March 2024 Dividend Income Update

Two weeks for spring break felt very long and tiring despite camps for the kids (mind you, the camps were like somewhere between 1.5 to 3 hours long). There was also the Easter holiday long weekend that got added to that, AND my younger one was sick at home, on the day after the break.

I think next year I’ll aim to try going on a short trip somewhere so I can preserve my sanity.

One day during spring break, after making three complete meals, at 9:30pm I went on to deep clean the stove and oven. I was done the chore about an hour later. I like to correlate my $MFC dividend payment with deep cleaning the stove and oven. It makes the chore less painful- gives me my dopamine hit for completing the task, that is, a nice $524 in dopamine.

It doesn’t hurt that the payment went up 9%!

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

March 2024 Dividend Income Update

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

Here’s my February 2024 Dividend Income Update if you want to look at my dividend portfolio from last month.  The forward annual yield at that time was $34,667.

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


My March 2024 Forward Dividend Income is $34,938 and this is an 0.78% increase from last monthor a $271 increase in annual dividend income.

My “hourly rate” is now $3.99 whether I’m eating or sleeping or cleaning my stove.

Or the rate is $16.80/hour if I was working a 40 hour work week.

By golly, 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 the S&P/TSX and S&P500 taken last month.


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 March 2023 forward dividend income was $30,550 and my March 2024 forward dividend income is $34,938 so my YoY increase is 14.4%.

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. 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 March 2024. It was a lower than average dividend month again.

  • Fortis (FTS.TO)
  • Manulife Financial (MFC.TO)
  • Suncor (SU.TO)
  • Sunlife Financial (SLF.TO)
  • Vanguard Total Stock Market ETF (VTI)
  • Vanguard Real Estate ETF (VNQ)
  • Vanguard Emerging Market ETF (VEE.TO)
  • Vanguard Total International Market ETF (VXUS)
  • 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:

  • Sunlife Financial (SLF.TO) dripped one share (it’s the only one I still have drip turned on)
  • I updated the 12 month trailing yield for VTI, VXC, VNQ, VEE, VXUS
  • Added 5 more shares of Louis Vuitton Moet Hennessy ADR (LVMUY)
  • Added more Vanguard Total Stock Market ETF (VTI)
  • Power Corporation of Canada (POW.TO) increased their quarterly dividend to 56.25, which represents and increase of 7.1%

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

Next month should be exciting to hit the next threshold of $35,000 annually.

Did you add to your portfolio in March?

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