Another month has passed by, and it's time for me to post an article on my favorite subject: dividend income. The reason why I love to post articles on dividend income is because it's pure numbers. It's hard to argue the success of long-term dividend growth investing when you can slowly and surely see dividend income rise over time and get closer to covering one's expenses.
July was just another snoozer of a month where I received passive dividend income from high quality companies simply for making great decisions many yesterdays ago. The wonderful thing with dividend growth investing, and investing in general, is that making one great decision will likely reap big rewards for many tomorrows to come. Dividends are simply a gift that keeps on giving!
I hope these monthly dividend income reports provide inspiration for any investors out there that are just starting out. It's easy to see these payments rising month after month and it shows that it's possible to one day pay for monthly expenses with dividends, which would provide an investor opportunities and freedom to pursue other interests than full-time work. Without further ado:
July 2013 Dividends Received
- The Coca-Cola Company (KO) - $22.40
- Illinois Tool Works Inc. (ITW) - $13.30
- Altria Group Inc. (MO) - $22.88
- Philip Morris International Inc. (PM) - $85.00
- Realty Income Corp. (O) - $7.26
- Medtronic, Inc. (MDT) - $10.36
- Sysco Corporation (SYY) - $8.12
- The Bank of Nova Scotia (BNS) - $12.40
Total dividends received during the month of July: $181.72
Not one of my biggest months ever, but not every month will be or needs to be. The key is to build this passive income slowly and surely, and reinvest this passive cash flow selectively into attractively valued companies. The dividends then essentially buy more dividends, which fuels even more passive income which grows not only by reinvestment (buying more shares) but also organically via the dividend raises high quality companies give their shareholders. It's growth supercharged!
This was a nice improvement upon the $145.69 in dividends I received back in July 2012. This difference represents an increase of 24.7%! Onwards and upwards!
I was able to cover right about 11% of my expenses via dividends during this past month. Not bad! Another way to look at it is that I was able to pay for my groceries and my cell phone bill by way of dividends, and I still had some walking-around money left over.
My goal is to receive $3,500 in dividends during the year of 2013. We're now seven months deep into this year, and my portfolio has generated $1,905.12 in dividends so far. That means I'm 54.4% of the way to my goal just over halfway through the year. I believe I'm going to exceed my goal, so let's see how it goes!
I'll update my dividend income page to reflect July's dividends.
Full Disclosure: Long all aforementioned securities.
How was your July? Another fantastic month of dividend income?
Thanks for reading.
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