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December 2022 Portfolio Update – Year-End Slowdown

panorama view of Lake Geneva in Switzerland

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.

Dividend Summary

I again brought in cash flow in Canadian dollars from seventeen businesses, with six more paying me in USD.

CAD Dividends

CompanyCAD 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

CompanyUSD Payments ($)Dividend Change (%)
Waste Management, Inc. (WM)27.63
McDonald’s Corporation (MCD)27.1410.14
Yum! Brands, Inc. (YUM)18.90
Yum China Holdings, Inc. (YUMC)3.98
Visa Inc. (V)5.7420.00
Microsoft Corporation (MSFT)7.529.68

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:

December 2022 dividend growth graph

My full-year dividend totals have reached $6,395.98:

MonthDividends ($)
January645.55
February101.85
March750.44
April720.76
May103.31
June765.11
July721.84
August103.31
September782.04
October727.35
November109.01
December865.41
Total6,395.98

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

2 thoughts on “December 2022 Portfolio Update – Year-End Slowdown

  1. 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!My Profile

    1. 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

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