Dividend income April 2024 — Documenting monthly dividend income to chronicle the journey to financial independence. I am not a licensed investment advisor and this post is not investment advice. All opinions are my own. This post contains display ads from Monumetric.
The Dividend Income Investor blog is pleased to announce dividend income results for April 2024.
Dividend Income April 2024 Highlights
- Total dividend income earned in April 2024 was $167.59
- Year-over-year (YOY) dividend income increased by 44% or $50.93 compared to April 2023
- 2nd highest sum of dividend income ever received within one month
- 2nd highest year-over-year increase in dollar value ($50.93) so far in 2024
- Year-to-date (YTD) dividend income (January – April 2024) is up to $634.69
- YTD dividend income is up by 50% or $211.48 compared to the first four months of 2023
- Average monthly dividend income in 2024 is $158.67 (up 27% or $33.91 per month compared to 2023)
- All-time dividend income since June 2017 reached $5930.19
- Dividend income per day in April 2024 reached $5.59
- 2 dividend raises were announced by AAPL and PG
- 10 holdings paid dividends in April 2024
Dividend Income April 2024 Results — $167.59
Total dividend income in April 2024 was $167.59, which represents a 44% year-over-year increase compared to April 2023. In dollars, it’s an increase of $50.93 compared to the $116.66 received during the same month last year.
To put this month’s numbers in perspective, it was the second highest sum of dividend income ever received within one month. The previous high was $183.15 in January 2024. However, that was partially due to a special dividend payment from Costco. April 2024 is actually the highest month ever if the special Costco dividend is subtracted. Furthermore, this month’s income was the second highest year-over-year increase in dollar value ($50.93) so far in 2024.
Another positive worth noting is that the year-over-year dividend growth rate ticked up to 44%, which was double the 22% dividend growth rate achieved in March 2024.
Year-to-date dividend income has reached $634.69, which is up by an impressive 50% or $211.48 compared to the first four months of 2023. This year’s dividend income is already higher in the first four months than full year dividend income in 2020, 2019, 2018, and 2017.
On balance, quarter-over-quarter (QOQ) dividend income declined. But if the special dividend payment from Costco is subtracted, QOQ dividend income actually increased by 3% or $4.22.
After factoring in April’s dividend income, all-time dividend income since June 2017 reached $5930.19. I’m now only one month away from reaching $6000 in all-time dividend income.
Operational Highlights
Reminder: I am not a licensed investment advisor and this post is not investment advice. You should always seek professional investment advice from a licensed investment advisor before investing. I am only sharing what I am doing with investing. None of the stocks mentioned are recommendations to purchase investments. All opinions are my own.
A total of 10 holdings paid dividend income in April 2024. This is down substantially by nine positions since the previous quarter.
As I alluded to in previous reports, I reduced holdings to eliminate overlap and to focus on my best names.
Below is a breakdown of the holdings that paid dividends in April 2024:
Trades
The trend of eliminating overlap and focussing on the best names continued in April 2024, as I sold one of the dividend income investing community’s beloved ETFs, SCHD. Fortunately, I was able to realize a near 8% capital gain, excluding dividends, in the short time I held the ETF.
The proceeds from SCHD were invested in AAPL, SBUX, and TSLA. All three of these stocks were out of favour with the market at the time of purchase, which is the kind of contrarian investing I look for.
On the Canadian side, I didn’t sell any positions in April 2024. I just continued to add to existing positions.
Fortunately, I was able to add to some high quality stocks on the pullback earlier in the month. I added to FTS in the $51.90 range, and POW around $36.28.
Otherwise, it was business as usual. I reinvested dividends and savings into the following positions: T.TO, SRU.UN, FIE, REI.UN, CM, and CTC.A.
I also continued to buy fractional shares of VFV, TOI, and LMN.
Furthermore, I continued to build cash. 50% of my savings is currently being set aside in a cash account that is earning 4% interest.
Outlook
I expect full-year dividend income to be in the range of $2000, unchanged from my 2024 financial goals.
Reaching $2000 would represent a 34% year-over-year dividend growth rate compared to the $1497.18 received in 2023. This guidance means I am expecting the dividend growth rate to triple compared to the 11% YOY growth in 2023.
Based on the $634.69 received so far in 2024, I must earn at least $1365.31 more by the end of the year. Broken down monthly, I must earn at least $170.66 per month for the remainder of the year.
Based on this year’s average monthly dividend income ($158.67), I am still slightly behind. If I continue to average $158.67 per month, the portfolio will end up generating $1904.05.
Despite being slightly behind, I am still confident that I will be able to achieve my $2000 target dividend income.
To meet this target, I have already started allocating a higher percentage of my savings towards investing.
Of course, I will continue to rely on the three dividend growth levers (reinvesting dividends | dividend raises | investing new capital).
In regards to dividend raises, two dividend raises from AAPL and PG contributed to my PADI (project annual dividend income) in April. Albeit, the raise from Apple was modest and my position in PG is relatively small.
Final Thoughts
In summary, dividend income in April 2024 was $167.59. This represents a 44% year-over-year increase compared to April 2023. Also worth noting is that it was the second highest sum of dividend income ever received within one month.
Year-to-date dividend income is now $634.69, which is up by an impressive 50% or $211.48 compared to the first four months of 2023.
Moreover, my target dividend income for 2024 remains unchanged, as I still expect to receive at least $2000 in dividends by the end of the year.
Overall, it was another excellent month for the investment portfolio. In addition to tracking the dividend income, I will continue to monitor my total investment returns and compare performance to the S&P 500. My goal is to maintain an income-centric portfolio with a low-risk profile that is competitive with the S&P 500. Ideally, my portfolio will stay competitive in the good years and outperform in the down years.
Stay tuned for more exciting dividend income updates in 2024 as the snowball grows!
Related Dividend Income Updates To Check Out
Dividend Income April 2023 — $116.66
Dividend Income January 2024 — $183.15
All Dividend Income Updates Since June 2017
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 contain internal links, affiliate links to BizBudding, Amazon, Bluehost, and Questrade, links to trusted external sites, and links to RTC social media accounts.
Connect With Dividend Income Investor
Instagram: @dividendincomeinvestor_
Threads: @dividendincomeinvestor_
Pinterest: @dividendincomeinvestor
Facebook: @Reversethecrushblog
Dividend Income March 2024 — Dividend Income Investor Reports Strong Results; $160.72 (22% YOY Increase)
