October 2022 Dividends

Greeting everyone, welcome to my October 2022 passive income update.

Another month has come and gone, and thankfully we made it to the end of the month without seeing any snow!  This proved to be advantageous in terms of the Halloween candy collected by my boys, and the annual lesson in the dreaded dad tax!

Dividend Increases

One increase announced this month, Abbvie Inc. ($ABBV) announced a 5% increase to their annual dividend, this will add $28.84 USD in my RRSP account.

Buys & Sells

I sold 500 shares in Arc Resources ($ARX) to buy 120 shares in Tourmaline Oil Corp. ($TOU) in my TFSA, this will result in a decline of income by $132, but with special dividends announced through 2023 from Tourmaline, this will quickly be offset by the dividend announced for this November.  I now own approximately an even amount of shares of two large natural gas producers in the country.

I also exited small positions held in Nutrien ($NTR) and CP Rail ($CP) with reasonable profits and used those funds to purchase 225 shares of NorthWest Healthcare Properties REIT ($NWH.UN) and 10 more shares of CIBC ($CM) inside my TFSA.  This adds $172.07 of added dividend income.

In my RRSP, I exited my position in the Energy Select Sector SPDR ETF, realizing a 102.4% gain.  I may have exited this position early, however I am choosing to add to my Canadian stocks positions and invest in the US through the Schwab US Dividend Equity ETF ($SCHD). With these proceeds, I opened a position in the Canadian Tire REIT ($CRT.UN) of 235 shares, and added 50 shares each of CNRL ($CNQ), Bell Media ($BCE) and Fortis ($FTS), and added 14 shares of $SCHD.  These transactions add $184.55 of dividend income.

Income 

In October, I received dividends from 17 different companies.  If the dripped shares seem to be in excess of the dividend, it is because I purchased extra shares to use up left over capital from previous dividends received. Here are the results:

TFSA 

  • Pembina Pipeline Corp.      $55.46 (1 drip)
  • Telus                                    $71.11 (2 drips)
  • ARC Resources                   $122.28 (7 drips)
  • CNRL                                  $191.25 (2 drips)
  • CIBC                                   $16.10
  • Nutrien                                $9.21
  • CP Rail                                $1.90
TFSA Total - $467.31 (12 drips)

RRSP 
  • Whitecap Resources           $39.34 (4 drips)
  • SmartCentres REIT            $38.39 (1 drip)
  • TransAlta Renewables        $25.30 (2 drips)
  • TC Pipelines                       $93.60 (2 drips)
  • Tidewater Midstream         $10.08 (8 drips)
  • BCE Inc                              $97.52 (1 drip)
  • Algonquin Power                $40.41 (2 drips)
  • CNRL                                 $100.50 (2 drips)
  • TD Bank                             $116.59 (1 drip)
RRSP Total - $561.81 (23 drips)

RESP 
  • Dream Industrial REIT         $14.87 (1 drip)
  • Alimentation Couche-Tard   $1.43
RESP Total - $16.30 (1 drip)

Grand total - $1045.42 This represents a 52.9% year over year increase, and a 26.9% increase from the July reporting.  This means that for every hour of the month, my accounts were earning me $1.41 per hour!


Through October, I have collected $9561.44 in dividend income.  This represents a 135.4% increase from the same time one year ago!


I am well within range of my already once increased target for year end, and am comfortably in position to exceed this target!  Thank you for your time to read my results.  Till next time.

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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