May 2020 Dividend Income

 

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.

1. 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