Hello and welcome to my May dividend income post. I can’t believe we are in June already time seems to be flying by. May was a good month for me in terms of investing my portfolio continued to rise and I achieved dividend growth over last year due to Power Corp moving their payment to May from June. Speaking of dividends in May I really started to feel the impact on my income from all of the cuts I have received.
12 stocks and one ETF paid me in the month. May has always been one of my smaller months. I received a total of $540.21, an 11.9% increase over May 2019. The income per account is as follows:
- RRSP $407.30
- TFSA $129.03
- LIRA $3.88
I had two US stocks pay me, here is the currency that I received the dividends in. Just a reminder to keep things simple I report the US currency as Canadian that way I don’t have to convert it to Canadian.
- USD $99.76
- CDN $440.45
RRSP
2019 | 2020 | |
Power Corp | $107.40 | |
Royal Bank of Canada | $78.54 | $103.68 |
Bank of Montreal | $71.00 | $96.46 |
AbbVie | $64.20 | $79.06 |
Texas Instruments | $20.70 | |
Inter Pipeline | $36.85 | |
Realty Income Corp | $10.62 | |
Total | $261.21 | $407.30 |
A big reason for the growth for this account came from Power Corp moving their payment to May instead of June. Power Corp has already announced that they will pay the next dividends in July so it will be interesting to see August’s income. Besides Power Corp’s payment my new investments into the other stocks also paid off.
TFSA
2019 | 2020 | |
BMO International Dividend ETF | $22.23 | $39.42 |
Plaza Retail Reit | $24.61 | $27.76 |
Inter Pipeline | $34.84 | $12.36 |
SmartCentres Reit | $10.79 | |
The Keg Royalties Income Fund | $28.38 | $10.75 |
Canadian Apartment Properties Reit | $9.55 | $9.55 |
European Residential Reit | $7.70 | |
Royal Bank of Canada | $5.40 | |
Bank of Montreal | $5.30 | |
Artis Reit | $7.43 | |
Boston Pizza Royalties Fund | $12.31 | |
Chorus Aviation | $18.16 | |
Laurentian Bank | $61.75 | |
Total | $219.26 | $129.03 |
Big drop in income for this month. A large majority of it was from my decision to sell Laurentian Bank a few months ago, that decision is looking look at the moment. If you look above you will notice I didn’t receive anything from Chorus Aviation like I normally would they like Inter Pipeline and The Keg Royalties Income Fund suspended or cut their dividend and May was the first month for all three of them to take effect.
LIRA
2019 | 2020 | |
Diversified Royalty Corp | $2.22 | $3.88 |
Total | $2.22 | $3.88 |
DRIP
# of Shares | Forward Income | |
Power Corp | 4 | $7.16 |
Diversified Royalty Corp | 2 | $0.40 |
Royal Bank of Canada | 1 | $4.32 |
Bank of Montreal | 1 | $4.24 |
Total | 8 | $16.12 |
For the very first time I was able to drip one share each of Royal Bank of Canada and Bank of Montreal.
Year over Year Dividends
2016 | 2017 | 2018 | 2019 | 2020 | |
January | $298.97 | $377.99 | $436.34 | $620.32 | $680.27 |
February | $205.66 | $273.04 | $309.75 | $455.70 | $475.32 |
March | $249.31 | $424.96 | $519.44 | $696.89 | $808.35 |
April | $346.87 | $403.82 | $533.09 | $760.67 | $755.16 |
May | $288.53 | $284.35 | $369.72 | $482.69 | $540.21 |
June | $269.00 | $362.19 | $650.27 | $718.53 | |
July | $367.33 | $402.11 | $543.91 | $632.54 | |
August | $298.23 | $289.40 | $388.99 | $535.11 | |
September | $285.41 | $403.27 | $568.42 | $721.71 | |
October | $380.23 | $399.38 | $546.38 | $669.14 | |
November | $293.02 | $287.15 | $438.59 | $460.48 | |
December | $287.58 | $404.51 | $689.97 | $752.25 | |
Total | $3,570.14 | $4,312.17 | $5,994.87 | $7,506.03 | $3,259.31 |
2020 Dividend Goal
In May as you can see I crossed the $3,000 mark for the year in dividends. I would like to see if I can reach $4,000 at the end of June but that might be a challenge now with the cuts my TFSA has received.
Stock Purchases
- Power Corp 25 shares
- Telus 10 shares
- Bank of Montreal 10 shares
- Fortis 5 shares
- Bank of Nova Scotia 5 shares
Dividend Raise
Yes surprisingly in the current environment we now find ourselves in I did in fact receive a raise.
- Algonquin Power & Utilities 10%
Dividend Cut
Unfortunately I did receive a cut as well.
- Suncor 55%
So how was your May? Please feel free to let me know in the comment section.
Thanks
Matthew
Sorry Matthew, what is RRSP?
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That’s ok an RRSP is Registered Retirement Svaings Plan here in Canada. It’s an account Canadians use to save for retirement.
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I see. In Singapore, we have the Central Provident Fund or CPF. Interesting to know how different countries around the world prepare their citizens for retirement…
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RRSP is in Canada what a 401k is in the US.
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Congrats on your progress. Very beautiful layout. Impressive!
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Thanks Blaine, I’m glad I updated the blog earlier this year 🙂
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Still a great month. The 11.9% year over year increase is very nice despite the ugly cuts from some companies. You made good calls this months by buying some stocks. You will have a nice boost in dividends in a few months.
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Thanks German 😁
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Wow Matthew, in March your dividend income hit almost $1k per month! My passive dividend income goal is to have $1.5k per month of dividends for my portfolio…
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Yes I think I received $808 that month my best to date. You have a great goal! I set a goal of wanting to receive $1k per month in dividends when I retire, since I am getting closer to that number and I’m only 36 years old I have increased it to $2k goal per month.
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That is good Matthew! And that is in spite of the COVID-19 outbreak…
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Nicely done Matthew. The SU cut is gonna hurt this month when they pay dividends.
We got over $1,800 in dividend income for May, very happy with that. 🙂
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Thanks Bob, I agree it’s going to hurt with the SU cut this month. My income is starting to feel all the cuts I received over the last couple months. Congratulations on a fantastic month for you.
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Nice Matt
great progress and love the new buys, well most of them =)
Fortis is one I keep debating stepping my foot into.
cheers man congrats on those bank drips as well.
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Thanks buddy! I love Fortis it would be nice if the stock dropped under $50 but I’m not sure it will happen. I may buy more in the future 😀
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This is so inspirational. I just started my dividend journey. I have yet to receive my first cash dividend this month.
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Hi Lex glad to hear you have started on the dividend journey. The dividends will add up over time. 👍
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Matthew – you continue to deliver stellar, inspirational results. I can’t say that enough. All smiles here as I read your dividend income summary. Ignore the Suncor cut and continue to focus on plowing through your goal.
Keep at it and after it!
Bert
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[…] All About the Dividends – $540.21 – Matthew, man, you continue to crush it! Congrats on crossing the big $500 milestone in the second month of the quarter. Excellent stuff! […]
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