This post may contain affiliate links. Please read our disclosure for more info.
We are now into the second half of 2017 … and our dividend portfolio of stocks continues to grow and earn our family more income.
Every month we are earning 20% to 40% more than we did during the same month a year ago. For example, just last month (June 2017), we earned 39.7% more than the same month exactly one year ago (June 2016). That is some serious growth!
And the awesome thing is that this month we did it again … July results this year were 38.2% higher than last year.
You may be wondering how in the world do we increase our income by almost 40% month after month? Well, it isn’t by luck … although we do get some help along the way. There are 3 different factors helping our income grow each month.
First, we are able to grow our portfolio (and future income) by reinvesting all of the dividends we earned … either through dividend reinvestment plans (DRiP) or through one off transactions in our Robinhood account. So the estimated $2,400 we expect to earn in dividends for 2017 will all be used to buy more stock.
Secondly, future growth is also fueled by company dividend increases, which we received 1 this past month. Getting these increases is so cool … because we didn’t have to do anything except hold onto our shares for the long term.
Finally, the majority of our dividend growth right now is driven by new investments. We have been trying to invest 20% to 25% of our income for the past 9 to 10 months. That is where most of our growth is coming from.
So … here is our dividend income portfolio results for July 2017 –
2017 July Dividend Income Summary
While it was no surprise, we recorded our highest July dividend income results this past month. It was nowhere near the record setting dividend income we earned last month … but every little bit counts!
We earned an awesome $153.50 in dividends from stocks that we own during July.
That $150+ in side income could be used to pay for a bunch of items in our monthly budget like – gas and electric bill, water bill, internet and phone bill, and a whole bunch more.
It is kinda cool to start thinking about what this monthly passive income source could be used for. Of course, we have no plans to use this income to pay off bills but rather reinvest it so we can continue to grow our dividends.
Month by month, year by year … we continue to slowly grow this sustainable income stream.
Just take a look at the growth we have seen over the past 6 years based on July dividend income results –
July 2017 Dividend Income – $153.50
We saw an increase of 38.2% last month compared to July 2016!
This latest increase shows all the new capital we have invested into the market over the past year is working very hard.
July 2017 Dividend Breakdown by Company
Overall, we had 8 stocks pay out a dividend in July. Solid dividend paying companies like Cincinnati Financial, Coca-Cola, and Lockheed Martin gave our family a paycheck for not really doing much at all. You can’t really beat that!
Recent investments in Cisco Systems (CSCO), Cincinnati Financial (CINF), and Best Buy (BBY) over the past couple of months are a big reason for these increases.
Here is the breakdown of dividend income (by stock) in July –
- Best Buy Corp (BBY) – $3.40
- Cincinnati Financial Corp (CINF) – $40.66
- Cisco Systems Inc. (CSCO) – $23.49
- Genuine Parts Company (GPC) – $3.38
- The Coca-Cola Company (KO) – $5.55
- Lockheed Martin Corp (LMT) – $53.20
- Realty Income Corp (O) – $13.32
- Sysco Corp (SYY) – $10.50
Note – All of the dividends we currently receive are reinvested into new shares of the same stock using DRiP – except those purchased through our Robinhood account.
New Capital Invested in July
Over the past 9 months, we have been focused on growing our forward annual dividend income to $3,000 by the end of 2017. We set this goal last November (2016) and have been busy investing new money into dividend stocks ever since then.
The goal requires that we invest 20% to 25% of our income … which can be difficult during certain times of the year. That comes out to around $1,400+ per month.
As you can tell below, we have been up and down with these new investments. We had several good months in a row (April to June), but fell flat in July.
Here are the new investments we made in July –
- $50.00 investment in Cincinnati Financial Corp (CINF) – .67 shares
- $93.65 investment in Cisco Systems (CSCO) – 3 shares
- $155.00 investment in CVS Health Corp (CVS) – 2 shares
- $63.90 investment in Omega Healthcare (OHI) – 2 shares
- $331.47 investment in Qualcomm (QCOM) – 6 shares
Note – All of these investments were made through our Robinhood and transfer agent (CINF) accounts … which means we did not pay any commissions or fees on these trades.
The total amount of new capital invested in July was – $694.02
Here are the new investment totals since the start of 2017 –
- July 2017 Investments – $694.02
- June 2017 Investments – $1,448.59
- May 2017 Investments – $1,232.63
- April 2017 Investments – $4,862.18
- March 2017 Investments – $988.23
- February 2017 Investments – $647.76
- January 2017 Investments – $600.42
New 2017 Investments – $10,473.83
Growing Our Dividend Income
The dividend income earned in July ($153.50) was up almost 40% from the same time last year. That is truly incredible that we have grown our dividend income by that much over the past 12 months!
On top of the growth, for the first time ever we topped $150 for the month of July. This is another little milestone that we hit and will help motivate us to keep building and growing our sustainable income stream.
All of the increases were from a combination of new investments made, dividend reinvestment’s, and company dividend increases.
Speaking of company dividend increases – we got another one this past month – Omega Healthcare (OHI) 1.6%.
Overall, that increase will boost our annual dividend income by $3.32! That is just awesome.
Our goal for 2017 is to earn $2,400 in dividend income.
We have earned a total of $1,359.73 in dividends for 2017 … which means we need to earn around $1,040 the remainder of the year. That is an average of $208 per month.
Unlike 2016, I think reaching our goal in 2017 will be challenging but within reach. Last year, we set an unrealistic goal and didn’t come close to reaching it.
As long as we keep up with our new investments, I think reaching our 2017 dividend income goals can be attained. And if all goes well, we will be on our way to reaching a goal of $3,000 in dividend income for 2018!
How was your dividend income in July?
Full Disclosure – At the time of this writing, we owned shares in the following stocks noted in this post – BBY, CINF, CSCO, CVS, GPC, KO, LMT, O, OHI, QCOM, and SYY. The material above is not a recommendation to buy. Please do your own research on a company before deciding to invest.