March 2024 Passive Income – More Money — Passive Canadian Income
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- 3 sources of passive Income
- $1,294.57 from dividends
- 19 stock/units dripped in March
- Trailing 12 Month Portfolio Return 6.28%
S&P 500 12 Month Total Return +25.52% for April 2024
S&P/TSX Composite Index 12 Month +12.68% April 2024
Still under performing as a lot of those interest sensitive stocks in the portfolio took a beating the last year. I feel like those stocks have kinda hit a floor while the market as a whole has some room to fall. The values today just seem a little frothy to me. Ahhh well, time will tell.
I’ve had our portfolio going for over 7 years now and have beaten the tsx overall 8.22 percent yearly vs the 7.84 percent the tsx has done. That’s to be expected with us stocks in the picture though as their market just stomps ours =) Just pointing that out as lately it seems there’s lots of people on twitter jumping on dividend investors now that interest sensitive stocks are under performing.
(xaw position and bitcoin not included in these calculations as they are with different brokers) – that would surely bump the overall % up
Find an investing style that works for you and giver.
Life
Life… Well its driving me a little crazy to be honest.. haha
Owning the landscape company really gives me the itch to get going and the weather is giving us a real tease. One day shes sunny rocking like 17 degrees and the next freezing and more snow.. Then warm. Here we are 3 days of rain and shes white again….. Next week looks good though, but I’ve said that before. Now I gotta figure out if I gonna work during the eclipse or call it early…
Hiring has been interesting. Put ads out starting at 24 and up depending on experience. Lots of moms asking about their grown sons, which I won’t even consider. Setup times to meet up and interview with guys who sound all excited and then they no show… Had like 40 people apply and found someone who wants to work.
Then I get a email from some guy bitching me out that 24 isn’t a living wage. That’s a wage from 10 years ago, I wouldn’t work for less than 30. Found that a little interesting. Its basically 8 bucks more than minimum wage and I pay overtime which isn’t required in landscaping. 24 is just for a labourer slinging wheelbarrows to start..Wonder if this guy emails every walmart etc etc posting bitching about minimum wage.
I dunno, I feel like there’s a lot of victim mentality these days. By the way if your a mom, I highly recommend getting your kid to reach out for a job versus you applying for them. Kinda says a lot about the guy right away.
The phones still ringing for work but its clearly not the same as the last couple years. That covid rush is over. Seems to be a general consensus at the moment around here. See how things go once the sun is full force though, but probably got 3-4 months booked already.
Alright, Let’s Get To Our March 2024 Passive Income
Raises/ Cuts
1 Raise this month Aecon came through after not raising last year. (due to projects they quoted before their costs ran up)
They bumped their dividend by 2.7% adding $13.56 to our forward dividends.
Total Added Income from Dividend Raises in 2024 – $186.83
Considering our portfolios average yield is 3.32%. We would need to add $5,627 of new capital to get the income these raises have generated so far this year. Dividend Growth Investing is pretty sweet =)
March 2024 Dividend Income
11 Companies paid us this month.
| Stocks | March 2023 Income | March 2024 Income |
|---|---|---|
| Stanley Black and Decker | 21.50 usd | sold |
| Microsoft | 33.32 usd | 30.75 usd |
| Home Depot | 20.90 usd | 65.25 usd |
| Johnson & Johnson | 75.71 usd | 79.73 usd |
| LMT | 66.00 usd | 78.75 usd |
| Brookfield Asset mngt | 0 | 40.05 |
| Canadian National Railway | 86.11 | 99.71 |
| Allied Property Reit | 0 | 43.80 (2 Drips) |
| Suncor | 216.32 (5 drips) | 237.08 (4 Drips) |
| Brookfield Renewable | 151.57 (3 Drips) | 165.72 (5 Drips) |
| Fortis | 129.95 (2 Drips) | 156.35 (3 Drips) |
| Enbridge | 270.69 (5 Drips) | 297.38 (5 Drips) |
| Totals | 1,072.17 | 1,294.57 |
19 stocks/units Dripped in March.
Quarter ending months are always good ones. Almost all stocks are paying more, besides msft. I took some profits last year and put them into home depot under 300. New Capital, Drips and Dividend raises did the rest of the work. Roughly 20% year over year growth, I’ll take that every time!
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added $47.35 bucks to our forward income….
Other Income
Private Investment Payment – $1000.00
1k a month, very nice!
Solar Panel Income
In February (We always get paid a month later) our solar panel system generated 413.99 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $119.23 into our chequing account this month.
Last February the system generated $72.86, so its safe to say we have had more sun this winter.
Total Income for 2024 – $176.26
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$14,455.22
_____________________________________________
Amount to Break even —- $ —17,941.24
Bob asked me if I can include my monthly power bill in the post to compare, so here it is. Our bill for March was around $130. So our system wouldn’t of covered the power we used this month. Close though!
Total March 2024 Passive Income – $2,413.80
March 2023 Passive Income – $2,145.03
Over 10% more money than last year. Beating inflation =) Beautiful…
Totals For 2023
Dividends Year To Date Total – $2,990.41
Other Passive Income Year to date – $3,951.32
Total Passive Income for 2024 — $6,941.73
Year End Goal – $26,500 (26.19%)
25% of the year done and we are at 26.19% of the goal. Looks like its in reach. Almost 7k a quarter.. dammmmmm that’s a nice family trip for 4. whos needs Avion points? jk we do
Seriously though, a trip a quarter would be nice eh?
March Stock Purchases
Telus – T
We continue to regrow our position in Telus after selling when they were around 30 bucks due to interest rate increase concerns. I think telco’s will be able to manage the interest rates, the political landscape got me a little on edge these days. Spend billions on improving your systems and then the govt may force you to let other competitors use it. I dunno.
Great telco though and I think its at a decent price. (even better now) We added 44 more shares at $23.35 per share adding $66.19 in forward dividend income.
Td Bank – Td
Td still seems to offer a fantastic value at the moment. Id say one of Canada’s best banks with one dark cloud overhanging. (well not including the coming mortgage renewals but that’s all Canadian banks) The money laundering fiasco. They will get a pretty nice fine and move on. The sun will shine again. I’ve been working to get this one to 5% of our portfolio at these prices and just keep chipping away. (Financial’s are still our 2nd lowest sector) We added 13 more shares at $80.64 per share. This added $53.04 to future dividend payments
Overall we added $119.23 in forward income this month from purchases
Total added forward dividend income from purchases in 2024 – $305.02
Bitcoin
As always we buy a small amount every paycheque and just keep dollar cost averaging into it.
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.
March 2024 Passive Income Conclusion
Quarter ending months always get me a little fired up. Things are moving along great. In 2016 we brought in just over 500 bucks all year, if you told me in a couple years we would bring in almost 7k a quarter I probably wouldn’t believe you but here we are. How will things look in 5-10 years, with compounding on our side now?
It hopefully will smell more like coconuts, with the sound of waves crashing in the background, my gorgeous wife beside me, a plate of freshly made tacos and maybe a nice cool Dos Equis or 2……
or maybe it will smell like fish….. with my buddy on a boat catching some monster musky!
haha, lets go!
Where do you see yourself in 5-10 years??
All the best, cheers
Dream Big, Dream Often. Visualize it, Work To Get It.
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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