Dividend Income February 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.
Another month has passed, so it’s time to report how much dividend income was earned in February 2022.
Fortunately, I was able to follow up January’s robust year-over-year (YoY) growth with another strong performance.
In this post, I will discuss how much dividend income I received in February 2022 and look at which companies paid dividends.
Let’s dive in.
Dividend Income February 2022 Highlights
- Total dividend income grew by 84% year-over-year to $76.33
- Year-to-date dividend income in 2022 is $166.59
- YTD dividend income is up by 97% or $82.06 compared to the same point in 2021
- Quarter-over-quarter dividend income increased by 14.71%
- Exceeded my 47% YoY dividend growth target by 37%
- Dividend/distribution raises were announced by 3 holdings — (REI.UN | CSCO | GLW)
- Forward annual dividend income grew by $20.47
- The portfolio is expected to generate $1,148.99 in dividends/distributions annually
- 11 stocks/REITs paid dividends/distributions
- $2,614.69 received in dividends/distributions since 2017
Dividend Income February 2022 Earnings — $76.33
My portfolio generated $76.33 worth of dividend income in February 2022.
This represents a 84% year-over-year increase compared to the $41.54 that was earned in February 2021.
Furthermore, the rate of growth picked up significantly, as the same month last year only saw 7% YoY growth.
Best of all, I crushed my goal to grow dividend income by 47% in 2022 for the second straight month in a row. The 84% YoY growth rate is 37% higher than my goal.
As of February 28, 2022, total year-to-date dividend income is $166.59. Compared to the same point last year, dividend income is up by 97% or $82.06.
Compared to last quarter, which was November 2021, dividend income increased by 14.71%.
Overall, it’s clear that the pace of my dividend income growth is picking up. For instance, this month’s growth rate would have been the second highest rate of growth in 2021.
The increase can be attributed to a higher savings rate and more dividend income to reinvest.
Stocks/REITs That Paid In February 2022
Eleven stocks paid dividends or distributions in February 2022:
- Royal Bank of Canada (Ticker: RY)
- Abbvie (Ticker: ABBV)
- Starbucks (Ticker: SBUX)
- Riocan REIT (Ticker: REI.UN)
- National Bank (Ticker: NA)
- SmartCentres REIT (Ticker: SRU.UN)
- Apple Inc (Ticker: AAPL)
- Choice Properties Investment Trust (Ticker: CHP.UN)
- Vitreous Glass (Ticker: VCI)
- North West Health Properties REIT (Ticker: NWH.UN)
- Savaria Corporation (Ticker: SIS)
As per usual during the quarter, the bulk of my dividend income came from Royal Bank (RY). In total, Royal Bank accounted for 58% of this month’s income, which is up from the 57% that it contributed last quarter.
Of course, the main reason for the increase over last quarter was because Royal Bank recently raised its dividend. Otherwise, its contribution would have decreased.
After Royal Bank, the second largest contributor was Abbvie Inc, which accounted 14% of February’s dividend income. This position also recently hit a new all-time high and is now up approximately 30% in a short period of time.
Besides Royal Bank and Abbvie, the third and fourth largest contributors in February were Starbucks and National Bank. The coffee giant, Starbucks, accounted for 7% of this month’s total dividend income respectively. National Bank accounted for 6% of total income.
Other than that, the remaining stocks or REITs (real estate investment trusts) accounted for 4% or less of total dividend income. Although Apple is one of my highest returning positions, it accounts for a small amount of dividend income because the yield is low.
Cost To Manage Portfolio (Commission/Fees) — $0
One of my main investment goals this year is to incur zero commission costs. The purpose of this goal is to show that it’s possible for average investors to invest successfully without having to pay ridiculous management fees. So far I’ve managed to accomplish this goal.
After two months of personally managing my own stock portfolio in 2022, I have spent zero dollars.
So, my net profit in 2022 is $166.59 plus unrealized capital gains.
Although most investors are down this year so far, surprisingly, my portfolio has generated unrealized capital gains. For the record, I’m beating the S&P 500 by around 9%, which is not so impressive when you consider that it’s down year to date. Nevertheless, I’ll take the win. I’m happy to be in the green and still be outperforming the S&P 500 YTD.
By transparently sharing my investment expenses, I hope other investors realize that it’s possible to avoid commission costs, mutual fund fees, and also forget about paying incompetent-product-pushing advisors absurd management fees so they can afford to buy new watches and suits.
Outlook — $1,033.41 To Achieve This Year’s Target Dividend Income
When I set my financial goals for 2022, I decided to aim for at least $1,200 in dividend income this year.
To achieve this target, my annual dividend income needs to increase by 47% over the $816.82 that was earned in 2021.
So far in 2022, it appears as though I am on pace to meet this target. As mentioned earlier, dividend income is up by 97% compared to the same point last year.
However, I still have a long way to go. I still need to earn over $200 more than I’ve earned in an entire year over the course of the next 10 months.
To be more precise, I must earn at least $1,033.41 more in dividends to reach my $1,200 target.
This means I must generate at least $103.34 per month during the remaining 10 months of 2022.
Based on my forward annual income, I still think this goal will be achieved.
Forward Dividend Income Update — $1,148.99
As of February 28, 2022, my stock portfolio is expected to generate $1,148.99 per year in dividends.
This is up by $20.47 since the end of January 2022.
Forward dividend income increased because of a combination of saving money and through dividend raises.
Although the amount of money saved in February was less than usual, three dividend raises were announced from RioCan (REI.UN), Cisco (CSCO), and Corning Inc (GLW).
RioCan announced a 6.25% raise to its monthly distribution. Although it is still below their pre-pandemic level, it’s a welcome sight to finally see the distribution higher again.
In addition, Cisco hiked its dividend by 3%, and Corning declared a hefty 12.5% dividend raise.
Otherwise, forward dividend income grew organically through saving and investing.
Portfolio Trades & Activity In February 2022
Despite the amount of volatility in the stock market, it still has been difficult to find attractively priced dividend stocks as of late. As such, I have been forced to look at growth stocks since the Nasdaq has been hit the hardest.
Frankly, most of my defensive dividend stocks have held up well over the past few months. Abbvie hit a new all time high, energy stocks are up, and many of my other positions are still trading at higher earnings multiples based on Ben Graham principles.
Of course, I have continued to dollar cost average into the best priced stocks every payday. But I am becoming more selective with my purchases.
To my own surprise, I invested in a controversial growth stock that does not pay a dividend. After spending a significant amount of time researching, it appeared to be one of the best priced stocks available, so I initiated a position.
Below is a brief summary of my trading activity in February 2022:
- Initiated a position in FB (Meta)
- Added to SU
- Added to FTS
- Bought more fractional shares of SHOP
- Added to NWH.UN
- Added to T.TO
- Averaged down on PLTR
- Added to VCI.V
Dividend Income February 2022 — Closing Remarks
In summary, my stock portfolio generated $76.33 worth of dividend income in February 2022.
This represents a 84% year-over-year increase compared to February 2021.
Moreover, year-to-date dividend income is $166.59, which is up by 97% compared to the same point last year.
More importantly, dividend income growth continued to exceed my 47% year-over-year growth target for the year.
Despite the recent stock market volatility, it’s nice to know see dividend income growth continuing to accelerate.
Stay tuned for next month, as a new all-time record for dividend income is expected.
Related Articles On Dividend Income Investing To Check Out
All Dividend Income Updates Since 2017
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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