Following my usual December protocol, I took just over two weeks in vacation time as an annual slowdown. It provides a nice breather to think about the year that was, along with what’s to come.
Table of Contents
Dividend Summary
I again brought in cash flow in Canadian dollars from seventeen businesses, with six more paying me in USD.
CAD Dividends
| Company | CAD Payments ($) | Dividend Change (%) |
|---|---|---|
| RioCan Real Estate Investment Trust (REI.UN) | 22.19 | |
| The Coca-Cola Company (KO) | 79.19 | |
| Johnson & Johnson (JNJ) | 97.52 | |
| Corby Spirit and Wine Ltd. (CSW.B) | 11.00 | -8.33 |
| Fortis, Inc. (FTS) | 110.18 | |
| Canadian Utilities Limited (CU) | 104.39 | |
| Canadian National Railway Company (CNR) | 32.96 | |
| Hydro One Ltd (H) | 72.70 | |
| Chartwell Retirement Residences (CSH.UN) | 5.10 | |
| Brookfield Renewable Partners L.P. (BEP.UN) | 123.19 | |
| Brookfield Renewable Corporation (BEPC) | 56.19 | |
| Brookfield Asset Management (BAM.A) | 4.22 | |
| Brookfield Infrastructure Partners L.P. (BIP.UN) | 14.59 | |
| Brookfield Infrastructure Corporation (BIPC) | 7.78 | |
| A&W Revenue Royalties Income Fund (AW.UN) | 6.40 | |
| Enbridge Inc. (ENB) | 21.50 | |
| Saputo Inc. (SAP) | 5.40 |
USD Dividends
| Company | USD Payments ($) | Dividend Change (%) |
|---|---|---|
| Waste Management, Inc. (WM) | 27.63 | |
| McDonald’s Corporation (MCD) | 27.14 | 10.14 |
| Yum! Brands, Inc. (YUM) | 18.90 | |
| Yum China Holdings, Inc. (YUMC) | 3.98 | |
| Visa Inc. (V) | 5.74 | 20.00 |
| Microsoft Corporation (MSFT) | 7.52 | 9.68 |
Dividend Earnings Totals
Dividend payments tallied for C$774.50 and U$90.91, coming together for a currency-neutral total of $865.41. This is easily the highest amount I’ve ever received in a single month, creeping precipitously closer to the four-figure mark.
In comparison with my dividends from December 2021, I’ve grown my passive income by 13.30%. It’s a higher bump than I was anticipating, reflecting both organic growth of dividend payments, along with some fresh capital I deployed through the year in companies like Fortis (FTS).
The dividend cut from Corby isn’t altogether surprising. They’ve been up-and-down since COVID, not proving to be a reliable source of income. I’ll continue to hold my shares, but have no intention of increasing my position.
Year To Date Progress
The towers on the chart keep getting taller:
My full-year dividend totals have reached $6,395.98:
| Month | Dividends ($) |
|---|---|
| January | 645.55 |
| February | 101.85 |
| March | 750.44 |
| April | 720.76 |
| May | 103.31 |
| June | 765.11 |
| July | 721.84 |
| August | 103.31 |
| September | 782.04 |
| October | 727.35 |
| November | 109.01 |
| December | 865.41 |
| Total | 6,395.98 |
I comfortably surpassed the goal I had set of $6k in dividend income for the year.
Market Activity and Cash
The additional income from the +$800 in dividends this month gave me plenty of dry powder to be reinvested. Toward the end of the month, I made a final stock purchase to close out the year.
I picked up 20 additional shares of Brookfield Infrastructure Corporation (BIPC). Based on the current dividend rate of $0.54 quarterly and $2.14 annually, this should bring in $10.80 quarterly/$42.80 annually. It’ll then get a foreign exchange bump coming from USD to CAD.
I’m happy to have added to my BIPC stake at lower prices than I paid in August for the same stock.
Aside from the BIPC purchase, I’ve again been accumulating cash and looking for better prices. I wouldn’t be shocked to get some real bargains in 2023 as Central Banks slow down their economies with higher interest rates. If the market takes a dive, I’ll happily pick up more shares.
Conclusion
I’ve had a great December with plenty of rest, relaxation, and gratitude. Taking the time to spend with family and friends, along with some solitude, has been refreshing. Hitting a new record for dividend income makes things even sweeter.
I’ll cover the year in greater detail in a subsequent post about the full year.
All the same, Merry Christmas, Happy Holidays, and all the best in the New Year to come for you and your families.
Full Disclosure: REI-UN, JNJ, CSW-B, FTS, CU, CNR, H, CSH-UN, BEP-UN, BEPC, BAM-A, BIP-UN, BIPC, AW-UN, ENB, SAP, WM, MCD, YUM, YUMC, V, MSFT
Great stuff man.
Nice growth and your getting some chunky positions in there. Nice addition of bip them and bep seem enticing atm.
I may add to our bep position soon enough.
keep it up
cheers!
passivecanadianincome recently posted…December 2022 Passive Income – Wrapping it up!
Hey Rob,
Yeah, I was actually a bit surprised at the growth. And always feels great to get positions bringing in +$100. Juicy when they hit the account and are ready for reinvestment.
BIPC and BEPC are both on the menu this year for me, as well.
Take care,
Ryan