Dividend Income Summary: Lanny’s June 2024 Summary

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dividend income, dividend investing

This is what dividend investing is all about! Investing in dividend stocks allows YOU to earn dividend income, the best passive income stream! Bias, you better believe it.

Time to dive into Lanny’s June 2024 dividend income results! Were records set? Almost to financial freedom? One day and one month at a time!

Dividend Income

Dividend Income is the fruit from the labor of investing your money in the stock market. Further, Dividend Income is my primary vehicle on the road to Financial Freedom, which you can see through my Dividend Portfolio.

How do I research & screen for dividend stocks prior to making a purchase? I use our Dividend Diplomat Stock Screener and trade on Ally’s investment platform (one of our Financial Freedom Products) and on SoFi.

Related: Financial Freedom Products

I also automatically invest and max out, pre-tax, my 401k through work and my Health Savings Account. This allows me to save a TON of money on taxes (aka thousands), which allows me to invest even more. In addition, all dividends I receive are automatically being reinvested back into the company that paid the dividend, aka Dividend Reinvestment Plan or DRIP for short. This takes the emotion out of timing the market and BUILDS onto my passive income stream!

Growing your dividend income takes time and consistency. Investing as often, and early, as you can allows compound interest (aka dividends) to work it’s magic. I have gone from making $2.70 in a single month in dividend income to well over … $10,000+ in a single month. My dividend income record was set in December of 2021. Was it broken this month?! The power of compounding and dividend reinvestment is a wonderful component to the portfolio. Each and every month, whether big or small, I continue to report the passive income that dividend investing provides me. Why?

*Not pictured is my wife’s dividend income above*

I want to show YOU that dividend investing makes it possible to achieve financial freedom and/or financial independence. We all start somewhere, but consistently investing, compounding (reinvesting) dividends and keeping it simple, allows you to be in a significantly better position than most. Further, if I can grow this portfolio and income stream, YOU can too.

dividend income – June 2024

Now, on to the numbers… In June, we (my wife and I) received a dividend income total of $6,135.13. We did it! We crossed the $5,000 mark in June!! Glad we can repeat this, as you will see later, as this is the second time we have done that in a row for June! I believe I’ve never crossed $6,000, so this will be a first there, outside of December month-ends!

The amount and number of stocks listed below show you what it means to buy and hold for the long term. Most of the positions I have owned for YEARS, letting dividend growth and reinvestment do it’s thing. This is what dividend investing for financial freedom is all about. The passive income stream is growing at a RAPID pace.

2023 was up 24%. 6 months down in 2024 and the S&P 500 is up now at 17%+. Consumers are still showing resiliency and there seems to be no stop in spending in sight.

The fed has now paused for 9 months, as they let data and the interest rate hikes they’ve done over the last 2 years really sink in. Rates will still be higher for longer. We might see a rate cut in September. Expectations will be further rate cuts next year. Who knows, I turn off the noise and keep investing.

Here is the breakdown of dividend income for the month, between taxable and retirement (far right column, under “Retirement”) accounts. In addition, “W” means my wife’s account:

Ah… Vanguard’s High Dividend Yield ETF (VYM) is starting to show the proof in the pudding. Between my taxable dividend of $845.24 and my wife’s at $628.57, we collected over $1,450 in dividend income from Vanguard on one ETF alone. Almost to 1,500 shares here and the reinvestment came in the clutch for us, adding even more passive income.

LyondellBasell (LYB) continues to showcase their talents with a dividend increase earlier this year and I am now over $175 in dividends per quarter from them, heck yes!

Other notable dividend aristocrats and dividend kings that paid over $100 are: Target (TGT), Aflac (AFL), T. Rowe Price (TROW).

A few others are getting close, such as Johnson & Johnson (JNJ) and PepsiCo (PEP).

I also split out my retirement accounts in the far right column and the taxable account dividends are in the left two columns. The retirement accounts are composed of H.S.A. investments, ROTH and Traditional IRAs, as well as our work 401(k) accounts. In total, the retirement accounts brought in a total dividend income amount of $2,009.09 or 33% of the dividend income total. Therefore, almost all of the dividend income came from my taxable account. LET’S GO!!

Dividend Income Year over Year Comparison

2023: 2024:

Our dividend income is up… $773.14, a 14.41% increase from last year. Pumped! I’ll take it for sure. Bigger dollars mean bigger swings even with lower percentages.

What changed?

Vanguard’s VYM is what changed. We invested for another year straight, every single Monday. $550+ higher in June this year, versus June last year, making up majority of the net increase in 2024.

Really everything else was dividend reinvestment, dividend growth and possibly additional capital, such as the big jump you see with Shell (SHEL) and Archer Daniels (ADM).

Going for $7,500 next June; only thing that is in my way is.. ME!

Dividend Increases

dividend investing, dividend increases

I received 7 more dividend increases in June 2024, consistent with 1 more than last month! Which one was the best of the month?

I truly have to go with Kroger (KR) and their 10% increase. Why? With the Albertson’s deal and the expenses that go with that, I wasn’t sure how large this year and next year’s dividend increase was going to be. A double digit dividend growth increase is definitely unexpected.

Though investors did not like it, General Mills (GIS) continuing their new dividend streak was nice to see. Bravo!

In total, dividend increases created $216.25 in additional passive dividend income. I would need to invest $6,178 at a 3.50% dividend yield in order to add that income. Thank you for the increases, as I didn’t have to come up with the capital to create that form of income!

Dividend Income Conclusion & Summary

The name of the game is to apply what you learn through financial education. The next steps are to maximize every dollar for investment opportunities and live life on your own terms. Therefore, my plan is to demonstrate that dividend income can be a revenue engine. A revenue engine that allows you to take back control of your life. A revenue engine to help you reach financial freedom. Dividend investing, once you learn the right way, becomes easier and starts to immensely make sense!

Excited for the future, no doubt. Furthermore, all of the investing from last year and moves this year, shows that my aim to save 60% of my income, and making every dollar count, has provided the dividend growth.

If you are just starting out on your investment journey and you aren’t sure to start – please see the articles mentioned throughout this post. We are trying to bring you financial education and help you reach your financial goals.

Further, if you are interested in our dividend stocks to buy, dividend news, stock purchases, etc., please see our YouTube video (below), subscribe to our channel and check us out! Accordingly, we’ll help break down further investing topics not only on this blog, but by showing you through video!