February 2023 Passive Income – Good Times
February 2023 Passive Income – Good Times
- 3 sources of passive Income
- $321.22 from dividends
- 1 stock/unit dripped in February
- Trailing 12 Month Portfolio Return 1.03%
S&P 500 12 Month Total Return -7.69% for February 2023
S&P/TSX Composite Index 12 Month -5.57% March 15 2023
Sorry for the delay in our monthly reports.
Life has been really busy and the wife and I went away to Mexico once again to soak up the rays, shoot some tequila and enjoy kid free time together.
The market changed quickly eh? Is this just the start or did the fed backstop it enough to cool things off? I dunno but it is something I thought was going to happen as I said in the fall when I sold all our financial stocks. You can read that post here with no edits.
“The more I thought about things the more I see a coming financial crisis. Finland is warning of an “energy-industry Lehman Brothers” crisis coming. I think there will be a ripple effect coming. Check out Deutsche Bank and Credit Suisse stock prices to see whats happening there. Credit suisse has said the worst is yet to come…”
and here we are, the news keeps talking about credit suisse. While some of the stocks we sold are down in price, surprisingly to me some are still up. I don’t think the worst is over yet but I continue to dollar cost average money into the market.
Something to consider is back in 08/09 banks started cracking 4-5 months before things really went to sh#t.
We live in a printing press world and as much as I hate it, its a reality. Biden and Trudeau are spitting money out left right and centre. Short term that could be good for the market, but long term oh boy…. But some of you know my thoughts on that – Tinfoil hats right? 2030 you will own nothing and be happy.
My son turned 10 in February, we had a nice party at lazer tag. It was great. I came third the first round but failed miserably the 2nd as I took my daughter and her friend out for their first time. (my daughter even beat me, although it was free for all so she was probably shooting me right?)
That saying – Enjoy em they grow fast – Is so true, there’s moment’s that drive you crazy but man does time ever fly.
Speaking of which I turned 40. We booked a last minute trip back to Mexico to celebrate. So what do 40 year olds do? Well we wear pink flamingo shirts and linen pants now. =) Read books on the beach, (finished the psychology of money, great book) but still smash tequila shots and lots of mohitos. Every year hangovers get worse, but those are great reading days right?
We took the fairy over and explored isla majeres – The island of women. A beautiful place, saw a little remains of a mayan building, did some shopping and checked out the amazing beach there. Unfortunately the only topless women were those statues… I’ll take it though! haha =)
We ended up taking a dream liner plane back to Toronto. Wow those are nice planes, 3 rows of seats not as cramped as regular planes. Dimmable windows and tv screens. (I haven’t had tv screens since flying to the canary islands a couple years ago) Having this big of plane I thought would just show how bad pearson airport would be with lineups etc, but surprisingly there was absolutely no lineups to get through everything. Nice work Pearson Airport.
Alright, Let’s Get To Our February 2023 Passive Income
6 Raises this month, gotta love it!
Bell Canada – They raised their dividend by 5.2% which added 32.11 to our forward dividend income.
Nutrien – Nutrien threw down the biggest raise we have gotten so far. They boosted their div by an impressive 10.4% unfortunately this a small position so only added $15.36. I’ll be adding to this position soon enough after this raise.
Tc Energy – They raised their dividend by 3.3% adding 21.24 to their future dividend payments.
Brookfield Renewable – who down with bep? Yeah you know me! 5.5% raise adds $19.39 – Spoiler alert – Added to this position in Feb
Cisco – The weakest raise of 2023 go’s to cisco. woot woot!…… 2.63% adds 5.68. The turnaround is looking good though
Home Depot – The stock I want to add to but haven’t. A 10% raise means I have too. It’s one of my new rules. This added 7.61 in forward divs.
Total Added Income from Dividend Raises in 2023 – Negative $97.46
This month was a fantastic month for dividend raises adding a solid $101.39 to our forward income. Sadly that Algonquin cut in January still keeps us in negative territory.. It is what it is, atleast aqn has shot up from their lows before the cut (why didn’t I back up the truck, I was thinking about it at $8.50)
February 2023 Dividend Income
6 Companies paid us this month.
|Stocks||Feb 2022 Income||Feb 2023 Income|
|Smart Centres||33.61 (1 Drip)||sold|
|Rit ETF||66.56 (3 Drips)||sold|
|Texas Instruments||0||32.24 usd|
|Air Products||0||74.52 usd|
|Proctor and Gamble - USD||20.88||31.05 usd|
|National Bank of Canada||50.46||.97|
|Abbvie - USD||98.70||103.60 usd|
|General Mills - USD||72.93 (1 Drip)||78.84 (1 Drip)|
1 stocks/units Dripped in February.
