May 2022 Dividend Income Update

Half the year is over, I cannot believe it. I seem to say that every year, but for some reason in the past few years, it seems even more relevant.

Life has been pretty busy (I’m sure it has been for you too!) because it’s lawn mowing season.

I don’t remember grass growing so quickly in the previous years but it’s probably because we didn’t maintain the grass very well in the past.

So far, I’ve mowed the lawn twice and my husband has mowed the lawn twice. This season was the first time I have tried mowing the lawn, and boy, is it hard work!!

It’s a huge ‘total body workout’ in my opinion, especially when you’re trying to mow the lawn when the grass is a little damp (there have been no stretches of dry weather here in the PNW so far).

My husband is inclined to just outsource the lawn care but I am trying to rationalize with myself that ‘doing it yourself’ is worth it and it will get easier once we can get rid of the weeds. However, BOTH times that I have mowed the lawn, I have thoughts of “ugh we should just outsource this, this is a waste of 2 hours of my time”.

I also made a cake for my little one’s birthday, the actual cake looked terrible (it was sunken in the middle, lop sided, and I didn’t cut the ‘tier’ evenly) but thankfully whipped cream is very forgiving and covered it all up.

I think the materials (whipped cream, eggs, fresh fruit) cost about $7, and a cake like this would be around $40 or so from a bakery.

However, I estimate I spent about 2.5 hours of my time fiddling with this cake.

Just like passive income though, you make the initial investment (investment of time, learning how to make this cake) and the following cakes will be much easier and more ‘passive’ (similar to your invested capital spouting off dividends as time goes on).

I made roast duck again. I picked up a chicken roaster (to avoid that terrible duck juice spill) and this time roast duck worked out quite flawlessly.

Okay enough about food!

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 April 2022 Dividend Income Update if you want to look at my dividend portfolio from last month.  The forward annual yield at that time was $24,590.

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

My May 2022 Forward Dividend Income is $25,302 and this is a 2.9% increase from last month, or a $712 increase.

I made my 2022 dividend income goal with a few months to spare, woo hoo.

My “hourly rate” is now $2.89 whether I’m eating or sleeping or mowing the lawn. Or the rate is $12.16/hour if I was working a 40 hour work week.

Here’s my June 2022 screenshot chart from Wealthica below on my 12 month performance relative to the S&P/TSX and S&P500.

I am beating the market (S&P500 and S&P/TSX but it’s not anything to be proud of since it is still less than 4% return which doesn’t even touch inflation.

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 May 2021 forward dividend income was $18,316, my May 2022 forward dividend income is $25,302 so my YoY increase is around 38%.

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

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 Pro App. I just renewed for another year and they increased the price, it’s now $15.50 for a year but I think it’s worth it so I can keep myself updated regarding dividend payments and changes.

Here are the companies and ETFs that paid dividends in May 2022. It was an average payout month.

• Bank of Montreal (BMO.TO)
• LVMH Moet Hennessy ADR (LVMUY)
• National Bank (NA.TO)
• Toronto Dominion Bank (TD.TO)
• Verizon Communications (VZ)
• iShares S&P/TSX Capped REIT Index ETF (XRE.TO)
• Riocan Real Estate Investment Trust (REI-UN.TO)
• BMO Laddered Preferred Share ETF (ZPR.TO)

DIVIDEND PORTFOLIO CHANGES

Here are some of the portfolio changes last month, the big increase this month is mainly because of dividend increases.

• Bank of Montreal increased their dividend by 4.51% from $1.33 to $1.39 per quarter. This increased my forward dividend income by about $100.
• Telus Corporation increased their dividend by 3.42% from $0.3274 to $0.3386 per quarter.
• Suncor Energy Inc. increased their dividend to $1.88 from $1.68 annually, an increase of 11.9%. This increased my forward dividend income by over $100 too.
• Sunlife FInancial increased their dividend by 4.55% to $0.69 per quarter from $0.66.
• National Bank increased from $0.87 to $0.92 per quarter up 5.7% .

Here are some of the purchases I made last month:

• Bought more Manulife Financial (MFC.TO)
• Bought more Vanguard Ex-Canada Global All Cap (VXC.TO)
• Bouth more iSHARES S&P/TSX CAPPED REIT (XRE.TO)
• Bought more Power Corporation of Canada (POW.TO)
• Bought more Vanguard Index Funds Total Stock Market ETF (VTI)

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

How did your May go?

Do you do your own lawn care or do you outsource it?