Forward dividend income May 2022 — Chronicling the growth of my forward annual dividend income. My dividend business generates $1,348.37 annually. I am not a licensed investment advisor and this post is not investment advice. All opinions are my own.
I am happy to report that my dividend business made significant progress over the past month.
Seven dividend raises were announced by stocks held in the portfolio.
Furthermore, I was able to increase forward dividend income by a sizeable amount through maintaining a high savings rate.
Consequently, my portfolio is now expected to generate $1,348.37 in dividends annually.
To track dividend growth and chronicle my journey to financial independence, I publish forward dividend income reports regularly.
This report will detail my expected dividend income over a one-year period as of May 26, 2022.
Let’s take a closer look at the numbers.
Forward Dividend Income May 2022 — Highlights
- $1,348.37 annual dividend income projected per year
- $257.88 added in 2022
- 24% year-to-date growth
- 7 dividend raises were announced in May 2022
- $83.19 in annual dividend income added in May 2022
- $94.69 increase compared to last month’s report
- $46.07 added from dividend raises in 2022
Forward Dividend Income May 2022 — $1,348.37
As of May 26, 2022, my portfolio (dividend business) is expected to generate $1,348.37 annually.
On average, I receive $112.36 monthly, $51.86 bi-weekly, or $3.69 daily from dividend investing.
Just a few years ago, it was challenging to save $100 on a bi-weekly basis on my own. But now my portfolio saves $112.36 per month for me.
As a result, I have more cashflow to reinvest into dividend stocks on top of my job. This is beginning to positively affect results and is one of the reasons dividend growth is speeding up.
Dividend Income Added YTD — $257.88
My portfolio is expected to generate $257.88 more in dividends than at the end of last year.
This represents a 24% year-to-date increase.
As of December 31, 2021, my portfolio was expected to generate $1,090.49.
But thanks to a high savings rate and continuing to reinvest dividends, I was able to get closer to my goal of reaching $1,500 in annual dividend income.
To provide more context on how fast dividend income is growing, I’ve already added more in 2022 than what was added in 2017, 2019, and 2020. The most annual dividend income added in any of those years was $228.89.
With that said, I am still behind 2018 and 2021. But mainly, I want to surpass the $408.01 that was added in 2021.
Fortunately, it seems as though I am well on my way to surpassing that goal, as I only need to add $150.13 more to beat it. Considering that it is only May, I probably should have set my sights on a higher target.
Dividend Income Added In May 2022 — $83.19
Through investing money I saved and reinvesting dividends, I added $83.19 in annual dividend income in May 2022.
This is the highest month so far this year in regards to how much income was added per one month. The second highest in 2022 was April 2022, as $72.37 was added.
Otherwise, the amount of dividend income has been slowly climbing each month this year. This is a welcome pattern to see. It’s also trending higher than my projections for dividend income over 10, 15, and 20 years.
Ideally, I aim to increase annual dividend income by $40 per month because that works out to $480 per year.
But if I can continually add at least $80 per month, I will be able to increase annual dividend income by $960 per year. At this rate, I will become financially independent much faster. Hopefully I can keep it up.
Dividend Raises 2022 — $46.07 Added YTD
I was fortunate to see seven stocks announce dividend raises in May 2022.
I received raises from Telus, Suncor, Canadian Tire, Algonquin Power & Utilities, Bank of Nova Scotia, Royal Bank, and CIBC.
These dividend raises contributed $43.42 in May 2022, which is a large chunk of this year’s total dividend raises.
In total, dividend raises have contributed $46.07 of the $257.88 that has been added year-to-date.
For context, I would have to invest $1,000 at a 4.6% dividend yield to generate this much dividend income. This is the beauty of owning high-quality stocks that raise dividends annually. Once you have enough invested, quality stocks do the work for you.
For the record, dividend raises added $67.43 in 2021. Of course, I am hoping to surpass this mark in 2022.
Therefore, I need to receive another $21.37 in dividend raises to beat last year’s amount.
Portfolio Holdings — 35
Excluding cash, my portfolio consists of 35 positions.
One new position was initiated during the course of May 2022 — Nike (NKE).
Otherwise, I have just been adding to existing positions on dips to grow the portfolio.
For the most part, I am a dividend growth investor that aims to invest in high quality businesses with strong brands that lead to pricing power.
But I also hold 8 non-dividend paying positions in growth stocks and crypto.
Below is a breakdown of my portfolio as of May 26, 2022:
Top Six Stocks
- RY
- ENB
- FTS
- SBUX
- AQN
- T.TO
Canadian Dividend Stocks
- CM
- SU
- PLC
- CTC.A
- BNS
- NA
- SIS
- QSR
- VCI.V
- RCI.B
USD Stocks
- ABBV
- MO
- AAPL
- NKE
- CSCO
- JNJ
- GLW
REIT
- REI.UN
- SRU.UN
- NWH.UN
- CHP.UN
Non-Dividend Paying Growth Stocks
- FB/Meta
- PLTR
- SHOP
- WEED
- ACB
Cryptocurrency
- BTC
- ETH
- BTTC.B
Forward Dividend Income May 2022 — Final Thoughts
In summary, my dividend business is expected to generate $1,348.37 annually.
This represents a 24% or $257.88 increase compared to the end of last year.
Compared to the previous report, annual dividend income is up by $94.69.
Over the past month, $83.19 was added, which is the highest amount in one month so far this year.
Dividend raises contributed an impressive $43.42 of the $83.19 that was added in May 2022. As of May 26, 2022, year-to-date raises have added $46.07.
Ideally, my goal is to grow forward annual dividend income to $1,500 by the end of the year.
Based on the progress made over the past two months, it appears as though I am on track to easily surpass this target.
Related Dividend Posts To Check Out
Forward Dividend Income April 2022: $1,253.78
Projecting Dividend Income Over 10, 15, and 20 Years
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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Savings Rate April 2022 — 51%
