July 2022 Passive Income - An Outstanding Month
Summary
- 36 stocks dripped in July. $464.01 more than last year, or a 53.21% increase.
- Our DRIPs (Dividend Reinvestment Program) added $52.49 to our yearly forward dividends this month.
- The goal for 2022 is to have a forward passive income of $27,500 by the end of the year. I plan on doing this by refinancing our house and taking advantage of these low interest rates.
Zolak
July 2022 Passive Income – Breaking $2,500!
- 3 sources of passive Income
- $1,336.01 from dividends
- 22 stocks/units dripped in June
- Trailing 12-Month Portfolio Return +7.61%
Raises
0 Raises or cuts this month
Total Added Income from Dividend Raises in 2022: $320.11
July 2022 Dividend Income
13 Companies paid us this month.
| Stocks | July 2021 Income | July 2022 Income |
|---|---|---|
| Transcontinental (OTCPK:TCLAF) | 27.45 (1 Drip) | sold |
| Restaurant Brands (QSR) | 73.61 | 100.87 (1 Drip) |
| Couche-Tard (OTCPK:ANCUF) | 5.95 | 16.50 |
| Aecon (OTCPK:AEGXF) | 0 | 113.04 (8 Drips) |
| Nutrien (NTR) | 27.37 | 29.69 |
| Cisco (CSCO) | 51.06 USD | 52.82 (1 Drip) |
| TD Bank (TD) | 102.70 (1 Drip) | 170.88 (2 drips) |
| Bank Of Nova Scotia (BNS) | 92.70 (1 Drip) | 110.21 (1 Drip) |
| SmartCenters (OTCPK:CWYUF) | 32.53 (1 Drip) | 35.61 (1 Drip) |
| RIT ETF (RIT) | 65.13 (3 Drips) | 67.56 (3 Drips) |
| Telus (TU) | 82.21 (3 Drips) | 135.10 (4 Drips) |
| Algonquin Power (AQN) | 86.20 (4 Drips) | 196.23 (11 Drips) |
| TC Energy (TRP) | 115.71 (1 Drip) | 155.70 (2 Drips) |
| Bell Canada (BCE) | 109.38 (1 Drip) | 151.80 (2 Drips) |
| Totals | 872.00 | 1336.01 |
36 stocks Dripped in July. $464.01 more than last year, or a 53.21% increase. After last month's 52% increase, I didn’t think that could be beaten and yet here we are. Wonderful, and all those drips... Guess could be more if Aecon keeps dropping... maybe grab some more at these prices.
Our DRIPs (Dividend Reinvestment Program) added $52.49 to our yearly forward dividends this month. Sweet!
July 2022 passive income (Author)
Other Income
Private Investment Payment – $1000.00
1k a month, Straight to the HELOC.
Solar Panel Income
In June (we always get paid a month later) our solar panel system generated 1,361 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $386.83 into our chequing account this month.
Last June the system generated $385.92 so we are slightly higher this year again. Crazy how close it is though eh? Nature...
Total Income for 2022: $1,317.44
System Installed January 2018
Total System Cost: $32,396.46
Total Income Received: $11,202.66
Amount to Break even: $21,193.80
July 2022 passive income pie chart (Author)
Total July 2022 Passive Income: $2,722.84
July 2021 Passive Income: $1,757.92
Basically a thousand bucks more this month than last year. Make your plan, visualize your plan, go get it. Pay yourself first!
July 2022 passive income totals (Author)
Totals For 2022
Dividends Year To Date Total: $6,586.17
Other Passive Income Year to date: $7,521.6
Total Passive Income for 2022: $14,107.77
Year-End Goal: $25,000
July Stock Purchases
This month we made one stock purchase.
TD Bank
I wanted to beef up our position since we were so close to getting 2 dripped shares a quarter. This purchase enabled us to do just that. A wide moat Canadian stock that’s trading at a good price.
We added 28 shares at around 83 bucks a share. This purchase adds $99.68 to our forward income.
Last month was a little slower with purchases as we put more money into paying the HELOC back at the moment and spending more on life in general. Summer is short, enjoy it.
Financial Goals Update
Charities
- We continue our monthly donation to The Nature Conservancy of Canada of $85.
Increase Dividends by $4285.81 this year (bringing our forward income from dividends to $13,000 a year)
The goal for 2022 is to have a forward passive income of $27,500 by the end of the year. I plan on doing this by refinancing our house and taking advantage of these low interest rates. I want to max out some accounts and let compounding do their magic. It's a big goal and will almost double our current passive income.
- With New Purchases, DRIPs, and dividend raises, we continued to grow the size of our dividend portfolio. Total increased so far in 2022 is $3,118.06
ETF Monthly Minimum Purchase of $250
- This month we added 12 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.
July 2022 Passive Income Conclusion
A great month all across the board. Passive income and life in general. August will be lower with passive income but full of activities once again.
I hope you all had a wonderful month as well. Readers, I'd like to know what you would like to see more of on the site. I have basically just been doing these monthly passive income posts for a while now. I see more and more of you following along the journey but comments are way down. I'd love to connect with more of you here.
Anyways wish you nothing but the best, Cheers!
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
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