The dividends kept rolling in 2024 and my portfolio is better positioned than it ever has been for the road ahead. I’ve spent the past twelve months focusing my investments on energy, infrastructure, and technology.
Table of Contents
Dividend Summary
Dividend income was received in CAD from 26 sources, with another 16 companies contributing in USD. This is up by four on the US side of the equation, as both Meta Platforms Inc (META) and Alphabet (GOOGL) initiated first-time payments, while The Walt Disney Company (DIS) reinstated its dividend which had been suspended since 2020. All positive signs for a strong 2025 and beyond.
I have eight holdings which do not pay a dividend. Beyond that, I also hold a stake in some cryptocurrencies; at this point, I’m just holding these for the ride. I believe decentralized digital currencies will continue to gain prominence over time, though they remain highly speculative with their rampant volatility at this stage. I don’t mind the ups and downs as I suspect it should work out over the long run.
CAD Dividends
| Company | CAD Payments ($) | Div Change (%) |
|---|---|---|
| Toronto Dominion Bank (TD) | 816.00 | 6.25 |
| RioCan Real Estate Investment Trust (REI-UN) | 288.38 | 2.78 |
| The Coca-Cola Company (KO) | 354.43 | 5.43 |
| Johnson & Johnson (JNJ) | 428.18 | 4.20 |
| BCE Inc. (BCE) | 871.20 | 3.10 |
| Canadian Imperial Bank of Commerce (CM) | 86.40 | 3.45 |
| Corby Spirit and Wine Ltd. (CSW-B) | 43.00 | 4.76 |
| Bank of Nova Scotia (BNS) | 424.00 | |
| TELUS Corporation (T) | 475.08 | 7.01 |
| Rogers Communications Inc. (RCI-B) | 110.00 | |
| Fortis Inc. (FTS) | 465.08 | 4.24 |
| Canadian Utilities Limited (CU) | 425.92 | 1.00 |
| Canadian National Railway Company (CNR) | 152.12 | 6.96 |
| Canadian Pacific Railway Limited (CP) | 38.00 | |
| Hydro One Ltd (H) | 322.13 | 6.01 |
| Chartwell Retirement Residences (CSH-UN) | 61.20 | |
| Metro Inc. (MRU) | 26.80 | 10.00 |
| Brookfield Renewable Partners L.P. (BEP-UN) | 597.71 | 5.19 |
| Brookfield Renewable Corporation (BEPC) | 525.48 | 5.19 |
| Brookfield Asset Management (BAM) | 10.41 | 18.75 |
| Brookfield Corporation (BN) | 9.69 | 14.29 |
| Brookfield Infrastructure Partners L.P. (BIP-UN) | 340.78 | 5.88 |
| Brookfield Infrastructure Corporation (BIPC) | 79.77 | 5.88 |
| A & W Food Services of Canada Inc. (AW) | 211.48 | |
| Enbridge Inc. (ENB) | 91.52 | 3.10 |
| Saputo Inc. (SAP) | 22.50 | 2.70 |
All Canadian companies are owned in CAD. JNJ and KO are both held in CAD within my portfolio and so the dividends are received as such.
USD Dividends
| Company | USD Payments ($) | Div Increase (%) |
|---|---|---|
| Kenvue Inc. (KVUE) | 40.50 | 2.50 |
| Waste Management, Inc. (WM) | 127.52 | 7.14 |
| McDonald’s Corporation (MCD) | 121.03 | 5.99 |
| Yum! Brands, Inc. (YUM) | 88.88 | 10.74 |
| Yum China Holdings, Inc. (YUMC) | 21.24 | 23.08 |
| PepsiCo, Inc. (PEP) | 44.56 | 7.11 |
| Walmart Inc. (WMT) | 31.09 | 9.21 |
| Visa Inc. (V) | 27.42 | 13.46 |
| AbbVie Inc. (ABBV) | 279.00 | 4.73 |
| The Walt Disney Company (DIS) | 6.38 | |
| Microsoft Corporation (MSFT) | 34.05 | 10.67 |
| Mastercard Incorporated (MA) | 15.72 | 15.79 |
| Apple Inc. (AAPL) | 14.85 | 4.17 |
| Abbott Laboratories (ABT) | 22.00 | 7.84 |
| Meta Platforms Inc (META) | 6.80 | |
| Alphabet (GOOGL) | 10.20 |
Passive Income Totals
I earned C$7,004.26 and U$891.24, coming together for a currency-neutral $7,895.50. This represents an 11.9% increase over my 2023 annual dividend total. I’ve managed to grow my dividend income at a double-digit rate for two consecutive years, and hope to continue this trend in 2025.
Bringing in +$650 per month passively feels surreal. I love knowing that whether I add more money to my investment account or not this year, I’ll still have enough coming in to make a new purchase every month or so.
Market Activity
I made stock purchases nine times throughout the year.
I made a currency-neutral cash outlay of $10,858.47:
| Company | Total Cost | Tranches |
|---|---|---|
| TELUS Corporation (T) | C$1,082.95 | 1 |
| Canadian National Railway Company (CNR) | C$1,457.55 | 1 |
| Brookfield Renewable Partners L.P. (BEP.UN) | C$3,745.50 | 3 |
| Brookfield Infrastructure Partners L.P. (BIP.UN) | C$1,065.45 | 1 |
| A&W Revenue Royalties Income Fund (AW.UN) | C$1,507.45 | 1 |
| Kenvue Inc. (KVUE) | U$983.45 | 1 |
| Oracle Corporation (ORCL) | $1,016.12 | 1 |
I suspect most future years will also see $10,000 or more invested, as my passive dividend income itself will cover most of that amount. The income well continues to fill up faster and faster on its own, and it’s my job to redeploy the cash flow effectively. Selective dividend reinvestment is where it’s at.
I will note that I did sell off my BEPC shares and swapped over to BEP.UN, and did the same thing with my BIPC stock, cashing it in and buying BIP.UN. I don’t include those totals here, because they are effectively like-for-like trades. I did this because the “.UN” varieties pay a higher yield for the same enterprise. This should juice up my cash flow for more of an administrative change in holdings.
O Captain! My Captain!
The most consequential event this year was the loss of my father. He was a great man, and indelibly shaped my understanding of the importance of family.
He is a man who always knew what to do in every situation. He was decisive in his thought and action. He was cunning and, undoubtedly, the smartest man I’ve ever known.
He taught me what matters and what doesn’t in life. He showed me how money matters, and how it doesn’t; it never got in the way of him having time for his family.
He is missed, and loved, and remembered.
Conclusion
2024 is in the books. It was a solid investing year and I have every reason to believe 2025 will see my income grow. I actually believe it may be possible to cross the $9,000 threshold by the end of December 2025. It’s a stretch goal, which will require things to go mostly right, but something to shoot for.
I hope everyone has had a great year and feels the same optimism I do for the path forward. Small steps taken add up over the long run.
Stay invested.
Ryan
Full Disclosure: Long all investments listed in the article.
