April 2024 Dividend Income Update

This month I crossed the $35,000 threshold, that was my 2023 personal finance goal that I didn’t hit. Better late than never!

After I reach the $36,000 threshold I’m still contemplating whether I should continue on just focus on investing in ETFs and non-dividend paying companies (e.g. BRK.B). I have to admit, it is very encouraging to see the numbers keep going up each month on a screen.

Speaking of Berkshire, the Annual General Meeting occurred this last weekend and it was the first time without Charlie Munger. I didn’t have time to watch the whole thing but enjoyed clips of it on X/ Twitter.

I’m so glad that I got to go to the BRK AGM (in 2016), it was a great experience, and I would go again would it not be so difficult to take kids there.

This one question asked by a 7 year old (I tried to show my almost 7 year old what a poignant question this boy asked and he didn’t seem amused or inspired) to Warren Buffett was beautiful. A not unexpected answer though from Mr. Buffett.

Here are some of Charlie Munger’s most memorable moments, it is definitely not the same without Mr. Munger. The charisma and witty banter between Warren Buffett and Charlie Munger will be missed.

If you like to track your dividend income like I do, here’s a free dividend tracker spreadsheet download for you.

April 2024 Dividend Income Update

My goal for 2024 is to have at least $36,000 annually of dividend income.

Here’s my March 2024 Dividend Income Update if you want to look at my dividend portfolio from last month.  The forward annual yield at that time was $34,938.

A few notes: I leave the US dividends received/ estimated as a 1:1 US and CAD dollar exchange to keep thing simple.


My April 2024 Forward Dividend Income is $35,138 and this is an 0.57% increase from last monthor a $200 increase in annual dividend income.

My “hourly rate” is now $4.01 whether I’m eating or sleeping or cleaning my stove.

Or the rate is $16.89/hour if I was working a 40 hour work week.

My dividend income is making more than minimum wage currently in British Columbia (which is $16.75/hr), at least for now anyway.

On June 1 the minimum wage will increase to $17.40/hr

Talk about passive income!

Here’s my screenshot chart from Wealthica below on my 12 month performance relative to VTI and VEQT. 12 month returns for the S&P/TSX is 7.82% and the S&P500 are 15.17%.

Wealthica Returns 2024

To get to this page, log into Wealthica and click on “add-ons” then click on “Performance Report” in the drop down box. You’ll be able to see how your portfolio compares to the S&P/TSX and the S&P 500 (but it doesn’t include the dividends).

Personally, I think it’s not a bad idea to keep track of how your portfolio compares to the benchmark indices, because if you have 75 different Canadian dividend paying companies and your return over the years is only 4% compounded annually then you might want to think about changing your investment strategy.

Comparing my own portfolio to the benchmark (and being appalled at the measly return) is what prompted me to switch to at least 50% of my portfolio in ETFs a few years ago and since then my portfolio has been doing better total growth-wise.

My April 2023 forward dividend income was $30,883 and my March 2024 forward dividend income is $35,138 so my YoY increase is 13.8%.

Here’s how my forward dividend yield looks like compared to the last few years, it has definitely slowed down recently.

You can read my Wealthica review here if you’re interested in it. It’s not free anymore but it still provides good value for the cost.

I love it as it works especially well with my Questrade accounts because of the API access and the graphing capabilities of Wealthica are much better than what you would just get with Questrade.

Passiv also gives you very detailed information about your dividend income and Passiv Elite is free for Questrade users.You can even see your time-weighted returns for the past 12 months or year to date. It also breaks down exactly how many dividends you received from with companies or ETFs month by month into a pretty colour coded format.

You can sign up for a free Passiv Elite account here to look at your dividends received.

If you prefer your own spreadsheet instead, and you’re interested in getting your own dividend income spreadsheet tracker, sign up for a free download here.

DIVIDENDS RECEIVED

I like tracking upcoming payments and ex-dividend dates using the Dividend Pro App. I just renewed for another year and they increased the price, it’s now $15.50 or so for a year but I think it’s worth it so I can keep myself updated regarding dividend payments and changes.

Wealthica also has a free add-on called “Income Investor Lite” and you can choose to see the Income Calendar, Dividend Holdings, and Upcoming Payments with a subscription of $9.99/year.

You can do a free trial of the upgraded income investor lite (no credit card needed) for seven days.

The upgraded version has an income calendar showing you the upcoming payments.

Also it shows you the dividends paid (in total), and forward yearly dividends expected including the current dividend yield and your yield on cost (in the paid version).

The free version shows you an income chart of the last 12 months of payments and the forward 12 months of payments expected, however the forward 12 months doesn’t seem accurate.

Wealthica Income Investor Lite

I like it because you don’t have to manually update any holdings when you make changes to the number of shares you own etc. however, I don’t like that you can’t see it on the phone (and it’s just on desk top).

Therefore, I’ll stick to Dividend Pro for now.

Here are the companies and ETFs that paid dividends and distributions in April 2024. It was an above average month, over $3700.

  • Telus Corporation (T.TO)
  • Vanguard ex-Canada ETF (VXC.TO)
  • Altria (MO)
  • TD Bank (TD.TO)
  • iShares S&P/TSX Capped REIT Index ETF (XRE)
  • Riocan REIT (REI.UN)

DIVIDEND PORTFOLIO CHANGES

Here are some changes and dividend increases to the portfolio:

  • I updated Riocan Real Estate Investment Trust (REI.UN) the distribution increased by 0.0005 per month
  • The distribution for iShares &P/TSX Capped REIT (XRE.TO) decreased from 0.068 to 0.062 per month
  • This is not a dividend or distribution paying investment, but I finally got rid of the Purpose Bitcoin ETF (BTCC) I had (I only bought $1000 worth and in the past three years, I saw it go down to $500, and then it recently went to $1300 so I got rid of it). It was speculation and I thought it would fun to put my ‘fun money’ there but I’d rather get cold hard dividends instead so…
  • I picked up 50 shares of Fortis (FTS.TO)
  • Bought more Vanguard Total Stock Market (VTI)
  • Finally I added more Telus (T.TO) to the portfolio

Here are some of my favourite five Canadian dividend stocks if you’re interested.

Onwards and upwards.

Did you add to your portfolio in April?

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