June 2023 Passive Income – Canada eh?
June 2023 Passive Income Update
- 3 sources of passive Income
- $1,172.37 from dividends
- 17 stocks/units dripped in June
- Trailing 12 Month Portfolio Return +5.84%
I was happy to see such a jump in the trailing 12 month return until I compared everything. Wow this month we are trailing by a fair margin. Maybe its a reminder to get more growthy dividend growth stocks in the portfolio, or just beef up existing ones..
The market seems to just be ignoring these interest rate hikes. Meanwhile here in Ontario, I’ve read articles that cottage prices are dropping like crazy year over year.. Who knows what will happen but this is something we have recently been looking into a little more. Buying a cottage. I don’t know exactly how much we would use one but we may split one with her sister who is a air bnb wizard. Time will tell, we are in no rush just browsing at the moment.
Happy Canada Day! Always nice to celebrate this beautiful country we call home. Unfortunately Canada day also came with another new carbon tax. Carbon tax #2…. Even though we are one of the worlds smallest polluters we now have 2 carbon taxes… Why would our govt really wanna fight inflation and lower our cost of living?……….. But don’t worry this govt will be sending out bribes, opps sorry grocery inflation relief cheques this month. Free money for everyone! Lets see how that fights inflation.
We did our first camping trip of the year this past weekend (Canada day) to another new park – this time Point farms provincial park. It was a nice park with a wide open group site, which was actually kinda nice. We were a little worried about our dog as shes super anxious and hyper. She normally throws up on 15min car rides but with some gravol she made it both times for about 2 hrs. At the dog beach she lived it up leash free (no one around) and dove right into the water to play fetch. This is something our previous husky would never do. Very nice to see.
The weather has been pretty nice on the weekends so we were able to hit up the beach and also went to The sound of music festival. We got to eat some great food truck food and watched I mother Earth and crash test dummies. Just Awesome.
I booked 2 tickets to see machine gun kelly in the fall and we also booked our flight to Florida this winter. We will be going on a cruise, disney 1 day and universal studios 1 day. Should be a great time, I cant wait to get back on a cruise ship.
Alright, Let’s Get To Our June 2023 Passive Income
This month we had 1 raise announcement.
General Mills came through with a solid 9.3% dividend raise. Of course we were very happy to hear about this one. General Mills is one of our largest holdings so this raise adds $29.41 to our forward dividends. (This stock has done very well for us considering our cost basis is just over 55 a share as well)
Total Added Income from Dividend Raises in 2023 – Negative $-48.24
Still underwater from that 1 dividend cut this year… Soon enough we will be positive though.
June 2023 Dividend Income
11 Companies paid us this month.
|Stocks||June 2022 Income||June 2023 Income|
|Manulife Financial||136.95 (6 Drips)||sold|
|Smart Centers||34.23 (1 Drip)||sold|
|Rit Etf||67.37 (4 Drips)||sold|
|Microsoft||18.60 usd||33.32 usd|
|Home Depot||19.00 usd||20.90 usd|
|Stanley Black & Decker||21.60 usd|
|Lockheed Martin||61.60 usd||66.00 usd|
|Canadian National Railway||70.32||86.11|
|JNJ||75.71 usd||79.73 usd|
|XAW ETF||75.62 (2 Drips)||86.71 (2 Drips)|
|Fortis||94.70 (1 drip)||131.08 (2 Drips)|
|Brookfield Renewable||109.28 (2 drips)||152.88 (3 Drips)|
|Suncor||177.66 (3 Drips)||218.92 (5 Drips)|
|Enbridge||254.56 (3 drips)||275.12 (5 Drips)|
17 stocks/units Dripped in June.
Slightly under last years total, but considering we sold 3 holdings bringing in over 240, I’ll take it as win. Pretty good growth all things considered..
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added $37.52 bucks to our forward income. Nice!
Private Investment Payment – $1000.00
1k a month, very nice!
Solar Panel Income
In May (We always get paid a month later) our solar panel system generated 1,250 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $360.33 into our chequing account this month.
Last May the system generated $337.87, so this month has brought a little more sun.
Total Income for 2023 – $864.22
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$13,036.51
Amount to Break even —- $ —19,359.95
Bring on the sun!
Total June 2023 Passive Income – $2,532.7
June 2022 Passive Income – $2,533.47
Haha! A couple cents less than last year. Crazy how similar that is actually. Breaking 2500 once again definitely puts a smile on my face though. =)
Totals For 2023
Dividends Year To Date Total – $4,549.15
Other Passive Income Year to date – $7,628.06
Total Passive Income for 2023 —– $12,177.21
Year End Goal – $26,000 (46.83%)
6 months in and we are slightly behind the goal, time to get to work.. Or more sun would be nice.
June Stock Purchases
This month we made 2 purchases.
Telus – I thought it was a great time to add to our measly 3 shares. (we got for selling after ex dividend date) Under 26 bucks telus seems like a great deal and offers a pretty huge yield with solid dividend growth. We bought enough shares this month to get 1 drip each quarter. I plan to continue building this position up at these prices.
We bought 79 shares at $25.89 per share. This adds $114.89 in forward dividends
TD Bank – We continue to like this bank and these prices. The couple months we have been buying and now td is at 3.6% of our portfolio. I may just focus here until we get to approx 5% of our portfolio but I don’t see any rush buying the banks as they will have some headwinds to deal with the next couple years. The financial sector is our 2nd lowest sector at the moment so I always like beefing those low sectors up.
I bought 25 additional shares at $78.13 per share. These 25 shares add $96 in forward income.
All in all we added $210.89 in future yearly dividend income with these purchases. Clearly collecting some yield this month…..
Total added forward dividend income from purchases in 2023 – $621.12
Bitcoin had a great month and remains on a tear this year, we continue to put 20 bucks a week into it.
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
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 I felt like our purchases offered a better opportunity at the moment.
June 2023 Passive Income Conclusion
Back in the 2500 a month club, it feels good. Our income continues to be down slightly year over year but if we factor in the interest we used to pay to service that line of credit we are now ahead. Lets go! Hope you all are having a great summer. Do you have any plans for it so far?
Everyone of us will die. But so few of us will really live – Mel Gibson – Braveheart
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.