Dividend income March 2022 — Chronicling monthly dividend income to document the journey to financial independence. I am not a licensed investment advisor and this article is not investment advice.
Another month has passed, so it’s time to report how much dividend income was earned in March 2022.
I am excited to report that I hit a new all-time record for dividend income in one month.
Despite all the noise surrounding the markets, my dividend business was able to put forth another strong performance. On top of that, my portfolio’s total returns significantly outpaced the S&P 500 over the first quarter of 2022.
In this post, I will tell you exactly how much dividend income I received in March 2022 and discuss which companies paid dividends.
Let’s dive into the highlights.
Dividend Income March 2022 Highlights
- Total dividend income in March 2022 reached a new all-time record of $125.85 in one month
- Year-over-year (YOY) dividend income grew by 44% compared to March 2021
- Year-to-date (YTD) dividend income in 2022 is $292.44 (January to March)
- YTD dividend income is up by 70% or $172 compared to the first three months of 2021
- Quarter-over-quarter dividend income is up by 9% compared to December 2021
- Forward annual dividend income grew by $42.89 in March 2022
- The portfolio is expected to generate $1,191.88 in dividends annually
- $2,740.54 received in dividends/distributions since June 2017
Dividend Income March 2022 Earnings — $125.85
My portfolio generated $125.85 worth of dividend income in March 2022.
As mentioned in the introduction, this represents a new record for one month. The previous record was $115.72 in December 2021.
Compared to March 2021, year-over-year dividend income increased by an impressive 44% or $38.38. During the same month last year, the portfolio generated $87.47.
More importantly, the rate of growth increased significantly over last year. March 2021 dividend income was only 1.5% higher than March 2020. Although I was slightly below my goal to grow dividend income by 47% in 2022, it’s nice to see that the pace of growth is picking up compared to the prior year.
Otherwise, year-to-date dividend income is up to $292.44, which is 70% or $172 more than what was earned during the first three months of 2021.
In short, the first quarter of 2022 was a major success.
Stocks/REITs That Paid In March 2022
Ten positions paid dividends or distributions in March 2022:
- Enbridge (Ticker: ENB)
- Fortis (Ticker: FTS)
- Suncor Energy (Ticker: SU)
- Riocan REIT (Ticker: REI.UN)
- Johnson & Johnson (Ticker: JNJ)
- SmartCentres REIT (Ticker: SRU.UN)
- NorthWest Health Property REIT (Ticker: NWH.UN)
- Choice Properties Investment Trust (Ticker: CHP.UN)
- Corning Incorporated (Ticker: GLW)
- Savaria Corporation (Ticker: SIS)
In total, ten stocks or REITs paid dividends/distributions in March 2022. This is down one from the prior quarter. The only reason for the change is because Park Lawn (PLC) changed its payment frequency from monthly to quarterly.
Otherwise, the only change compared to last quarter was the percentage that each company contributed.
As per usual during the March-June-September-December months, Enbridge led the way as it accounted for 53% of this month’s dividend income. Although this is still too high of a reliance, I was happy to see this percentage decline from the 55% it contributed in December. At this point, I only add one share of Enbridge per quarter through DRIP (dividend reinvestment plan).
The second largest contributor, Fortis, accounted for 26% of this month’s income. This was up by 1% compared to last quarter.
Meanwhile, the third largest contributor, Suncor, accounted for 11% of this month’s income. This was up by 2% compared to the prior quarter.
Besides the big three, the remaining seven positions contributed between 1 to 3% each.
Cost To Manage Portfolio In 2022 — $0
One of my investment goals for 2022 is to incur $0 in commission fees.
The purpose of this goal is to increase my investment returns and show that it’s possible to generate favourable returns without having to pay ridiculous management fees to advisors who care more about suits and watches.
After three month’s of investing in 2022, I can still claim that I am on pace to meet this goal. I have spent zero dollars on commission fees or management fees so far this year.
Furthermore, I am actually outperforming the S&P 500 and likely most advisors in the process. My year-to-date total returns are at 5.45% as of the end of March 2022. Meanwhile, the S&P 500 is currently down by 4.6% YTD.
Of course, short-term investment returns don’t mean much. The main reason I am outperforming is because I have been heavily invested in energy stocks like Suncor and Enbridge for years.
But it just goes to show that you don’t need to pay some advisor to lose money for you. If you enjoy investing and are willing to put in the work, it’s possible to outperform the S&P 500 without incurring any investment fees. And if you don’t want to put in the work, you can just buy an S&P 500 index fund and outperform 90% of investment advisors anyways.
For the record, I avoid paying commissions and management fees by investing through a zero-commission brokerage and I use credit card points to pay for commissions in my RRSP. My zero-commission broker is Wealthsimple and the brokerage that allows me to pay for commissions with credit card points is RBC Direct Investing.
Outlook — $907.56 To Achieve Target Dividend Income
Aside from beating the S&P 500, my goal for 2022 is to earn at least $1,200 in dividends.
This represents a 47% year-over-year increase over the $816.82 that I earned in 2021.
After March’s dividend income is factored in, I must earn at least $907.56 more to achieve this target.
Considering that the amount of dividend income received is up by 70% over the first three months of 2022, it appears I am on pace to exceed this target.
If I maintain the same rate of growth throughout the rest of 2022, I could end up with nearly $1,400 in annual dividend income.
But I don’t want to get too far ahead of myself, as I still have a long way to go.
In order to earn $907.56 more, I need to average $100.84 per month in dividends during the nine remaining months.
Although this seems like a lot, I expect to see new monthly records in June, September, and December. Furthermore, April 2022 could be my first month of back-to-back $100 months ever.
Overall, I am confident that I will meet and exceed my $1,200 target.
Forward Dividend Income Update — $1,191.88
As of March 31, 2022, my stock portfolio is expected to generate $1,191.88 annually in dividends.
This represents an increase of $42.89 since the end of February.
Since no dividend raises were reported in March 2022, income increased organically through saving and reinvesting dividends.
Portfolio Trades & Activity In March 2022
As I alluded to in last month’s dividend income update, I am finding more value in growth stocks than I am in dividend stocks as of late.
Nevertheless, I was still able to increase my forward dividend income by adding to banks and REITs.
Here is a summary of my trading activity in March 2022:
Growth Stocks (Non-Dividend Paying Stocks)
- Added to FB
- Added fractional shares of SHOP
Dividend Stocks
- Added to CM
- Added to PLC
- Initiated a position in QSR
- Added to NA
REITs
- Added to SRU.UN
- Added to REI.UN
Dividend Income March 2022 — Closing Remarks
In summary, my stock portfolio generated $125.85 in dividend income in March 2022.
This is the highest amount of dividend income I have ever received in one month.
Moreover, this represents a 44% year-over-year increase compared to March 2021.
At the end of the first quarter, I have received $292.44 in dividends and my total portfolio return is over 5%, which is well ahead of the S&P 500.
Furthermore, dividend income is 70% higher than where it was during the first three months of last year.
The portfolio appears to be on track to meet and exceed my 47% year-over-year income growth target for 2022.
Other Dividend Investing Posts To Check Out
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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