Portfolio Update - February 2024

The month of February 2024 was a whirlwind.  The Russian-Ukraine war is still ongoing. The war is now into its third year, and will not likely end anytime in the near future.

The situation involving Israel and the Gaza likely will not end in the near future.  

The issue in the Red Sea is also ongoing.  This has affected world trade and fuels inflation, which has already been increasing for other reasons.  Cargo ships are going around the south part of Africa to get to European markets and the east cost of North America.  Travelling around the southern section of Africa involves extra cost and extra time.  

In Canada, the Alberta government's pause on new renewable projects ended.  The Alberta government has come out with rules for the approval of new renewable energy projects.  Basically, the Alberta government made it more difficult to get approved for building renewable energy projects in the province.   

The S&P500 was up 3.93% over the past month.  

The S&P TSX Composite Index was up 3.26% over the past month.

Portfolio Activity

Margin Account Activity

There was no activity in this account in February 2024.

TFSA Activity

On February 1, Meta Platforms initiated a quarterly dividend of $0.50 USD per share.

On February 5, I started a position in SmartCentres Real Estate Investment Trust.  I purchased 175 units of SRU.UN at $24.08 per unit for a total cost 4219.21 including commissions.  Currently, SmartCentres REIT  pays a monthly distribution of $0.15417 per unit monthly, or $1.85004 per unit annually.  The yield on cost for this purchase is 7.67%.

This purchase adds 323.76 CAD to my annual dividend income.

On February 8, I added 60 shares of TD Bank at $79.00 per share for a total cost of $4745.16 including commissions.  Currently, TD Bank pays a a dividend of $1.02 CAD per share quarterly, or $4.08 per share annually.  The yield on cost for this purchase is 5.16%.

This purchase adds 244.80 CAD to my annual dividend income.

On February 28, I added 104 shares of Brookfield Renewables Corporation at $32.30 per share for a total cost of $3364.15 including commissions.  Currently, Brookfield Renewables Corporation (BEPC.TO) pays a dividend of $0.355 USD per share quarterly, or $1.42 USD per share annually.  At the time of this writing, $1.42 USD dividend per share annually is equivalent to $1.93 per share in Canadian dollars.   Using the Canadian dollar equivalent, the yield on cost for this purchase is 5.97%.

This purchase adds $200.72 CAD to my annual dividend income, at the time of this writing. 

Shares Purchased Via DRIP

1 shares of EMA.TO @ $47.55628 for a total cost of $47.56 (Margin)

1 unit of KMP.UN @ $19.44039 for a total cost of $19.44 (TFSA)

2 units of BPF.UN @ $15.6035 for a total cost of $31.21 (TFSA)

Emera pays a quarterly dividend of $0.7175 CAD per share quarterly, or $2.87 per share annually.  This drip adds $2.87 CAD to my annual dividend income.  The yield on cost for this drip is 6.03%.

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 3.60%.

Boston Pizza Royalties Income Fund (BPF.UN.TO) pays a distribution of $0.113 CAD per unit monthly, or $1.356 CAD per unit annually.   This drip adds $2.71 CAD to my annual dividend income.  The yield on cost for this DRIP is 8.69%.

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 February 2, 2024,  Brookfield Renewables Corporation (BEPC.TO) increased their dividend from $0.3375 USD to $0.355 USD per share quarterly, or from $1.35 USD to $1.42 USD per share annually. This is an increase of 5.19%.  

At the time of this increase, I owned 12 shares of BEPC.TO.  This increase adds $0.84 USD to my annual dividend income.  At the time of this writing, this is equivalent to $1.14 Canadian dollars. 

The same increase also applies to Brookfield Renewable Partners LP  (BEP.UN).  I currently own 141 units of BEP.UN.  This increase adds $9.87 USD to my annual dividend income.  At the time of this writing, this is equivalent to $13.40 Canadian dollars. 

On February 8, Bell Canada Enterprises (BCE.TO) increased their dividend from $0.9675 CAD to $0.9975 CAD quarterly, or from $3.87 CAD to $3.99 CAD per share annually.  This is an increase of 3.10%. 

I currently own 350 shares of Bell Canada Enterprises.  This increase adds $42.00 CAD to my annual dividend income. 

On February 13, Riocan REIT increased their distribution from $0.09 CAD to $0.0925 CAD per unit monthly, or from $1.08 CAD to $1.11 CAD per unit annually.  This is an increase of 2.78%.

I own 100 units of Riocan.  This increase adds $3.00 CAD to my annual dividend income. 

On February 13,  Restaurant Brands International increased the dividend from $0.55 USD to $0.58 USD per share quarterly, or from $2.20 USD to $2.32 USD per share annually.  This is an increase of 5.45%.

I own 135 shares of Restaurant Brands International.  This increase adds $16.20 USD to my annual dividend income.  At the time of this writing, this is equivalent to $22.00 in Canadian dollars. 

On February 14, Manulife Financial Corporation increased their dividend from $0.365 CAD to $0.40 CAD per share quarterly,  or from $1.46 CAD to $1.60 CAD per share annually. This an increase of 9.59%.

Currently, I own 132 shares of Manulife Financial Corporation.  This increase adds $18.48 CAD to my annual dividend income. 

On February 14, Boston Pizza Royalties Income  Fund  (BPF.UN) increased their distribution from $0.107 CAD to $0.113 CAD per unit monthly, or from $1.284 CAD to $1.356 CAD per unit annually.  This is an increase of 5.61%.

At the time the announcement of this distribution increase, I owed 288 units of Boston Pizza Royalties Income Fund.  This increase adds $20.74 CAD to my annual dividend income.

Dividend Decreases

There were no dividend decreases in February 2024. 

Summary: 

As of March 2 , 2024, the total value of the portfolio is $222234.27 . This is a 3.00% increase over last month's total.  

The portfolio is estimated to produce an estimate $10842.17 CAD in dividend income over the next 12 months. This is an increase of $935.33 CAD , or 9.44%. 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 approximately $120.76 CAD (excludes Meta Platforms) from dividend increases.  This is equivalent to investing $3450.29 of my own money at 3.5% yield. 

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.