Dividend Income Update October 2020

Dividend Income Update October 2020 – Chronicling monthly dividend income to document the journey to financial independence.

October 2020 is officially over, so it’s time to report how much dividend income was received.

In short, my dividend business posted strong results this month. Another month of double digit year over year growth was reported.

In this post, I will reveal how much dividend income I earned, which companies paid dividends, and I will analyze the YoY performance.

Let’s start with how much dividend income I earned.

$40.65 was received in October 2020
$491.24 was earned YTD (January 1, 2020 to October 31, 2020)
All-time dividend income received is $1,501.14 (June 2017 to October 2020)
Monthly average dividend income in 2020: $49.12

October Earnings: $40.65

$40.65 was earned in October 2020.

Compared to October 2019, this represents a YoY increase of 22.26%.

Although we are in the middle of a pandemic, dividend income still increased by $7.30 over last year.

At the same time, annual revenue is up to $491.24 (January 2020 to October 2020). This works out $46.20 more than last year by the same point.

Revenue Sources: 8 Stocks

Eight stocks paid dividends in October 2020:

CIBC (Ticker: CM)
Bank of Nova Scotia (Ticker: BNS)
Riocan Real Estate Investment Trust (Ticker: REI.UN)
Altria Group (Ticker: MO)
Coca Cola (Ticker: KO)
Park Lawn (Ticker: PLC)
Choice Properties Investment Trust (Ticker: CHP.UN)
Rogers (Ticker: RCI.B)

The bulk of this month’s revenue was from CIBC (Ticker: CM). As shown in the pie chart above, the Canadian financial services company accounted for 54% of October’s dividend income.

Similar to last month, a single company accounted for more than 50% of the total income.

This is not my goal for the long-term.

I must diversify and balance the portfolio to receive more equal distributions. Hence why I plan to buy new positions as well as add to existing positions.

Otherwise, Bank of Nova Scotia accounted for 15% of income, Riocan Real Estate Investment Trust generated 12%, and Altria Group accounted for 11% of total income.

October Dividend Income Since 2017

Dividend income in October 2019: $33.25
Total Dividend income in October 2018 : $54.10
Dividend Income in October 2017: $17.95

Besides October 2018, dividend income has increased every year since 2017.

Furthermore, the only reason it decreased is because I sold part of a position.

Based on this year’s progress, a new quarterly record will be broken in 2021.

Outlook: $137.03 To Reach Annual Income Target

Based on my goal to earn at least $628.27 in dividend income in 2020, I must earn $137.03 more.

As such, I need to earn an average of $68.52 per month in November and December.

Dividend Income Report October 2020 (Concluding Thoughts)

In summary, my dividend business earned $40.65 from eight stocks in October 2020.

This represents a respectable 22.26% YoY increase over October 2019.

Subsequently, $491.24 has now been earned year-to-date.

With only two months remaining this year to collect dividends, I still expect more than $600 to be generated.

I am not a licensed investment or tax adviser. All opinions are my own. This post may contain advertisements by Monumetric. This post may also contain internal links, affiliate links to BizBudding, Amazon, Bluehost, and Questrade, links to trusted external sites, and links to RTC social media accounts.

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Dividend Income Update October 2020