June 2022 Passive Income – Breaking $2,500!
June 2022 Passive Income – Breaking $2,500!
- 1 Dividend Raise
- 3 sources of passive Income
- $1,195.60 from dividends
- 22 stocks/units dripped in June
Hey, Everyone
As we enter the month of July, I think its safe to say you can’t time the market once again. Morgan Wallen says it best – we going up down, up down, up dowwn! While headlines make things sound so terrible all over the world, the market pops a couple hundred points one day and then drops the next. Who knows. This is why I love the dividend growth investing approach, sit back and collect those dividends. Enjoy the raises and hey even kinda enjoy lower prices as they may produce more drips!
hey maybe I’m too positive but I really think we need to look at the glass half full vs half empty.
Life
- Its probably been one of the driest months that I can ever remember, the grass doesn’t need to be cut and the weeds are barely popping through the gardens. More time to try to relax on the hammock reading a good book. (I just finished interviews with millionaires, it was ok but am 1/3rd through the 80/20 principle now)
- We hit up ribfest and also the sound of music festival.
- Started the summer of adventures off last weekend camping with friends at mcgregor provincial park. Its a fantastic park but the group site is amazing. No one comes into there, its quiet and the kids have the entire area to play together. Beach is a beauty as well, our dog loves it there as well
- With the end of June here, I’m finally back to working 5 days a week again instead of 6. Its safe to say my body is happy about that, both physically and mentally.
- We officially maxed out one of our tfsa’s!! That is a great feeling, onto the next one.
Lets get to the passive income though right?
Alright, Let’s Get To Our June 2022 Passive Income
Raises
Got 1 raise that I wasn’t expecting. woot woot!
- General Mills raised their dividend 5.9% this added $17.40 to our dividends.
Total Added Income from Dividend Raises in 2022 – $320.11
General Mills isn’t a consistent dividend grower but their dividend is safe and continues to grow for us. Love the brands and even their dog food. The kids have been eating those fruitsations gummies. They are soo good and I was surprised to recently find out they are general mills as well. Gotta love it!
June 2022 Dividend Income
13 Companies paid us this month.
| Stocks | June 2021 Income | June 2022 Income |
|---|---|---|
| IBM | 45.92 usd | sold |
| 3M | 32.56 usd | sold |
| Canadian Utility's | 93.24 (2 Drips) | sold |
| Inter Pipeline | 8.32 | sold |
| Microsoft | 10.64 usd | 18.60 usd |
| Home Depot | 19.00 usd | |
| Smart Centers | 32.38 (1 Drip) | 34.23 (1 Drip) |
| Lockheed Martin | 36.40 usd | 61.60 usd |
| Rit Etf | 64.94 (3 Drips) | 67.37 (4 Drips) |
| Canadian National Railway | 59.04 | 70.32 |
| JNJ | 45.58 usd | 75.71 usd |
| XAW ETF | 38.19 (1 Drip) | 75.62 (2 Drips) |
| Fortis | 0 | 94.70 (1 drip) |
| Brookfield Renewable | 82.23 (1 Drip) | 109.28 (2 drips) |
| Manulife Financial | 136.95 (6 Drips) | |
| Suncor | 177.66 (3 Drips) | |
| Enbridge | 235.48 (5 Drips) | 254.56 (3 drips) |
| Totals | 784.92 | 1195.60 |
22 stocks Dripped in June, beautiful!
$410.68 more than last year, or a 52.32% increase. Just amazing. Our first time these months clear 1k in dividends. Its a fantastic feeling. The proof is in the pudding, Stick to the plan and watch it grow.
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added $35.18 to our yearly forward dividend’s this month. Sweet!
Other Income
Private Investment Payment – $1000.00
1k a month, Straight to the heloc.
Solar Panel Income
In May (We always get paid a month later) our solar panel system generated 1,191 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $337.87 into our chequing account this month.
Last May the system generated $330.91 so we are slightly higher this year again, great to see.
Total Income for 2022 – $930.61
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$10,815.83
_____________________________________________
Amount to Break even —- $ 21,580.63
Total June 2022 Passive Income – $2,533.47
June 2021 Passive Income – $1,615.83
Did we just break $2,500? Bam! That’s one of those things you gotta pat yourself on the back for. Good job guys. haha Seriously though wow that feels good. 6 years ago we started this journey, we brought in 62 bucks in June 2016. If we can do it, you can as well. Maybe not this high, maybe way higher. But you need to focus on growth. Any growth is good and puts you ahead of where you were when you started, the compounding effect will only propel things faster.
I really believe financial habits are more important than income. Get in the habit of paying yourself first, it really is that simple. Of course if you have a larger income that helps as well though. =)
Totals For 2022
Dividends Year To Date Total – $5,250.16
Other Passive Income Year to date – $6,134.77
Total Passive Income for 2022 —– $11,384.93
Year End Goal – $25,000
June Stock Purchases
We continue to dollar cost average into positions. We maxed out one tfsa this month and will continue to work on the remaining one. 18k left to max that one.
