On Tuesday we finally received Main Street Capital dividends, 19,56 €. Delay was 13 days. On the same day we received 8,13 € dividends from MSC Industrial Direct Co. On Thursday we received 23,10 AUD dividends from Clime Capital Ltd which is 14,05 €. On Friday we received 19,97 CAD dividends from Transalta Renewables Inc which is 12,56 €. We failed to receive LTC Properties dividends.
In last week of July we increased our position in Royal Bank of Canada by 14 shares @92,84 CAD. This will increase our 2020 income approximately by 6 €.
The ECB has instructed the European banks not to pay dividends in 2020 due the insecurities caused by COVID-19. If Nordea will follow this recommendation we will not reach our 2020 target. We cannot increase our positions so much in so short time that we could cover the gap caused by loss of Nordea dividends. We will do our best to get as close as possible, but it is almost certain that we will not reach the target. We set target for the dividends for 2021. New target is 6200 €, which means 17% increase in target and 22% increase to projected 2020 dividends
In July we managed to collect 384,09 € passive income. A bit less than we expected. We start to fall behind and target seems to slip too far to reach. We knew the target was ambitious and then COVID-19 happened. Some of the risks realized, but that is life.
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