The month of March 2023 is now behind us.
The Rogers Communications deal to acquire Shaw Communications for $40.50 a share was finally approved by the federal government. This acquisition was first announced 2 years ago. As part of the acquisition, Freedom Mobile was sold to Quebecor. Freedom Mobile was the biggest part of Shaw's wireless business.
Rogers only had wireless business in Western Canada prior to this acquisition being finalized. Western Canada will now have the big 3 to chose from when choosing internet, cable, digital cable, wireline and wireless.
With Freedom Mobile being sold to Quebecor, this will make a 4th player in the telecommunications sector across more parts of the country.
In other news, Alberta will soon being heading to the polls. The election has not been formally called, but the leaders of the 2 major parties have been campaigning for months. The outcome of this coming election affects the oil and gas industry, which affects the entire country.
On April 1, the federal carbon tax was increased by $15 a tonne from $50 per ton to $65 a tonne. This will apply in Alberta, Saskatchewan, Manitoba and Ontario. On July 1, 3 eastern provinces will join this pricing. The 3 provinces will be Prince Edward Island, Nova Scotia, and Newfoundland and Labrador.
The increase in the federal carbon tax will mean things will cost more. Currently, most provinces in Canada, do not feel the full impact of this increase. This is due to provinces have offered different things from rebates on utilities, suspension of the provincial fuel tax, and other things.
Portfolio Activity
Margin Account Activity
There was no activity in the account during the month of March 2023.
TFSA Activity
On March 10, I purchased 86 shares of Telus Corporation (ticker symbol T.TO) at $26.40 per share for a total cost of $2275.65 including commissions. Telus currently pays a dividend of $0.3511 per share quarterly, or $1.4044 per share quarterly. The yield on cost of this purchase is 5.31%.
This purchase adds $120.78 to my annual dividend income.
I now own 134 shares of Telus inside my TFSA. The purchase was after the ex-dividend date, so I did not receive the dividend on the 86 new shares this past week.
On March 24, I purchased 20 shares of TD Bank (Ticker symbol TD.TO) at $76.50 per share for a total cost of $1535.02 including commissions. TD bank pays a dividend of $0.96 per share quarterly, or $3.84 per share annually. The yield on cost of this purchase is 5.00%.
This purchase adds $76.80 to my annual dividend income.
I now own 108 shares of TD Bank inside my TFSA.
Shares Purchased Via DRIP
1 unit of BPF.UN.TO @ $15.07 for a total cost of $15.07 (TFSA)
1 unit of KMP.UN @ $17.50 for a total cost of $17.50 (TFSA)
1 share of MFC.TO @ $24.38593 for a total cost of $24.39 (TFSA)
6 shares of TTNM.TO @ $2.48248 for a total cost of $14.89 (TFSA)
1 share of BEP.UN @ $31.26112 USD for a total cost of $42.27 CAD (TFSA)
3 shares of ERF.TO @ $18.70435 CAD for a total cost of $56.11 CAD (Margin)
1 share of QSR.TO @ $66.1876 USD for a total cost of $88.99 CAD (Margin)
Boston Pizza Royalties Income Fund (BPF.UN.TO) pays a distribution of $0.102 per unit monthly, or $1.224 per unit annually. This drip adds $1.22 CAD to my annual dividend income. The yield on cost for this DRIP is 8.12%.
Killam Properties REIT pays a distribution of $.058333 per unit monthly, or $0.70 per unit annually. This drip adds $0.70 CAD to my annual dividend income. The yield on cost for this drip is 4.00%.
Manulife Financial Corporation (MFC.TO) pays dividend of $0.365 CAD per share quarterly, or $1.46 CAD per share annually. This drip adds $1.46 CAD to my annual dividend income. The yield on cost for this DRIP is 5.99%.
Titanium Transportation Group (TTNM.TO) pays dividend of $0.02 CAD per share quarterly, or $0.08 CAD per share annually. This drip adds $0.48 CAD to my annual dividend income. The yield on cost for this DRIP is 3.22%.
Brookfield Renewable Partners LP pays a dividend of $0.3375 USD per quarter, or $1.35 USD per share annually. This drip adds $1.35 USD to my annual dividend income. At the time of this writing, this is equivalent to $1.83 CAD annually. . The yield on cost for this DRIP using the Canadian dollar equivalent is 4.33%.
Enerplus Corporation pays a dividend of $0.055 USD quarterly, or $0.22 USD annually. This drip adds $0.66 USD to my annual dividend income. At the time of this writing, this is equivalent to $0.81 CAD. The yield on cost for this DRIP at the time of this writing is 1.450%.
Restaurant Brands International (QSR.TO) pays a dividend of $0.54USD quarterly, or $2.16 USD annually, This DRIP adds $2.16 USD to my annual dividend income. At the time of this writing, this is equivalent to $2.93 CAD at the time of this writing. The yield on cost for this DRIP using the Canadian dollar equivalent is 3.29%.
I have some other positions with the DRIP turned on but might not have enough of a dividend to purchase a whole share.
My Enbridge position directly with the transfer agent is set up to DRIP. Around November 2018, Enbridge stopped their DRIP program. If Enbridge decides to start a DRIP, then my shares will start to DRIP again automatically.
Dividend Increases
There was no dividend increases in March 2023.
Dividend Decreases
There were no dividend decreases in March 2023.
I missed a dividend suspension that was announced in December 2022. NFI Group (ticker symbol: NFI.TO ) suspended its dividend, which you can read about here. This is now updated on the investing tab spread sheet.
Summary:
As of April 8, 2023, the total value of the portfolio is $190959.21 . This is a 1.524% decrease over last month's total.
The portfolio is estimated to produce an estimated $8019.75 in dividend income over the next 12 months. This is a increase (includes removing $42.48 dividends from NFI Group) of $201.91CAD , or 2.58%. Some of the dividends in the Canadian stocks section are paid in US dollars, which are converted to Canadian dollars.
My 200 shares of Shaw Communications still show in my account, but I should received the cash from the sale to Roger's Communications in the coming days.
Please Note: Positions in Enerplus Corporation (ERF.TO), Restaurant Brands International (QSR.TO) , Intertape Polymer Group (ITP.TO), Brookfield Renewables Corporation (BEPC.TO), and Algonquin Power and Utilities (AQN.TO) pay dividends in US dollars. Brookfield Renewables Partners (BEP.UN) pays distributions in US dollars. My investment tab spreadsheet displays the Canadian dollar equivalent within 15 to 20 minutes of real time.
Disclosure: Long aforementioned stocks
DISCLAIMER
I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice. Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.
