November 2023 Dividend Income Update

A few days ago, the investing community lost a very important member, Charlie Munger. He almost made it to 100. In his 99 years, he wasn’t spared from some difficult experiences in life. He lost his young child to cancer, he was divorced, lost much of his savings right before he turned 30, and lost his vision in one eye. And yet he rose against the odds and continued to find wisdom and life lessons despite the setbacks.

There was a beautiful tribute from Li Lu, posted on his Facebook page. Here it is:

Remembering my teacher Charlie Munger

Thursday, November 30, 2023

I was on a business trip in Asia on Tuesday when I got the call from the Munger family informing me that Charlie was in his final hours. I hopped onto the next flight I could find to California, and before departure, was able to talk to Charlie through the help of his daughter. Charlie had largely lost consciousness, but still I could clearly hear him trying to make a sound to acknowledge he had heard me. Upon landing, I learned that Charlie had left us a few hours earlier.

I arrived at his Santa Barbara home and had the opportunity to spend cherished time with family members, reminiscing about all things Charlie. Charlie was engaging, humorous and full of wit even at Thanksgiving dinner just a few days ago, family members told me. I visited his home library again. In that very room, exactly 20 years ago, also on a post-Thanksgiving weekend afternoon, following the introduction by our mutual friend Ron Olson, Charlie and I first struck up a deep conversation which ran for several hours. It began an investment partnership that has now endured two decades. Charlie became my mentor, partner, dear friend and above all, life-long role model.

I was so deeply grateful that the Munger family made a special arrangement the next day for me to say a proper and private goodbye to Charlie.

There, lying quietly with eyes closed, Charlie looked the same as ever, peaceful and sincere with a subtle smile on his face. There was a serenity about him. For a moment, I was reminded of the Living Buddhas I once saw in the Buddhist temples of Thailand. In the Buddhist tradition, the bodies of truly enlightened monks, through life-long self-cultivation, can remain incorrupt, without any traces of mummification after death. In that moment, it is what I saw in Charlie, an enlightened sage with an incorruptible body, surrounded by a glimmer of eternal light.

Charlie was not a Buddhist. That vision can never be tested. But it is incontrovertible that his legacy and impact will live on for generations to come.

In our capitalist society, where do virtue, moral responsibility, truth-seeking and public service fit in? Charlie Munger answered these questions through his long exemplary life. He insisted on making money in the most morally sound way, entering transactions only when, if positions were reversed, he would comfortably take the other side. He sought worldly wisdom through life-long learning. He guided life with rationality devoid of mental deficiencies such as envy, resentment and self-pity. He faced and persevered through countless adversities with stoicism and equanimity. As he gained in wealth and stature, he showed little appetite for the trappings of that success, and instead spent his wealth on worthy causes and tirelessly spread his worldly wisdom to those who would listen, often with humor. He remained deeply engaged with family, friends, partners and the broader world with loving assiduousness through his last days.

In his later decades, Charlie Munger’s ideas began to spread across the world, particularly in the most populous countries of China and India. In China, the Mandarin language version of “Poor Charlie’s Almanack,” an anthology by and about Charlie Munger, sold over 1.2 million copies over the last 10 years. There, the educated class increasingly came to view Charlie as the embodiment of the modern-day Confucianism, maintaining a virtuous and enlightened life while embracing the market forces of capitalism. In time, that vision of modern Confucianism will be crucial for Chinese modernization and how China interacts with the rest of the world.

Charlie’s teachings will continue to spread, inspire and impact the world even more profoundly. That will be his eternal legacy.”

Rest is peace Mr. Munger, I’m grateful that I was able to see you at the 2016 Berkshire Hathaway Annual General Meeting and the 2018 Daily Journal Annual Meeting.

Here’s my dividend income update.

November 2023 Dividend Income Update

My goal for 2023 is at least $35,000 annually of dividend income (definitely not a big deal if I don’t get this, my main goal was a 7 figure portfolio), or about a $1,000,000 dividend/ investment portfolio with a conservative 3.5% dividend yield.

I will definitely not hit the $35,000 per year goal with one month left but at least I’ll be in the ballpark range area.

Here’s my October 2023 Dividend Income Update if you want to look at my dividend portfolio from last month.  The forward annual yield at that time was $32,785.

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


My November 2023 Forward Dividend Income is $33,361 and this is a 1.8% increase from last monthor a $576 increase in annual dividend income.

My “hourly rate” is now $3.81 whether I’m eating or sleeping or cleaning my stove.

Or the rate is $16.04/hour if I was working a 40 hour work week. I have a 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 this year.

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 (14.76% over 12 months compared to the S&P500 which is 18.67% and the S&P/TSX which is 8.04%).


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 November 2022 forward dividend income was $28,072 and my November 2023 forward dividend income is $33,361 so my YoY increase is less this month, only 18.8% (usually it’s around 23%),

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 November 2023.

It was a below average dividend payout month (under $2000 this month).

  • National Bank (NA.TO)
  • Power Corporation of Canada (POW.TO)
  • Verizon (VZ)
  • Riocan REIT (REI.UN)
  • Bank of Montreal (BMO.TO)
  • iShares S&P/TSX Capped REIT Index ETF (XRE.TO)
  • Fortis (FTS.TO) also paid their dividend on the first of December

DIVIDEND PORTFOLIO CHANGES

There were a number of dividend increases last month, especially with the Canadian banks.

  • Added 50 shares of TD Bank (TD.TO)
  • Added more Vanguard ex-Canada ETF (VXC.TO)
  • National Bank (NA.TO) increased their quarterly dividend from 1.02 to 1.06, which is about a 3.9% increase
  • Sunlife (SLF.TO) increased their quarterly dividend from 0.75 yo 0.78 which is about a 4% increase
  • Bank of Montreal (BMO.TO) increased their quarterly dividend by 2.3% from 1.47 to 1.51 per quarter
  • TD Bank (TD.TO) increased their quarterly dividend from 0.96 to 1.02 which is a 6.3% increase
  • Suncor (SU.TO) increased 2.08 to 2.18 which is a 4.8% increase

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

How did your November investing go?

Do you have any favourite Charlie Munger quotes?

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