Dividend Investing Strategy for Financial Independence – Aug 2023

We want to Retire Early with Dividends and since 2019 we have been building our Dividend Investing Strategy for Financial Independence with Dividend Income. Here are the results for August 2023.

What are Dividends?

Here’s an excerpt from Wikipedia:

A dividend is a distribution of profits by a corporation to its shareholders. When a corporation earns a profit or surplus, it is able to pay a portion of the profit as a dividend to shareholders. Any amount not distributed is taken to be re-invested in the business (called retained earnings). The current year profit as well as the retained earnings of previous years are available for distribution; a corporation is usually prohibited from paying a dividend out of its capital. Distribution to shareholders may be in cash (usually a deposit into a bank account) or, if the corporation has a dividend reinvestment plan, the amount can be paid by the issue of further shares or by share repurchase. In some cases, the distribution may be of assets.

Passive Income Breakdown

EMA.TOEmera Inc690.00
RY.TORoyal Bank of Canada438.75
BMO.TOBank of Montreal735
POW.TOPower Corp682.50
AW-UN.TOA&W Income Fund30.03
HDIV.TOHamilton HDIV870.48
HYLD.TOHamilton HYLD645.12

Dividend Investing Strategy for Passive Income – August 2023 video

Dividend Investing Strategy: Summary

  • Year to date, our dividends and distributions paid us $31,470.26 dollars. Our initial goal was to achieve $40,000 dollars in 2023. As you can see, we are not far away, and mid-year, decided to bump it up to $60,000 dollars. It is certain that we won’t achieve the $60,000 dollars in dividends in 2023, however, we will get there at some point in 2024
  • BMO and Royal Bank increased its dividends, which is good news, despite the fact inflation and interest rates are still way up. We hope Bank of Canada won’t increase interests again, but this is out of our control. All we can do is keep investing and finding ways to make, save, and invest money on our Journey to Financial Independence.
  • We are at this stage because of  persistency, consistency, the community we are building, and the professional services we use, including the fee-only financial planner, our accountant, the comments, e-mails, and interactions with our community and 5i Research. We leverage their experience and see what’s “out there”. If you are interested,  you will have a 25% discount and 14 day trial – money back guaranteed.