Telus
We added 2 separate tranches this month. I have always wanted to grow our position but was waiting for a pullback. Unfortunately the pullback happened after we made our 2 purchases. haha Long term hold though, I’m pretty sure we will be ok in 10 years
- 65 Telus at 31.62 per share
- 64 Telus at 31.24 per share
These purchases add $174.81 in forward income.
Texas Instruments
I’ll gladly keep growing our position in txn. Its currently cheaper and offers over a 3% starting yield. Great dividend growth history and some monster raises. While short term the industry may get hurt, long term we need more and more semiconductors. Everything is getting smarter and needs more chips.
- 10 more shares at $158.36 per share
This added 46 bucks in forward income.
Proctor & Gamble
The stock I have always wanted to add to, but couldn’t get myself to pay over 150 a share. They dropped to 130 for a short period and we jumped on the opportunity. Gotta love adding to the kings!
- 10 shares of pg at $130.79 per share
- Added income – $36.53
National Bank
We have grew this position quite a bit this year. One of the best performing banks with some of the highest dividend growth rates. These bank stocks have pulled back quite a bit and I’ll gladly continue growing our bank holdings. BNS currently yields over 5.5%!
- Bought 46 additional shares at $85.95 per share
- This added $169.28 in forward income.
Overall we added $426.62 to our forward dividend income last month. A mix of growth, yield and defence this month. 3 of these stocks are currently cheaper than when we purchased them. Ill continue to drip and dollar cost average into them
Financial Goals Update
Charities
- We continue our monthly donation to The Nature Conservancy of Canada of $85.
Increase Dividends by $4285.81 this year. (bringing our forward income from dividends to $13,000 a year)
The goal for 2022 is to have a forward passive income of $27,500 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 passive 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 $2,965.89
Etf Monthly Minimum Purchase of $250
- This month we added 11 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 $50 in free trades by using my affiliate link though.
June 2022 Passive Income Conclusion
A great month overall. Love that we finally maxed one tfsa and we surpassed the 2,500$ mark. Life has been good to us. July looks to be a busy month full of some more outdoor adventures with friends and family. whats not to like?
I hope you all are doing your best to go out there and live your best life. What have you been up to? buying anything lately? or stacking cash?
Cheers!
Just Do It – Art Williams
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.
Awesome! Congrats on a record month of passive income. Oh man, $62 all the way to over $2.5K. That is nice! Keep up the great work! 😀
Its nice to see thats for sure.
cheers Dynasty!
Glad to read solar is working out, what is the annual yield on that investment? Looks like 7 to 9% for any given year, not too shabby.
hey sd
yeah in the 7-9% range. Not bad we were told about a 10-12% return but we have a big maple blocking 20 panels part of the day so that’s probably it. Its a decent income stream
Awesome! I see that you own some US stocks. I keep a few Canadian stocks in my IRA. How about some US preferred stocks? I am happy with my CIM-PC (7.75% Series C Fixed/Float Cumul Redeem Preferred Stock) ~ Yield 9.58%. Redeemable at the issuer’s option on or after 9/30/2025 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. That’s just one example.
hey Alex
I honestly dont look into preffered too much, cim looks interesting but its a small company with only 38 employees. Nice deal if you get 25$ bucks though. I looked into brookfield renewables preffered once it was a higher yield than bep.
Too be honest I don’t know why I haven’t gotten more preferred’s maybe I need to just do more research. Do they drip like normal shares or do u you need to take the cash?
cheers Alex
Great looking dog you guys have! Huskies are terrific.
$2,500/month in passive income is sweet man. Your leveraged moves are starting to pay ‘dividends’….. 😀 Think you will keep the leverage up? I was going to de-leverage last month with the rising rates but then said screw it, it’s not quite time yet and there is still far more upside potential than downside to holding the assets I do.
How big is your solar array? I’m just in the process of installing a completely off grid one and it’s been an enjoyable process. Totally looking forward to decades of reliable power generation with little maintenance.
Like the Telus buy, I just picked up some more shares of them earlier in the day. And related to Alex’s comment with the rising rates there could soon be some great buying opportunities on preferred shares. At least that’s my hope.
hey Norm
Thanks alot! shes a great dog but at 15 plus she is getting old and those hips dont lie..
Our solar panel is a 10kw system. Love that your setting one to go off the grid. No questions these days we need to starting getting more and more self reliant.
The leverage has been good but I have been questioning it a bit lately. I hate these interest payments, but we are bringing in way more than the payments. I think at this point im going to go a 50/50 route. Pay off debt/ invest. If the market pulls back even more Ill continue to put that money to work. I really could see us going into a recession and then lowering interest rates within the next 3 years.
I do keep questioning the great reset though – you will own nothing and will be happier by 2030. If we are really going that route, who knows what will happen. Keep raising rates until everyone is screwed. Blame it on inflation, Russia and these greedy corporations…… Heck throw in another bout of covid / monkeypox too. Doesn’t seem too far fetched these days. Time will tell.
Telus and bce should see a nice boom after that rogers incident for sure. Lets just hope that doesn’t open everything up for canadian telcos.
I need to do more research into preferreds to be honest.
cheers Norm