May 2020 Passive Income Report – $1,139.85

May 2020 Passive Income Report – $1,139.85

June already? This is crazy, time is flying by.

Hey everyone. It’s time for our May 2020 passive income report. (Yeah I’m a little late this month)

The market continues to be on a tear and as I said before I don’t get it…. I tend to be following things a lot less than I used to. One thing I have learned for sure in the last couple months is that you can’t time the market. Who would of thought the market would rebound in the way that it did during this pandemic? I was seriously debating selling off after the 10% rebound, glad I didn’t though. Also to focus on solid dividend paying stocks. Quality over quantity.

Mike @ The dividend guy – said awhile back that covid could be a lot like the 1919 spanish flu. At the time it was horrible, but then we had the roaring 20’s. I’m leaning more and more towards that thought process. With the feds buying up stock left right and center and people dying to get back out and doing stuff, the coming years may be a huge boom and the market may set new highs. ( not to mention these low interest rates as well)

My wife got the go ahead to start working and started back on Monday after being off for over 2 months, close to 3. Things will be quite a bit different at the dental offices and they won’t be able to see as many patients. Meanwhile she will lose her covid payments and we will be paying childcare for 2 kids. I don’t know yet if we will actually be better off financially with her working in this environment. Mentally it will be good for her though.

Work for me continues to be insanely busy. I’m working 50 plus hours a week and the jobs just keep coming. Most people in the horticulture industry have never been busier. Soil suppliers have never sold so much and green houses are sold out. A lot of interlock stone is on back order. Lumber suppliers are really busy as well.

I got our gardens all setup this year. Veggies are planted and I even got a drip line going around all our flower gardens this year. The place should really blow up with so many flowers and hopefully the bushes fill out to give us a little more privacy.

Anyways, show me the money.

Raises or Cuts

One elimination & One Raise

• Disney eliminated their dividend (a good move) but lost us 76.15 in dividends. With everything closed this is to be expected. It will be back and disney still is a long term holding of ours. While the dividend is nice, disney is more of a growth stock.
• Algonquin power raised their dividend by 10% adding $13.53 to our forward income.

Total Added Income from Dividend Raises in 2020 – $112.12

Dividend Cuts Reduced Dividends in 2020 by $327.03

Dividend Income

10 Companies paid us this month.

Stocks	May 2019 Income	May 2020 Income
Proctor & Gamble	17.90	18.98
National Bank of Canada	23.40	25.56
Altagas	2.40	2.40
BMO	17.00	33.92
CVS Healthcare - USD	15.50	sold
Interpipeline	27.65 (One Drip)	8.32
Abbvie - USD	36.38	82.60
Emera	55.23 (One Drip)	sold
Dream Global Reit	20.53 (One Drip)	bought out
Riocan	28.80 (One Drip)	30.24 (One Drip)
Extendicare	17.40 (2 Drips)	18.36 (3 Drips)
Smart Centers	0	24.51 (One Drip)
General Mills - USD	64.68 (One Drip)	66.64 (One Drip)
Totals	326.87	311.53

6 stocks Dripped in May.

A negative growth rate? Yup, but it was to be expected. I sold our entire position in Emera when the market was crashing in March and me and the wife weren’t allowed to work. I locked in a decent profit and still have the proceeds. No regrets, in this environment we are both glad to have a stack of cash in our account if we need it.

This is the first quarter where you see the sale of cvs to pump up that abbvie position. Love their acquisition of allergan, so does the stock price. Missed out on that drip this quarter.

If your interested check out our Previous Dividend Income Reports.

Our Drips (Dividend Reinvestment Program) added $6.69 to our yearly forward dividend’s this month.

Trailing 12 Month Return

.12% not great but after March’s decline its nice to be back in the positive.

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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…….

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Solar Income

In April (We always get paid a month later) our solar panel system generated 1,140 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $328.32 into our chequing account this month.

Last April the system generated $231.84. 100 bucks more? fantastic stuff! The sun is cooking.

Total Income for 2020 – $674.78

System Installed January 2018

Total System Cost ——–$32,396.46

Total Income Received ——–$5,644.19

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Amount to Break even —- $-26,752.27

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Total May 2020 Passive Income – $‭ 1,139.85

May 2019 Passive Income – $1070.28

Total Passive Income Increase over last year. – $69.57

69! nudge nudge…… Pretty good considering the selloff of emera and the amazon payment last year. Go Solar Go!

Totals For 2020

Dividends Year To Date Total – $1880.91
Other Passive Income Year to date – $3,573.7
Total Passive Income for 2020 —– $5,454.61
Year End Goal – $17,200 ——– %31.71

Over 5k already? Sweet! A little behind the ball but with summer approaching this is solar’s time to shine.

 

May 2020 Purchases

We made 2 purchases last month but didn’t even write a post about them. My bad for sure. They weren’t steals by any means but 2 of my favourite company’s at decent prices.

• We bought 10 more shares of JNJ before their ex dividend date for $145.77 per share. This added $40.40 usd to our forward income.
• We also added 15 more CNR at $117.56. That added $34.50 to those annual div’s.

Small yields but quality dividend growth companies!

 

Goals Update

Read 3 Books I normally Wouldn’t Consider

• I didn’t do much of any reading this month. work, kids, house projects, netflix and fires with friends. I hate excuses, that’s the reality. I failed on this goal.

Go 3 Times and Pick Up Garbage

• Life’s been busy and beaches are still closed. The odd piece got picked up but didn’t make a event of it.

Charities

• We continue to make our monthly donation of 75 bucks to The Nature Conservancy of Canada

Increase Dividends by $1,713.42 this year. (bringing our forward income from dividends to $7,500 a year)

• With New Purchases, Drips and Dividend Raises this month we added $95.12 to our dividend Portfolio. Total increased so far in 2020 is $671.67. 39.20% of our goal.

Etf Monthly Purchase of $250

• We added 9 more shares of xaw etf this month for roughly 250 bucks in our questrade account. 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.

180 Pounds

• Bought a sweet bike this month from kijii. The guy sold it because it had a broken pedal…. (30 bucks for 2) Easy fix and probably a 300 dollar bike for 50 bucks. Deals are out there if your patient. Lost a little weight but could lose more if I switched to michelob ultra or something… Haha! Its beer drinking season right?

Diet

• I think we have been doing pretty good here. I eat more salads for lunch at work and we try to eat more veggies at dinner time. When I go to burger king I get heavy all on those burg’s too. Double the tomato’s, pickles, lettuce and sauces. =) (btw that’s a real life hack, your welcome)

Conclusion

Well that concludes our May 2020 passive income report. Any month over 1 thousand is a great month and I’m grateful. If you are below that don’t beat yourself up, I was too. We all start at zero and with consistency, the snowball grows.

I apologize for my lack of posts. I joined a great zoom chat full of Canadian Finance Bloggers the other day and that kicked me back in gear a bit. Thanks to all the people who were there, it was great to chat with you and learn from some of the best!

Like always, focus on paying yourself first. Enjoy life and stick to the plan. With all the negativity in the world at the moment we really need to remember to see the good in things. The media loves to show negative stuff, but if you look closer there is a lot of great things happening too. Go out and enjoy the world, time really does fly!

“My friends, love is better than anger. Hope is better than fear. Optimism is better than despair. So let us be loving, hopeful and optimistic. And we will change the world” – Jack Layton

How has life been for you? Life getting back to normal?

Cheers!