January 2022 Dividend Income

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Hello and welcome everyone to my first dividend income post of 2022. On January 1st up here in Canada we received an additional $6,000 in contribution room in our Tax Free Savings Account’s by the government. With that said I’ve been busy buying stocks, to date I have been able to invest $5,256.87 of that $6,000 and should hopefully max out the remaining space in February.

I received dividend payments from 8 stocks and one Exchange Traded Fund (ETF) and their combined payments came to $599.08 so close to $600 lol. The income per account is as follows:

  • RRSP $344.19
  • TFSA $254.89

If you’re new to my site all of my Canadian stocks are in my TFSA and my RRSP is made up of US stocks. That being said all of the dividend income in my RRSP is in US dollars. For simplicity for the site I just mark is Canadian.

Registered Retirement Savings Plan (RRSP)

20212022
Altria Group$74.82$127.80
XAW ETF$15.68$92.12
Algonquin Power & Utilities$60.64$86.32
Merck & Co$37.95
BCE$123.21
Telus$13.38
TC Energy$95.65
Total$383.38$344.19

Seen some nice increases in dividends received, this was a result of new investments made in the stocks and dividend increases in 2021. Income was down due to the three Canadian stocks leaving this account so the account could be used only for US stocks to take advantage of the tax benefit.

Tax Free Savings Account (TFSA)

20212022
Telus$61.93$77.27
BCE$61.61$75.40
TC Energy$26.73$58.83
Aecon$20.80$22.93
Go Easy$13.95$20.46
Bank of Nova Scotia$109.80
Inter Pipeline$12.36
The Keg Royalties Income Fund$15.35
iShares S&P/TSX Capped REIT Index ETF$75.49
Total$398.02$254.89

Income was down significantly this month due to the bottom 4 stocks/ETFs leaving the portfolio. I moved the money from Bank of Nova Scotia into my other two big banks Bank of Montreal and Royal Bank of Canada so my income for February should receive a boost. I also didn’t receive the two payments from the Reit ETF as I sold that in December.

Dividend Reinvestment Plan (DRIP)

# of SharesForward Dividend
Algonquin Power & Utilities6$4.09
Altria Group2$7.20
Telus2$2.62
XAW ETF2$1.26
BCE1.1307$3.96
Aecon1$0.70
TC Energy0.9088$3.16
Total15.0395$22.99

I had a pretty good month this month as I was able to add just over 15 new shares this month from the dividend received from my stocks. These will boost my future income by $22.99.

Month to Month Dividends

Last year I had this chart showing from 2016, but I thought it was getting to crowded so I thought I would begin with the 2019 year.

Dividends Received Per Year

Here is a list of all the dividends I’ve received since I started investing in stocks. So far I have received $40,773.80

2022 Dividend Goal

Last year I received $7,186 so I thought I would be aggressive and try and receive $8,500 this year. I hope to do this by purchasing more shares of stocks I already own, receiving dividend increases and through dripping new shares.

Stock Purchases

January was a busy month for me in terms of buying, I have invested $5,256 in my TFSA so far and have spent every penny of it.

  • 28 shares of Brookfield Renewable Partners Corporation
  • 21 shares of Aecon
  • 18 shares of Enbridge
  • 11 shares of Emera
  • 10 shares of Alimentation Couche-Tard
  • 8.9088 shares of TC Energy
  • 6 shares of Algonquin Power & Utilities
  • 6 shares of Equitable Group
  • 4 shares of Go Easy
  • 3 shares of XAW ETF
  • 2 shares of Manulife
  • 2 shares of Altria Group
  • 2 shares of Telus
  • 1.1307 shares of BCE
  • 0.5790 of a share of Royal Bank of Canada

Dividend Increases

Received one increase this month from Canadian National Railway which was 19%, they increased their quarterly payment to $0.7325 per share up from $0.5750. This raise increases my dividend income by $34 this year.

Thanks for reading!

Matthew

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4 thoughts on “January 2022 Dividend Income

    1. Thanks Rob I agree about XAW I think we were buying the same amount last year. I hope to hit the goal this year, it will be close as I bought a lot of smaller yielding stocks so not sure.

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  1. Looks like a great start to the year Matthew. Nearly $600 and best of all lots of purchases that you were able to make. We’re still waiting on making our extra tax deferred/exempt contributions for 2021. My wife’s income is predictable; however my income is quite variable. As such we almost always end up somewhere within the phase out range to max the contributions to our Traditional/Roth IRA. I believe that’s equivalent to the RRSP up in Canada. It’s a pain to always have to wait until we get our taxes figured out before we start making the contributions, but it’s a lot easier and smoother than making too much contribution to one of the accounts and having to take it back out.

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