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 February’s post click here.
So, the month of March was very uneventful for us in terms of our investment portfolios. We had pre-emptively dumped a bit of extra cash into our RRSP accounts in February for tax season and then decided to hold off on further deposits for March in order to save up for a few purchases.
We ended up buying ourselves a couple bicycles, a chariot for our boy and then kept anything else in cash until months end when we just made a couple small deposits to get April off to a proper start.
Moving forward we’ll just be topping up our under allocated stocks with no big moves coming that I can foresee at the moment.
Anyways, back on to the topic of this post – passive income. And more importantly the passive income we actually received for the month of March, so let’s get to it.
Dividends Received: $1,093.13
This is the breakdown of our income as seen on our account over at Wealthica.
We received payouts from 29 different stocks (technically 37 payouts since we hold a few of our stocks in multiple accounts) and got an average of $35 from each company.
Enbridge and Canadian Utilities actually accounted for ~40% of our income in March just by themselves, but that is to be expected as they are our two largest holdings and are great dividend payers. I think most Canadian investors will also get a larger % of their dividends from at least one if not both of these companies.
Dividends Received YoY:
$1,093.13 is a roughly 45% increase over last year’s total. 45% is a tremendous growth rate year-over-year but even more of note is the fact that this is our first time eclipsing the 4-figure mark! That’s right this is the first time that we’ve managed to pass the $1,000 month milestone, with hopes that there are many more to come!
Now that we’ve completed one full quarter of 2021 it’s also nice to see that the consistency is still there and there doesn’t seem to be too big of an imbalance in our income stream, we don’t make investment choices based on when the payouts come but it’s still better to see a little more balance than receiving everything in a few months.
Dividend Projection: $10,197.31
The current stats on our dividend portfolio are:
Portfolio Value: $ 253,671.78
Dividend Value: $ 10,197,31
Portfolio Yield: 4.02 %
That’s all we’ve got for this months passive income report, if you’ve got questions or comments feel free to leave them below or on our social media pages:
TWITTER: @FindependenceC1
INSTAGRAM: @FindependenceCanada
Thanks for stopping by,
FIC.