December 2023 Dividend Income Update

That’s a wrap. The year is over!

My portfolio returned around 13.4% in 2023 while the S&P500 was over 20%.

The TSX returned around 8%.

I’m pretty happy with the results.

I started the year in 2023 with $29054 in projected annual dividend income and ended the year with $34,279 in projected annual dividend income, or an increase of $5225 in dividend income.

Thanks to many dividend increases this last year, I did not have to contribute $150,000 in capital to get this dividend income (estimated using 3.5% dividend returns).

I cleaned up the portfolio by removing two ETFs in the latter part of the year but otherwise just kept adding to positions I already held.

December 2023 Dividend Income Update

My goal for 2023 was at least $35,000 annually of dividend income, or about a $1,000,000 dividend/ investment portfolio with a conservative 3.5% dividend yield.

I didn’t make it as you can see, but still am around the ball park area.

My 2024 goal is to have at least $36,000 in dividend income.

Here’s my November 2023 Dividend Income Update if you want to look at my dividend portfolio from last month.  The forward annual yield at that time was $33,361.

A few notes: I leave the US dividends received/ estimated as a 1:1 US and CAD dollar exchange to keep thing simple (with the exception of Fairfax Financial I just use the CAD dollar amount).


My December 2023 Forward Dividend Income is $34,279 and this is a 2.8% increase from last monthor a $918 increase in annual dividend income.

This was a large increase because of Fairfax Financial’s dividend increase. Their dividend is USD but is paid out in CAD. I was using about $13 CAD and then changed it to $19 CAD per share because of the dividend increase. Their dividend increased by 50% after 14 years of no increase.

My “hourly rate” is now $3.91 whether I’m eating or sleeping or cleaning my stove.

Or the rate is $16.48/hour if I was working a 40 hour work week. I have just a little bit more to go to make minimum wage in passive dividend income since the British Columbia minimum wage got increased to $16.75/hr on June 1, 2023.

Talk about passive income!

Here’s my screenshot chart from Wealthica below on my 12 month performance relative to the S&P/TSX and S&P500 (13.89% over 12 months compared to the S&P500 which is 23.35% and the S&P/TSX which is 7.33%).


I’m not beating the S&P500, but am still beating the S&P/TSX. This is why you shouldn’t have 100% in Canadian equities which is called “home bias”.

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 December 2023 forward dividend income was $28,794 and my December 2023 forward dividend income is $34,279 so my YoY increase is 19.0%.

Here’s how my forward dividend yield looks like compared to the last few years.

You can read my Wealthica review here if you’re interested in it.

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 in December 2023.

  • Sunlife Financial (SLF.TO)
  • Vanguard Total Stock Market ETF (VTI)
  • Vanguard Real Estate ETF (VNQ)
  • Suncor Energy (SU.TO)
  • Louis Vuitton Moet Hennessy ADR (LVMUY)
  • Vanguard Total International Stock Market ETF (VXUS)
  • Manulife Financial (MFC.TO) (I cleaned my stove and oven again)
  • Riocan REIT (REI.UN)
  • Telus Corporation (T.TO) also paid in early January
  • iShares S&P/TSX Capped REIT Index ETF (XRE)

DIVIDEND PORTFOLIO CHANGES

  • Dripped one share of Sunlife (SLF.TO). Here’s more information on how I drip with Questrade if you’re interested.
  • Added more Vanguard ex-Canada ETF (VXC.TO)
  • Added more Vanguard Total Stock Market ETF (VTI)
  • Fairfax Financial (FFH.TO) announced that after 14 or so years of paying $10 USD a share in a dividend, they are increasing it to $15 USD a share, this increased my forward dividend by quite a bit since it is a 50% increase). This made my day!
  • Unfortunately, the next day, Walgreens (WBA) announced that they were reducing their dividend by almost 50% from $0.48 a quarter to $0.25 per quarter. Luckily I have a very small position in Walgreens (well made smaller by unrealized capital loss)

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

How did your December investing go?

Were you satisfied with your portfolio returns for 2023?

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