Hello everyone and thank you for coming to the site to read my May 2021 dividend income post. I would like to say sorry for not writing as much as I was in the past. Since April I’ve been waking up around 4am to go on the treadmill for two hours then go off to work for 8am. When I get off work I’m usually very tired and can’t think straight. That is the reason for mostly being absent with the blog, hopefully in September I can be more active.
Ok back to the topic of dividend income. May traditionally for me is a quiet month in terms of stocks paying me and the low amount of income I receive. This month was no exception, I received 10 dividend payments from 9 stocks and 1 ETF. I received $401.49 this month which turns out to be the lowest monthly total so far this year.
I received the money in two accounts and here is the total for each.
- RRSP $256.50
- TFSA $144.99
If you’re new to the site my RRSP is all in US dollars and all of my Canadian stocks sit in my TFSA. When sharing with you the income I receive I don’t convert the US dividend income into Canadian for simplicity.
Registered Retirement Savings Plan (RRSP)
|Bank of Montreal||$96.46|
|Royal Bank of Canada||$103.68|
Quite the drop in income for this account due to removing my Canadian bank stocks. Through future dividend increases and stock purchases I will rebuild the lost income.
Tax Free Savings Account (TFSA)
|Bank of Montreal||$5.30||$61.48|
|Royal Bank of Canada||$5.40||$48.60|
|iShares S&P/TSX Capped Reit Index ETF||$24.16|
|The Keg Royalties Income Fund||$10.75||$10.75|
|BMO International Dividend ETF||$39.42|
|European Residential Reit||$7.70|
|Plaza Retail Reit||$27.76|
|Canadian Apartment Reit||$9.55|
My TFSA saw growth this month despite all of the changes that were made over the last year. I plan over time to continue buying more shares of Bank of Montreal and Royal Bank of Canada. Also I may look and see if any other Canadian stocks pay in May to help boost the dividend total.
2021 Dividend Goal
I sit just over the $2,900 mark or 39% of my goal for the year. I still have around $2,000 left to invest in my TFSA before I reach the contribution limit so that should help provide a boost to my income in the second half of this year.
I sold two stocks/ETFs this month, and they are:
- AT&T all 50 shares
- iShares S&P/TSX Capped Reit Index ETF (XRE) 150 shares
On May 18th I sold all of my shares in AT&T (T) at that time the company announced plans to cut the dividend and I didn’t want the heachache of seeing one of my stocks cut their dividend. Although I believe that this is the right move for AT&T. I put all of the money from these shares into Verizon.
I also sold 150 shares of my real estate ETF iShares S&P/TSX Capped Reit Index ETF. I sold these because the ETF made up 17% of my TFSA account and I thought I should trim in down. By selling these shares it brought the ETF holding down 3% and it is now 14% of the account. In the future I may look to trim this down to about 10%. I invested the cash into existing stocks and some new ones.
- Verizon 30 shares
- XAW ETF 12 shares
- Apple 5 shares
- Greenlane Renewables 75 shares
- Manulife 18 shares
- Power Corp 8 shares
- Emera 7 shares
- Metro 7 shares
- Enbridge 7 shares
- Alimentation Couche-Tard 6 shares
- Brookfield Renewable 5 shares
- Canadian National Railway 4 shares
This month I added Manulife, Emera and Metro to my TFSA. I realized I made a mistake by selling Manulife last year and decided I wanted it back in my portfolio. I like Emera and Metro, I think the have a bright future and will look to hold these for quite awhile.
I received two dividend increases this month.
- Algonquin Power & Utilities 10%
- Telus 1.6%
Thanks for reading everyone!