July 2021 Dividend Income

Hello and welcome everyone to my July dividend income post. July is one of my top earning months for the year, this July was no different and I was able to achieve a high income. I received 698.05 with my Tax Free Savings Account leading the way. The dividends came in from 12 stocks and one ETF.

I had two accounts contribute this month, here is what I received in each account.

  • TFSA $456.60
  • RRSP $241.45

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.

  • CDN $456.60
  • USD $241.45

Tax Free Savings Account (TFSA)

20202021
Bank of Nova Scotia$108.90$109.80
BCE$12.49$74.38
Telus$11.65$72.41
Power Corp$11.19$53.25
TC Energy$41.76
iShares S&P/TSX Capped Reit Index ETF$33.30
Aecon$14.40$22.75
The Keg Royalties Income Fund$10.75$21.49
Go Easy Ltd$13.95$20.46
Alimentation Couche-Tard$0.84$7.00
BMO International Dividend ETF$35.04
NFI Group$16.58
European Residential$7.72
Inter Pipeline$12.36
Plaza REIT$27.76
Canadian Apartment REIT$9.55
Transcontinental$27.45
SmartCentres REIT$10.79
Total$331.42$456.60

New investments and a dividend increase from The Keg helped boost income by 37.8%

Registered Retirement Savings Plan (RRSP)

20202021
Altria Group$71.40$120.40
Algonquin Power & Utilities$51.03$85.30
Merck & Co$35.75
BCE$119.88
Leon’s Furniture$0.12
North West Company$0.33
Power Corp$109.19
Telus$62.33
TC Energy$120.69
Total$534.97$241.45

As you can see my income dropped significantly due to the removal of several big paying Cdn stocks.

Month to Month Dividends

Dividends Received Per Year

2021 Dividend Goal

So far through seven months of 2021 I’ve achieved 57% of my goal.

Stock Purchases

  • XAW ETF 13 shares
  • Emera 11 shares
  • Metro 7 shares
  • Alimentation Couche-Tard 5 shares
  • Bank of Nova Scotia 1 share
  • Royal Bank of Canada 0.3811 of a share
  • Canadian National Railway 0.1584 of a share

In July WealthSimple announced that investors could start purchasing partial shares in a small number of Canadian/US stocks, I currently own two of them Royal Bank of Canada and Canadian National Railway. Upon hearing this news I took the exact cash that they paid me from their last dividend payment and reinvested it in the partial shares that I listed above.

Hopefully over time WealthSimple will make this available for all stocks traded on both the Canadian and US markets. If it happens I will reinvest all money received from their dividend payments back into each stock. I see buying partial shares a great thing that allows me to get my money working quicker for me.

DRIPped Shares

In late July I made the decision to start dripping my shares for all accounts. With my RRSP account it will really only affect to stocks Algonquin Power & Utilities and Altria Group. I have my TFSA account with WealthSimple Trade and they currently don’t offer DRIP(Dividend Re-Investment Plan) so once I receive the money I will manually purchase the shares. Thankfully I can do this as there are zero commissions with WealthSimple Trade. I started doing this in late July, as you can see I bought 1 share of Bank of Nova Scotia. I did also buy one share of Power Corp, unfortunately the money didn’t go into my account until August and that’s why it isn’t listed above.

Dividend Increases

I received three increases this month and they came from:

  • Walgreen’s Boots Alliance. 2.1% to $0.4775 per share
  • iShares S&P/TSX Capped Reit Index ETF boosted the distribution 37.8% to $0.051 per share
  • The Keg Royalties Income Fund 100% to $0.07 per share up from $0.035

My REIT ETF came in with a surprise boost I was not expecting that. The dividend increase from The Keg was also a pleasant surprise, with restrictions being removed throughout Canada The Keg has seen business coming back. They did however say that this increase was only good for three months and they will revisit it after that.

Thanks for reading!

Matthew

12 thoughts on “July 2021 Dividend Income

    1. Hey Matt, just curious what account you added the partial share of BCE to? As far as I’m aware there are no options for partial shares inside of a TFSA or RRSP so I assume it’s a taxable account?

      Liked by 1 person

      1. Hi Mitch if I said BCE I meant the partial shares are in Royal Bank of Canada and Canadian National Railway. They are in my TFSA account with WealthSimple Trade.

        Like

  1. I own 6 out of 7 stocks you purchased this month. XAW and ATD.B are in my RRSP.

    Big boost from iShares for the XRE ETF. Who doesn’t love a distribution or dividend raise?

    Congrats on your July dividend income. Like the purchases you made this month.

    Like

  2. Congrats on a solid month! Nearly $700 is great. I love when we get to cross over the round number milestones. We’re on the precipice of crossing into >$400 for November which another purchase/reinvestment should put us over which I’m pretty stoked about. Even more exciting is that we’re on track to pull in more than $2k each quarter for 2021. We’ve still got a lot of work to do, but it’s starting to take off on it’s own.

    Liked by 1 person

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