The financial markets worked their way to fresh all-time highs late last week after a jobs report that handily beat expectations, sending the unemployment rate tumbling to 5.4%. Impressive earnings beats from most companies that reported earnings also helped the markets to advance.
My net dividend income in July 2021 also hit a record, which really drives home the point that dividend growth investing is a strategy that can work just about no matter what the financial markets are doing.
During July 2021, I received $108.32 in net dividends.
This represents a 21.7% quarterly growth rate against the $89.03 in net dividends collected in April 2021. Even factoring out the $12.00 in special dividends received from T. Rowe Price Group (TROW) during the month, my quarterly growth rate was still a healthy 8.2%.
Moreover, this represents a 46.8% year-over-year growth rate compared to the $73.79 in net dividends collected in July 2020. Backing out the special dividends from TROW, this still works out to a 30.5% year-over-year growth rate.
Delving into more detail, I received $98.28 in net dividends within my Robinhood portfolio from 18 companies, $9.79 from 5 companies in my Webull portfolio, and $0.25 from 11 companies in my M1 Finance portfolio.
The following activity within my taxable accounts is what led to the $19.29 increase in net dividends from April 2021 to July 2021:
I collected an extra $0.60 in dividends from Simon Property Group (SPG) during July in my Robinhood account, which was due to the company's recent dividend increase.
My net dividends received from from Leggett & Platt (LEG) increased $0.16 within my Robinhood account, which was the result of the company's dividend increase earlier this year.
I collected an extra $0.01 in my Robinhood account from W.P. Carey (WPC) due to the company's dividend increase in June.
My net dividends received from Realty Income (O) were $0.94 higher within my Robinhood account, which was the result of both a dividend increase in June and my recent purchase of an additional 4 shares of stock.
I collected an additional $0.36 from STORE Capital (STOR) in my Robinhood account, which was due to my decision to add a share of the stock recently.
My net dividends received from Philip Morris International (PM) increased $2.40 within my Robinhood account, which was the result of picking up a couple more shares of the stock in recent months.
I collected my first dividend from American Tower (AMT) in my Robinhood account since I initiated a position in the stock back in April, which helped my net dividends to increase by $3.81.
My net dividends received from GlaxoSmithKline (GSK) within my Robinhood account were $0.99 lower due to the fact that the third quarter dividend is historically lower than the second quarter dividend.
As I alluded to earlier, I collected an additional $12.00 from TROW in my Robinhood account due to the payment of its $3.00/share special dividend in July.
Several dividend increases and recent capital deployment helped me to surpass the triple-digit mark in the first month of a quarter for the first time ever! Better yet -- I anticipate that new capital deployment and more dividend increases in the near future will allow me to regularly pass the $100 threshold, even without TROW's special dividend boost going forward.
How was your July 2021 in terms of dividend income?
Did you receive any first time dividends during the month as I did with AMT? How about TROW's amazing special dividend?
I appreciate your readership and welcome your comments in the comment section below!
Great to see you continuing to make good progress Kody! How'd the first month of freelancing go? July was a solid month of dividends for us as we came up just shy of $800 across all our accounts. Still a lot of work to do but we're moving in the right direction.ReplyDelete
Thanks for the support and congrats on coming up just short of $800 in dividend income during July!ReplyDelete
Things have went well over the past 5 weeks. My pay has been moderately higher to date, which I'm pleased with considering I actually work a bit less as well.