February 2021 Passive Income - 3 Sources 7 Raises!
Summary
- Our DRIPs (Dividend Reinvestment Program) added $7.91 to our yearly forward dividends this month. Total increase so far in 2021 is $244.11, 14.52% of our goal.
- This month I decided to do a portfolio cleanup and lower our total holdings while focusing on growing existing ones.
- I'll be buying more Algonquin (AQN) soon enough and maybe even swapping our BEP.UN for BEPC.UN now that things have got close to even in price.
- 7 dividend raises
- 3 sources of passive income
- $359.94 from dividends
- 8 stocks Dripped in February
Hey hey hey!
We are starting to see some volatility in the market woot! woot! Utilities keep dropping this month as news breaks out of rising interest rates. Can we really support rising interest rates at the moment? I don't think so, but at the same time we need to control this housing market. Things here in Canada are just insane. Either way, love seeing these renewable companies drop. I'll be buying more Algonquin (AQN) soon enough and maybe even swapping our BEP.UN for BEPC.UN now that things have got close to even in price. Tech has also been dropping, which is fantastic because our portfolio could use some more Tech love.
Raises or Cuts
7 Raises this month. Very Nice!
- 3M (MMM) raised their dividend by .68%, adds $.88 cents… haha
- Brookfield Renewable boosted theirs 5%, adds $12.80
- Bell Canada (BCE) raised 5.1%, adds $15.47
- Cisco (CSCO) raised 3%, adds $5.48
- Restaurant Brands (QSR) bumped it 1.9%, adds $4.48
- Nutrien (NTR) upped theirs 2.2%, adds $1.92
- TC Energy (TRP) came through with a 7.4% raise, adds $18.00
Total added income from dividend raises this month - $59.03
Total Added Income from Dividend Raises in 2021 - $75.04
Great to see so many raises this month! Things are looking up. Unfortunately some of them were pretty low.. cough cough 3M….. I guess we are still in the middle of this "pandemic," so I prefer the companies to be defensive with their raises vs cutting it in the future.
February 2021 Dividend Income
10 Companies paid us this month.
| Stocks | Feb 2020 Income | Feb 2021 Income |
|---|---|---|
| AltaGas (OTCPK:ATGFF) | 2.40 | sold |
| CVS Health (CVS) - USD | 15.50 | sold |
| BMO (BMO) | 18.02 | 33.32 |
| Inter Pipeline (OTCPK:IPPLF) | 28.93 (1 DRIP) | 8.32 |
| Procter & Gamble (PG) - USD | 17.90 | 18.98 |
| National Bank of Canada (OTCPK:NTIOF) (OTC:NTIFF) (OTCPK:NBKCF) | 25.56 | 25.56 |
| Emera (OTCPK:EMRAF) | 59.41 (1 DRIP) | sold |
| AbbVie (ABBV) - USD | 57.82 | 91.00 |
| Extendicare (OTCPK:EXETF) | 18.08 (2 DRIPs) | 19.40 (3 DRIPs) |
| RIT ETF | 0 | 44.69 (2 DRIPs) |
| SmartCentres (OTCPK:CWYUF) | 0 | 25.90 (1 DRIP) |
| RioCan (OTCPK:RIOCF) | 29.88 (1 DRIP) | 21.28 (1 DRIP) |
| General Mills (GIS) - USD | 66.15 (1 DRIP) | 70.89 (1 DRIP) |
| Totals | 339.65 | 359.94 |
8 stocks Dripped in February - Always the lowest months of the quarters.
A little bit of growth this month, but it kind of was doctored. I sold some stocks after they Dripped and put it into RIT ETF before their ex-dividend date. Stacking them divs! This is always our lowest month of the quarter; I don't see many targets, but if PG keeps dropping I'd gladly add to that position.
Our DRIPs (Dividend Reinvestment Program) added $7.91 to our yearly forward dividends this month.
Other Income
Private Investment Payment - $500.00
Nothing new here, just our regular monthly payment. (I don't even have to edit this part every month) Steady Eddy…….
Solar Panel Income
In January (we always get paid a month later) our solar panel system generated 204 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One (OTCPK:HRNNF) deposited $58.75 into our chequing account this month.
Last January the system generated $40.32. So we were slightly higher year over year. It's been 3 years since we installed the system, so we can see we are getting a 7.7% yearly return. Lower than anticipated, but in this market 7.7% guaranteed is fantastic!
Total Income for 2021 - $96.19
System Installed January 2018
Total System Cost - $32,396.46
Total Income Received - $7,583
Amount to Break-even - $-24,813.46
Total February 2021 Passive Income - $ 918.69
February 2020 Passive Income - $879.97
Total Passive Income Increase over last year. - $38.72
A very minor growth rate. That's to be expected, I haven't been buying to grow these months. Most of our capital has been put in companies that pay in other months. It's all good!
Totals For 2021
Dividends Year To Date Total - $1,156.32
Other Passive Income Year to date - $1,511.65
Total Passive Income for 2020 - $2,667.97
Year End Goal - $17,390.71 - %15.34
Looks like we are on track. Gotta just keep feeding the portfolio and watching it grow.
February 2021 Purchases/ Sales
This month I decided to do a portfolio cleanup and lower our total holdings while focusing on growing existing ones.
- Sold our RioCan position
- Sold our Extendicare position
- Sold our BMO position
- Added to our RIT ETF holdings
- Grew our TC Energy position
- Bought 9 units of XAW ETF
- Started a position in Lockheed Martin (LMT)
Lots of moves, but I think in the long run they will be better for the portfolio. You can read about all those moves in our recent post Portfolio Cleanup - Cuts & Additions.
Financial Goals Update
Charities
- We continue to make our monthly donation of 75 bucks to The Nature Conservancy of Canada.
Increase Dividends by $1,680.19 this year. (bringing our forward income from dividends to $8,329.13 a year)
- With New Purchases, DRIPs and Dividend Raises, we continued to grow the size of our dividend portfolio. Total increase so far in 2021 is $244.11, 14.52% of our goal.
ETF Monthly Purchase of $250
- This month we added 9 more units of XAW ETF.
- Questrade is great because it offers free ETF trades and cheaper stock trading options than most Canadian brokers. $250.00 a month would kill us if we needed to pay high trading fees..
February 2021 Passive Income Conclusion
While the income this month isn't amazing, it's growing. The sun is shining, spring is coming! Life is good. Wish you all nothing but the best in all aspects of your life.
Cheers!
"May the best of your Today's Be the worst of your tomorrow's" - Jay-Z
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
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