Well June went by fast didn’t it? The end of another month means another dividend report and i am pretty happy where it landed.
The tally for June came in at a nice and plump $1020.23. Can’t complain, i didn’t have to lift a finger to earn that. This time last year i managed $168.81 so i’ve improved by over 6x for the equivalent month. Good times. I had to throw a lot of cash at the portfolio to accelerate the income but things are now gaining traction. I’m now covering all my expenses apart from rent with my dividend income. My aim is to fully cover the rent within the next 5 years then it’s pretty much lift-off.
Even though June whipped by, 12 months ago feels like an aeon and i’ve come along way, many thanks again to the various bloggers ( dividend mantra, roadmap2retire etc ) for inspiring me to start my journey. If you are thinking of starting this long but fruitful journey then please have a look at the blogs mentioned.
I’m well on my way to hitting my target of somewhere between $7000 and $8000 this year for dividends and i’ve now officially beaten the annual dividends earned in 2013. There are still other stocks which haven’t contributed but the base line income is slowly rising each month ( it is around $600 give or take ).
Where did it come from? Well approximately $300 or so came from Veolia ( VE ) and that was after being taxed 30% on it. Unfortunately that means i need to send some forms off to the french government if i want to claim 50% of that tax back. I’m not sure it is worth the hassle to be honest but VE to me isn’t a major dividend grower, i just think the capital appreciation has big potential given time.
Some new stocks i purchased like BEP also contributed to the bottom line as well as a confluence of others, as a result July is not going to be as great but as long as the trend keeps up then who cares right?
I have been incredibly slack in updating the blog due to work commitments so i am hoping i can contribute a bit more during July especially as we near some very significant numbers in 3 indexes.
I continue to buy options and stocks at opportunistic times where the risk/reward is favourable, for example, i grabbed a bunch of AAPL calls again down around $89-$90 and aiming to ride those into July earnings. By doing this, i can accelerate my stock purchases and allow my dividends to compound faster. I will go into this process in more detail when i get more time but there is significant risk with this strategy especially if you are not comfortable with short-term trading.
Best of luck to everyone.
Happy Canada Day to all my fellow Canadians.