- 4 sources of passive Income
- $848.52 from dividends
- 41 stocks/units dripped in January
- Trailing 12 Month Portfolio Return 2.11%
Hey Hey Hey
What a start to the year eh? The market is flying and the deals are getting harder to find. Bitcoin is up over 37% in January as well. Does it make sense? I dunno…. We are starting to see massive tech layoffs, crazy energy bills and some companies lowering guidance. But overall things do look better in the market than what I was expecting, although winter isn’t over yet. One could argue – here in Ontario that it actually just begun. (around -30 the last couple days) This month’s Enbridge bill is gonna be fun!
Life
In November we had to put down our husky Sage after being together for almost 16 years. We planned to be dog free for awhile, the house would be quieter, travelling would be easier etc etc. Well that didn’t last long, after our trip last month I was ready for another dog. The house was too quiet and let’s be honest we don’t walk our dogs, they walk us. I missed that a lot, going on hikes or just taking the dog on walks.
Well we went to the extreme after seeing not many kid friendly/dog friendly dogs at the humaine society. We got an 8 week old puppy. What were we thinking! Its a lot of work, I have never had a puppy in my life before. You know it will be some work but boy oh boy haha. Anyways shes getting better – House trained crate trained etc but we need to work on her jumping on the kids skillz. haha
Anyways shes a mini Australian sheppard, border collie cross. Full of energy, loves playing fetch, running and barking……….
I got that bowflex I mentioned last month. Its been great and I’ve been using it quite a bit. Body is getting swole and the wife is giving me that wink again. (old bowflex commercial) At the start I was really good with diet but have started falling off that again. Room for improvement still.
Our daughter turned 5 and was finally able to have her first real birthday Party. (covid lockdowns) Chucky cheese. It was a great time and they even have all you can play packages, which was just fantastic.
Alright, Let’s Get To Our December 2022 Passive Income
Raises/ Cuts
Let’s start this off with the bad news, we all knew it was coming.. Algonquin cut its dividend by 40%, a big cut but honestly I was expecting a 50% cut once the stock price tumbled and they mentioned they would be looking at their dividend. Their debt is a big concern and kinda seems like a canary in the coal mine situation in this interest rate environment. Will this dividend cut be enough to fix the situation? Time will tell. They still own the water and renewable’s though, so I’m holding on to this position.
Total forward dividends lost – 247.84
CNR – They announced their yearly raise in January like clockwork. The raise was lower than I was expecting (based on historical raises) but still was a nice 7.8% raise. This added $25.07 to their forward income.
APD – One of my best pickups in 2022 came through. Not only has this stock jumped from like 220 last year to over 300 but they also continue to raise that dividend. They raised their dividend 8% adding an additional $23.92. Hydrogen continues to be an area I’m really excited about moving forward and they seem to be really well positioned for that moving forward.
Total Added Income from Dividend Raises in 2023 – Negative $198.85
Unfortunately we start 2023 with negative forward income from raises and cuts. While our portfolio is full of better companies than when I first started, cuts can and do still happen.
January 2022 Dividend Income
9 Companies paid us this month.
| Stocks | January 2022 Income | January 2023 Income |
|---|---|---|
| Rit ETF | 66.35 (3 Drips) | sold |
| Smart Centres | 33.45 (1 Drip) | sold |
| Restaurant Brands | 75.07 | sold |
| Bank of Nova Scotia | 105.00 (1 Drip) | sold |
| Nutrien | 27.99 | 31.21 |
| Telus | 87.09 (2 Drips) | 1.40 |
| Bell Canada | 140.88 (2 Drips) | 155.48 (2 Drips) |
| TD Bank | 117.48 (1 Drip) | 42.24 |
| Aecon | 0 | 116.55 (12 Drips) |
| TC Energy | 117.45 (1 Drip) | 159.30 (2 Drips) |
| Cisco | 51.06 | 53.58 (1 Drip) |
| Xaw ETF | 90.09 (2 Drips) | 82.68 (2 Drips) |
| Algonquin Power | 113.02 (6 Drips) | 206.08 (22 Drips) |
| Totals | 1,024.93 | 848.52 |
41 stocks/units Dripped in January.
Our dividend income is lower year over year as we sold a bunch of positions to pay off our heloc. The lower prices of Algonquin and Aecon really pumps up our drips though. This may be a record for drips. =)
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added $36.14 in future dividends.
Other Income
Private Investment Payment – $1000.00
1k a month, very nice!
Solar Panel Income
In December (We always get paid a month later) our solar panel system generated 115 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $27.98 into our chequing account this month.
Last December the system generated $36.33 so we are slightly lower. Winter months for solar definitely don’t do much.
Total Income for 2023 – $27.98
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$12,200.27
_____________________________________________
Amount to Break even —- $ –20,196.19
Slowly but surely. 5 Years of having the system and we have paid off 37.65% of the system. Definitely lower than what we were told the system would generate. Is it the tree or just a classic sales pitch of over promise? Who knows, it is what it is. Bring on the summer!
Cash Back Credit Card
Every year in January we get money from using our cashback Credit card the previous year. We always pay our balances off, so this is bonus money. In January we received $763.84. Sweet! A big jump from 2022, clearly we are spending more…. Inflation?
Total January 2023 Passive Income – $2,640.34
January 2022 Passive Income – $2,257.44
While our dividend income is down, the overall passive income continues to increase. It’s a beautiful thing!
Totals For 2023
Dividends Year To Date Total – $848.52
Other Passive Income Year to date – $1,791.82
Total Passive Income for 2023 —– $2,640.34
Year End Goal – $26,000
We ended 2022 with a passive income just over 24k. The goal for this year is 26 thousand. Not a huge increase, but a solid one overall. I don’t want to be chasing yield just to achieve a higher income goal. Let’s get it!
January Stock Purchases
Let’s be honest, my buys have been extremely boring lately. I continued to grow our Microsoft position. During the last year we grew our position from almost nothing to now a top 3 position. Currently I think this is a full position now unless we see Microsoft under 200….
We added 7 more shares of Microsoft for $226.93 per share adding $19.04 in forward income.
Bitcoin
As I mentioned at the start of this post Bitcoin has been on a massive tear since the start of the year. With the ftx scandal in the rear mirror, crypto can run again. Just remember all these scandals and stuff is always these crap coins… Personally I’m only sticking with Bitcoin.
Total invested – $310
I decided to go with shakepay because it is regulated in Canada and you shake the phone daily to get some free sats (bitcoin). I shake everyday and with a 77 day streak, I’m now getting about 12 cents a day in free bitcoin.
A 100 dollar deposit gets you 10 bucks and 10 for the referrer. Feel free to use my affiliate here if your interested in trying out the crypto space. I appreciate the support.
Financial Goals Update
Charities
Etf Monthly Minimum Purchase of $250
- This month we added 6 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.
- * Note the questrade link is a affiliate link and at no additional cost to you, I would get a little payment if you were to sign up. You could get $50 in free trades by using my affiliate link though.
January 2023 Passive Income Conclusion
The year starts off with lots of good news, but the algonquin cut still hurts. Its part of investing though, always stay diversified. The year is young, there is still plenty of time to set new highs in income.
When Nothing is Sure, Everything is Possible – Margaret Drabble
Hey I’m Rob, creator of Passive Canadian Income.
In 2011 me and my wife had almost $60,000 in debt and a negative $7,000 Net Worth. Through hard work and financial education we paid all that off. Now we are focusing on increasing our Passive Income Streams to make the money work for us. Feel Free to Follow along the Journey by clicking the Social Media links below or subscribing to get notified of new posts on the sidebar.
