This was the warmest February I can recall. We barely had any snow, and the temperatures were routinely hanging around the positive side.
While I enjoy the colder weather, I am now looking forward to more hospitable temperatures for the back deck at home.
Table of Contents
Dividend Summary
Income rolled in some eight companies, slightly favouring the US side.
CAD Dividends
| Company | CAD Payments ($) |
|---|---|
| RioCan Real Estate Investment Trust (REI.UN) | 23.49 |
| Chartwell Retirement Residence (CSH.UN) | 5.10 |
| A&W Revenue Royalties Income Fund (AW.UN) | 11.20 |
USD Dividends
| Company | USD Payments ($) | Dividend Change (%) |
|---|---|---|
| Kenvue Inc. (KVUE) | 10.00* | |
| AbbVie Inc. (ABBV) | 69.75 | 4.73 |
| Mastercard Incorporated (MA) | 3.93 | 15.79 |
| Apple Inc. (AAPL) | 3.60 | |
| Abbott Laboratories (ABT) | 5.50 | 7.84 |
I totaled C$39.79 and U$92.78, combining for a currency-neutral sum of $132.57. In relation to my February 2023 dividend figures, this represents a 23.74% raise. Even on low figures, the growth rate is what really counts.
Another nice bonus this month was my first dividend payment from Kenvue (KVUE). This company was spun out of Johnson & Johnson (JNJ) last year. It holds the consumer health products, with an incredible portfolio containing household names such as Tylenol, Nicorette, Lubriderm, Rogaine, and far more.
I was happy to initiate a position this month and get in on the February dividend, just on time.
The dividend growth chart keeps reaching higher:
Year To Date Progress
With two of my traditionally lower-paying months in the books, I’ve accumulated just under $900 in dividends:
| Month | Dividends ($) |
|---|---|
| January | 680.90 |
| February | 107.14 |
| March | 1,050.94 |
| April | 572.74 |
| May | 118.51 |
| June | 850.14 |
| July | 773.75 |
| August | 113.39 |
| September | 881.65 |
| October | 795.17 |
| November | 124.54 |
| December | 982.62 |
| Total | 7,051.49 |
This is a good start to the year and sets the stage for more rising dividends down the stretch.
Market Activity and Cash
As mentioned, I opened a position in KVUE. This was my single stock purchase for the month, as I’ve continued to accumulate cash.
I will say that the higher interest rates do make it a bit more attractive to hold cash, though this is somewhat illusory, as inflation continues to chip away at purchasing power. The best way to protect oneself is to own high quality assets that continue to raise their cash flows ahead of inflation.
Over the next period, my intent is to focus on my list of the 10 best Canadian stocks to hold forever. I love when a decision can be made once and pay off for years to come—even for a lifetime.
Conclusion
February was a quiet month on the investing front, but that’s how we like it. As long as the dividends keep rising and the portfolio remains strong, very little oversight is required. That works for me, as I have no desire to be checking stock prices on a daily basis.
Checking my portfolio a few times a month is enough, just to remain apprised as far as buying opportunities (i.e., when the market or individual equities dip in price).
Remember: Price is what you pay, value is what you get.
Thank you for reading.
Full Disclosure: Long REI-UN, CSH-UN, AW-UN, MRU, ABBV, MA, AAPL, ABT, KVUE, JNJ