Dividend Income Update – July 2015

I’ve completed 90 days of freedom race and it has been awesome with the great support of DGI bloggers. I’m truly blessed to be posting it from the country where Statue of Liberty stands. It stands for freedom and I hope to achieve my own financial freedom in 3000 days when I complete my race.

I’m super excited to write about my passive dividend checks that I received last month of July. They are now pouring into my bank without me lifting any fingers. So far, I’ve got 41 fantastic companies in my growing Portfolio.

I hope that this passive income report provides inspiration to all the readers out there that even when you are starting out fresh, you can still win it. Although, it is a long race: slow and steady, we can win it on our terms and time. Without further ado, here are dividends received:

The Bank of Nova Scotia (BNS) : $5.27
GlaxoSmithKline plc (GSK): $14.62
JP Morgan Chase & Co. (JPM): $2.20
Main Street Capital Corp. (MAIN): $1.75 
Altria Group, Inc. (MO): $10.40
Realty Income Corp. (O): $11.40
Phillip Morris Intl. Inc. (PM): $30.00
Reynolds American Inc. (RAI): $3.35
U.S. Bancorp (USB): $1.28
W.P.Carey, Inc. (WPC): $28.62

The Bank of Nova Scotia (BNS) has a foreign tax withholding of $0.79 and effective dividends are $4.48 = $5.27 – $0.79. I’ll be reporting total dividend from BNS going forward so that taxes do not cloud the picture. Note that these withholding taxes may not match for other DGI bloggers and are dependent upon the brokerage and the conversion rate they use.

Total passive dividend income for July: $108.89 after 90 days of race. So far, I’ve received $179.08 as passive dividend income and close to target ($30 + $60 + $90 = $180).

Instead of getting a single salary once a month, I got paid by 10 fantastic companies throughout the month, simply by owning a tiny sliver of a slice. Imagine that there are thousands of people hired by those companies and that they are working for you, rather than, you working for them. This feeling of acquiring financial freedom over 3000 days, is what drives me to keep racing and I’m sure readers alike!

Full Disclosure: Long on above mentioned stocks.

How did your passive dividend income come along in July?

Thanks for reading!

6 thoughts on “Dividend Income Update – July 2015

    • Hi PIM,

      Appreciate your comments very much! It is a great encouragement to keep me pushing. I’m glad to have achieved in few months what took few years for you. That’s a great compliment coming from you.

      Thanks for stopping by and commenting!

  1. Nice income for July. I’m happy to see your enthusiasm for DGI even though you are fresh to the game and the beginning is always slow. By the way, if you hold your Canadian stocks in a retirement account there is no withholding taxes. This is why I have my BNS, TD and RY in my ROTH.

    • Hi DH,

      Yeah! I’ve fallen in love with DGI approach 🙂 and your blog has been helpful in bouncing some ideas as well. Great to be a part of this wonderful DGI blogging community.

      That’s a great idea to put Canadian companies in IRA accounts to remove the hassle of dealing with withholding taxes.

      Thanks for stopping by and appreciate your comment!

    • Hi Tawcan,

      Appreciate the kind words. Yeah! I’m glad to hit 3 figures in dividend income, which was awesome!

      Thanks for stopping by and commenting!

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