Dividend income September 2022 — Chronicling monthly dividend income to document the journey to financial independence. I am not a licensed investment advisor and this post is not investment advice. All opinions are my own.
Another month has passed, so it’s time to report how much dividend income was earned in September 2022.
Although September was an awful month for the stock market, it happened to be another record-setting month for dividend income. However, that’s not to say I wasn’t affected by the market’s wrath. Even some of my low beta positions were hit hard.
The combination of high interest rates and high inflation continued to push the market down.
Fortunately for dividend investors, though, dividend income kept on rolling in.
In this post, I will review how much dividend income was earned and discuss which companies paid dividends.
Let’s dive into the record-setting dividend income numbers for September 2022.
Dividend Income September 2022 Highlights
- Total dividend income received in September 2022 was $152.18 (new record)
- Year-over-year (YOY) dividend income grew by 51% or $51.57 compared to September 2021
- Year-to-date (YTD) dividend income is up to $1,003.97 (January to September 2022 — First year of $1,000 or more in dividends!)
- YTD dividend income is already 23% or $187.15 higher than last year’s total dividend income
- YTD dividend income is up by 80% or $447.23 compared to the first 9 months of 2021
- Quarter-over-quarter (QOQ) dividend income is up by 10% or $13.34 compared to June 2022
- All-time dividend income since June 2017 is $3,452.07
- Monthly average dividend income in 2022 is $111.55
Dividend Income September 2022 Earnings — $152.18
My investment portfolio generated $152.18 worth of dividend income in September 2022.
This represents a new all-time record for dividend income received in one month. The previous record was $138.84 in June 2022. So it’s the first time I made more than $150 in a month from dividend investing.
Compared to September 2021, this represents a 51% year-over-year growth rate. During the same month last year, $100.61 was received, which was $51.57 less. Last September also marks the first month when more than $100 was generated.
Furthermore, total year-to-date dividend income is up to $1,003.97. This marks the first year I’ve ever received at least $1,000 worth of dividends within 1 year. Compared to 2021, dividend income is already up by 23% or $187.15, with 3 months of receiving dividends to go. By the same month last year, only $556.74 was received, which was $447.23 or 80% less.
Compared to the previous quarter (June 2022), dividend income is up by $13.34 or 10%.
Overall, it was another solid month of growth. During one of the worst months for the stock market in recent memory, I had my best month ever for dividend income. It was a nice milestone to finally earn more than $150 of dividends in one month.
Stocks/REITs That Paid Dividends Or Distributions In September 2022
Twelve positions paid dividends in September 2022:
- Enbridge (Ticker: ENB)
- Fortis (Ticker: FTS)
- Suncor Energy (Ticker: SU)
- Canadian Tire Corporation (Ticker: CTC.A)
- Riocan REIT (Ticker: REI.UN)
- Johnson & Johnson (Ticker: JNJ)
- SmartCentres REIT (Ticker: SRU.UN)
- Hydro One Limited (H.TO)
- NorthWest Health Property REIT (Ticker: NWH.UN)
- Choice Properties Investment Trust (Ticker: CHP.UN)
- Corning Incorporated (Ticker: GLW)
- Savaria Corporation (Ticker: SIS)
In total, twelve stocks or REITs paid dividends in September 2022. This is up by one position since last quarter — Hydro One Limited.
As usual, Enbridge led the way as it contributed 45% of my total dividend income. Fortis came in second as it contributed 23% of this month’s dividend income. Meanwhile, Suncor accounted for a respectable 11%, and Canadian Tire added another 9%. The rest of the positions accounted for 3% or less.
Cost To Manage Portfolio YTD — $142
Unfortunately, my total cost to manage my portfolio in 2022 is up to $142. This is up significantly from a mere $37.75 last month.
Of course, this is still a fairly low cost to manage my portfolio in comparison to the MER costs on mutual funds. But $142 on commission and portfolio expenses is still a lot more than I wanted to spend.
With that said, there is a specific reason, unrelated to the market, why my portfolio costs jumped over the last month.
At the risk of divulging too much information, I bought another asset. I’m not ready to talk about it in detail yet, but it is going to affect my portfolio in a very big way.
I was very reluctant to make any changes to my portfolio, as I am proud of the progress I have made with dividend investing. However, an opportunity came up that could help my journey to financial independence over the long term.
As such, I am using this purchase as an opportunity to diversify my assets and consolidate my portfolio into my highest conviction positions.
For the record, I sold a few positions in an account that I had to pay a commission on per each trade. I had a few nice capital gains that boosted my returns YTD. But I did take a few small losses on smaller positions that I was eager to get rid of. Overall, I ended up with capital gains when factoring in all of the trades.
Outlook — $196.03 To Achieve My Original Dividend Income Target
I’m $196.03 away from receiving $1,200 in dividends this year.
At the beginning of 2022, I set a financial goal to earn at least $1,200 in dividends over the course of the year.
But a few months ago, I naively increased that target to $1,300 because I was on pace for an outstanding year.
Unfortunately, I will be forced to reduce that target back down to $1,200 worth of dividend income, which is still a significant increase over 2021.
The reason is related to the changes I mentioned above. In short, I am in the process of purchasing another asset.
This could affect my portfolio immediately in the short term over the next few months. It will also slow down the growth of my dividend income next year. The worst case scenario is that I don’t make much progress over the next year, or my dividend income is down slightly.
But as I mentioned above, over the long term, this move will put me in an even stronger position to achieve financial independence.
Dividend Income September 2022 — Final Thoughts
In summary, my investment portfolio generated a record-setting $152.18 worth of dividend income in September 2022. Twelve stocks or REITs paid dividends.
This represents a 51% year-over-year increase compared to September 2021. Moreover, it’s the first time I’ve ever earned more than $150 in one month.
As of the end of September 2022, year-to-date dividend income is up to $1,003.97. This marks the first year ever that I’ve earned more than $1,000 in one year.
Unfortunately, my costs to manage my portfolio jumped significantly over the past month for reasons that are unrelated to the current market. I sold a few positions to purchase another asset that will help my journey to financial independence over the long term. I will discuss this in more detail at a later point.
The good news is that I am still on pace to achieve my original target of $1,200 in dividends in 2022. This represents a 47% increase over last year. Considering that dividend income is already up by 23% over last year, I am fairly confident that my original target is still within reach.
Other Dividend Income Posts To Check Out
Dividend Income September 2021
All Dividend Income Updates Since June 2017
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Dividend Income August 2022 — 110% YOY Growth
