August 2023 Passive Income Update
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- 3 sources of passive Income
- $302.81 from dividends
- 1 stocks/units dripped in August
- Trailing 12 Month Portfolio Return +3.67%
S&P 500 12 Month Total Return +15.94% for August 2023
S&P/TSX Composite Index 12 Month +7.58% Sept 24 2023
We are starting to see things cool off a bit in the market. While there’s always something to buy I find there are a lot of really tempting prices out there. I guess we are in a interest rates will stay higher for longer environment. Be mindful of what you are buying at the moment.
Life
Time is just flying by. Looking back in August we went to America to go glamping at the KOA with some cousins. Always a great time there!
We went to wonderland once again, Its super fun now that my daughter is tall enough for certain roller coasters. She loves them.. Its super packed though.
I did a job for a client who owns a falconry and made a deal for the falconry experience for our crew. It was sooo cool seeing the hawks/owls and also flying a harris hawk!
Alright, Let’s Get To Our August 2023 Passive Income
Raises/ Cuts
Last month was a quiet month once again for dividend announcements.
Total Added Income from Dividend Raises in 2023 – Negative $-48.24
Still underwater from that 1 dividend cut this year… September brought the raises though!.
August 2023 Dividend Income
5 Companies paid us this month.
| Stocks | August 2022 Income | August 2023 Income |
|---|---|---|
| Smart Centers | 35.77 (1 Drip) | sold |
| Rit ETF | 67.77 (3 Drips) | sold |
| National Bank of Canada | 153.64 (1 Drip) | sold |
| Proctor & Gamble | 31.05 | 31.98 |
| Abbvie | 98.70 | 103.60 |
| Air Products & Chemicals | 74.52 | 80.50 |
| General Mills | 78.30 (1 drip) | 86.73 (1 Drip) |
| Texas Instruments | 0 | 44.64 |
| Totals | 539.75 | 302.81 |
1 stocks/units Dripped in August.
This month is always our lowest and really isn’t getting much additional funds working for it. All us dollars which is always nice, I’ll put that to work soon enough.
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added $2.36 bucks to our forward income…. Almost a coffee these days =)
Other Income
Private Investment Payment – $1000.00
1k a month, very nice!
Solar Panel Income
In July (We always get paid a month later) our solar panel system generated 1,144 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $280.31 into our chequing account this month.
Last July the system generated $309.08, so once again we come in lower.. arg!
Total Income for 2023 – $1,474.18
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$13,646.47
_____________________________________________
Amount to Break even —- $ —18,749.99
Bring on the sun!
Total August 2023 Passive Income – $1,583.12
August 2022 Passive Income – $1,848.83
Solar and dividends both down and our off month. Gotta grow these months back a bit.
Totals For 2023
Dividends Year To Date Total – $5,731.77
Other Passive Income Year to date – $10,238.02
Total Passive Income for 2023 —– $15,969.79
Year End Goal – $26,000 (61.42%)
16k not bad! but we are 10k off, lets go!
August Stock Purchases/Sales
This month we made 2 purchases adding to 1 position we currently have and starting a new position
Purchases
We added to our Couche-tard position as it’s been fantastic for us.
20 shares were acquired at a price of $65.94 per share. Adding $11.20 in forward dividends.
We also started a new position in Brookfield Asset Management. When I sold off all our financial stocks last year, I said I wouldn’t be buying back bns and will instead start a position in bam as I don’t need 3 Canadian Banks.
Td, National Bank and Bam will hold the financial sector down for us moving forward.
31 shares were added to the portfolio at a cost of 44.76 per share. This purchase adds $39.68 in forward dividends.
All in all we added $50.88 in future yearly dividend income with these purchases. Some yield and some higher growth.
Total added forward dividend income from purchases in 2023 – $848.13
Bitcoin
Bitcoin kinda went sideways in August but we continue to add 20 bucks a week to our position.
We decided to go with shakepay because it is regulated in Canada and you shake the phone daily to get some free sats (bitcoin). They recently changed the way shaking sats is done. You get a certain amount per day now
A 100 dollar deposit gets you 10 bucks and 10 for the referrer. Feel free to use my affiliate here if your interested in trying out the crypto space. Or if your a fan of the site and wanna toss me some btc my Shaketag is @hutz8
I appreciate the support.
Financial Goals Update
Charities
Etf Monthly Minimum Purchase of $250
- This month we added 0 more units of xaw etf.
- Questrade* is great because it offers free etf trades and cheaper stock trading options than most Canadian brokers. $250.00 a month would kill us if we needed to pay high trading fees.
- * Note the questrade link is a affiliate link and at no additional cost to you, I would get a little payment if you were to sign up. You could get $50 in free trades by using my affiliate link though.
We didn’t add this month as I felt like our purchases offered a better opportunity at the moment.
August 2023 Passive Income Conclusion
1 month late, wow I’m falling behind. I guess its better than never. On to the September post, I promise it will be better
The posts may be late, but the dividend’s never are – =)
Hey I’m Rob, creator of Passive Canadian Income.
In 2011 me and my wife had almost $60,000 in debt and a negative $7,000 Net Worth. Through hard work and financial education we paid all that off. Now we are focusing on increasing our Passive Income Streams to make the money work for us. Feel Free to Follow along the Journey by clicking the Social Media links below or subscribing to get notified of new posts on the sidebar.
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