As always these months are our lowest income months, but I gotta say I love all those American dividend payers. Especially when our Canadian dollar is oh so bad! Only 97 cents of that income was Canadian, so that’s basically like 1000 bucks once converted. (It’s not actually)
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added a monster $2.16 in future dividends. (probably our lowest month ever but that usd will probably be put to work soon enough in hd or txn)
Private Investment Payment – $1000.00
1k a month, very nice!
Solar Panel Income
In January (We always get paid a month later) our solar panel system generated 39 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $11.28 into our chequing account this month.
Last December the system generated $39.61 so we are way lower. Pretty safe to say the panels had more snow on them this year than last year. Winter months for solar definitely don’t do much.
Total Income for 2023 – $39.26
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$12,211.55
Amount to Break even —- $ –20,184.91
It’s gonna be nice once we get $184.92 and that drops under 20k. Not much more to say. Solar panels in Ontario during the winter are not good.
Total February 2023 Passive Income – $1,332.5
February 2022 Passive Income – $882.75
While our dividend income is down, the overall passive income continues to increase. Overall our passive income grew by 50.94% year over year, Let’s go!
Totals For 2023
Dividends Year To Date Total – $1,169.74
Other Passive Income Year to date – $2803.10
Total Passive Income for 2023 —– $3,972.84
Year End Goal – $26,000 (15.28%)
Almost 2k a month average, a little behind the goal but there’s still plenty of time.
February Stock Purchases
We made 1 purchase this month after their raise announcement.
Brookfield Renewable – This stock has treated us very well over the years, with both capital appreciation and dividend raises. I think governments and the general green movement will continue to be a boost for brookfield renewable. The price has came down quite a bit and I decided the time was right to increase our position. We bought 53 more shares at 36.95 per share. This adds $71.55 usd in forward income and most likely will allow us to drip another share per quarter. Love that!
Bitcoin has continued to do very well for us since we started buying in the fall. Just remember all these scandals and stuff is always these crap coins… Personally I’m only sticking with Bitcoin. I put 20 bucks a week into this investment, money we can afford to lose.
Total invested – $390
I decided to go with shakepay because it is regulated in Canada and you shake the phone daily to get some free sats (bitcoin). I shake everyday and with over a 100 day streak, I’m now getting about 15 cents a day in free bitcoin.
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
I appreciate the support.
Financial Goals Update
- 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 add this month as money went to pay off the trip to mexico. All good next time
February 2023 Passive Income Conclusion
A month full of dividend raises, sun and if you live here in Ontario a tonne of snow. It was a great month overall. Just remember governments are printing money like crazy, you can’t print time.. Go out there and make the most of it!…… while being fiscally responsible =) haha!
Every morning you have 2 choices: continue to sleep with your dreams, or wake up and chase them – Carmelo Anthony
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.
Hey Rob, I’m down with the BEP! Picked some more of those shares in February as well, in USD of course, since they pay their dividends out in USD. The only other notable purchase made last month for me was BCE, because after that raise you mentioned I wanted to top up the annual income received from BCE to $5K.
Congrats on making it to 40 man! Crushing mojitos, reading on the beach, chilling with the wife, and enjoying the odd siesta sounds like an ideal time! We haven’t done a kid free trip since they came online, but hopefully that happens in the next 2-3 years.
I’ve said this several times before but really enjoying the significant USD you’re receiving. Feels like too many of our dividend colleagues ignore the powerhouse US companies. In the long run that extra diversification away from a Canada-only approach will benefit you guys. Aiming for a 70/30 CDN/USD dividend split myself because we enjoy international travel. During times like these when the Canadian dollar is a hot mess, those USDs will be huge for all future travel.
Slow and steady with that solar income… amazing that even with those inflated Ontario rates you’re being paid the amount received was just over $11! Out west we’ve had an unusual and very cloudy winter since December. Oh well, crossing that $20K mark will be cause for a celly!
haha great minds think alike.
We actually bought more bce at the beginning of March for the kids resp. Also added some more td on friday. Got another price alert for 75 so we will see if that hits.
Gotta have some kid free time, but we are blessed with family who will and able to watch our kids when we are gone. I know alot of people who dont have that luxury.
Definately like getting the usd but these days I may work on canadian stocks as our dollar is just horrible. (unless some stocks are screaming at me)
cheers Norm, all the best!
Amazing trip and income. Feb seems to be the lowest in dividends for everyone!
Not a highlight month for Canadian dividend payments, that’s for sure.