February 2024 Passive Income – 7 Raises! — Passive Canadian Income
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- 3 sources of passive Income
- $416.17 from dividends
- 3 stock/units dripped in February
- Trailing 12 Month Portfolio Return 7.40%
S&P 500 12 Month Total Return +30.94% for March 2024
S&P/TSX Composite Index 12 Month +16.4% March 2024
Writing that out its actually pretty insane… I thought I may actually be beating the tsx on a 1 year basis as alot of stocks have went down but clearly not. wow
Life
Im writing this post near the end of March, so clearly things have been busy. This month I finished up a basement renovation I did for someone. Actually installed a kids slide in the basement. That was pretty cool.
The landscape season is/ was about to start up but looks like we are going to get dumped in snow today. fun fun! I’ve quoted a lot of work but haven’t gotten as much jobs back as normal. Is that just the weather and early season or will people start being a little tighter with their finances? Time will tell
One of my employees for a couple years said hes coming back this spring, then I say we start in roughly 2 weeks. Oh I cant start til mid May….. Hmmmm so I hire someone else for $24 a hr to start then that guy tells me he found a welding job a week later.. (something he went to school for, good for him) Ohh to be the boss.. This should be fun =)
After going all winter without getting sick I’ve been fighting this man cold/ flu the last week. The coughs have been rough. I’ve been chugging the buckley’s but this time it ain’t working, it just tastes awful. haha
Alright, Let’s Get To Our February 2024 Passive Income
Raises/ Cuts
There was a tonne of raises this month. I don’t know if it was a record but there was a lot. Unfortunately some were smaller raises then expected though.
BAM – Brookfield Asset Management threw down this month. A whopping 18.8% dividend increase. BAM! (sorry I had too) Unfortunately this is a position I have just started to grow in the portfolio, but just highlights why I want to grow it. This raise added $13.68 to our forward income.
BCE – Bell Canada Continued paying out more dividends than their current cashflow and even raised it another 3.1%. Then they fired a bunch of people and the stock has got crushed. Not fully their fault though, this govt now wants to mess with telco’s after they invested so much upgrading their systems. This raise adds $24.61 to our forward divs
NTR – Nutrien – Last year they announced a solid dividend raise. This year they didn’t 1.9%. This adds a large coffee to our life, I guess. =) Its a cyclical company. Here’s hoping for better days ahead. This raise added 2.92 bucks.
CSCO – Cisco Or should I say cisgone… =) They announced another crappy yearly dividend raise of 1 cent. So I decided to sell. We actually did really well on this holding selling for a gain of like 70%. I just got sick of their low dividend raises and their constant acquisitions bringing so much debt, and not much growth. Maybe splunk will turn things around for them. Time will tell.
TRP – TC Energy boosted theirs 3.2% In line with where they were guiding. This adds $22.92
BEP – Brookfield Renewable – Increased their dividend 5.2% adding $24.08. This stock seems attractive here, maybe I’ll add in the future.
DIS – Disney – Is the mouse back? I don’t know but after reinstating their dividend and wondering if it was going to be just once a year. They announced another dividend date and raised it another 50%. Very nice! This raise added $36.61
HD – Home Depot – Wow this stock has been good to us.. I wonder if its a little over priced here, but I guess a lot of things are. They raised their dividend by 7.7% adding another $18.56 to their forward dividend income.
7 dividend increases in one month? Man that’s awesome.
Total Added Income from Dividend Raises in 2024 – $173.27
2 Months of the year done and raises have almost contributed as much as last year. Sweet!
February 2024 Dividend Income
8 Companies paid us this month.
| Stocks | Feb 2023 Income | Feb 2024 Income |
|---|---|---|
| costco | 0 | 3.20 |
| Texas Instruments | 32.24 usd | 46.80 |
| Air Products | 74.52 usd | 80.50 |
| Proctor and Gamble – USD | 31.05 usd | 31.98 |
| National Bank of Canada | .97 | 13.78 |
| Abbvie – USD | 103.60 usd | 108.50 |
| Allied Property | 0 | 43.50 (2 Drips) |
| General Mills – USD | 78.84 (1 Drip) | 87.91 (1 Drip) |
| Totals | 321.22 | 416.17 |
3 stocks/units Dripped in February.
