January 2022 Passive Income – Setting New Records!
January 2022 Passive Income
- 2 Dividend Raises
- 5 sources of passive Income
- $1,024.93 from dividends
- 19 stocks/units dripped in December
Hey
What a start of the year eh?
Markets going up down, up down, up down! There is some stocks out there at better prices than at the start of the month for sure. Is it worth dipping into tech at the moment or will it fall more? Microsoft and texas instruments posted some great results.
All we can do is stick to the plan and continue building our dividend income portfolio monthly. The proof is in the pudding, this report set 2 new records. Let’s Go!
Life
This has been one of the quietest months we have had in awhile.
- Ontario announced another lock down at the start of month for half the month and then extended it longer once again… Anyone sick of these lock downs yet? Their killing me.
- Once we heard of the lock downs we got day passes to one of the big indoor water parks with the kids, that was fun.
- Our Daughter turned 4 this month, we had a couple kids over
- Our household got covid. My 4 yr was barely phased by it, then I got it and was absolutely rocked for 24 hours and then was fine. (the muscle aches were the worst) Right when things were about to go to normal the wife tested positive. She only got a headache and dry coughs. Our 8 yr old son didn’t get it. (Him and my daughter are unvaxxed, me and the wife are 2 shots in.)
- Between covid and lock downs my son hasn’t went to school since mid December, I can’t wait for him to get back on Monday.
- The ice rink in the yard is all good, its been freezing cold here. We have been using it pretty consistently and our son has improved his skating and shooting by leaps and bounds already.
- Ottawa is currently having one of the largest Canadian protests in history. People want their lives back. 2-3 years of this now. 1 jab,2 jab,3 jab, 4 and yet highest case counts we have ever had. Massive mental health issues, businesses shutting down, kids not in school, can’t see family and friends, governments with record deficits and a country divided more than I have ever seen in my life. It’s safe to say the governments failed the people.. I support the truckers and all the people who came out to support along the bridges as they drove across Canada to meet in Ottawa. (I don’t support defacing statues, or racist flags/hateful flags)
People showing their support in Vaughn for truckers on route to Ottawa
Alright, Let’s Get To Our January 2022 Passive Income
Raises or Cuts
- Canadian Utility’s came through with a tiny 1% raise. This now brings them to king status. Canada’s first king. This raise adds $3.83 to our forward income.
- CNR shocked us with a monster 19.1% raise. This was way more than I was expecting, so definitely made our day. This raise adds $45.12 to their forward dividend income.
Total Added Income from Dividend Raises in 2022 – $48.95
After getting that tiny raise from Canadian Utility’s once again. I decided to sell off our position. The plan is to move it into Fortis and I was planning on doing it last wk once the bank of Canada raised their interest rates. They didn’t…… Ill be buying fortis before their ex dividend date with some more new capital as well.
CNR proved why they are my favourite dividend growth stock. Low starting yield but huge dividend growth and a wide moat stock that wont be going anywhere..
January 2022 Dividend Income
12 Companies paid us this month.
| Stocks | January 2021 Income | January 2022 Income |
|---|---|---|
| Inter Pipeline | 8.32 | sold |
| TRANSCONTINENTAL | 27.00 (1 Drip) | sold |
| Riocan | 31.80 (1 Drip) | sold |
| Extendicare | 19.28 (3 Drips) | sold |
| Nutrien | 27.50 | 27.99 |
| Cisco | 49.32 (1 Drip) | 51.06 |
| Restaurant Brands | 74.10 | 75.07 |
| Bank of Nova Scotia | 90.90 (1 Drip) | 105.00 (1 Drip) |
| Telus | 79.04 (3 Drips) | 87.09 (2 Drips) |
| Bell Canada | 74.93 (1 Drip) | 140.88 (2 Drips) |
| TD Bank | 101.12 (1 Drip) | 117.48 (1 Drip) |
| TC Energy | 57.51 (1 Drip) | 117.45 (1 Drip) |
| Xaw ETF | 32.03 (1 Drip) | 90.09 (2 Drips) |
| Rit ETF | 31.66 (1 Drip) | 66.35 (3 Drips) |
| Smart Centres | 25.75 (1 Drip) | 33.45 (1 Drip) |
| Algonquin Power | 66.12 (3 Drips) | 113.02 (6 Drips) |
| Totals | 796.38 | 1,024.93 |
19 stocks Dripped in January
A 28.69% growth rate year over year. Love seeing 5 different positions now paying us over $100 in these quarters. Massive jump from Xaw etf. That’s a fund I put roughly 250 bucks in a month, slowly but surely. This was our first month ever surpassing the $1,000 mark. Boy oh boy does it ever feel great!
