Dividend Income October 2023 — $145.82 - Dividend Income Investor (2024)

Dividend income October 2023 — Documenting monthly dividend income to chronicle the journey to financial independence. I am not a licensed investment advisor and this post is not investment advice. All opinions are my own.

Hey dividend income investors.

Another month has passed, so it’s time to document my dividend income numbers and reflect on my year-to-date performance.

Exciting news: The long-awaited acceleration of dividend growth, that I have been predicting, has finally materialized!

After a modest start to the year for dividend growth, I am thrilled to announce that October 2023 produced the highest year-over-year dividend growth rate so far in 2023. Surely this is a sign that accelerated dividend growth is on the horizon.

Also worth noting, it was the third-highest month ever for dividend income and a new milestone was reached.

Of course, there are plenty of highlights to cover. First, let’s dive into the monthly highlights. Then I’ll take a closer look at October’s dividend earnings and which stocks paid dividends.

Dividend Income October 2023 — $145.82 - Dividend Income Investor (1)

Dividend Income October 2023 Highlights

$145.82 — Total dividend income earned in October 2023 was $145.82 (3rd highest month ever)
15% | $18.90 — Year-over-year (YOY) dividend income increased by 15% or $18.90 compared to October 2022 (Highest YOY growth rate this year)
$1210.85 — Year-to-date (YTD) dividend income is $1210.85
$5009.17 — Crossed $5000 in all-time dividend income. All-time dividend income since June 2017 is up to $5009.17
16% | $20.31 — Quarter-over-quarter (QOQ) dividend income increased by 16% or $20.31 compared to July 2023
16 — 16 stocks/ETFs/REITs paid dividend in October 2023
$121.09 — Average monthly dividend income in 2023 is 121.09
$4.70 — Dividend income per day in October 2023 was $4.70

Dividend Income October 2023 — $145.82 - Dividend Income Investor (2)

Dividend Income October 2023 Earnings — $145.82

My investment portfolio generated $145.82 in dividend income between October 1, 2023 to October 31, 2023. This represents a 15% year-over-year growth rate compared to October 2022. It’s the highest year-over-growth rate achieved this year. At last, the accelerated dividend growth I have been anticipating has finally arrived.

Furthermore, this is the 3rd highest month ever for dividend earnings. September 2023 currently holds the record at $159.41 earned within a one month time span.

After factoring in October’s income, year-to-date dividend income reached $1210.85. This is ahead of January to October 2022 by 7% or $79.96. I’m only $139.38 away from surpassing last year’s total dividend income.

Also worth mentioning, I reached a fairly significant milestone in October 2023. My all-time dividend income surpassed $5000 since June 2017. I have officially earned $5009.17 in dividends since I started this journey.

Stocks/REITs/ETFs That Paid Dividends In October 2023

Reminder: I am not a licensed investment advisor and this post is not investment advice. You should always seek professional investment advice from a licensed investment advisor before investing. I am only sharing what I am doing with investing. None of the stocks mentioned are recommendations to purchase investments. All opinions are my own.

Sixteen positions paid dividend income in October 2023. This is up by two since October 2022.

The bulk of this month’s dividend income was from the four largest positions — T.TO, CM, BCE, and MO. Combined, they accounted for 87% of this month’s dividend earnings.

Below is a breakdown from highest to lowest dividend payment (USD has been converted to CAD for reporting purposes):

Dividend Income October 2023 — $145.82 - Dividend Income Investor (4)

October Dividend Growth Since 2017

October has seen mostly steady dividend income growth since 2017.

Overall, dividend income has increased from $17.95 in October 2017 to $145.82 in October 2023.

Obviously, this is not enough to be financially independent yet, but $145.82 is enough to make a difference. It means I have cash to invest every month even if I don’t save money now.

Here is a breakdown of each report from September 2017 to September 2023:

Dividend Income October 2023 — $145.82 - Dividend Income Investor (5)

$17.95 — October 2017 Dividend Income

Looking Ahead — $189.15 To Reach 2023 Target

I set a modest financial goal to earn at least $1400 in dividends in 2023.

Now with only two months remaining to collect dividends, I only need to earn at least $189.15 more to achieve my 2023 target dividend income.

Broken down monthly, I must earn $94.58 per month to reach my goal.

Considering that the average monthly dividend income in 2023 has been $121.09, I expect to easily surpass my target.

Furthermore, the pace of dividend growth is finally beginning to speed up.

After a year of slower growth, due to the bulk of last year’s savings being put towards a downpayment, this year’s savings have finally put my PADI (projected annual dividend income) back on track.

I am anticipating that November’s dividend income growth rate will be up slightly, compared to this month. However, December’s growth rate will be up significantly and that growth is expected to carry over into the new year.

Dividend Income October 2023 — $145.82 - Dividend Income Investor (7)

Final Thoughts

My investment portfolio generated $145.82 in dividend income in October 2023. This represents a 15% year-over-year growth rate compared to October 2022. Furthermore, it’s the highest YOY growth rate so far this year. Also worth noting, it was the 3rd highest month ever for dividend income received since I began this journey in 2017.

After factoring in October dividend income, year-to-date dividend income reached $1210.85, which is ahead of January to October 2022 by 7% or $79.96.

