One thing I love about living in Canada is the stark contrast between seasons. By virtue of the weather changing so drastically, we’re reminded of life cycles and the need to prepare for each.
In closing off 2023, I’m mindful of how fortunate I’ve been in building such a solid foundation over the years. Regardless of the climate—political, natural, or otherwise—my portfolio keeps performing.
Table of Contents
Dividend Summary
I received CAD income from 26 businesses, along with 12 in USD. This is two more companies than last year, and represents the growing nature of my holdings. As much as I’d like to consolidate and perhaps even shrink this number, it’s tough when there are so many wonderful businesses I want to own.
I also have 10 holdings which do not kick off cash flow.
This puts me at 48 holdings, most of which are income-producing machines, increasing their payouts year after year.
CAD Dividends
| Company | CAD Payments ($) | Div Change (%) |
|---|---|---|
| Toronto Dominion Bank (TD) | 768.00 | 7.87 |
| RioCan Real Estate Investment Trust (REI-UN) | 279.28 | 5.88 |
| The Coca-Cola Company (KO) | 328.51 | 4.55 |
| Johnson & Johnson (JNJ) | 404.78 | 5.31 |
| BCE Inc. (BCE) | 840.95 | 5.16 |
| Canadian Imperial Bank of Commerce (CM) | 82.56 | 4.82 |
| Corby Spirit and Wine Ltd. (CSW-B) | 42.00 | -4.55 |
| Bank of Nova Scotia (BNS) | 418.00 | 2.91 |
| TELUS Corporation (T) | 354.22 | 7.38 |
| Rogers Communications Inc. (RCI-B) | 110.00 | |
| Fortis Inc. (FTS) | 445.59 | 4.42 |
| Canadian Utilities Limited (CU) | 421.68 | 0.99 |
| Canadian National Railway Company (CNR) | 142.20 | 7.85 |
| Canadian Pacific Railway Limited (CP) | 38.00 | |
| Hydro One Ltd (H) | 303.88 | 6.01 |
| Chartwell Retirement Residences (CSH-UN) | 61.20 | |
| Metro Inc. (MRU) | 24.20 | 10.00 |
| Brookfield Renewable Partners L.P. (BEP-UN) | 522.53 | 5.47 |
| Brookfield Renewable Corporation (BEPC) | 238.35 | 5.47 |
| Brookfield Asset Management (BAM) | 8.61 | |
| Brookfield Corporation (BN) | 8.32 | |
| Brookfield Infrastructure Partners L.P. (BIP-UN) | 173.98 | 6.25 |
| Brookfield Infrastructure Corporation (BIPC) | 74.80 | 6.25 |
| A&W Revenue Royalties Income Fund (AW-UN) | 100.80 | |
| Enbridge Inc. (ENB) | 88.76 | 3.20 |
| Saputo Inc. (SAP) | 21.90 | 2.78 |
All Canadian companies are owned in CAD. JNJ and KO are both held in CAD within my portfolio and so the dividends are received as such.
USD Dividends
| Company | USD Payments ($) | Div Increase (%) |
|---|---|---|
| Waste Management, Inc. (WM) | 119.00 | 7.69 |
| McDonald’s Corporation (MCD) | 111.23 | 9.87 |
| Yum! Brands, Inc. (YUM) | 80.24 | 6.14 |
| Yum China Holdings, Inc. (YUMC) | 17.24 | 8.33 |
| PepsiCo, Inc. (PEP) | 39.535 | 10.00 |
| Walmart Inc. (WMT) | 28.95 | 1.79 |
| Visa Inc. (V) | 23.85 | 15.56 |
| AbbVie Inc. (ABBV) | 266.40 | 4.96 |
| Microsoft Corporation (MSFT) | 30.85 | 10.29 |
| Mastercard Incorporated (MA) | 13.60 | 16.33 |
| Apple Inc. (AAPL) | 14.25 | 4.35 |
| Abbott Laboratories (ABT) | 5.10 | 8.51 |
Passive Income Totals
The solid finish to 2023 resulted in totals of C$6,303.10 and U$750.06, melding for a currency-neutral total of $7,053.16. It’s incredible to see this much income rolling in passively and exciting to know there’s plenty more to come in the future as this compounds.
In relation to my Annual 2022 Dividend Totals, I’ve posted a 10.25% growth rate. This is actually higher than 2021 and 2022 where I posted 2.32% and 8.72% bumps, respectively. Seeing my dividend growth actually accelerating after two single-digit years is exciting. I’m looking forward to seeing what I can do in the year ahead.
Market Activity
I went to the market eight times in 2023 to increase my share ownership across four diverse enterprises.
In total, I invested a total currency-neutral cash outlay of $8,670.28:
| Company | Total Cost | Tranches |
|---|---|---|
| TELUS Corporation (T) | C$1,800.10 | 2 |
| Brookfield Infrastructure Partners L.P. (BIP.UN) | C$4,749.50 | 4 |
| A&W Revenue Royalties Income Fund (AW.UN) | C$1,044.05 | 1 |
| Abbott Laboratories (ABT) | U$1,079.63 | 1 |
Seeing my total investment amount drop in 2023 is not much of a surprise. It’s my first full year of home ownership, so with this comes the usual expenses around the house. All the same, investing +$8.5k is still healthy and will continue to fuel the dividend growth engine.
Podcasts
One of the highlights of the year was being featured on two podcasts. This is something I hadn’t done previously, but the opportunities were presented from two sources I respect, so it was something worth the time and effort.
You can check the podcasts out here:
Both focused around investing philosophies, the importance of dividends and cash flow, and other themes in these spheres.
I appreciate and am thankful for being invited to these podcasts and recommend checking out their other content, as well.
Conclusion
My full-year passive income target was $7,000 and I crossed the finish line comfortably.
Looking back at my dividend income across the years, this +$7k figure really stands out for a number of reasons:
- I only spent one year in the $6k range before leapfrogging into a new thousand-dollar range. That represents the incredible growth taking place in my portfolio.
- If I add up all of the dividends I received from 2009–2014, my first five years of investing, the number is still ~$1,400 short of my 2023 total alone. The lesson here is that even if it feels slow at the start, just stick with it.
Nothing in life matters as much as sustained effort. It doesn’t matter whether a person starts out with some great advantages or has nothing. What counts in the long run is whether that person steadily works toward a goal.
You need the ups and the downs to cut your teeth on life.
On a forward-income basis, I’m now pulling in ~$600 monthly. Let’s keep the momentum going.
Thanks again for reading and following my journey.
Ryan
Full Disclosure: Long all investments listed in the article.