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added $31.73 to our yearly forward dividend’s this month
Other Income
Private Investment Payment – $500.00
Nothing new here, just our regular monthly payment. (I don’t even have to edit this part every month) Steady Eddy…….
Solar Panel Income
In December (We always get paid a month later) our solar panel system generated 144 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $36.33 into our chequing account this month.
Last December the system generated $37.44 so we are a little under, but the year before we got 36 bucks. Seems to be super consistent for these months.
Total Income for 2022 – $36.33
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$9,913.57
_____________________________________________
Amount to Break even —- $-22,482.89
Cashback Credit Card
Every year in January we get money from using our cashback Credit card the previous year. We always pay our balances off, so this is bonus money. In January we received $576.37. Sweet!
Google Adsense
Google tossed us a couple bucks for the ads on the site. I have reduced them significantly and may eventually remove them all together. Time will tell.
We received $119.81
Total January 2022 Passive Income – $2,257.44
January 2021 Passive Income – $1,749.28
A $508.16 difference compared to 2021. We didn’t get ad-sense last January so that’s a nice difference but clearly there has been some nice growth in these months year over year.
This was the first month we surpassed 2k in passive income. 6 years ago we started this Journey making a couple bucks a month. My goal in 2016 was to bring in $20,000 a year passive income by 2025. Clearly we will fly by that. Keep your eye on the prize and make saving a priority, compounding really does speed things up!
Totals For 2022
Dividends Year To Date Total – $1,024.93
Other Passive Income Year to date – $1,232.51
Total Passive Income for 2021 —– $2,257.44
Year End Goal – $25,000
The goal for 2022 is to bring in $25,000 in passive income and have a forward passive income of $30,000 by the end of 2022. Let’s Go!
January 2022 Purchases
We continued to grow our Suncor position. I think the oil and gas space will continue to have another great year. Gas prices here today are 1.51 per litre.. Arg!
We bought an additional 140 shares of suncor. This puts our suncor position to 5% of our portfolio, so its a full position at the moment.
This purchase added $235.20 to our forward income.
We sold our position in Canadian Utilitys after their tiny raise once again. I will be replacing that position with fortis which has a similar dividend growth streak but generally raises their dividend 6% a year.
Financial Goals Update
Charities
- We continue our monthly donation to The Nature Conservancy of Canada of $85.
Increase Dividends by $6,990.09 this year. (bringing our forward income from dividends to $14,936.65 a year)
The goal for 2022 is to have a forward passive income of 30 thousand by the end of the year. I plan on doing this by refinancing our house and taking advantage of these low interest rates. I want to max out some accounts and let compounding do their magic. Its a big goal and will almost double our current dividend income.
- With New Purchases, Drips, and Dividend Raises we continued to grow the size of our dividend Portfolio. Total increased so far in 2022 is $315.88
Our house just got appraised so now we wait for the paperwork to get compiled and hopefully sign a dotted line by the end of the week.
Etf Monthly Minimum Purchase of $250
- This month we added 8 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 link though.
January 2022 Passive Income Conclusion
While life has got me down a bit currently with all these covid rules/regulations, I know the tide is changing. 3 of Canada’s provinces top doctors are now saying we need to learn to live with covid. That’s Huge!
On the financial front this is the first month ever of bringing in over $1,000 a month in dividends and $2,000 a month in passive income. Great stuff! It took 6 years of consistent investing and now grows faster than it ever has. Don’t get discouraged if your just starting out, focus on your growth. Slowly but surely it looks a heck of a lot better than day 1. Make a plan and stick with it. Let’s go out there and shatter more personal records in 2022!
How was your January? What is your goals for 2022?
cheers
The Purpose of our lives is to be happy – Dalai Lama
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.
I’m not sure what’s going on with CU. Heh. I used to invest in that years ago. I’m with Fortis and Algonquin now though along with three banks (NA, TD, and RY) and ATD. I’m not too sure at the moment where else to put money. That’s only on my TFSA though.
All good companies that you hold.
Yeah its hard to decide where to deploy some money, I was hoping the market would keep dipping. =)
ATD is having a good day. I definitely want to grow that position in 2022. Oil and Gas have had a great run, Suncors earnings are going to be huge. That may be a good space with oil prices where they are =)
cheers David!
Good stuff Rob. My dividends this month were also solidly over $1k; up 54% YoY thanks to some raises from the big banks and investments over the past 12 months in T, BCE, BNS, TD & TRP. Now if only I could get the dividends for month two of each quarter at this level!
Happy investing!
