May 2021 Dividend Income

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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)

20202021
AbbVie$79.06$101.40
General Dynamics$47.60
Texas Instruments$20.70$39.78
Verizon$31.38
AT&T$26.00
Apple$10.34
Bank of Montreal$96.46
Power Corp$107.40
Royal Bank of Canada$103.68
Total$407.30$256.50

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)

20202021
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
Inter Pipeline$12.36
Plaza Retail Reit$27.76
Canadian Apartment Reit$9.55
SmartCentres Reit$10.79
Total$129.03$144.99

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.

Yearly Dividends

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.

Stocks Sold

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.

Stock Purchases

RRSP

  • Verizon 30 shares
  • XAW ETF 12 shares
  • Apple 5 shares

TFSA

  • 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.

Dividend Increases

I received two dividend increases this month.

  • Algonquin Power & Utilities 10%
  • Telus 1.6%

Thanks for reading everyone!

Matthew

9 thoughts on “May 2021 Dividend Income

  1. Congrats Matthew for your May income 🎉Indeed, May, along February, August & November are always my lowest months in terms of dividends. Nice new purchases, I like these companies. I kept AT&T will evaluate in the near future, I just have 79 shares 📉 -11% (350$). Not a big deal, could sell it to buy more ABBV instead 💰

    Liked by 1 person

    1. Hey, thank you! I hear ya about AT&T as my position was smaller 50 shares. I probably should have just kept the shares and waited to see what the company does in the future. Thanks again!

      Like

  2. great stuff Matt!

    Good job of waking up early and working out. I’ve been waking up earlier to just read a book and really enjoy it, but like you I’m tired in the evening and dont feel like writing.

    keep it up, lots of new purchases surely will continue to propel things.
    cheers

    Liked by 1 person

  3. Lots of changes recently, Matthew, but you are still raking in the dividend income.
    Nice work getting that ABBV dividend into triple-digits!
    Congrats on receiving that Algonquin raise. If only all raises could be so good!

    Like

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