I have encountered a first for me this month, and it’s not one of those good firsts. This is the first time my monthly dividend income has declined YOY. However, net worth is still growing solidly and I’m making big strides at reducing my living expenses.
April Dividend Income
Monthly dividend income declined. It’s not something that should happen often, but on rare occasions it obviously can occur. It can come from surprise dividend cuts or random huge special dividends from the past. This month I can blame my dividend decline on BEN.
April 2018 was a great month for dividend income. The month showed solid growth but it also had a cherry on top – a special cash dividend from Franklin Resources ($BEN). Now, this wasn’t a normal special dividend it was $3 bucks per share special dividend, which is obviously HUGE! That special dividend added almost $175 to my monthly total. This month’s decline stemmed from not having that extra $175 bucks. Frankly, this isn’t something I’m worried about as it’s was a one time gift that skewed the numbers.
Enough of the excuses, let’s get to it.
This month I received $757.18 in dividend income! On average, I was paid $24.43 from 31 different companies!! This month’s dividend income is a unfortunate 5.2% DECREASE over April 2108.
To put things in dollar figures, that’s $41.57 LESS dividend income than last April! This is my first, and hopefully last, monthly dividend decrease.
Dividend Income - April 2019
|01/04/19||The Coca-Cola Co||KO||47.92|
|01/04/19||Genuine Parts Company||GPC||90.74|
|2/4/19||Iron Mountain Inc||IRM||112.83|
|2/4/19||Kimberly Clark Corp||KMB||45.32|
|11/4/19||Philip Morris International Inc.||PM||68.38|
|12/04/19||MONDELEZ INTERNATIONAL INC Common Stock||MDLZ||11.70|
|12/04/19||Johnson Controls International PLC||JCI||20.80|
|12/04/19||Franklin Resources, Inc.||BEN||18.20|
|15/04/19||Realty Income Corp||O||63.63|
|15/04/19||WP Carey Inc||WPC||10.32|
|15/04/19||Store Capital Corp||STOR||16.50|
|15/04/19||Main Street Capital Corporation||MAIN||11.00|
|24/04/19||Cisco Systems, Inc.||CSCO||17.50|
|30/04/19||JPMorgan Chase & Co.||JPM||28.00|
|30/04/19||PowerShares QQQ Trust, Series 1||QQQ||10.05|
|15/04/19||Stag Industrial Inc||STAG||14.30|
|10/4/2019||Illinois Tool Works Inc.||ITW||19.06|
|25/04/19||General Electric Company||GE||1.16|
|1/4/2019||PowerShares Preferred Portfolio||PGX||3.08|
|5/4/2019||Eastman Chemical Company||EMN||4.96|
|5/4/2019||Merck & Co., Inc.||MRK||2.75|
|15/04/19||Starwood Property Trust, Inc.||STWD||9.60|
|∑ = 757.18|
Here is a chart of my passive dividend income progress over the last 4 years.
The dividend portfolio has been updated.
April’s dividend income covers my groceries, cell phone and insurance for the month.
April Dividend Growth (Dividend Increases)
Here are the realized dividend increases I received this month.
This month I received 5 increases. All of the dividend increases were less that 10%. $CSCO won the award for largest dividend increase with a 6% raise!
Dividend Increases - April 2019
Name Ticker New Div Old Div % Increase Shares Addl Income The Coca-Cola Co KO 0.40 0.39 0.02564102564 113 4.52 Genuine Parts Company GPC 0.76 0.72 0.05902777778 119 20.23 Kimberly Clark Corp KMB 1.03 1.00 0.03 44 5.28 Cisco Systems, Inc. CSCO 0.35 0.33 0.06060606061 50 4.00 Walmart Inc WMT 0.53 0.52 0.01923076923 47 1.88 ∑ = 35.91
March’s dividend increase adds $35.91 in annual dividend income. This is among the lowest dividend growth I’ve had since starting to track eight months ago. However, this is still the equivalent of investing $1,026.00 of new money this month at 3.5%. I’ll gladly take the equivalent of a free 1k invested!
Net worth is continuing to grow as I pay off mortgages and invest in a rising stock market.
Another big cash decline this month. As we are now preparing our home for sale, we have found many things that need to be touched up and repaired around the house. Funny how that works. This month we had a chimney leak that came from the chimney pan that needed to be replaced. This plus some extra chimney stuff cost us roughly 3k!
Next month it’s going to be much worse. We have a painting crew coming in and freshening up our home. This will run us about 13k!!!! Apparently, houses are expensive to get ready to sell. We ended up putting in a similar proportion of money (to the value of the home) into our rental we sold and it worked out well. Hopefully that will be the case this time too!
This normally isn’t a section… but you may have noticed that my collections lost roughly 5% or their value. It turns out, my collection of older weapons wasn’t worth $2,000. I ended up selling them for $1,500 (as we are downsizing). I sold them in May so we’ll see the reduction of the the complete value in the next report. Kinda sad to see them go 😐
So, not a darn thing has happened with our new home. Since we are “building” a home, we can’t do anything until the city provides the permits to begin. For now we just sit and wait.
Our primary house that we’ll be selling requires some TLC to get it ready. We are repainting the complete interior walls, ceilings, cabinets and cleaning the carpets. We have a few minor tweaks to do – and some shelving to install as well as some random home customization to remove. But all in all, the hardest thing we have to do is downsize our stuff. That has been rough!
As far as the rental, our tenant is continuing to pay on time and has agreed to renew for another year. This starts in August and the tenant will now have to pay their own water bill!
Dividend income this month wasn’t fantastic. However, even with a decline, which really wasn’t due from any dividend cuts, the dividend investing strategy is still working as it should. Dividend income continues to increase organically with yearly company dividend raises while I’m also adding roughly 2 -4k each month to the portfolio.
On a personal note, we lost our 16 year old dog this month. She was a wonderful dog and will be greatly missed. It’s been difficult couple of weeks but all the home stuff has been a great distraction from the loss.
I hope you all had a fantastic month! Keep putting that money to work!