In Budget Roundups, Investing, Money

My Dividend Portfolio Update: $14,378.49 in Passive Income

If there’s interest, I’ll do more of these dividend portfolio updates, maybe quarterly? Let me know.

If you don’t let me know, I won’t do it. *shrug*

I didn’t want to do this update until the COVID-19 dust settled, so to speak because it was so high in January & February, then plummeted in March, and now is coming back up again (?) based on what numbers, I do not know because it looks like things are not going well but yet the markets are going up.

I suspect all the governments talking about slowly reopening is what is pushing the markets on bubbles of hope but that is pure speculation.

I can only focus on what I can control, and that is cold hard cash I make, to pay bills, keep my expenses low and keep investing.

ORIGINAL GOAL: $12,000 in income a year

NEW GOAL: $15,000 in income a year

My original goal was $12,000 for 2020, and even with everything happening (some dividends got cut/lowered as well), and I smashed that, so I revised it to be $15,000.

For me, this is the best time to try and snap up some of my dividend stocks I have been eying on my list for less money than what they were before at the peak.

Current Projected Yearly Income: $14,378.49

Right now this is what I have projected as what I will earn from my investments.

I am about $12,844.59 off from this goal. I should be able to make it by end of 2020.


Total invested: $397,662.28

This is the current market value of all of my investments that yield dividends in some form.

It includes my index mutual funds because even though they only give $0.80 a year per stock, I have a lot of it, and it adds up to almost $1000 in some cases.

Breakdown of Total Invested:

  • Mutual Funds: $185,839.23 = 46.73% of total invested
  • Dividend stocks: $211,823.05 = 53.27% of total invested

Average dividend yield: 4.84%

  • Mutual Funds: 2.90%
  • Dividend stocks: 5.23%

This is what I currently have as dividend stocks:

This is by NO MEANS AN ENDORSEMENT OF THE STOCKS BELOW.

I am showing you for entertainment purposes what I have in my portfolio for dividend-producing stocks.

Please do your own research.

  • ADW.A – Andrew Peller Wine
  • AQN.TO – Algonquin Power
  • ATD.B.TO – Couche-Tard
  • BAM-A-T.TO – Brookfield Asset Management
  • BEP.UN – Brookfield Renewable Partners
  • BMO.TO – Bank of Montreal
  • BNS.TO – Bank of Nova Scotia
  • CAE.TO – CAE Inc.
  • CP.TO – CP Rail
  • CSH.UN.TO – Chartwell Retirement Residences
  • EMA.TO – Emera Inc.
  • ENB.TO – Enbridge
  • FTS.TO – Fortis
  • GMP.TO – GMP Capital
  • HOT.UN.TO – American Hotel REIT
  • INE.TO – Innergex Renewable Energy
  • ITP.TO – Intertape Polymer Group
  • NFI.TO – New Flyer Industries
  • POW.TO – Power Corporation
  • QSR.TO – Restaurant Brands
  • RCI.B.TO – Rogers Inc.
  • RY.TO – Royal Bank
  • SLF.TO – Sunlife Financial
  • SIS.TO – Savaria Corp.
  • STLC.TO – Stelco
  • SU.TO – Suncor
  • T.TO – Telus
  • TD.TO – TD Bank
  • WCN.TO – Waste Connections

The Income Breakdown looks like this from my calculations:

I had to search through a bunch of sites and it is also based on old 2019 numbers, and updated where I see they increased the dividends.

