Author: Mr DDU.
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One day we want to be able to live purely off the income from our investments. The earlier this happens in our life, the better.
How will we know when this happens? How do we know if we’re getting any closer?
By tracking it of course. Each month, we’ll add up how much dividend income we’ve received. Hopefully every time we do this it will show the income is steadily increasing, bringing us closer to our goal.
Out of all the things we track, our dividend income is the most important to us.
We have started this post series from July 2015 because the Australian Tax Year/Financial Year runs from 1st July to 30th June. We have been investing for a little while before the blog and we had to start somewhere, the start of the financial year seemed like a clear fit.
If you are reading this quite a bit later than when it was posted, information in this article might not be current, please read here to find our most recent posts on dividend updates, Challenger (ASX:CGF), Suncorp (ASX:SUN) and Greencross (ASX:GXL).
In September 2015 we were paid the following in cash and franking credits:
- Challenger (ASX:CGF): $22.94 Cash and $9.83 Franking Credits. Total $32.77
- Suncorp (ASX:SUN): $35.50 Cash and $15.21 Franking Credits. Total $50.71
- Greencross (ASX:GXL) $10.35 Cash and $4.44 Franking Credits. Total $14.79
- Total: $98.27
However, we have put all 3 of these companies into the dividend re-investment plan (DRP) so we didn’t receive anything in cash. I will talk more about our thoughts about each company, their performance and our choice to re-invest in upcoming articles.
Just below is a graph showing all our dividends so far this financial year. Seeing it as visual growth is really motivating, particularly when we’ll be able to compare this year to the next.
With 3 months gone, that’s an average of $53.64 a month. Not too shabby.
So with September done and dusted, we beat our best (and only) monthly dividend income by over $30, I’m happy with that. Challenger, Suncorp and Greencross all increased their dividends compared to the same period last year and should continue increasing. All 3 businesses are going well.
It will be really exciting when our dividend income exceeds $100 in one month, but I don’t think that’s going to happen in 2015 (Spoiler: It didn’t).
$98.27 is a good amount. That’s almost 6 hours of the Australian minimum wage ($16.87 for an adult). It won’t get us near retirement any time soon, but it will definitely pay for a normal week at the supermarket.
Thanks for reading this article about our investing journey Down Under.
Onwards and upwards!