Dividend Income & Portfolio Update
- Another busy month! My soccer season started, the kids are in dance & swimming, and I started my curling “career” with a win!
- The cabin has officially sold, the money has cleared and we’ve begun spending it/investing it and making plans for the rest of it. The first thing we did was we each took a bit of money to “treat ourselves”. Amber bought a bunch of new clothes, spent some money on a girls trip and got a new Christmas Tree. In typical Jordan fashion – I got an XBOX One Series X and some booze…hah. A bit of what I bought:
- Some of the other cabin sale money will go towards: Maxing out Amber’s TFSA(done), redoing our roof (starting next week), renovating the floors in living room/dining room & upstairs (hopefully finished in November). We are also contemplating finishing the basement – but undecided at this point.
- The kids had their first school dance which was a blast. We also went to “Boo @ The Zoo” which is like a mini halloween carnival at the Zoo.
- We hosted a large Thanksgiving dinner (about 30 people) and it was so much fun seeing all the kids/cousins running around playing together.
- We had our civic election last week in Winnipeg. It ended in a much expected disappointment. We re-elected a bunch of councillors with no vision and a new mayor whose main vision is to build more roads…meh. We had 11 candidates running for mayor. Voter turnout was so low, we almost had more candidates than voters…haha
Financial Highlights for October:
- Regular readers will know I’ve been really focusing on maxing my TFSA out this year. As of January 1st, I had $29,614 contribution room available. I am happy to report, I have officially maxed out both my TFSA & Amber’s TFSA (thanks to the proceeds of the cabin sale). This means now I can drastically reduce the amount I was contributing every two weeks, or invest in a non registered account OR double up our mortgage payments.
- In October I added 128 shares of Brookfield Asset Management to my TFSA. I also added 440 shares of European Residential Reit. These two purchases will add an additional $360.20 to my annual dividend income (100% Tax Free).
- We are currently sitting on around $55,000 cash in our TFSA, waiting to scoop up some more great companies at discounted prices over the coming months.
- Received dividends from 11 companies and 2 funds. Dripped an additional 81 shares/units. Last year I dripped a total of 603 new shares. So far this year I have dripped 586 shares in the first 10 months!
Passive Income Update For October 2022.
Telus: $66.03 (dripped 2 shares)
Diversified Royalty Income: $30.21 (dripped 11 shares)
Artis Reit: $51.05 (dripped 5 shares)
Algonquin Power: $262.70 (dripped 18 shares)
European Residential Reit: $15.72(dripped 5 shares)
RBNK: $83.96 (dripped 4 shares)
Nexus Reit: $15.63 (dripped 1 share)
Canadian NET Reit: $10.64
TFSA’s Total: $535.94
Canadian Equity Income Distribution: $394.00 (dripped 11 units)
Transcontinental: $218.03 (dripped 13 shares)
NewFlyer: $37.01 (dripped 3 shares)
GoEasy Financial: $393.12 (dripped 3 shares)
Equitable Group: $231.57 (dripped 5 shares)
RRSP Total: $1273.73
Total Passive Income October 2022: $1809.67*
*29.6% of this was 100% Tax Free!
2022 Portfolio Update:
Portfolio increased 14% to $549,484.91. This is very misleading, as we injected over $50,000 cash into the portfolio this month. If we remove the big cash infusion the portfolio is up about 3.7%. The lower stock prices are a little annoying – but I’m not going to lie, I enjoy seeing the DRIPPED share numbers increase. Adding almost 20 Algonquin Power shares, 5 Equitable Group & 3 GoEasy is real nice. I plan to hold a bit of this cash for the coming months to try and scoop up some great companies. A few I have my eye on: Brookfield, Interrent Reit, CP/CN Rail, RBNK and XAW.
Dividends in October were up 34.6% YoY compared to last October!
Last year (2021) I received $14,022 in dividends. So far in 2022, I have received $13,358.03. My forward 12 month dividend income is sitting at $15,707.00*.
*That doesn’t include any year end/special distributions.
I am still hoping to crack $18,000 by year end. 35% of my dividend income this year has been completely tax free. Last year – only 25% of my income was tax free – so it’s nice to see the focus on the TFSA has been paying off!