Company Number of Shares Div/Share Annual Dividend
ADW.A 28 $0.22 $6.16
AQN.TO 824 $0.56 $461.44
ATD.B.TO 340 $0.28 $95.20
BAM-A-T.TO 150 $0.84 $126.34
BEP.UN 80 $2.84 $227.20
BMO.TO 100 $4.24 $424.00
BNS.TO 363 $3.60 $1,306.80
CAE.TO 121 $0.11 $13.31
CP.TO 22 $3.32 $73.04
CSH.UN.TO 1831 $0.60 $1,098.60
EMA.TO 178 $2.45 $436.10
ENB.TO 261 $3.24 $845.64
FTS.TO 87 $1.91 $166.17
GMP.TO 2062 $0.10 $206.20
HOT.UN.TO 806 $-  Suspended $- Suspended
INE.TO 13 $0.72 $9.36
ITP.TO 98 $0.82 $80.62
NFI.TO 180 $1.30 $234.00
POW.TO 1187 $1.79 $2,124.73
QSR.TO 53 $2.08 $110.24
RCI.B.TO 180 $2.00 $360.00
RY.TO 181 $4.32 $781.92
SLF.TO 200 $2.20 $440.00
SIS.TO 3 $3.83 $11.49
STLC.TO 554 $0.40 $221.60
SU.TO 5 $0.84 $4.20
T.TO 221 $1.17 $257.47
TD.TO 70 $3.16 $221.20
VAH.TO 31 $0.72 $22.32
VCE.TO 717 $1.12 $803.04
VDU.TO 988 $0.89 $879.32
VFV.TO 1068 $1.16 $1,238.88
VTI 339 $2.63 $892.82
WCN.TO 50 $1.04 $52.00
XEG.TO 613 $0.25 $153.25

Note: Some of the index fund dividend amounts are just based off my 2019 payout amounts. It could change for this year, as it tracks a bunch of different stocks within one fund.

Year to date the breakdown has been this:

Year to date: $5340.10

Average dividend income = $1335.02

  • January: $2139.95
  • February: $621.83
  • March: $1424.14
  • April: $1154.18

I reinvest all of it back into buying more stocks.

Investments and my reasoning

I have more money invested than this total amount, but those other stocks are not dividend-yields at all, and are just for capital gains or general growth (example: GIB.A.TO or CGI)

Some are bigger positions than others, and I still have to go through my list of what else to buy (I have so many more I want..)

There are some I’d like to buy more of, and new ones I’d like to have a position in. My original dividend buying short list is here.

I am constantly changing this list in my head and on my phone, so while most of them stayed on my list, some of them fell off like a few of the REITs.

All in red is what I own from my original list

Ticker Name Low High Dividend
TRP.TO TC Energy Corporation 49.02 67.27 4.48%
NA.TO National Bank 54.37 65.39 4.21%
GSY.TO Go Easy Financial 30.42 59.81 2.20%
CAR.UN.TO Canadian Apartment REIT 43.03 54.65 2.59%
AQN.TO Algonquin Power 12.57 18.09 4.19%
CM.TO CIBC Bank 97.55 125.21 5.27%
CAE.TO CAE 22.1 36.86 1.30%
EMA Emera Corp 38.09 58.57 4.13%
CP.TO Canadian Pacific Railway 228.35 323.71 1.08%
ATD.B.TO Couche Tard 60.03 88.4 0.62%
TD.TO TD Bank 65.56 80.05 3.91%
RUS.TO Russel Metals 18.47 28.2 6.93%
STLC.TO Stelco 10.57 23.43 3.24%
RY Royal Bank 90.1 107.91 3.97%
DRG.DB.TO Dream Global REIT 11.58 16.6 4.15%
IIP.UN.TO Interrent REIT 11.26 16.22 1.85%
SU.TO Suncor Energy 35.53 52.06 3.95%
FN.TO First National Financial 25.38 37.93 5.10%
QSR.TO Restaurant Brands Intl 68.34 105.93 2.72%
FTS.TO Fortis 40.71 55.45 3.43%
SLF SunLife Financial 43.13 58.74 3.59%

What I have struck off that list:

The ones that are dark blue, are still on my list, but am not buying more of them because I am trying to diversify industries.