Moreover, a significant milestone was achieved in October 2023 — I surpassed $5000 in dividends received. All-time dividend income reached $5009.17, including October’s earnings.

Most importantly, I was glad to see the pace of dividend income growth trending in the right direction.

Stay tuned for more exciting dividend income updates as the snowball grows!

Related Dividend Income Updates

Dividend Income October 2022

Dividend Income July 2023

All Dividend Income Updates

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Dividend Income October 2023 — $145.82 - Dividend Income Investor (2024)

FAQs

Where can I find my dividend income? ›

The dividend declared by a company is paid to the shareholders in either of the following two ways: Through the National Electronic Clearing Service (NECS), also called the ECS. By mailing the dividend warrants to the physical address of the investor.

How much dividend income will I get? ›

To calculate how much you'll receive, multiply the dividend yield by the stock's par value and then multiply that amount by the number of shares that you own. For instance, if you own ten shares of preferred stock with a par value of $50 per share and a 10% yield, the dividend payment will be $50.00.

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How do you make $2000 in dividends? ›

Three high-yielding stocks that can help you generate some decent dividend income right now are Pfizer (NYSE: PFE), Bank of Nova Scotia (NYSE: BNS), and AT&T (NYSE: T). By investing $30,000 into these three stocks, you can expect to collect about $2,000 per year in dividends.

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What is an example of a dividend income? ›

The investor who bought 500 shares of stock at $5 per share for $2,500 benefited when the stock price rose. Regardless of the movement in the price of the stock, the investor benefits if Company XYX announces a special dividend of $0.10 per share. In this case, the investor has a dividend income of $50 (500 x $0.10).

How do I know if I have dividend income? ›

How do you know if you have received dividends? You will receive the dividends allotted on your shares on the payment date. This date occurs about a month after the record date.

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How do I get a dividend income report? ›

How to view TDS, dividend income and income tax refund using the AIS for Taxpayers app

Launch your smartphone's AIS for Taxpayers app and enter your 4-digit MPIN.
Now, click on “Annual Information Statement (AIS).”
Then, click on the information you want to view, including TDS, income tax refund, and more.

Mar 27, 2023

How much dividends to make $1,000 a month? ›

In a market that generates a 2% annual yield, you would need to invest $600,000 up front in order to reliably generate $12,000 per year (or $1,000 per month) in dividend payments. How Can You Make $1,000 Per Month In Dividends? Here are the steps you can take to build yourself a sufficient dividend portfolio.

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Does dividend income count as income? ›

All dividends paid to shareholders must be included on their gross income, but qualified dividends will get more favorable tax treatment. A qualified dividend is taxed at the capital gains tax rate, while ordinary dividends are taxed at standard federal income tax rates.

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How much dividends to make $500 a month? ›

Dividend-paying Stocks

Shares of public companies that split profits with shareholders by paying cash dividends yield between 2% and 6% a year. With that in mind, putting $250,000 into low-yielding dividend stocks or $83,333 into high-yielding shares will get your $500 a month.

How much do I need to invest to make $300 a month in dividends? ›

However, this isn't always the case. If you're looking to generate $300 in super safe monthly dividend income (note the emphasis on "monthly" income), simply invest $43,000, split equally, into the following two ultra-high-yield stocks, which sport an average yield of 8.39%!

How much do I need to invest to make $1000 a month? ›

A stock portfolio focused on dividends can generate $1,000 per month or more in perpetual passive income, Mircea Iosif wrote on Medium. “For example, at a 4% dividend yield, you would need a portfolio worth $300,000.

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What is dividend income for dummies? ›

A dividend is a portion of a company's earnings that is paid to a shareholder. The most common type of dividend is a cash payout, but some companies will issue stock dividends. Dividends are typically issued quarterly but can also be disbursed monthly or annually.

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Is dividend tax free? ›

Yes, dividend income is taxable in India. Are there any expenses which are allowed as a deduction from dividend income under the head “income from other sources”? Yes, in the case of dividends, the amount paid as interest on any monies borrowed to invest in the shares or mutual funds is allowable as a deduction.

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How is dividend income taxed? ›

Qualified dividends are taxed at 0%, 15% or 20% depending on taxable income and filing status. Nonqualified dividends are taxed as income at rates up to 37%. IRS form 1099-DIV helps taxpayers to accurately report dividend income.

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How much money do you need to make $50000 a year off dividends? ›

This broader mix of stocks offers higher payouts and greater diversification than what you'll get with the Invesco QQQ Trust. And if you've got a large portfolio totaling more than $1.1 million, your dividend income could come in around $50,000 per year.

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How much money in dividends to make $5000 a month? ›

Invest in Dividend Stocks

The payments are considered passive income since you can collect the dividends whether you trade the stock actively or not. To generate $5,000 per month in dividends, you would need a portfolio value of approximately $1 million invested in stocks with an average dividend yield of 5%.

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How much to invest to get $3,000 a month in dividends? ›

If you were to invest in a company offering a 4% annual dividend yield, you would need to invest about $900,000 to generate a monthly income of $3000. While this might seem like a hefty sum, remember that this investment isn't just generating income—it's also likely to appreciate over time.

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Can you live off dividend income? ›

Living off dividends is a financial strategy that appeals to those aiming for a reliable income stream without tapping into their investment principal. This approach has intrigued many investors, from early-career individuals to those nearing retirement.

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