The month of April 2024 saw more and more carbon tax protests across Canada. On April 1, the provinces with the federal back stop in place saw the carbon tax increase from $65.00 per tonne to $80.00 per tonne. This increases the price of everything.
There are direct cost people would see on the type of heating fuel and on receipt when purchasing gasoline. People do not see in the indirect cost due to the carbon tax. These indirect costs are the carbon tax that the farmers, truckers, food processors, and warehouses pay in their business operations.
Families with the federal back stop in place receive a rebate called the Canadian Carbon Rebate. Canadians are paying more in carbon tax then what the rebate they receive. The federal government said 80% of Canadians will receive more money back from the rebate than they pay in carbon taxes.
The federal government released their budget during the month of April. The budget has not been passed as of this date.
The S&P500 was down 1.47% over the past month.
The S&P TSX Composite Index was down 1.42% over the past month.
Portfolio Activity
Margin Account Activity
There was no activity in this account in April 2024.
TFSA Activity
On April 11, I added to my position in Toronto Dominion Bank (Ticker symbol TD.TO). I purchased 27 shares of TD.TO at $78.03 for a total cost of $2111.85. TD Bank pays a quarterly dividend of $1.02 CAD, or $4.08 CAD annually. The yield on cost for this purchase is 5.22%.
This purchase adds $110.16 to my annual dividend income.
Shares Purchased Via DRIP
0.1259148 shares of BNS.TO @ $62.6932 for a total cost of $78.94 (Transfer Agent)
2 shares of TD.TO @ $81.42964 for a total cost $162.86 (TFSA)
1 unit of KMP.UN @ $17.12544 for a total cost of $17.13 (TFSA)
1 unit of SRU.UN @ $22.40804 for a total cost of $22.41 (TFSA)
5 shares of AQN.TO @ $5.87914 USD for a total cost of $40.49 CAD (TFSA)
2 units of BPF.UN @ $15.8135 for a total cost of $31.63 (TFSA)
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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 April 2024.
Dividend Decreases
There were no dividend decreases in April 2024.
Summary:
As of May 5, 2024, the total value of the portfolio is $223420.70 . This is a 0.608% decrease over last month's total.
The portfolio is estimated to produce an estimate $11028.05 CAD in dividend income over the next 12 months. This is an increase of $140.47 CAD , or 1.290%. 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.
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