Ticker Name Low High Dividend
TRP.TO TC Energy Corporation 49.02 67.27 4.48%
NA.TO National Bank 54.37 65.39 4.21%
GSY.TO Go Easy Financial 30.42 59.81 2.20%
CAR.UN.TO Canadian Apartment REIT 43.03 54.65 2.59%
AQN.TO Algonquin Power 12.57 18.09 4.19%
CM.TO CIBC Bank 97.55 125.21 5.27%
CAE.TO CAE 22.1 36.86 1.30%
EMA Emera Corp 38.09 58.57 4.13%
CP.TO Canadian Pacific Railway 228.35 323.71 1.08%
ATD.B.TO Couche Tard 60.03 88.4 0.62%
TD.TO TD Bank 65.56 80.05 3.91%
RUS.TO Russel Metals 18.47 28.2 6.93%
STLC.TO Stelco 10.57 23.43 3.24%
RY Royal Bank 90.1 107.91 3.97%
DRG.DB.TO Dream Global REIT 11.58 16.6 4.15%
IIP.UN.TO Interrent REIT 11.26 16.22 1.85%
SU.TO Suncor Energy 35.53 52.06 3.95%
FN.TO First National Financial 25.38 37.93 5.10%
QSR.TO Restaurant Brands Intl 68.34 105.93 2.72%
FTS.TO Fortis 40.71 55.45 3.43%
SLF SunLife Financial 43.13 58.74 3.59%

My updated list of what else to buy is this now:

Ticker Name Low High Dividend
NA.TO National Bank 54.37 65.39 4.21%
CM.TO CIBC Bank 97.55 125.21 5.27%
FN.TO First National Financial 25.38 37.93 5.10%

And a bigger position in these 2:

  • ADW.A – Andrew Peller Wine
  • CP.TO – Canada Pacific Rail

I have to still go through this other list — the S&P 500 Dividend Aristocrat list as a starting point. They also have international versions of them.

These are the top 10 from the S&P/TSX List:

What I own is in green.

Constituent Symbol Sector*
TransAlta Renewables Inc. RNW Utilities
Enbridge Inc ENB Energy
Fiera Capital Corporation FSZ Financials
BCE Inc BCE Communication Services
North West Company Inc. NWC Consumer Staples
Choice Properties REIT CHP.UN Real Estate
Transcontinental Inc. A SV TCL.A Industrials
Laurentian Bank of Canada LB Financials
Capital Power Corp CPX Utilities
Innergex Renewable Energy Inc INE Utilities

I wouldn’t just take these stocks at face value. I also research into each one individually as I want to have a capital gain as well.

Just because they raise their dividends every year consistently doesn’t make up for the fact that the actual stock itself fell over that period of time.

Lots of other 100% dividend investors are obsessed with stocks, and here’s a great list to start with: Canadian All-Star List.

NOW IS THE TIME TO RESEARCH!

This is a GREAT TIME to see who has survived the ‘fall’ with dividends coming down from a market high, to this dip/correction due to the virus.

Every stock looks hot when everyone is doing well and the market is up.

It is a lot harder to do well when the market is down.

What I am interested in, are stocks that do well when markets are down, and doomsday (pandemic) has occurred. And WHY. I mean, some are very obvious — you need to have homes running with gas and electricity, so utilities are still good.

Obviously not every market drop will keep these companies from failing, but it is a good litmus test, amongst reading their financials and other things.

Going to start investing in $USD if I can…

I was avoiding it because it was ridiculous that I pay a 30% withholding tax (ARRRRGH) but compared to the gains you can get on stocks and dividends paid? It pays for itself in the long-run.

I’d like to start buying $USD dividend stocks with the money I get from my blog and advertising, as I get paid in $USD and it kills me each time I take the 2.5% currency conversion hit.

I was looking to try and transfer my $USD into my $USD savings account but I can’t open an account in Canada without going there in person to verify it. So. Yeah. Until this COVID-19 thing is over, I will just stash all my $USD and wait.

I need to work on figuring out how to transfer USD to a USD account here in Canada.

