September 2020 Dividend Income

Hi everyone and welcome to my September dividend income post. I hope all of you are staying safe and healthy. I live in Ontario, Canada which is in central Canada and we are now into the second wave of COVID-19 with cases rising to over 700 per day. So far I am healthy and still working.

September was a month of change for me when it comes to investing, you will see what I did near the end of the post. I revamped my portfolio to shrink my portfolio, doing so I believe will help me in the long run. I had 23 stocks and 2 ETFs pay me this month.

I received $705.55 in dividend income from those 23 stocks and 2 ETFs. Compared to last year my income decreased 2.24% or $16.16. The decline is just from Power Corp changing their payment schedule. My income per month is as follows:

• RRSP $354.72
• TFSA $263.35
• LIRA $87.48

I had seven US stocks pay me this month so 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 $123.56
• CDN $581.99

RRSP (Registered Retirement Savings Plan)

	2019	2020
Enbridge	$112.91	$130.41
Fortis	$93.15	$100.75
Lockheed Martin	$17.60	$33.60
Johnson & Johnson	$15.20	$24.24
Home Depot	$16.32	$18.00
3M	$14.40	$14.70
Bank of America	$12.96	$12.96
Microsoft	$5.06	$10.71
Walgreens Boots Alliance	$9.15	$9.35
Power Corp	$93.56	Moved to Oct
Realty Income Corp	$10.65
Total	$400.96	$354.72

Boy I sure do love my Enbridge payments, their payment grew 15.5% compared to last September, the growth is entirely from their dividend raise and dripping new shares every quarter. Over the last year I made new investments in Lockheed Martin, Johnson & Johnson and Microsoft the rest of the income growth for each stock is due to dividend increases.

TFSA (Tax Free Savings Account)

	2019	2020
Canadian Utilities	$65.10	$67.92
iShares S&P/TSX Capped REIT ETF (XRE)		$46.40
BMO International Dividend ETF	$38.79	$32.93
Plaza Retail REIT	$24.73	$28.11
Brookfield Renewable Partners		$17.55
Canadian National Railway	$8.06	$14.95
Suncor	$8.82	$13.86
Inter Pipeline	$34.63	$12.36
Sun Life		$11.00
SmartCentres REIT		$10.79
The Keg Royalties Income Fund	$28.57	$10.75
Canadian Apartment Properties REIT	$9.55	$9.55
Enbridge		$8.10
European Residential REIT	$3.97	$7.92
Fortis		$7.16
Manulife		$6.44
Open Text		$4.11
Brookfield Renewable Partners Corporation		$3.96
Chorus Aviation	$18.24
Total	$240.46	$263.35

Lots of activity in this account in September. A lot of new stocks made contributions. Above I mentioned I revamped my portfolio and this account is where I did about 95% of the changes.

LIRA (Locked In Retirement Account)

	2019	2020
Enbridge	$76.75	$87.48
Diversified Royalty Corp	$3.54
Total	$80.29	$87.48

I had some nice growth in this account from Enbridge. Same comment I made in my RRSP about Enbridge applies here as well. With the lower share price I was able to drip an additional share. Fingers crossed I should be able to receive $100 every quarter from Enbridge next year or possibly this December.

DRIP (Dividend Re-Investment Plan)

	# of Shares	Forward Income
iShares REIT ETF (XRE)	6	$4.14
Enbridge	5	$16.20
Canadian Utilities	2	$3.48
Fortis	1	$1.91
Total	14	$25.73

It was nice to see the portfolio receive 5 new shares of Enbridge in the following accounts RRSP (3), LIRA (2). Going forward for the foreseeable future I will only drip in my RRSP and LIRA accounts. Any dividends received in my TFSA will be used to buy Telus, Power Corp, Enbridge, TC Energy, BCE, Fortis, Bank of Montreal and Royal Bank of Canada.

Year Over Year Dividend Comparison

I’ve now gone two straight months with dividend income lower than their 2019 numbers hopefully I can turn it around in October.

2020 Dividend Goal

Well folks I currently need $3,531.75 in dividend income to achieve my goal this year. That means I need to average $1,177.25 per month.

Stock Purchases & Sold

This area saw a lot of activity for me, so below I will list all of the stocks I bought, then below them I will share with you the stocks I sold.

Bought

• 797 shares of iShares S&P/TSX Capped REIT Index ETF (XRE) (TFSA)
• 27 shares of Brookfield Renewable Corporation (TFSA)
• 109 shares of Telus (TFSA)
• 78 shares of Power Corp (TFSA)
• 59 shares of BCE (TFSA)
• 43 shares of Bank of Montreal (TFSA)
• 35 shares of Royal Bank of Canada (TFSA)
• 48 shares of Enbridge (TFSA)
• 38 shares of Fortis (TFSA)
• 33 shares of TC Energy (TFSA)
• 40 shares of Aecon (TFSA)
• 23 shares of iShares Core MSCI All Country World ex Canada ETF (XAW) (RRSP)
• 10 shares of Enbridge (LIRA)

Sold

• BMO International Dividend ETF (TFSA)
• Transcontinental (TFSA)
• Suncor (TFSA)
• NFI Group (TFSA)
• Brookfield Renewable Partners (TFSA)
• Manulife (TFSA)
• Sun Life (TFSA)
• Open Text (TFSA)
• Enghouse (TFSA)
• Alimentation Couche-Tard (TFSA)
• Leon’s Furniture (RRSP)
• North West Company (RRSP)
• Diversified Royalty Corp (LIRA)
• SmartCentres REIT (TFSA)
• Plaza Retail REIT (TFSA)
• European Residential REIT (TFSA)
• Canadian Apartment Properties REIT (TFSA)
• Canadian Utilities

Dividend Increases

September was a good month for me when it came to dividend increases.

• Texas Instruments 13%
• Microsoft 10%
• Lockheed Martin 8.3%
• Fortis 5.8%

Combined these raises increase my forward dividend income by $56.12.

How was your September?

Thanks for reading!

Matthew