Today’s dividend: Royal Bank of Canada

The dividends just keep coming. Today’s payment – $0.72 for my single share of Royal Bank of Canada – was the 38th I’ve earned so far this month.

Nothing terribly special, I know, but all these small dividends are really starting to amount to something when you add them all up. The combined $42.61 I’ve earned so far in February, for example, is more than I made in all but one month last year. It’s also more than $30 more than the $11ish my portfolio pumped out last February … that’s something like a 280% gain year over year.

Royal Bank of Canada

The Canadian banks seem almost too good to be true. Almost all of them – at least the ones I’ve invested in – have amazing earnings numbers, great dividends with sustainable payout ratios, good value … I could go on and on.

Royal Bank of Canada (RY) is no exception. It has a profit margin of 26.66%, growing EPS numbers and an annualized dividend of $2.96 that comes complete with a 3.64% yield and 46% payout ratio. It’s also been growing its already-solid dividend at a rate of 8.79% over the course of the last five years.

What more could you want?

I picked up my one and only share for $71.19 back in April of 2017. It’s appreciated by almost $10 since then (a 13.63% gain).

RY makes up 0.47% of my portfolio.

Last week’s steps

Last week was another steady one for me. Friday’s dividends, coupled with Tuesday’s $0.10 payment from American Airlines and Monday’s $0.60 divi from MDC, gave me a total of $4.50 in passive income for the week. I also picked up a share of AvalonBay Communities, which boosted my forward annual dividend income by $5.88.

March on!

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