Dividend income January 2023 — Chronicling monthly dividend income to document my journey to financial independence. I am not a licensed investment advisor and this post is not investment advice. All opinions are my own.
As we close out the first month of 2023, it is time to reflect on my dividend income performance.
As a preface, I have been publishing monthly dividend income updates on this blog since June 2017. This will be the first installment of the 2023 series.
In this post, I will be sharing details on my January dividend earnings, as well as providing insight into my stock portfolio holdings.
In addition to sharing my January dividend income earnings, I will also be providing updates on my progress towards my financial goal of achieving $1,400 in annual dividend income by the end of 2023. By tracking my progress, I hope to hold myself accountable and provide valuable insights for others looking to increase their own dividend income.
So, without further ado, let’s dive into the numbers and see how the portfolio performed in January 2023.
Dividend Income January 2023 Highlights
- Total dividend income received in January 2023 was $95.05
- Year-over-year (YOY) dividend income grew by 5% or $4.79 compared to January 2022
- 8 stocks or REITs paid dividends/distributions
- $484.87 in capital gains were made in January 2023
- All-time dividend income since June 2017 is $3,893.37
Dividend Income January 2023 Earnings — $95.05
My investment portfolio generated $95.05 worth of dividend income in January 2023.
This represents a modest 5% YOY increase compared to January 2022. Although it’s an increase, it’s a steep drop compared to the 110% growth rate that I started off last year with.
However, this was to be expected, as I reluctantly sold off a portion of my portfolio in late 2022 to purchase a home. Hence why my target dividend income this year is only 3.7% higher than the $1,350.23 I earned in 2022. I expect a few more months of slow growth before the pace of growth begins to pick up again.
But at least I am still in position to increase dividend income over last year. The modest 5% increase is still above my target growth rate for the year. In other words, I am in position to earn more than $1,400 in dividends by the end of the year.
Unfortunately, though, my streak of $100 months has come to an end. After earning more than $100 in dividends for seven months in a row, I finally missed the mark. This could be the case for next month too. But I expect to be back to triple digit dividend income each month for good by the middle of the year.
Otherwise, I am excited to announce that my all-time dividend income reached $3,893.37 after factoring in January’s earnings. This means that I am nearing the $4,000 mark in total dividends earned. Surely this is a testament to the consistent and strategic investment style that is dividend investing.
Also worth mentioning, I realized a profit of $484.87 in capital gains during the month. I don’t trade often and I rarely buy stocks with the intention of trading them. However, I will take profits when stocks are overvalued.
Stocks/ REITs That Paid In January 2023
Eight stocks or REITs (real estate investment trusts) paid dividends or distributions in January 2023.
Below is a breakdown of which stocks or REITs paid:
- CIBC (Ticker: CM)
- Algonquin Power & Utilities (Ticker: AQN)
- Altria Group (Ticker: MO)
- SmartCentres REIT (Ticker: SRU.UN)
- Telus (Ticker: T.TO)
- NorthWest Health Care REIT (Ticker: NWH.UN)
- Cisco (Ticker: CSCO)
- RioCan REIT (Ticker: REI.UN)
Eight positions paid dividends or distributions in January 2023. This is down by six positions since the previous quarter. Again, it’s mainly because I liquidated an account to buy a property.
Unfortunately, though, it is not down by the main position that I want to sell— AQN. The troubled utility company recently slashed its dividend by 40% and the stock has taken a massive hit. To put it bluntly, it has become one of my worst trades ever. As such, I am patiently waiting for the right opportunity to sell it. I would like to swap it for more shares of Telus.
Otherwise, CIBC contributed the bulk of this month’s dividend income, as it accounted for 32%. Regrettably, the 108 shares of AQN I own accounted for 28%. Altria Group contributed 24%. Meanwhile, the remaining five positions contributed between 2 to 5%.
Outlook — $1304.95 To Reach My Target For 2023
Despite earning $1350.23 in dividends on 65% YOY growth in 2022, I decided on a lower target when planning out my financial goals for 2023.
Simply put, my portfolio had to take a step back in order to purchase a home. And I’m glad I did it, because that same condo unit I was renting is now rented to someone else for more than my mortgage payment. They literally tried to increase our rent to the same price as our mortgage is before we left.
Anyways, that’s why I am aiming for $1,400 in dividends on 3.7% YOY growth this year.
In all honesty, I hope to overachieve again. But I am keeping the bar lower because there have been so many financial changes in my life recently.
Dividend Income January 2023 — Final Thoughts
In summary, my dividend income portfolio generated $95.05 in January 2023.
This represents a modest 5% year-over-year increase compared to January 2022.
While the start of the year may not have been as strong as last year in terms of dividend income, my portfolio performance has shown other positive signs. Despite the slower start, I am still on track to reach my target dividend income.
Moreover, I realized a profit of $484.87 in capital gains and my year-to-date return bounced back substantially following last year’s downturn.
Overall, January 2023 was a successful month for my investment portfolio. I am thrilled with these results after a year of major changes and looking forward to continue monitoring my portfolio performance and dividend earnings throughout the year.
Related Dividend Income Updates
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 contains 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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