October 2020 Dividend Income

Hello everyone and welcome to November. Wow we are already into the eleventh month of this crazy 2020 year. That means I get to share with you my dividend income from October. I have to say that I had a pretty good month income wise, I got more than I thought I would get. My income grew 42% compared to Oct 2019 and almost reached four figures.

In my last income post I said September was a month of change for me because of all the trades I made. I am happy to say this time that October was nice and quiet, I did not sell any stocks. I had 12 stocks and one ETF pay dividends this month. You will notice that I hold a few of the stocks in two accounts that is on purpose and will remain like this for awhile. My dividend income came in at $950.48 vs $669.14 in Oct 2019 growth of 42%.

My income breakdown per account is as follows:

• RRSP $551.06
• TFSA $399.42

I now only hold one stock in my LIRA account and that pays on a March, June, Sept and December schedule, so only two accounts paid me this month.

I had two US stocks pay me in the month, so here is the currency in which I received the dividends in. To keep things simple I report the US currency as Canadian, that way I don’t have to convert it.

• USD $133.98
• CDN $816.50

RRSP (Registered Retirement Savings Plan)

	2019	2020
BCE	$110.95	$121.55
TC Energy	$109.50	$121.50
Power Corp		$110.98
Altria	$51.24	$73.96
Telus	$58.50	$62.91
Algonquin Power & Utilities	$45.12	$60.02
Leon’s Furniture	$0.14	$0.14
North West Company	$0.33
Realty Income Corp	$10.67
Total	$386.45	$551.06

I received some nice big payments this month. Having Power Corp move their payment to October was the main reason for the jump in income. New investments in Algonquin and Altria earlier this year had a big impact as well.

Tax Free Savings Account (TFSA)

	2019	2020
Bank of Nova Scotia	$93.60	$109.80
BCE		$61.61
Telus		$50.97
Power Corp		$46.09
iShares S&P/TSX Capped REIT Index ETF		$41.76
TC Energy		$26.73
Aecon		$20.80
The Keg Royalties Income Fund	$28.66	$15.35
Go Easy Ltd		$13.95
Inter Pipeline	$34.77	$12.36
Andrew Peller Ltd	$2.42
BMO International Dividend ETF	$38.79
Chorus Aviation	$18.32
European Residential REIT	$3.97
Plaza Retail REIT	$24.85
Canadian Apartment REIT	$9.55
Transcontinental	$24.20
Total	$279.13	$399.42

This was by far the best month for my TFSA account in terms of dividends received. As you see I hold a few stocks in both accounts, my plan for the future is to only hold these stocks in my TFSA and sell the shares that are in my RRSP.

DRIP (Dividend Re-Investment Plan)

	# of Shares	Forward Dividend Income
Algonquin Power & Utilities	4	$2.48
Power Corp	4	$7.16
Telus	2	$2.32
BCE	2	$6.66
TC Energy	2	$6.48
Altria	1	$3.44
Total	15	$28.54

It was a good month for my drip’s, I was able to acquired to new shares in quality stocks.

Year Over Year Dividend Comparison

2020 Dividend Goal

I’ve almost hit the $7,000 mark for the year, for November I’m looking to try and reach $7,400 and get close to last year’s total of $7,506. If I can reach this number than I believe I should be able to go over $8,000 for the year.

Stock Purchases

There was a lot less activity for me this month compared to September. I made three small buys, two of which were for my TFSA account and the other in my RRSP.

• Telus 18 shares
• iShares Core MSCI All Country World ex- Canada Index ETF 7 shares

Dividend Increases

Received one raise towards the end of the month.

• AbbVie 10.2%

How was your October?

Thanks for reading!

Matthew