
Hello everyone and welcome to my February dividend income post. How was your February? Mine was good, I was busy making small purchases in my TFSA account. Also I received a new high in income for the month of February thanks to Power Corp moving their first payment of the year.
I received $506.33 this month, which represents growth of 6.5% compared to February 2020. Nine stocks and one ETF paid me this month. Here is the income per account.
- RRSP $300.44
- TFSA $205.89
Four US stocks paid 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 $187.67
- CDN $318.66
Registered Retirement Savings Plan (RRSP)
2020 | 2021 | |
Power Corp | $112.77 | |
AbbVie | $79.06 | $101.40 |
General Dynamics | $44.00 | |
Texas Instruments | $20.70 | $34.68 |
Apple | $7.59 | |
Bank of Montreal | $96.46 | |
Realty Income Corp | $10.93 | |
Royal Bank of Canada | $100.80 | |
Total | $307.95 | $300.44 |
There was some big changes for this account. Power Corp moved their payment to Feb which was a bonus, but this will be the last payment for them in this account. Also as you see my Canadian banks don’t pay anymore as well, they are now only in my TFSA. I saw my first dividend payments from Apple and General Dynamics, I’m hoping over time to increase my position in both of these stocks.
Tax Free Savings Account (TFSA)
2020 | 2021 | |
Bank of Montreal | $56.18 | |
Power Corp | $49.67 | |
Royal Bank of Canada | $43.20 | |
iShares Capped REIT ETF (XRE) | $33.73 | |
Inter Pipeline | $35.34 | $12.36 |
The Keg Royalties Income Fund | $29.04 | $10.75 |
BMO International Dividend ETF | $38.79 | |
Chorus Aviation | $18.64 | |
European Residential REIT | $7.02 | |
Plaza REIT | $25.32 | |
Canadian Apartment REIT | $9.55 | |
Total | $163.70 | $205.89 |
Income grew 25% this month which was great to see. There was lots of movement in this account over the last year going forward that should change and I plan on increasing my positions the two banks and Power Corp.
Yearly Dividends

Two months of growth over 2020 numbers, great way to start 2021. Let’s see how long I can keep it up.
2021 Dividend Goal

After a couple of months I’ve achieved 17% of my goal.
Stocks Sold
- Inter Pipeline
Decided to sell my position in Inter Pipeline, they are currently a target of Brookfield as they have launched a bid to take the company private. I sold my shares a $1.25 over their initial offer and didn’t see the share price rising much further.
Stock Purchases
- XAW ETF
- BCE
- TC Energy
- Telus
- Brookfield Renewable Partners Corporation
- Alimentation Couche-Tard
- Royal Bank of Canada
- Fortis
- Enbridge
- Bank of Montreal
- Canadian National Railway
- Apple
- Pfizer
- Merck & Co. Inc
Dividend Increases
Great month for the portfolio in terms of dividend increases. I received 7 raises this month.
- 3M 1%
- Brookfield Renewable Partners 5%
- BCE 5%
- Home Depot 10%
- Aecon 9.3%
- Go Easy Ltd 47%
- TC Energy 7.4%
Dividend Cuts
Sadly I received one cut this month. The cut was to be expected with Canada mostly in lockdown due to Covid.
- The Keg Royalties Income Fund 30%
Hope everyone had a great month!
Thanks for reading!
Matthew
2nd month of a quarter is always a low paying month and to grow it 6.5% is pretty nice. That is what I call a job well done!
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Thanks!
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Nicely done Matthew. You sure were busy in February.
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Thanks Bob, with zero commission trades at WealthSimple Trade I like to put my money to work faster.
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great stuff Matt
love the additions and the yr over yr growth.
sucks about keg but looks like the raises make up for it.
cheers!
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Thanks Rob, it’s always tough receiving a cut. Hopefully they can raise it once restrictions start easing up.
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Great job. Hopefully we can get past the dividend cuts soon and and start getting nice raises. Great month you had
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Absolutely, I hope we can get past them soon as well. This cut I had a feeling was coming. I think once restrictions ease up and people are allowed back in restaurants the dividend might increase back to where it was before this cut. Hope you had a great month.
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Hi Matt, Maybe I missed it but I can’t find how much in total you are investing to get these dividends. I’d like to know your total to make it $7500 / year in dividends. Of course if you don’t mind sharing.
I am aiming for 4.5% – 5.5% average yield this year (And I am new to the dividend market).
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I sent you a reply on Twitter 😀
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Great month Matt, way to add some solid companies to the portfolio. Keep it up!
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Thanks Brian! Hope you had a great month as well.
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[…] Matthew Freeman continues his march towards higher dividends this year. […]
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