The month of May 2023 is now behind us.
The prices of groceries continue to rise, although the price of a barrel of WTI oil is $71.74 at the time of this writing. The cost of shipping products has increased as their is still a massive shipping backlog across the world.
The FED and the Bank of Canada has not ruled out another interest rate hike. For people taking on a mortgage, a variable rate mortgage or mortgage coming up for renewal will see larger payments.
In Western Canada, we have experienced a large amount of wildfires this spring. The other side of the country is now experiencing wildfires like never before. Nova Scotia is currently battling wildfires. With real dry conditions it is difficult to but the fires out. With these ongoing fires, some highways will need to be close which affects the movement of goods across the nation.
Portfolio Activity
Margin Account Activity
There has been no activity in this account in May 2023
TFSA Activity
There has been no activity in this account in May 2023. I continue to add money to this account during the month of May 2023.
Shares Purchased Via DRIP
1 unit of BPF.UN.TO @ $16.19704 for a total cost of $16.20 (TFSA)
1 unit of KMP.UN @ $17.87 for a total cost of $17.87 (TFSA)
1 share of EMA.TO @ $58.72103 for a total cost of $58.72 (Margin)
1 share of FTS.TO @ $56.88839 for a total cost of $56.89 (Transfer Agent)
Boston Pizza Royalties Income Fund (BPF.UN.TO) pays a distribution of $0.107 per unit monthly, or $1.284 per unit annually. This drip adds $1.28 CAD to my annual dividend income. The yield on cost for this DRIP is 7.93%.
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 3.92%.
Emera Inc. (EMA.TO) pays dividend of $0.69 CAD per share quarterly, or $2.76 CAD per share annually. This drip adds $2.76 CAD to my annual dividend income. The yield on cost for this DRIP is 4.70%.
Fortis Inc (FTS.TO) pays dividend of $0.565 per share quarterly, or $2.26 CAD per share annually. This drip adds $2.26 CAD to my annual dividend income. The yield on cost for this DRIP is 3.97%.
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
Dividend Increases
On May 4, Telus Corporation increased their dividend from $0.3511 to $0.3636 CAD monthly, or $1.4044 to $1.4544 CAD annually. This is an increase of 3.56%.
At the time of this announcement, I owned 334 shares of Telus. This increase adds $16.70 to my annual dividend income.
On May 24, Bank of Nova Scotia increased their dividend from $1.03 to $1.06 CAD monthly, or $4.12 to $4.24 CAD annually. This is an increase of 2.91%.
On May 24, Bank of Montreal increased their dividend from $1.43 to $1.47 CAD monthly, or $5.72 to $5.88 CAD annually. This is an increase of 2.80%.
On May 25, Royal Bank of Canada increased their dividend from $1.32 to $1.35 CAD monthly, or $5.28 to $5.40 CAD annually. This is an increase of 2.27%.
On May 25, Canadian Imperial Bank of Commerce "C.I.B.C" increased their dividend from $0.85 to $0.87 CAD monthly, or $3.40 to $3.48 CAD annually. This is an increase of 2.35%.
These 5 companies have been increasing their dividend semi-annually for several years.
Dividend Decreases
There were no dividend decreases in May 2023.
Summary:
As of June 3, 2023, the total value of the portfolio is $194387.87. This is a 0.816% decrease over last month's total.
The portfolio is estimated to produce an estimated $7872.40 in dividend income over the next 12 months. This is an increase of $68.14CAD , or 0.873%. Some of the dividends in the Canadian stocks section are paid in US dollars, which are converted to Canadian dollars.
My annual dividend income increased by $65.50 through dividend increases. This is equivalent to investing $1871.43 CAD of my own money at a 3.5% yield.
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.
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