I limit it to $5000 – $10K capital in a stock

I tend to aim for the $5000 – $10,000 range in market value of each, and then I stop and move on to another stock to limit risk, diversify and gain a position elsewhere.

I reinvest all of the money from dividends back into buying more, but lately I have stopped the DRIP actually been taking that dividend income and buying new dividend stocks to gain a position in them, since I do not have a 5-figure income every month to just sock towards investments.

I don’t 100% follow this rule, some bank stocks I own are in the $20,000 range.

Eventual Goal: $50,000 dividends a year or $1.033M invested capital

If I keep my dividend yield under 5% (around 4.84%), my eventual goal of $50,000 a year in income will require a total capital investment of $1.033M

That would be my dream! Can you imagine a side income, truly passively cranking out $50K a year? Sweet.

That’s why I reinvest all of my dividend income (the $14K-ish that I have), because each time I reinvest it back into buying more stocks, my total capital invested gets bigger and bigger, and the dividends start paying for themselves and stacking up.

As I only have $397,662.28 in dividend capital, I am off by $635,395.57.

I could get there in 10 years, depending on how things go with contracts.


Or not. I am not TOO hung up on $50K as my dividend income, it’s just a goal I have stashed at the back of my mind for investing which also dovetails nicely with my other secret (not so secret) dream goal of $1M in investments (no house, no car, no cash included).

So I have some ways to go.

As long as the direction is up, I’m all good.

Thoughts? Questions?

P.S. — If you’re not quite there yet in the passive income part with enough invested to have a dividend income, here are some other passive income ideas to earn money in Canada.

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Sherry of Save. Spend. Splurge.

Millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using TheBudgetingTool.com. Since then, I have paid my $600K home in cash (my half was $300K), my $180K casr in cash, worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K with an average lifetime savings rate of 50%. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. I also post daily on Instagram @saverspender.

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Posted on February 12, 2019

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9 Comments

  1. Amanda

    Great job!
    Please continue with your dividend updates, I’m super far behind you, but it is a great stimulus for me.

    Reply
    1. Sherry of Save. Spend. Splurge.

      Okay 🙂 Maybe I’ll do them monthly in part of the net worth roundup

      Reply
  2. Desire

    How does your dividend income affect your tax liability?

    Reply
    1. Sherry of Save. Spend. Splurge.

      For up to $30K I pay $768 in taxes in Quebec for eligible dividends. So… great. 🙂

      Reply
  3. GYM

    Oops, we are not very close anymore haha! I still had my old Suncor yield on my spreadsheet, it got slashed by 55% and so now I am around 13400!

    Reply
  4. GYM

    PS- just one suspension/ reduction in dividends- that’s excellent! I have had three so far.. Husky, Suncor, and KEG.UN

    Reply
    1. Sherry of Save. Spend. Splurge.

      For SU, I did not actually buy them until this year, probably after the cut? I should re-check my numbers next month maybe ( SO MUCH WORK! ). I wish I had a dividend automated tracking thing.

      Reply
  5. GYM

    Love the detail and the charts!!

    Me and you are very close, I’m at around $14160 right now, I’d like to get past the $15000 mark too. I’m eyeing more banks as well and FTS but waiting for FTS price to go lower again.

    USD to US account- I have an RBC esavings account and it was worked well to avoid the currency conversion hit- i can’t remember if I went to the bank to verify my identity… probably. It’s been years ago.

    Some people talk about Hubert- it has an online USD account- maybe since it’s online you don’t need to go to a bank to verify?
    https://www.genymoney.ca/us-dollar-accounts-in-canada/

    Reply
    1. Sherry of Save. Spend. Splurge.

      FTS is a good one, but I always feel like I am so heavily concentrated in financials!

      For the RBC trick, I hear Paypal got rid of the loophole and yes, I did call and you have to go in-person. I need a cross-border account. I will go and see what I can do to get my Paypal USD into my Questrade account.

      Reply

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