Love seeing it break over 400 and bringing a growth rate of 29.55% year over year.
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added $5.96 bucks to our forward income….
Other Income
Private Investment Payment – $1000.00
1k a month, very nice!
Solar Panel Income
In January (We always get paid a month later) our solar panel system generated 42 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $12.09 into our chequing account this month.
Last January the system generated $11.28, so I guess we are up. This must be the worst month for solar on average then.
Total Income for 2024 – $57.03
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$14,335.99
_____________________________________________
Amount to Break even —- $ —18,060.47
Bob asked me if I can include my monthly power bill in the post to compare, so here it is. Our bill for February was $137.82 So our system wouldn’t of covered the power we used this month.
Total February 2024 Passive Income – $1,428.26
February 2023 Passive Income – $1,332.50
Not a huge growth rate but some growth. The other 2 months of dividend paying stocks have been getting more of our cash.
Totals For 2023
Dividends Year To Date Total – $1,695.84
Other Passive Income Year to date – $2,832.09
Total Passive Income for 2024 — $4,527.93
Year End Goal – $26,500 (17.08%)
16.66% of 2024 done and we are at 17.08% of the goal. If all go’s well looks like we should be able to hit it.
February Stock Purchases
FTS – Fortis
One of Canada’s only dividend kings. 50 years of dividend raises for Fortis. The stock tumbled a bit just like most reits/utilitys and telcos. I thought it was a good time to grow our position and collect another drip quarterly as well.
We bought 27 shares at 51.83 per share. This adds $63.72 in forward dividends
Amazon
After selling our cisco position I decided to put all the proceeds into amazon.. I used to be old school and think I like to go out shopping and talk to people and never really bought from them. Lately we have been buying from them more and more. Renovations have been a little bit of an eye opener, door handles and knobs etc are drastically cheaper and they come the next day.
We also can see whats happening in the states. Allowing people to steal is absolutely insane.. Stores are closing because of it and people will be forced to use something like amazon. Wasn’t that part of the wef 2030 plan? You will own nothing? People will rent items and get them delivered. Ahhh just another conspiracy…
Obviously Amazon is a lot more than shopping these days, but its a company that I wanted in the portfolio moving forward. 0 dividends but gives the portfolio more growth moving forward.
BAM – Brookfield Asset Management
As I’ve said at the start of the year this is a position I really want to grow moving forward. We can see how powerful big time asset managers really are.. Ie Blackrock buying up everything. Bam will probably be the same. Plus its also a huge bonus to be a Canadian company that invests a lot outside of Canada.
I think policy makers have really messed things up the last couple years and its only a matter of time before things start unravelling here. Housing affordability and interest on Canada’s debt increasing 36% yr over yr is a big dilemma. Can they lower rates to help without inflation skyrocketing again… I dunno this govt has proved time and time again, they aren’t that good with money. (Plus we know inflation will rise once they raise the carbon tax by another 23% on April 1st) And yes I know the bank of Canada isn’t run by the government but there sure is a lot of govt pressure on Tiff.
Bam is flush with cash and even said they will be putting that cash to work this year. Top it off with the 18.8% dividend raise, and this should be a very good investment.
We added 21 more shares at a cost basis of $55.88. This adds $31.92 in forward dividends.
Overall we added $95.64 in forward income this month from purchases
Total added forward dividend income from purchases in 2024 – $185.79
Bitcoin
As always we buy a small amount every paycheque and just keep dollar cost averaging into it. I just finished reading the Truth about crypto and it was a great book. It also made me even more bullish in this space. If your a skeptic give it a read, or just look at lots of different bitcoin price charts. Its only becoming more mainstream.
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 – worth a shot =)
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 buy and xaw this month.
February 2024 Passive Income Conclusion
Overall it was a good month. Owning the company will be a big change, but one I’m looking forward to. Just got to figure out all this dam paperwork… haha I have now read 4 books this year. Feels great, if you got any good book recommendations please let me know
cheers
The most pathetic person in the world is someone who has sight but no vision – Helen Keller
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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