January 2021 Dividend Income

Hello folks and welcome to my first dividend income summary post for 2021. I hope everyone received lots of dividend income to start the new year. January for me was very busy in regards to investing, in real life not so much. January saw me sell all of my Canadian stocks which sat in my RRSP account, I replaced them with US stocks. Heading into February I am happy where my portfolio sits in terms with allocation. I now only hold Canadian stocks in my TFSA and LIRA accounts, and US/International in my RRSP accounts.

To start 2021 off I received the highest amount of dividends ever for the month of January. I received $781.40 and my TFSA account led the way, which I believe is a first for me. I had 10 stocks and two ETFs pay me, some of them paid me twice which you will notice below. Here is the income per account:

• TFSA $398.02
• RRSP $383.38

I had three US stocks pay me this 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 $231.11
• CDN $550.29

Tax Free Savings Account (TFSA)

	2020	2021
Bank of Nova Scotia	$94.50	$109.80
iShares S&P/TSX Capped REIT Index ETF		$75.49
Telus		$61.93
BCE		$61.61
TC Energy		$26.73
Aecon		$20.80
The Keg Royalties Income Fund	$28.95	$15.35
Go Easy		$13.95
Inter Pipeline	$35.20	$12.36
Andrew Peller Ltd	$2.42
BMO International Dividend ETF	$38.79
Chorus Aviation	$18.56
European Residential ETF	$7.01
Plaza Retail Reit	$25.20
Canadian Apartment Properties Reit	$9.55
Transcontinental	$24.42
Total	$284.60	$398.02

Best month for income in this account for me, as well as a lot of change over from the prior year. I’m not planning on selling any of these stocks this year so this should be a smaller list in 2022. This month I received two payments from my Reit ETF XRE they don’t pay a distribution in December and always pay two in January.

Registered Retirement Savings Plan (RRSP)

	2020	2021
BCE	$111.74	$123.21
TC Energy	$110.25	$95.65
Altria Group	$52.08	$74.82
Algonquin Power & Utilities	$45.54	$60.64
XAW ETF		$15.68
Telus	$61.16	$13.38
Leon’s Furniture	$0.14
North West Company	$0.33
Realty Income Corp	$10.69
Total	$391.93	$383.38

A slight decrease in income this month with TC Energy’s dividend being paid in US dollars this year compared to last year being in Canadian. Next year should be interesting when BCE, TC Energy and Telus are no longer in the account. One bright spot in this account is the jump in income from XAW, they pay semi annually (June and January) in June I received $3.23 from them. I am currently trying to commit to adding more shares every two weeks.

DRIP

• Altria Group 1 share
• Algonquin Power 3 shares

I received 4 new shares through drip. These will boost my forward income by $5.30. For the time being I will only be dripping one stock and that is Enbridge in my LIRA account. In January I asked RBC to turn the drip off, I would like to start building up the cash in my accounts and buy the stocks myself.

Yearly Dividends

Started the year on a positive note by receiving the most dividends ever in the month of January.

2021 Dividend Goal

When I sold my Canadian stocks in my RRSP account I needed to lower my dividend goal. In order to achieve this goal I need to average $625 in income per month. Receiving $781 this month gets me off to a good start.

Stocks I Sold

• BCE
• Royal Bank of Canada
• Bank of Montreal
• Telus
• TC Energy
• Enbridge
• Power Corp

Stock Purchases

• Apple
• General Dynamics
• AT&T
• Verizon Communications
• Bank of America
• Lockheed Martin
• Pfizer
• Merck Co & Inc
• Home Depot
• 3M Company
• Johnson & Johnson
• Pinnacle West Capital Corp
• Texas Instruments
• Microsoft
• Visa
• Alimentation Couche-Tard
• Algonquin Power & Utilities
• Fortis

Dividend Increases

Received one raise this month.

• Canadian National Railway 7%

Thanks for reading!

Matthew