May 2022 Dividends

Greetings everyone, welcome to my May 2022 passive income update.

Pretty quiet month activity wise, it was turnaround season for my plant, which kept me busy for a 3 week stretch, so I just let the dividends roll in and I simply added shares via Drip whenever possible. The transfer of my RRSP account at RBC to Wealthsimple was completed this month.  Wealthsimple separates CAD and US stocks inside the RRSP, so moving forward, any dividends received in the US portion will be recorded in CAD at 1:1, RBC used to convert the dividend automatically to CAD for me, so for sake of simplicity I'll just report as CAD funds.

Buys & Sells

Purchased 30 shares of Tourmaline Oil Corp, resulting in $24 of additional annual income. 

Dividend Increases

I think this was a record for me, 6 companies announced increases to their dividends this month:


These increases add $161.26 in annual dividend income across my TFSA and RRSP accounts, not bad!

Income

May saw my largest ever month of income and first 4 digit amount, large in part to a third special dividend from Tourmaline Oil Corp since November '21.  Across my three accounts, I have collected $1097.58 in dividend income!



Progress

This month, I am adjusting my annual target from $7700 to $10,000.  The special dividends from Tourmaline, along with several dividend increases already this year, I am confident that I can achieve this new target by the end of the year. To date I have collected $4090.59 in dividend income!

Bi-weekly contributions will continue for the rest of the year into my RRSP account, helping me reach my new target.

Thank you for taking the time to review my results.  Happy June everyone!


This blog is a method of recording my personal investment journey and should not be taken as advice.  As always, perform your own due diligence.








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