Dividend Update - January 2024

            

The month of January 2024 is another month of dividend income landing in my accounts.  A new record of dividend income received in a single month. 

Due to becoming debt free, I changed my pay myself model. Starting the beginning of August 2021, I am paying myself 30%, just like before. This will now consist of 24% to investing, and 6% to savings.  The investment portion is going to my TFSA. Any money left over at the end of the month, I put towards investing on top of the money allocated from paying myself first. Hopefully, I can keep this up!

Update on paying myself first. At the start of August 2022, I now pay myself 35%.  This will consist of 25% to investing and 10% to savings. 

At the start of January 2024, I will now aim to allocate 27% to investing and 10% to savings. 

Note: All the dividends and totals below are in Canadian Dollars

I received a total of $1180.60 in dividend income for the month of January 2024. This represents a 2.11% increase from 3 months ago and 29.7% increase year over year.

I received dividend / distribution income from 14 different companies.

I received $0.00 in option premiums within my investment accounts in January 2024.

Below is a visual of my dividend totals for the last 5 years.

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Most of my dividend income comes from my margin account.  As more investments and DRIPs are made inside TFSA, the percentage of dividend income for the TFSA is increasing.  For this month, it was almost a 50/50 split. 

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Next, I will show the percentage of total income for each position.

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In first month of 2023, I received $910.57 in dividends. In first month 2024, I received $1180.60 in dividends. This is an increase of 29.66% YTD in 2024 over the same period in 2023. 

The graph below shows my total dividend income, as per the blog, since 2012. 

I will update my dividend income tab with the new amount. I will include my option premium income also. It is great to see money from passive income sources deposited into my brokerage account every single month.

Note: Any activity in my RRSP account is not included in these totals.

How was your dividend income for January 2024?

Disclosure : Long all mentioned securities

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.

Portfolio Update - January 2024

 The month of January 2024 was a whirlwind.  The Russian-Ukraine war is still ongoing. 

The war in the middle east involving Israel continues to escalate.  There has been lots of peaceful protests / gatherings over this war in this country.  These people want a ceasefire. 

During the month of January, the United States is now involved in the middle east attacks.  

A major shipping route is affected by all this conflict.  Cargo ships are avoiding travelling via the Suez Canal.  Instead, the ships have to either travel around the bottom of Africa or other alternate route.  This will cause delays and increase costs for goods. 

The S&P500 was up 5.76% over the past month.  

The S&P TSX Composite Index was up 1.02% over the past month.

Portfolio Activity

Margin Account Activity

On January 31, I added 130 shares of Emera Inc (Ticker Symbol EMA.TO).  I purchased 130 shares at $47.70 for a total cost of $6206.06 including commissions.  Currently, Emera pays a dividend of $0.7175 CAD per share quarterly, or $2.87 CAD per share annually.  The yield on cost for this is 6.01%.

This purchase adds $373.10 to my annual dividend income. 

As January 31 was the ex-dividend date, I will not receive the dividend for these 130 shares on the payment date in February. 

TFSA Activity

There has been no activity in this account since the last update.  

Shares Purchased Via DRIP

4 shares of T.TO @ $23.93771 for a total cost of $95.75 (TFSA)

1 unit of KMP.UN @ $18.5435 for a total cost of $18.54 (TFSA)

1 unit of BPF.UN @ $15.62691 for a total cost of $15.63 (TFSA)

5 shares of AQN.TO @ $6.11313USD for a total cost of $41.25CAD (TFSA)

1 share of TD.TO @ $82.47442for a total cost of $82.47 (TFSA)

1.280485 shares of BNS.TO @ $60.5864 for a total cost of $77.58 CAD (Transfer Agent)

Telus pays a quarterly dividend of $0.3761 CAD per share quarterly, or $1.5044 per share annually.  This drip adds $6.02 CAD to my annual dividend income.  The yield on cost for this drip is 6.28%.

Killam Properties REIT pays a distribution of $.058333 CAD per unit monthly, or $0.70 CAD per unit annually. This drip adds $0.70 CAD to my annual dividend income.  The yield on cost for this drip is 3.78%.

Boston Pizza Royalties Income Fund (BPF.UN.TO) pays a distribution of $0.107 CAD per unit monthly, or $1.284 CAD per unit annually.   This drip adds $1.28 CAD to my annual dividend income.  The yield on cost for this DRIP is 8.21%.

TD Bank pays a quarterly dividend of $1.02 CAD per share quarterly, or $4.08 per share annually.  This drip adds $4.08 to my annual dividend income.  The yield on cost for this drip is 4.95%.

Algonquin Power and Utilities  (AQN.TO) pays a quarterly distribution of $0.1085 USD per unit quarterly, or $0.434 USD per unit annually.  This drip adds $2.17 USD to my annual dividend income.  At the time of this writing, this is equivalent to $2.92 in Canadian dollars.  Using the Canadian dollar equivalent, the yield on cost for this drip is 7.09%. 

Bank of Nova Scotia pays a quarterly dividend of $1.06 CAD per share quarterly, or $4.24 per share annually.  This drip adds $5.43 CAD to my annual dividend income.  The yield on cost for this drip is 7.00%.

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

On January 23,  Canadian National Railway (CNR.TO) increased their dividend from $0.79 CAD to $0.845 CAD quarterly, or from $3.16 CAD  from $3.38 CAD annually.  This is an increase of 6.96% .

I currently own 38 shares of Canadian National Railway.  This increase adds $8.36 CAD to my annual dividend income.  

Dividend Decreases

There were no dividend decreases in Janaury 2024. 

Summary: 

As of February 4 , 2024, the total value of the portfolio is $215760.30. This is a 0.085% increase over last month's total.  

The portfolio is estimated to produce an estimated $9906.84 in dividend income over the next 12 months. This is an increase of $410.86 CAD , or 4.33%. Some of the dividends in the Canadian stocks section are paid in US dollars, which are converted to Canadian dollars.

Googlesheets is still not operating properly.  So, I had to manually enter the market value for the REITS, BEP.UN, BPF.UN, and AW.UN. 

 

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.ir financial situation and tolerance for risk.