April 2023.
This represents a 14% year-over-year increase compared to April 2022. It’s also the highest month for year-over-year growth so far in 2023.
After factoring in April’s dividend income, year-to-date dividend income is up to $423.21, which is 7% higher than at the same point last year.
Additionally, my all-time dividend income reached $4221.53 since June 2017, when I began this dividend income journey to financial independence.
Of course, I still have a long, long way to go until I become financially independent. But the most difficult part of this journey is in the past. The snowball is beginning to roll on its own. I plan to persistently save and invest, consistently reinvest dividends, and simultaneously focus on buying high quality stocks while maintaining a stable financial situation overall.
Related Dividend Income Updates
All Dividend Income Updates Since June 2017
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Dividend Income March 2023
