May 2022 Dividend Income

Hi everyone, I hope you all had a great month of May. For me May was kind of so so, when it comes to investing it was good as I received much higher income this year compared to last. On the personal side we found out that our provincial government is going to be cutting education workers this summer. The board that I work for has informed our union that 65 jobs are going to be cut. I am nervous as I’m not sure if I will be safe. Even if I am safe a number of my friends probably won’t be which is very sad. Ok let’s get back to the investing update.

May is generally a small month for me and this year was no different, I had 8 stocks pay me in two of my investments account. I received a total of $551.77, the income per account is as follows:

  • RRSP $279.77
  • TFSA $272.00

If you’re new to my site my TFSA has all Canadian stocks and my RRSP is made up of one Canadian stock and the rest US stocks. That being said the majority 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
AbbVie$101.40$111.02
Verizon$31.38$60.80
General Dynamics$47.60$50.40
Texas Instruments$39.78$44.85
Apple$10.34$12.70
AT&T$26.00
Total$256.50$279.77

Tax Free Savings Account (TFSA)

20212022
Bank of Montreal$61.48$139.56
Royal Bank of Canada$48.60$111.02
Emera$21.42
The Keg Royalties Income Fund$10.75
iShares S&P/TSX Capped REIT Index ETF$24.16
Total$144.99$272.00

Dividend Reinvestment Plan (DRIP)

# Of SharesForward Income
Verizon1.3046$3.34
Bank of Montreal1.0233$5.67
Royal Bank of Canada0.8611$4.13
AbbVie0.7209$4.06
Emera0.3397$0.90
Texas Instruments0.2573$1.18
General Dynamics0.2125$1.07
Apple0.0858$0.08
Total4.8052$20.43

Thanks to the stock market dropping I was able to drip a full share of Bank of Montreal that made me very happy 🙂

Month to Month Dividends

So far this year I’ve increased my income in 3 of the 5 months this year when comparing them to last 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 $43,405.25

2022 Dividend Goal

Stock Purchases

  • 18 shares of Algonquin Power & Utilities
  • 13 shares of XAW ETF
  • 10 shares of Bank of America
  • 5 shares of Union Pacific
  • 5 shares of Walgreens Boots Alliance
  • 3 shares of Apple
  • 3 shares of Microsoft
  • 1.6109 shares of Visa
  • 1 share of Home Depot

I invested quite a bit of money this month which will probably be the last time for awhile as I wait to see about my job. I purchased a new stock in my portfolio in Union Pacific, I did this because I think railroads are going to be key moving forward for the North American economy and I believe Union Pacific will do very well moving forward.

Dividend Increases

  • Telus dividend increase of 3.4%, the dividend will rise to $0.3386 per share up from $0.3274
  • Equitable Bank dividend increase of 4%, the dividend will rise to $0.29 per share up from $0.28
  • Algonquin Power & Utilities dividend increase of 6%, the dividend will rise to USD$0.1808 per share up from USD$0.1706
  • Bank of Montreal dividend increase of 5%, the dividend will rise to $1.39 per share up from $1.33
  • Royal Bank of Canada dividend increase of 7%, the dividend will rise to $1.28 up from $1.20

Here is a list of all the dividend increases 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
Johnson & Johnson$1.06$1.13$11.28
Apple$0.22$0.23$2.20
Telus$0.3274$0.3386$10.76
Equitable Bank$0.28$0.29$2.80
Algonquin Power & Utilities$0.1706$0.1808$21.83
Bank of Montreal$1.33$1.39$25.20
Royal Bank of Canada$1.20$1.28$29.88
Total$277.15

Thanks for reading!

Matthew

9 thoughts on “May 2022 Dividend Income

  1. I hope you don’t get laid off. Uncertainties suck. I also work is education sector, but haven’t heard of any cuts yet. Situations like this reminds us why we’re pursuing FIRE. Good luck and looking forward to the next month!

    Liked by 1 person

  2. Hoping you skirt though the layoffs. But that’s why we’re all trying to save and invest. Aside from the main goal of retirement, it also acts as a good buffer should anything major happen. UNP and the other railroads should do well if there is a considerable amount of onshoring of industry as the supply chain has been incredibly strained.

    Liked by 1 person

  3. Hi Matthew, great write-up. We own many similar stocks, like BEP, Pfizer, JNJ, etc. My current portfolio is at 460k USD (was already above 500k not too long ago). One thing I noticed is that you don’t have much international exposure. Maybe you can consider some large Asian or Australian REITs (I for example own Link Reit, Asia’s largest commercial property REIT, or Dexus, the equivalent in Australia). At the current levels I believe very good buying opportunities. You can find all of them in my All-Weather Portfolio on my site. Cheers from Singapore, Noah

    Liked by 1 person

    1. Hi and thanks Noah I currently own the XAW ETF from Blackrock that gives me international exposure. It’s a small position but I add to it on a bi-weekly basis

      Like

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