As I'm writing this post, the month of July will come to a close in just 3 days!
The temperatures remain too high for my liking as it has regularly been in the low to mid-80s here in Central Wisconsin and I'm looking forward to the fall to provide a respite from this oppressive heat.
With that aside, I'll turn to the intent of this blog post, which is to provide a rundown on my dividend income received during the month of July.
Overall, I collected $73.79 in dividends during the month of July 2020 net of the $9.21 in Robinhood Gold fees and interest on margin during the month of July.
This represents a 49.0% quarterly growth rate compared to the $49.52 in dividends that I received during the month of April 2020 and a YoY growth rate of 118.1% against the $33.84 in dividends collected in July 2019.
Factoring out the timing of a dividend payment from Simon Property Group (SPG) that skewed my dividend income higher for July, my dividends collected during the month would have been $65.99, which still represents a solid quarterly growth rate of 33.3% and a YoY growth rate of 95.0%.
Going into the specifics of my dividend income during the month, I received $60.09 in dividends in my Robinhood portfolio (from 16 companies) net the $9.21 in Robinhood Gold fees/interest on margin during the month, $13.46 in dividends from 6 companies within my Webull portfolio, and $0.24 from 11 companies in my M1 Finance portfolio.
The $24.27 increase in dividend income from April 2020 to July 2020 is as a result of the following activity within my taxable accounts:
The timing of Simon Property Group's (SPG) dividend resulted in an additional $7.80 in dividend income for the month of July.
W.P. Carey's (WPC) most recent dividend increase resulted in an extra $0.01 in dividend income for the month of July.
My March 2020 addition of 3 shares of Leggett & Platt (LEG) boosted my dividend income by $1.20 during the month of July.
My second tranche of shares of Main Street Capital (MAIN) that were also acquired in March 2020 paid dividends for the first time, which added $1.02 to my dividend income in July.
The announcement from Ventas (VTR) that it was cutting its dividend was first felt in July, which resulted in a $2.41 subtraction from my dividend income during the month (including the $0.01 reduction in my M1 Finance portfolio dividend income).
GlaxoSmithKline's (GSK) varying dividend payments resulted in $0.65 less in dividends during the month of July.
My March 2020 purchase of a share of Philip Morris International (PM) led to a $1.17 increase to my dividends collected during July.
My purchase of 2 shares of Genuine Parts Company in March 2020 resulted in a $1.58 boost in the amount of dividends that I collected in July.
The $9.21 in Robinhood Gold fees/margin interest during the month of July was a $14.20 reduction compared to the $23.41 in expenses during the month of April, leading to a significant increase in net dividend income.
My April purchase of 1 share of STORE Capital (STOR) within my Webull account helped me to collect an additional $0.35 in dividend income during the month of July.
Despite enduring a few dividend cuts this year that have wiped out about 7% of my pre-COVID-19 dividend income, my dividend income continues to hold fairly steady as I go about deleveraging from my Robinhood margin, which currently sits at just under an $1,800 balance.
In less than 2 months, I'll finally be able to return to material capital deployment in the range of $1,500-$2,000/month.
How many companies that you received dividends from during July cut or suspended their dividend since your April income report?
How has your dividend income fared on a quarterly and a YoY basis during the month of July 2020?
As always, I value your readership and look forward to reading any comments that you leave in the comment section below.
Congrats on collecting some dividends in July. It has been tough seeing all these dividend cuts & suspensions that's for sure.ReplyDelete
Haven't tallied up our July dividends yet but we should be getting around $2,300. :)
Thanks for commenting. Dividend cuts and suspensions have been hard to stomach, but at least the dividends continued to trickle in last month.
My friend says that dividends are good as long as they are paid ...ReplyDelete
That's true. It's been an especially difficult few months for many dividend portfolios out there and mine has been no exception, but that was to be expected given the unprecedented local, state, and federal governmental responses to COVID-19. Thanks for the comment.