December 2023 Passive Income – Almost 25k in 2023!
December 2023 Passive Income Update
- 3 sources of passive Income
- $1,259.83 from dividends
- 18 stock/units dripped in December
- Trailing 12 Month Portfolio Return 5.51%
S&P 500 12 Month Total Return +23.53% for December 2023
S&P/TSX Composite Index 12 Month +11.34% January 2 2024
Who would of thought 2023 would be bringing those kind of returns.. Absolutely crazy.. Some of my accounts out performed but when you include Algonquin it brings it way down. Lets see what 2024 brings, will the magnificent 7 continue to carry the market? Time will tell
Life
December was a good month but in a way kinda depressing. We really didn’t get any snow until New years. Its been warm and definitely not to Christmasy.. Haha I guess I’m old school but I love me a white Christmas.
As I previously mentioned in my past post at the start of the month we went to Florida – Universal, Disney and a Cruise. The rest of the month I didn’t do too much, but did start the process of taking over of our landscape company. It’s exciting but with it most likely comes a lot more work and hopefully more income.
I will be switching the company from a sole proprietorship to a incorporated company. Should be some great tax advantages and even more dividends! I’ll keep you posted as this progresses.
Christmas was good, and we are blessed to be around so much family for the holidays. The kids got lots of Barbies and some switch games. I got socks, boxers, chocolate oranges and of course reese’s. Que – One Republic’s Good Life
New Year’s we went over to a buddies, the kids played, the girls chatted, we ate some great food, cracked some beers and celebrated yet another year on this place we call earth.
Alright, Let’s Get To Our December 2023 Passive Income
Raises/ Cuts
I don’t think we got any raises this month but other than Aecon, I’m pretty sure every company in our portfolio raised their dividend this year.
Total Added Income from Dividend Raises in 2023 – $194.96
A lower raise overall for the year. Bryan Adam’s may say it best that Algonquin dividend “cuts like a knife”. Without it we would of been near $500 and with 10k in forward income at the end of the year we would be close to a 5% dividend growth rate. Although we started 2023 with a $8,350.93 forward income so I guess it would be higher. Don’t know how you would calculate that. Average the start and finish numbers?
December 2023 Dividend Income
12 Companies paid us this month.
| Stocks | December 2022 Income | December 2023 Income |
|---|---|---|
| Stanley Black & Decker | 21.60 | sold |
| Franco Nevada | 5.22 | sold |
| JNJ | 75.71 | 79.73 |
| Home Depot | 19.00 | 60.61 |
| Lockheed Martin | 66.00 usd | 78.75 |
| Microsoft | 28.56 | 30.75 |
| Couche Tard | 23.80 | 36.93 |
| Canadian National Railway | 79.84 | 93.22 |
| Brookfield Asset Mngt | 0 | 24.40 |
| Allied property | 0 | 42.00 (2 Drips) |
| Brookfield Renewable | 118.44 (3 Drips) | 155.85 (4 Drips) |
| Suncor Energy | 213.72 (5 Drips) | 234.35 (5 Drips) |
| Fortis | 128.82 (2 Drips) | 139.24 (2 Drips) |
| Enbridge | 259.72 (3 Drips) | 284 (5 Drips) |
| Totals | 1,040.43 | 1,259.83 |
18 stocks/units Dripped in December.
To say that I was impressed tabulating this month’s income would probably be an understatement. This was a solid increase compared to the $1,150.03 in September. I really like how the portfolio has morphed over the years to better quality companies.
This month was our first payment by Allied Property. While I wouldn’t put it under the wide moat quality companies it has already done very well for us in like the month in a half we have had it. Will it continue like this? Who knows, but that special dividend is coming our way in January. Plus that costco special dividend! Sweet =)
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added $44.84 bucks to our forward income…. =)
Other Income
Private Investment Payment – $1000.00
1k a month, very nice!
Solar Panel Income
In November (We always get paid a month later) our solar panel system generated 248 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $66.69 into our chequing account this month.
Last November the system generated $61.96, so we came out slightly ahead. It will be interesting to see what Decembers solar will look like in this climate.
Total Income for 2023 – $2,106.67
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$14,278.96
_____________________________________________
Amount to Break even —- $ —18,117.5
Last year’s solar income was 2,287.07 so we are seeing a pretty decent decline in earnings. I know my tree is getting bigger but is this the factor? I dunno. Maybe I gotta go up there and squegee those panels clean again.
Total December 2023 Passive Income – $2,326.52
December 2022 Passive Income – $2,102.39
$224.13 increase year over year or a 10.66% growth rate. Hey that ain’t bad at all. We are back to some growth after selling over 100k of stock last october.
While it was a good move to deleverage some of those sales are up and some down. One thing that stands out is my rant about the world. Here we are a year later and things don’t seem that bad about the things I was going on about.. Maybe the mass immigration, upcoming us election and the current wars may be different this time. It does point out how there is always horrible news and politics…
Totals For 2023
Dividends Year To Date Total – $9,424.32
Other Passive Income Year to date – $14,870.51
Total Passive Income for 2023 —– $24,294.83
Year End Goal – $26,000 (93.44%)
Below the goal but that’s alright. Last year we brought in $24,184.07. So really not a massive jump, if you just look at the numbers. But the thing is we collected all those dividends from the 100k we sold last year. The sales lost us about 4k in dividend income and here we are.
