Dividend Income May 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 May 2022.
Although the trend of earning $100 plus per month in dividend was put to a temporary halt, I am happy to report that triple digit year-over-year growth continued.
Furthermore, this will likely be my last month ever of earning less than $100 per month in dividends. I expect it to become the norm going forward.
But even though I earned less than $100 in dividends in May 2022, it was still a solid month of dividend earnings and growth.
In this post, I will highlight how much dividend income was earned and which stocks paid dividends.
Let’s dive in.
Dividend Income May 2022 Highlights
- Total dividend income in May 2022 was $91.55
- Year-over-year (YOY) dividend income grew by 115% compared to May 2021
- Year-to-date (YTD) dividend income is $486.73 (January to May 2022)
- YTD dividend income is up by 89% or $229.81 compared to the first 5 months of 2021
- Quarter-over-quarter dividend income is up by 20% or $15.22 compared to February 2022
- All-time dividend income since June 2017 is $2,934.83
- 8 dividend raises were announced
Dividend Income May 2022 Earnings — $91.55
My investment portfolio generated $91.55 worth of dividend income in May 2022.
This represents a 115% year-over-year increase compared to May 2021. In dollars, it represents a $48.89 increase. During the same month last year, the portfolio generated $42.66 and only grew by 2.5%. It’s nice to see the rate of growth picking up even though my portfolio value is much larger.
Although I did not earn at least $100 for the third month in a row, I expect that this will be my last month ever of earning less than a triple digit sum.
Otherwise, year-to-date dividend income is up to $486.73, which is 89% or $229.81 more than what was earned during the first five months of 2021. As I alluded to in last month’s post, I have already earned more dividend income in 2022 alone than I did during the entirety of 2018.
Moreover, year-to-date as well as the quarter-over-quarter growth rates are inching higher by the month. Quarter-over-quarter dividend income grew by 20% compared to February 2022, and year-to-date dividend income is up by 89% compared to 84% last month.
Stocks/REITs That Paid Dividends/Distributions In May 2022
Eleven stocks or REITs paid dividends in May 2022:
- Royal Bank of Canada (Ticker: RY)
- Starbucks (Ticker: SBUX)
- Abbvie (Ticker: ABBV)
- National Bank (Ticker: NA)
- Riocan REIT (Ticker: REI.UN)
- 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 this month’s dividend income was from Royal Bank. The financial services company accounted for half of May’s dividend income, which was down by 8% from the 58% it accounted for last quarter.
The only reason for the change was that because my position in Starbucks increased substantially over the quarter. Starbucks is the main stock I’ve been buying during the recent correction. In total, Starbucks contributed 18% of this month’s dividend income.
Otherwise, Abbvie contributed 12% and National Bank accounted for 6% of May’s dividend income.
The rest of the positions contributed 4% or less each.
Cost To Manage The Portfolio In 2022 — $25.13
I set a goal to incur zero collars in commission fees in 2022.
Unfortunately, I failed that goal since I ended up making a few trades over the last few months.
But I am still very focussed on keeping my fees low in relation to the size of my portfolio.
In total, I have spent $25.13 year-to-date on commission fees.
For the most part, I trade for free by using a zero-commission brokerage and by paying for trades with credit card points.
But I ended up paying $9.95 CAD per trade on two separate occasions this year now. When converted to USD, I have spent $25.13 thus far in 2022.
In comparison to the amount of dividend income received year-to-date ($486.73), this is a low price to pay.
Furthermore, I’m still beating the S&P 500 by a sizeable amount this year so far. My portfolio is actually up year-to-date overall.
Outlook — $713.70 To Achieve Target Dividend Income For 2022
My goal for 2022 is to earn at least $1,200 in dividend income by the end of the year.
This represents a 47% growth rate compared to the $816.82 I earned in 2021.
After May’s dividend income is factored in, I have $713.70 more to earn to achieve my $1,200 target.
Considering that year-to-date income is up by 89%, it appears that I am well on my way to exceeding this target.
June 2022 marks the half way point of the year, so we will find out if I’m half way to earning at least $1,200 by the end of the month.
Based on my forward dividend income projection in May 2022, I am a strong position and it is highly likely that I will end up overachieving my target.
Frankly, I am very confident that I will exceed $1,200 by a triple digit amount.
Dividend Income May 2022 — Final Thoughts
In summary, my investment portfolio generated $91.55 in dividend income during the month of May 2022.
This represents an impressive 115% year-over-year growth rate compared to May 2021. It was also the second highest month for year-over-year growth so far this year.
As of the end of May 2022, year-to-date dividend income is up to $486.73, which is 89% higher than what was received from January-to-May 2021.
Based on the performance over the first five months of 2022, the portfolio is well on its way to exceeding my $1,200 target.
Related Dividend Income Posts To Check Out
Dividend Income April 2022 — 143% YoY Growth
Dividend Income February 2022 — 84% YoY Growth
All Dividend Income Updates Since June 2017
Dividend Income May 2021 — $42.66
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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Forward Dividend Income May 2022 — $1,348.37 Projected Annually
