March 2022 Dividend Income

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Hello and welcome to my March dividend income post. Hope you all had a great month! March was my best month to date and going forward the March, June, September and December months will be my best and I will show you why below.

I received dividend payments from 17 stocks and all three of my investment accounts contributed. I received a total of $839.94 this month and that represents 45.7% growth compared to last March, when I received $576.34. The income per account is as follows:

  • TFSA $380.59
  • RRSP $347.55
  • LIRA $111.80

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.

Tax Free Savings Account (TFSA)

20212022
Enbridge$50.94$125.56
Manulife$85.47
Brookfield Renewable Partners Corporation$26.97$59.08
Fortis$28.28$51.01
Canadian National Railway$18.45$39.87
Equitable Bank$19.60
The Keg Royalties Income Fund$10.75
iShares S&P/TSX Capped REIT Index ETF$33.73
Total$169.12$380.59

New investments led the way for my TFSA growth this month. Every holding received new investments. The six stocks that paid me this month are now all eligible on WealthSimple Trade to purchase fractional shares. All of the money received from these were reinvested right back into them, I will detail below what this will mean for the portfolio.

Registered Retirement Savings Plan (RRSP)

20212022
Lockheed Martin$78.00$84.00
Home Depot$37.95$43.70
Pinnacle West Capital$41.50$42.50
Johnson & Johnson$40.40$42.40
Pfizer$19.50$30.00
3M Company$29.60$29.80
Walgreens Boots Alliance$21.04$21.49
Bank of America$18.00$21.00
Microsoft$14.56$16.12
Organon & Co$10.92
Visa$4.80$5.62
Total$305.35$347.55

I eked out income growth this month through a couple new investments and dividend raises throughout 2021. I received a new dividend from Organon & Co which only started paying a dividend last August.

Locked In Retirement Account (LIRA)

20212022
Enbridge$101.87$111.80
Total$101.87$111.80

If you’re new to my site I only hold one stock in my LIRA account and it pays a dividend 4 times per year. I rely on the dividend reinvestment plan (DRIP) to add at least four shares depending on share price per year and dividend increases to grow my income.

Dividend Reinvestment Plan (DRIP)

# of SharesForward Dividend
Enbridge4.2382$14.58
Manulife3.2728$4.32
Brookfield Renewable Partners Corporation1.0869$1.39
Fortis0.8688$1.86
Bank of America0.4845$0.41
Walgreens Boots Alliance0.4533$0.86
Equitable Bank0.2743$0.31
Canadian National Railway0.2473$0.72
Johnson and Johnson0.2467$1.05
3M Company0.2023$1.20
Lockheed Martin0.1878$2.10
Home Depot0.1405$1.07
Micorsoft0.0578$0.14
Visa0.0279$0.04
Total11.7891$30.05

Had a great month in regards to dripping new shares. This is the first month I was able to start dripping my US stocks as my RRSP is now completely moved over to WealthSimple.

Month to Month Dividends

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 $42,207.06.

2022 Dividend Goal

Stock Purchases

Other than reinvesting my dividends back into the same stocks that paid them, I really didn’t make many stock purchases, I did make two though and here they are:

  • 12 shares of XAW ETF
  • .7711 of a share of Emera

Dividend Increases

Received two raises this month.

  • Aecon dividend increase of 5.7%, the dividend will rise to $0.185 per share up from $0.175
  • General Dynamics dividend increase of 5.9%, the dividend will rise to $1.26 per share up from $1.19

Here is a list of all the raises I’ve received so far in 2022.

StockOld DividendNew DividendForward Income
Canadian National Railway$0.5750$0.7325$34.28
BCE$0.875$0.92$17.52
Brookfield Renewable Partners Corporation$0.30375$0.32$9.44
Equitable Bank$0.185$0.28$26.60
3M Company$1.48$1.49$0.80
TC Energy$0.87$0.90$9.16
Go Easy$0.66$0.91$35.00
Home Depot$1.65$1.90$23.00
Aecon$0.175$0.185$6.20
General Dynamics$1.19$1.26$11.20
Total$173.20

Thanks for reading!

Matthew

5 thoughts on “March 2022 Dividend Income

  1. Looks like another solid month for you Matthew. And I really like how stable your dividends are from month to month. Ours are heavily skewed towards the M/J/S/D cycle. You’ve got to love that nearly 50% YoY increase!

    Liked by 1 person

    1. Thanks JC the increase in income was great to see YoY. Now I should be able to drip the majority of the stocks I own through full and partial shares, looking forward to seeing what that does to my income over the course of a year.

      Like

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