March 2023 Dividend Income

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Hello how the heck are you? I’m great the weather outside is fantastic, it’s a long weekend so life is perfect at the moment. In all seriousness I’m in a great mood writing this because I am coming off the best month I’ve ever had in terms of dividends received. For the first time ever my income is 4 figures 😀

In March I received $1,004.15 the first time I have hit a $1k in a single month. This represents 19.5% income growth over last March. I received payments from 17 stocks in all three of my investment accounts. Here is the breakdown per account:

• TFSA $453.97
• RRSP $426.85
• LIRA $123.36

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

Tax Free Savings Account (TFSA)

	2022	2023
Enbridge	$125.56	$137.76
Manulife	$85.47	$99.92
Brookfield Renewable Partners Corp	$59.08	$69.25
Fortis	$51.01	$66.53
Canadian National Railway	$39.87	$43.82
Equitable Bank	$19.60	$36.69
Total	$380.59	$453.97

Registered Retirement Savings Plan (RRSP)

	2022	2023
Lockheed Martin	$84.00	$92.36
Pinnacle West Capital	$42.50	$52.77
Union Pacific		$52.49
Home Depot	$43.70	$52.00
Johnson & Johnson	$42.40	$46.38
Walgreens Boots Alliance	$21.49	$36.02
Pfizer	$30.00	$31.52
Bank of America	$21.00	$24.80
Microsoft	$16.12	$19.90
Organon & Co	$10.92	$10.92
Visa	$5.62	$7.69
3M Company	$29.80
Total	$347.55	$426.85

Locked In Retirement Account (LIRA)

	2022	2023
Enbridge	$111.80	$123.36
Total	$111.80	$123.36

Dividend Reinvestment Plan (DRIP)

	# Of Shares	Forward Income
Enbridge	4.636	$16.46
Manulife	4.012	$5.86
Brookfield Renewable Partners Corp	1.503	$2.03
Fortis	1.246	$2.67
Walgreens Boots Alliance	1.084	$2.08
Bank of America	0.86	$0.72
Pfizer	0.769	$1.20
Pinnacle West Capital	0.724	$2.50
Equitable Bank	0.629	$0.88
Johnson & Johnson	0.303	$1.37
Canadian National Railway	0.273	$0.86
Union Pacific	0.261	$1.36
Lockheed Martin	0.195	$2.34
Home Depot	0.183	$1.53
Microsoft	0.08	$0.22
Visa	0.035	$0.06
Total	16.793	$42.14

Month to Month Dividends

Dividends Received Per Year

2023 Dividend Goal

Dividend Increases

Received two raises this month from General Dynamics and Power Corp

• General Dynamics increased their dividend 4.8% which will boost their quarterly dividend to $1.32 per share up from $1.26 per share.
• Power Corp increased their dividend 6% which will boost their quarterly dividend to $0.5250 per share up from $0.4950 per share.

Stock Purchases

Here are my purchases for the month of March. I made two large purchases and a couple fractional share purchases.

• TC Energy 62.55 shares
• National Bank 36.476 shares
• Telus 0.949 shares
• Bank of America 0.3887 shares

In March I received my tax refund and instead of spending it I decided to invest the entire amount and that is what I used to purchase the National Bank shares. With the TC Energy shares I sold all of my shares in Go Easy Ltd and took that money and put it into TC Energy.

Stocks Sold

As mentioned above I sold my position in Go Easy Ltd. I decided to sell the company to reduce my portfolio size and to reduce my exposure in financials as I have a number of bank stocks. I believe Go Easy still has a bright future and will continue to grow I just wanted to reduce my portfolio size.

Thanks for reading!

Matthew

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