February 2021 Dividend Income

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)

20202021
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)

20202021
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

13 thoughts on “February 2021 Dividend Income

    1. 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.

      Liked by 1 person

  1. 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).

    Liked by 1 person

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