February 2022 Dividend Income Update

The bleeding of growth oriented investments (e.g. tech) continues. I must admit it is more fun to watch your net worth grow and see green day after green day, but the bull market party had to come to an end eventually.

Here’s my February 2022 dividend income update, slowly but surely. This month there was a special milestone as I have unlocked $2000/month on average dividend income!

GENYMONEY.CA DIVIDEND INCOME UPDATE

If you’re curious about my liquid net worth, subscribe and you’ll get the report with net worth numbers tomorrow.

My long-term target is at least $35,000 annually of dividend income (definitely not a big deal if I don’t get this, my main goal is a 7 figure portfolio), or about a $1,000,000 dividend/ investment portfolio with a conservative 3.5% dividend yield.

For one of my 2022 personal finance resolutions, I am aiming for $25,000 in dividend income.

Here’s my January 2022 Dividend Income Update if you want to look at my dividend portfolio from last month.  The forward annual yield at that time was $23,752.

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

My February 2022 Forward Dividend Income is $24,001 and this is a 1.04 % increase from last month, or a $249 increase.

Here’s my September 2021 screenshot chart from Wealthica below on my 12 month trailing performance relative to S&P/TSX and S&P500. Amazingly, to my surprise, my returns are close to S&P500 returns (this wasn’t the case earlier in the year).

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).

My February 2021 forward dividend income was $17,653, my February 2022 forward dividend income is $24,001 so my YoY increase is around 36%.

Here’s how my forward dividend yield looks like in 2022 compared to the last few years.

This post may contain affiliate links.  Please see genymoney.ca’s disclaimer for more information.

Related: 10 Income Producing Assets to Achieve Financial Freedom

This chart shows my forward dividend income. For my actual dividend income received, I just check my Wealthica account really quickly and it takes 1 minute to do, as part of the income add-on (which is free). You just click on the add-on section, then click on income, and toggle the dates to what you are looking to review.

I use Wealthica (it’s like the Canadian version of Personal Capital) to see my dividend income added up for the month because it automatically converts USD to CAD for me, no more calculating it manually (though that’s always fun).

You can read my Wealthica review here if you’re interested in it– it’s free to sign up for!

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 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 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 Predictor App. I think it’s worth the $1 a month or so.

I don’t normally drip and would rather use that cash to invest manually, but I do have a Questrade DRIP set up for Sunlife (from a while ago) when dividends are paid.

Here are the companies and ETFs that paid dividends in February 2022. It was a lower than average month of dividend payments.

• Bank of Montreal (BMO.TO)
• iShares S&P/TSX Capped REIT Index ETF (XRE.TO)
• National Bank (NA.TO)
• Power Corporation of Canada (POW.TO)
• Riocan Real Estate Investment Trust (REI-UN.TO)
• BMO Laddered Preferred Share ETF (ZPR.TO)
• Verizon Communications (VZ)

DIVIDEND PORTFOLIO CHANGES

Here are some of the portfolio changes last month:

• Bought more Vanguard Global All Cap ex-Canada ETF (VXC.TO)
• Bought more Power Corporation of Canada (POW.TO)
• Bought more Vanguard Total Stock Market ETF (VTI)
• Picked up more Vanguard Real Estate ETF (VNQ)

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

How did your February go?