Dividend portfolio for monthly income: Overview of stock holdings and how much dividend income my portfolio generates per year.
Dividend investing is one of the best income streams on the planet.
It is truly a passive way to earn income.
It doesn’t have high startup costs, nor does it require a lot of time.
In fact, dividend investing could easily become a personal business for anyone.
To prove it, I chronicle how much dividend income I earn monthly, and I track how much revenue is projected quarterly.
Let’s dive into how much money my dividend portfolio is projected to generate.
Dividend Portfolio for Monthly Income: $565.11 Projected Annually | $47 Monthly
Projected income or forward dividend income refers to how much dividend income is expected to be paid over 12 months from January to December.
As shown in the chart above, projected income is down significantly since the previous quarter.
Like most businesses, income is down because of Covid-19.
Last quarter, $644.15 was projected annually. But then Coronavirus came along and crushed the market.
Suncor Energy slashed its dividend, and Sir Royalty Income Fund cut its dividend, so now $565.11 is projected annually. This is a total of $79.04 less.
But I have learned a lot from the experience. Now, I am more focussed on safer stocks with healthier dividend payout ratios.
Looking at the monthly amount of dividend income, an average of $47.09 is expected.
Dividend Income So Far In 2020 (January to May): $228.51
Based on the most recent dividend income update, $228.51 has been received year to date (excluding June 2020).
This works out to $45.70 per month in dividend income.
Related: All Dividend Income Updates from June 2017 to May 2020
Stocks In the Portfolio
In total, my dividend portfolio for monthly income has 16 stock positions.
However, this portfolio is far from complete.
There are at least 19 more positions I am interested in, but that’s after I build up current positions.
Here is a current list of what dividend stocks are in my dividend portfolio for monthly income: ENB, RY, CM, $FTS, BNS, $AAPL, MO, Riocan, VCI, SIR.UN, KO, $T, CHP.UN, RCI.B, $SBUX, SU.
In addition to the 16 positions, I own 3 stocks that do not pay a dividend in the cannabis industry. I also plan on investing in several more growth stocks, including $SHOP and $TSLA.
But as of right now, the largest sectors of my portfolio are financial services and energy.
After observing my stock holdings, it is clear that my portfolio is still lacking tech, health, and consumer goods.
Fortunately, dividend investing is a long-term journey that I can work at over the next few decades.
Expectations For The Final 2 Quarters
If you read my financial goals for 2020, you would know that my original target was to earn $628.27 in dividends in 2020.
But that was before Covid-19 came along and obliterated the stock market.
Now, the dividend portfolio is expected to generate $565.11 annually.
Overall, the portfolio has performed exactly as expected when I made the switch to part-time. I knew there would be a period of time where I wouldn’t be able to invest as much. But my plan was to use the extra time to build another income stream through blogging. I anticipated I would still be able to grow dividend income by reinvesting dividends.
Well, it’s starting to seem as though my plan worked.
Since I began working part-time in 2019, dividend income has provided a small income stream, which allowed me to keep investing. Albeit, my portfolio is growing at a slower pace, but it has still been moving forward.
More recently, though, my income has started to increase again. In turn, I anticipate that I will able to invest a lot more during the final two quarters of the year.
Ideally, I need to push forward dividend income beyond $700 by the end of 2020.
Dividend Investing is a Fantastic Passive Income Stream
Dividend investing is an easy way to build an income stream for financial independence.
After you open a brokerage account that allows you to purchase securities, you can earn monthly income by owning shares of stocks that pay dividends. It requires some reading and research, but it’s so easy compared to alternative income streams.
For example, dividend investing is unlike owning rental properties because dividend investing requires less work, less headaches, and less responsibilities.
Furthermore, it doesn’t require a lot of money to get started.
I am earning nearly $50 per month with a low 5-figure dividend portfolio for monthly income.
Now, even if I don’t save money, my monthly income will grow, as long as I reinvest dividends and select stocks that raise dividends.
So, even though it’s not enough to live on, yet, it does add up and contribute to investing. This means that dividend investing is already contributing to a more flexible lifestyle.
Final Thoughts
In conclusion, my portfolio is expected to generate $565.11 per year.
This $79.04 less than the first quarter report. Unfortunately, projected dividend income is lower because of Coronavirus. $SU slashed its dividend, and Sir Royalty Income Fund cut its dividend.
But even during this pandemic, and even while I work part-time, dividend income has continued to supplement my income.
I have managed to survive on a part-time job over the past year while I build an income stream through blogging.
Now that my income from jobbing is on the rise again, I expect that blog income and work income will combine to boost dividend income in the final two quarters of the year.
I look forward to pushing dividend income higher.
Related Posts
Annual Income Projection – Q1 – March 2020
Dividend Income Report for May 2020 (50.58% YoY Growth)
Should Dividend Investors Use Margin?
Stocks To Buy Now – 4 Dividend Stocks For The Corona Crisis
Investing In Dividend Stocks – How To Build A Dividend Income Stream
Questions for the readers: Has Coronavirus impacted your dividend income? Do you hold any growth stocks?
I am not a licensed investment or tax adviser. All opinions are my own. This post may contain advertisements by Monumetric and Google Adsense. This post may also contains 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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