Hello and welcome folks to my July income post, my apologies for writing this so late as we are now at the end of August. In July I started to take some time off work by taking 2 days off per week and I loved it and will look to do the same next year. It has allowed to enjoy the nice weather and start reading more. Ok let’s get back to investing, some news to share with you this month I’ve started using another account for dividend investing. I’ve had a Non-registered account for probably just under a couple of years with $5 worth of Shopify inside it. This was from a referral bonus I received from Wealthsimple. This month I decided I would start setting aside a little bit of money from my pay and start buying stocks inside this account. The plan is to only hold Canadian equities and I purchase stocks I hold in other accounts plus new ones as well. Below I will share with you my first purchase for the account.
I received payments from 8 stocks this month and they combined to pay me $677.17 a gain of $5.87 over last July. Here is the breakdown of income per account:
- TFSA $407.27
- RRSP $269.90
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 | |
| TC Energy | $69.77 | $148.95 |
| BCE | $90.65 | $110.96 |
| Telus | $81.38 | $102.09 |
| Aecon | $28.86 | $30.53 |
| Alimentation Couche-Tard | $11.37 | $14.74 |
| Go Easy | $32.17 | |
| Power Corp | $61.20 | |
| Total | $375.40 | $407.27 |
Income grew 8.5% this month led by my three of my biggest holdings.
Registered Retirement Savings Plan (RRSP)
| 2022 | 2023 | |
| Altria Group | $131.69 | $149.25 |
| Algonquin Power & Utilities | $125.96 | $79.04 |
| Merck | $38.25 | $41.61 |
| Total | $295.90 | $269.90 |
Quiet month for my RRSP with only three stocks paying me. Income declined due to Algonquin cutting their dividend earlier this year. Next year I will expect this account to return to growth.
Dividend Reinvestment Plan (DRIP)
| # Of Shares | Forward Income | |
| Algonquin Power & Utilities | 7.3457 | $3.19 |
| Telus | 3.937 | $5.72 |
| Altria Group | 3.3035 | $12.42 |
| TC Energy | 3.1677 | $11.78 |
| Aecon | 2.5915 | $1.81 |
| BCE | 1.9434 | $7.52 |
| Merck | 0.3812 | $1.05 |
| Alimentation Couche-Tard | 0.2192 | $0.12 |
| Total | 22.8892 | $43.61 |
I was able to drip new shares from all of my stocks. Back in April on the Wealthsimple platform Algonquin was not eligible to reinvest their dividends so I was a little surprised when I got the email saying the dividend was reinvested for the 7.3 new shares. My plan is now to continue to hold Algonquin and continue to drip the stock and acquire new shares at the lower price.
Month to Month Dividends
Dividends Received Per Year
2023 Dividend Goal
Yay the needle is past the halfway mark 🙂
Dividend Increases
I did receive one raise this month and that came from Bank of America they raised their dividend 9% increasing the dividend to $0.24 per share quarterly up from $0.22. This raise increases my income by $9.20
Stock Purchases
I made a couple of purchases this month on two stocks. First I continued my bi-weekly purchase of National Bank in my RRSP account. As mentioned above I started buying stocks in my Non-registered account and my first purchase was Telus. I already own Telus in my TFSA but decided to buy more in the new account as Telus was trading lower and I thought it was a good time to add more to the portfolio.
Here is the purchases:
- Telus (new account) – 30.31 shares
- National Bank – 2.989 shares
- Telus (TFSA) – 6.812 shares
Sold Stocks
I decided to finally move on from Chorus Aviation, I had been holding 50 shares to see if the stock would bounce back or if the company would reinstate the dividend. I sold the shares and reinvested the cash into Telus inside my TFSA which you can see above.
Thanks for reading!
Matthew
All About The Dividends 