Hello and welcome to my September dividend income post. This past weekend it was Thanksgiving in Canada and I hope everyone had a great weekend with their friends and family. I went and seen my parents who were camping, it was quite chilly but built a big fire to stay warm and sadly watch the Toronto Blue Jays blow game two in their series to the Seattle Mariners.
September was a big month for me in terms of stocks paying their dividends and the amount I received. My biggest paying months are March, June, September and December. In June I crossed over the $900 received and this month I received over $900 again 🙂 All three of my accounts contributed this month, a total of 19 stocks made dividend payments to me. My income for September was $904.95 which is an increase of 38% compared to last year. Here is the income per account:
- TFSA $404.67
- RRSP $384.18
- LIRA $116.10
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 all the income as Canadian.
Tax Free Savings Account (TFSA)
| 2021 | 2022 | |
| Enbridge | $70.14 | $129.37 |
| Manulife | $7.56 | $87.84 |
| Brookfield Renewables Partners Corp | $30.66 | $61.99 |
| Fortis | $37.37 | $51.92 |
| Canadian National Railway | $21.01 | $40.26 |
| Equitable Bank | $4.07 | $21.90 |
| Alimentation Couche-Tard | $7.00 | $11.39 |
| The Keg Royalties Income Fund | $21.49 | |
| Metro | $4.00 | |
| iShares S&P/TSX Capped REIT Index ETF | $25.50 | |
| Total | $228.80 | $404.67 |
Achieved 76.9% growth in my TFSA this month probably won’t see that growth rate again lol. This growth rate is a result of the trades I made at the end of 2021 and beginning of 2022. It’s a future goal of mine to have all the stocks I hold pay me at least $100 every dividend payment, so come 2023 I will deploy fresh capital into some of the names above.
Registered Retirement Savings Plan (RRSP)
| 2021 | 2022 | |
| Lockheed Martin | $78.00 | $85.09 |
| Pinnacle West Capital | $41.50 | $50.71 |
| Home Depot | $37.95 | $46.68 |
| Johnson & Johnson | $42.40 | $45.77 |
| 3M Company | $29.60 | $34.95 |
| Pfizer | $29.25 | $30.25 |
| Walgreens Boots Alliance | $21.49 | $24.47 |
| Bank of America | $21.00 | $24.47 |
| Microsoft | $14.56 | $18.06 |
| Organon & Co | $1.40 | $10.92 |
| Union Pacific | $6.54 | |
| Visa | $4.80 | $6.27 |
| Total | $321.95 | $384.18 |
Lots of payments this month from my American stocks. Not quite the same growth rate as my TFSA but I’ll certainly take 19%. When I start contributing money to this account again I will probably focus on Union Pacific, I would like to build this position as it currently stands at just over 5 shares.
Locked In Retirement Account (LIRA)
| 2021 | 2022 | |
| Enbridge | $105.21 | $116.10 |
| Total | $105.21 | $116.10 |
Just one stock in this account. This account is from when I got laid off from a job years ago I decided to put the money into Enbridge for the dividend and sit back and see what happens. Achieved 10.3% growth here due to a dividend increase and I purchased a couple of additional shares within the year.
Dividend Reinvestment Plan (DRIP)
| # Of Shares | Forward Income | |
| Enbrige | 4.3816 | $15.07 |
| Manulife | 3.855 | $5.09 |
| Brookfield Renewables Partner Corp | 1.3564 | $1.74 |
| Fortis | 0.8878 | $1.90 |
| Bank of America | 0.7994 | $0.67 |
| Pinnacle West Capital | 0.6657 | $2.26 |
| Pfizer | 0.6626 | $1.03 |
| Walgreens Boots Alliance | 0.6598 | $1.27 |
| Equitable Bank | 0.447 | $0.55 |
| 3M Company | 0.2847 | $1.70 |
| Johnson & Johnson | 0.2814 | $1.27 |
| Canadian National Railway | 0.2578 | $0.75 |
| Alimentation Couche-Tard | 0.2077 | $0.09 |
| Lockheed Martin | 0.2072 | $2.32 |
| Home Depot | 0.1691 | $1.28 |
| Microsoft | 0.0686 | $0.17 |
| Union Pacific | 0.0331 | $0.17 |
| Visa | 0.0314 | $0.05 |
| Total | 15.2563 | $37.38 |
Almost hit $40 in forward dividend income from all of the dripped shares, soon I hope maybe I can achieve this in December. Who knows as it depends on what the market does, I’m just happy to be able to buy fractional shares to help grow my future income.
Month to Month Dividends
Dividends Received Per Year
Almost at last year’s total, I should be able to surpass 2021’s total sometime in November.
2022 Dividend Goal
I’m just $2,167.30 away from my goal. If I look at what I received the last three months and without calculating any dividend raises or new dripped shares looks like I will be about $20 short of the goal. Really looking forward to see what happens at the end of December.
Stock Purchases
I made a very tiny stock purchase this month. There are only two stocks in my portfolio where I can’t buy fractional shares. One of these is Organon & Co. I received $10.92 from them and I decided to put that money into Union Pacific. So I was able to buy 0.0521 of a share of Union Pacific. Not a big buy but every little bit helps.
Dividend Increases
Big month for dividend increases, the portfolio received 5 of them.
- Lockheed Martin raised their dividend 7%, their quarterly dividend will increase to $3 up from $2.80 per share.
- Emera raised their dividend 4%, their quarterly dividend will increase to $0.69 up from $0.6625 per share.
- Verizon increased their dividend 1.95%, their quarterly dividend will increase to $0.6525 up from $0.64 per share.
- Texas Instruments raised their dividend 7.8%, their quarterly dividend will increase to $1.24 up from $1.15 per share.
- Microsoft raised their dividend 10%, their quarterly dividend will increase to $0.68 up from $0.62 per share.
Here is a list of all the raises I have received in 2022.
| Stock | Old Dividend | New Dividend | Forward 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 |
| Walgreens Boots Alliance | $0.4775 | $0.48 | $0.51 |
| Equitable Bank | $0.29 | $0.31 | $1.41 |
| Altria Group | $0.90 | $0.94 | $23.90 |
| Verizon | $0.64 | $0.6525 | $4.88 |
| Texas Instruments | $1.15 | $1.24 | $14.24 |
| Emera | $0.6625 | $0.69 | $3.64 |
| Lockheed Martin | $2.80 | $3.00 | $24.48 |
| Microsoft | $0.62 | $0.68 | $7.00 |
| Total | $357.21 |
Thanks for reading!
Matthew
All About The Dividends 
Congrats on a strong month of dividends. Looks like you’ll be crossing $1k not too much longer from now too.
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Thanks JC, hopefully next year I can cross $1k received in a month.
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Great stuff Matt. Just looking through those charts you can see massive growth. Keep it up! go leafs
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Thanks Rob and go Leafs!
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[…] Matthew @ All About Dividends earned $904.95 in dividends and is reaching his 2022 goal of $8,500 in dividends. […]
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