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 October’s post click here.
November was a whirlwind.
We finally got back from our vacation towards the end of the month and I went straight back to work onto night shifts, so needless to say it flew past!
During the time away I hardly looked at the stock market which was nice and as such I haven’t been up to date with our portfolio. From the looks of things it was a fairly good month for us as our balances have trended up slightly even though we weren’t contributing any funds to the portfolio.
The goal for the remainder of the year is to fund our TFSA, RRSP and RESP room at the start of 2023.
Now that we’ve finally got my wife’s “myCRA” straightened out after over a year of issues we have an accurate number for her TFSA contribution room that we will be topping up as soon as possible and then will have to pick away at the 2023 contribution room as well so that will tie up several months’ cashflow for us.
Now let’s get on to the numbers:
Dividends Received: $1,303.74
After we peaked in October, November has us crashing back down to earth with $1,303.74 in received dividends. Now- this was completely expected so it’s not upsetting in the least. We’re not after level payments month after month as we believe we’ll be able to pool dividends and fund our lifestyle regardless of when exactly they come into our accounts.
The top 5 payers for November were:
1) Power Corp (POW.TO)
2) Royal Bank (RY.TO)
3) Bank of Montreal (BMO.TO)
4) British American Tobacco (BTI)
5) Emera (EMA.TO)
So as you can see, a very heavy month of Canadian banks (probably our favourite holdings).
Now, let’s look at our year to date:
Dividends Received YTD: $15,792.97
Now for our 12 month rolling projection:
Dividend Projections: $21,613.16
This new dividend projection is only $82 above our last update but we need to keep in mind that that was a late update done only a couple of weeks ago. This slight increase came from a few loose dividends being reinvested in our account as we’ve still yet to add any new money for quite some time.
Hopefully we free up some cash and manage to top up Mrs. FIC’s TFSA this December, thus increasing this forward projection by the time our first update of 2023 comes along.
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.