8 Years of investing from 0 to almost 25k per year. We see the growth and spikes in the chart above and with the power of 3, that will only grow faster. Drips, Dividend Raises and New Capital.
December Stock Purchases
CoucheTard – ATD
A great company that has treated us very well. The stock price is up nicely and the 20% plus yearly dividend raises aren’t bad either. =) We added another 17 shares at a cost basis of $76.46 per share.
This adds $11.90 to our forward dividends.
Nutrien – Ntr
Our basic materials sector is one of our lowest sectors and this position is a small one of ours as well. While its technically not a wide moat company, it pretty much is. Unfortunately the business is highly cyclical and here we are, close to 52 week lows. The good thing is I know the world will always need food, and we need fertilizer to maximize those crops. That’s Nutrien’s bread and butter. Another good thing, Nutrien likes to buy back stock and I’m pretty sure they will be taking advantage of these current prices in that regard.
- December 31, 2018 shares outstanding – 608.54 million
- October 21 2023 shares outstanding – 494.55 million
Rbc says Nutrien is undervalued and currently gives them a fair value of 99.75 per share. If we were to pop up to that price that’s a 25.16% return not including that dividend.
We added 13 more shares at 76.19 per share. This adds $27.56 to our forward dividends.
Overall we added 39.46 in forward income this month.
Total added forward dividend income from purchases in 2023 – $1,608.14
Bitcoin
To say bitcoin has had a good year would probably be an understatement. Wow! 167.17%
We decided to go with shakepay because it is regulated in Canada and you shake the phone daily to get some free sats (bitcoin). They recently changed the way shaking sats is done. You get a certain amount per day now
A 100 dollar deposit gets you 10 bucks and 10 for the referrer. Feel free to use my affiliate here if your interested in trying out the crypto space. Or if your a fan of the site and wanna toss me some btc my Shaketag is @hutz8 – worth a shot =)
I appreciate the support.
Financial Goals Update
Charities
- We continue our monthly donation to The Nature Conservancy of Canada of $85.
Etf Monthly Minimum Purchase of $250
- This month we added 0 more units of xaw etf.
- Questrade* is great because it offers free etf trades and cheaper stock trading options than most Canadian brokers. $250.00 a month would kill us if we needed to pay high trading fees.
- * Note the questrade link is a affiliate link and at no additional cost to you, I would get a little payment if you were to sign up. You could get $50 in free trades by using my affiliate link though.
We didn’t buy and xaw this month.
December 2023 Passive Income Conclusion
Im happy with the progress we have made in 2023. Let’s hope the market retracts a bit as we are still in accumulation phase and some of these pe’s are just crazy. haha Wish you all nothing but the best in 2024! How did you do this year? any goals for 2024?
cheers
The view is better outside of your comfort zone. This new year, its time to check it out – unknown
Hey I’m Rob, creator of Passive Canadian Income.
In 2011 me and my wife had almost $60,000 in debt and a negative $7,000 Net Worth. Through hard work and financial education we paid all that off. Now we are focusing on increasing our Passive Income Streams to make the money work for us. Feel Free to Follow along the Journey by clicking the Social Media links below or subscribing to get notified of new posts on the sidebar.
Congrats on taking over ownership of the landscaping business Rob! Registering a corporation might end up being the best financial move you ever make. Once you truly discover all the benefits of doing so you’ll be amazed.
Some advice, take it or leave it from an internet stranger, but there seems to be a really big online information gap (or misinformation) in properly managing smaller companies from a cash flow, taxes, investment, use of corporate accounts, etc… perspective. Personally I have only ever found one truly useful site, and the rest I wouldn’t even consider reading/listening to (especially once you get deep into investing via a corporation). Source… I’ve got several corporations and invest heavily in them. This is also why TFSAs don’t matter much to me 🙂
I’ve been liking NTR recently as well, but for a different reason. Had previously owned it before they became Nutrien and sold my shares during the 2021 surge for profits. But in June 2023 I started trading options against it because all the numbers aligned, and for right now it’s still in my top five stocks to trade options against!
haha so your shorting ntr?
well so far you must be doing alright. Personally I wouldnt mind lower prices as I grow the position. Thanks, Im excited for the move. While I will be out of my comfort zone, I think it will be a great move all around and one I need to take. Whats the website your talking about? I wanna get schooled in everything corp.
your killing it man, and its so great to see
keep it up Norm
No doubt 2023 was a great year for the market in general. I remember a lot of end of 2022 “experts” calling for a recession, end of world blow up financially kind of thing. Election year in U.S., money printer going into overdrive, interest rates coming down = higher equity prices in general. Keep up the good work. Let’s see how bitcoin halving impacts price by end of ’24!
doesnt it seem, like the same every yr these days? Lots of weird shit happening though, no question man
Should be a interesting yr for bitcoin but i think the etf news is the biggest thing right now. Time will tell.
cheers Hut!
Always nice to see!
Curious to see what Solar does in 2024, for sure!
Im sure there will be sun.
cheers guys
Rob, you detail how much you received from Hydro One for your input into the grid, but what did you save in bill payments? Perhaps it’s in there and I missed it. For me, this number is as important as the cash received.
hey Bob Ill start putting it in for you. overall we make more than we pay all year but the winter months wouldn’t cover our hydro bill.
cheers
Excellent! Thanks.