Tuesday, April 7, 2020

March 2020 Dividend Income

As I'm writing this post, the COVID-19 pandemic reached an unfortunate milestone as a virus: 1+ million infected and a heartbreaking 66,000 deaths worldwide.

In my state of Wisconsin, there are 2,112 confirmed cases and 56 deaths reported as of April 5.

Aside from writing weekly blog posts and articles, it's difficult to find an aspect of my life that remains the same in the midst of this pandemic.

While some of the outcomes have been beneficial in my case, such as being able to work from home and saving time and money in the process, other outcomes such as no Bucks basketball have been difficult to endure.

In the meantime, I am just content with the fact that none of my immediate family members have exhibited symptoms of COVID-19 to date and we are doing everything we can to get through this outbreak as millions across the world are doing as well.

With that aside, let's delve into one other factor that has remained relatively constant in my life, which is my dividend income for the month of March 2020.

During the month of March, I collected $90.31 in dividends net of the $14.95 in Robinhood Gold membership fees and interest on the margin (I'll be going over my recent decision to use a bit of margin in a couple weeks).

Adjusting for the $7.14 in special dividends received in December 2019 from my CAIBX holding when I collected $91.63 in total dividends and the PepsiCo (PEP) dividend, this represents a quarterly growth rate of 4.6%.

Against the $57.53 in dividends that I collected in March 2019 and factoring out the PEP dividend, this represents a YOY growth rate of 53.7%!

Breaking things down a bit more, I collected $48.36 in dividends from my CAIBX retirement holding, $43.21 in net dividends from the 16 companies in my Robinhood portfolio that paid dividends during the month, $13.18 in dividends from the 6 companies in my Webull portfolio that paid dividends during the month, and $0.51 in dividends from the 25 companies in my M1 Finance portfolio that paid dividends during the month.

The additional $5.82 in dividends collected during the month was as a result of the following developments in the portfolio:

Starting with the retirement account, I received an additional $6.35 in dividends from my Capital Income Builder (CAIBX) holding as a result of the continued retirement contributions from myself and my employer.

I received my first dividend from Broadcom (AVGO) since I initiated a position back in December 2019, which boosted my dividend income by $6.50 across my Webull portfolio and Robinhood portfolios.

The other activity in my Webull account was the dividend increase from Prudential Financial (PRU) in February, which added $0.30 to my dividend income.

The timing of the PEP dividend boosted my dividend income by $1.91.

The purchase of shares in Digital Realty Trust (DLR) last December added another $3.36 to my dividend income.

My purchase of shares in L3 Harris Technologies (LHX) in November 2019 and the dividend increase in February resulted in a $1.70 addition to my dividend income.

British Petroleum's (BP) dividend increase announced earlier this year increased my dividend income by $0.06.

Sticking with the trend of dividend increases, Home Depot's (HD) dividend increase announced in February generated an extra $0.14 in dividend income during the month.

Yet another dividend increase for me was the increase announced by Dominion Energy (D) last December, which boosted my dividend income by $0.09.

Realty Income's (O) dividend increase announced in January added $0.02 to my dividend income during the month.

Amgen's (AMGN) dividend increase announced in December boosted my dividend income by $0.15.

Rounding out dividend increases that boosted my dividend income during the month is the increase from Pfizer (PFE), which added $0.16 to my dividend income.

Robinhood Gold fees and interest on margin resulted in a $14.95 expense for the portfolio during the month of March.

The final bit of activity came in my M1 Finance portfolio. Aside from the timing of the PEP dividend which added $0.02 to dividend income, the notable activity was an increase in the dividends that I collected from my position in PRU, which also boosted my dividend income by $0.01.

Concluding Thoughts:

The portfolio continues to slowly advance and given the timing of some of my purchases where I used margin and my continued retirement contributions, I expect to surpass $100 in net dividend income in June.

As I conclude paying off my car and federal tax liabilities in the weeks ahead, I plan to use all of my disposable income to either pay off my margin or opportunistically add to positions.


How was your March in terms of dividend income?

Did you have any new dividend payers as I did with DLR, AVGO, and LHX?

As always, thanks for your readership and I look forward to reading the comments that you are free to leave in the comment section below.


  1. Well written report, Kody! And wow, nice month of dividends with $90.31! It's awesome that you expect to earn more than $100 by June. As you know, I had a record month for dividend income. It was just over $86 this past month, so our income was really close. I don't hold any of those positions you mentioned. Have a good one man.

  2. Graham,

    Thanks for reading and your support the past year and change! It's encouraging to see that I haven't had to endure any material dividend cuts as of yet through an unprecedented shutdown of much of the global economy.