John
woot woot nice John!
The 2nd months of the quarters are always brutal. I plan on improving them with more national bank and apd.
As long as quarterly totals keep going up its all good!
cheers John
Congrats breaking $1K and $2K! Got to love new milestones. Keep it up! 🙂
thx dynasty, onto the next ones!
Hey Rob,
You hit some huge milestones this month. +$1k in dividends and +2k in passive income… that’s awesome. Reinvest, rinse, and repeat.
Glad to hear your family pulled through well enough with the COVID situation. I’m likewise really hoping we move into a phase here where we can simply manage life with COVID.
Take care,
Ryan
Thanks Ryan.
I’m hopeful the end is near. It’s not fair for all these businesses and employees to open close all the time and my kids really need to do more activitys!
Having it now I can attest it’s not a fun sickness and everyone gets hit differently. But it’s no reason to shut the whole country down for 2-3 years.
cheers man
Nicely done Rob, a very solid month for sure, congrats. Interesting that you’re going heavy on oil and sold CU. Might close out CU ourselves too, the dividend growth has been very poor.
Thanks Bob
This market is hard to find companies to buy at decent prices, with everything that is going on at the moment. Oil still seems like a decent value considering how much cash they will be printing. =)
cu is a hard one to sell, I bought it for its dgi history but every year we get these tiny raises.
$1024.93 in dividends. Think of all the future life expenses that pays for, soon enough you guys will be set for life! That combined with a 7-1 Leafs win… I sense your giant smile!
I still appreciate that you’re setting those lofty goals and transforming that portfolio. For some reason I’ve never had a single thought to buy CU, ever. Looking at 2, 5, and 10+ year charts there really hasn’t been a good entry point (easy to say now, somewhat easy to say back then 😀 ). FTS on the other hand, just wow when compared 1-to-1 with CU. That said I picked up more FTS and BNS in January.
Still debating getting back into Suncor but it may be too late, but glad you’ve done well with it the past 8 months.
Enjoyed your commentary on the ads. I find so many blogs unreadable now because of all the ads, especially on mobile. Just like a portfolio, blogs on the list had to be updated once in a while to deal with those sites 😉
Hit a major milestone over here this month, my January AQN dividend payment was $1053 and less than 20% of the Jan total. Hopefully your lockdowns end soon, cheers!
“That combined with a 7-1 Leafs win… I sense your giant smile!”
You know me well. Huge win last night, only down side was I picked nylander to score on the tims app and he didn’t get one. haha!
CU is one of my original holdings, I probably looked at them and fortis said wow both great growth streaks. Hmmmm cu has a higher starting dividend, Ill buy that one. =)
Glad I made the cut with your blog update. I may eventually cut all ads and just bombard you with affliates. haha
That is a monster dividend payment from algonquin. Always love seeing people getting those huge payments, it just encourages me to beef up certain positions. Sounds like you are killing it! who’s your top 3 largest positions? Congrats Norm, keep it up
we kinda opened up yesterday. (half capacity) Issue now is they become so constant, you almost expect another one in a couple weeks…… arg!
cheers
Hey Rob, congrats on earning more than $1,000 in dividends! That’s awesome man. I am always interested in your solar income as well. Impressive YoY growth as well.
hey Graham
Thanks man, solar is mostly covered in snow again….. haha
Time to check out your update
cheers
WoW ! I’m impress Rob, $119.81 in Google Adsense! That’s very good! Awesome job of course for your dividend of $1,024.93, first time hitting the 4 numbers! Keep the good job my fellow investor friend! 😃👍
Thx FNB
It feels good hitting 4 digits, that’s for sure. February will humble me once again though, these months dont get much love.
keep it up as well, you had a great month
cheers
My top 5 holdings in order: ZDY, DGRO, ZRE, BNS, BMO. Listed five because those ETFs are very important to me and they DRIP well. There is very little written or said about those ETFs but they’ve performed very well for me over the years
Top 5 dividend income producing in order: ENB, BNS, ZRE, AQN, ZDY
O’Toole canned, Trudeau gone missing, Singh going on parental leave, who the hell is in charge here? The above is not investment advice 😉
nice list Norm
Its a crazy time thats for sure.. Wonder what Ottawa will look like this wkend.
cheers
Congrats on hitting new milestones for dividend income and total passive income! Way to start a fresh year! Let’s keep going!!
thanks German
Thank you for sharing rob. Your updates are very motivating! I cannot wait to have invested enough to start dripping !
hey Florian
Thanks alot, comments like your keep me motivated to keep posting. It works both ways!
All the best you will get there before you know it
cheers