Passive Income Report – June 2022

Throughout these updates we will go over the previous month’s dividend income, as well as our rolling 12 month projected dividend income and our progress towards our goal of having $50,000 in annual passive income. For reference, I received my first ever dividend payment in December 2017, and I immediately realized that they needed to be a prominent part of our any investment strategy.

If you’re interested in seeing May’s post click here.

For June there was a passing of the guard in our portfolio, since our portfolio’s inception March-June-Sept-Dec quarterly payments have been our big ones thanks to famous Canadian dividend payers like Enbridge, Canadian Utilities, Fortis amongst others but this year our Jan-Apr-Jul-Oct appear to have passed into the lead.

Let’s look at the numbers:

Dividends Received: $1,398.44

As mentioned above we had expected June to be a new record month based on previous experience but this was not the case. $1,398.44 is a great total for us but it came in a far cry from the $1,628 received in April.

Our top 5 payers for the month of June were:

1) Enbridge
2) Manulife Financial
3) Canadian Utilities
4) Fortis
5) 3M

Manulife has come up the board quickly as we’ve piled in a lot of new capital as the shares have struggled in price. This will hopefully be a worthwhile gamble but only time will tell, as for the rest of the holdings on the list, well, they compile some of our absolute core holdings that we’ve held since the start of our portfolio and will continue to hold for years.

Now, let’s look at where we’re at for the year:

Dividends Received YoY: $6,873.41

As you can see our $1,398.44 is a 27% increase over 2021 and our yearly total so far is already at 63% of our past year’s total. Being that we’re at nearly $7,000 now at the midpoint of 2022 we’re expecting to reach about $15,000 by years end.

This highlights -yet again- why we invest for cashflow, our stock’s share prices have dropped and in some cases quite hard this year but our cashflow continues to grow.

Now, onto the 12 month projections:

Dividend Projections: $19,080.38

If you did check out our last month’s update you’d see we’re up another $400+ dollars. How we’re doing this is fairly simple, we’re loosely following the BTSX (Beating the TSX) strategy with some minimal topping up of other positions throughout our portfolio.

Given the current state of the market the BTSX is yielding around 5.5% at the time of writing so we’re seeing an even greater than normal return on invested dollars. This is why most dividend or income focused investors often say they look forward to market downturns.

That is where we’ll leave off for this month, if you have any questions or comments feel free to reach out on our social media pages:

TWITTER: @FindependenceC1
INSTAGRAM: @FindependenceCanada

Thanks for stopping by,

FIC.