May 2022 Passive Income – Growth All Over The Place – Sweet!
May 2022 Passive Income – Sunshine & Dancing
- 5 Dividend Raises
- 3 sources of passive Income
- $485.71 from dividends
- 6 stocks/units dripped in May
I feel like May was one of the fastest months ever. Here we are June already. Insane. Time is flying by but that just means its almost camping season. woot woot!
The market was full of volatility and I think its safe to say this year is going to be a bumpy ride. Like always though, long term picture this is a good thing.
- Work has been crazy busy still – 6 days a week and we continue to fall behind. Good problems though right? Can’t complain about being busy, but make sure you take time for yourself as well.
- We got the gardens all mulched up, veggies planted and drip lines setup. That’s always a good feeling to be done with that, now if only the grass would slow down just a bit =)
- Been swimming at neighbours and having fires/ drinks.
- Our daughter had her first dance recital. 8 months of dance class for 2 minutes of her on stage. It was fantastic, she did great and you could tell she loved it. (Dad did too!)
- Opened up the trailor and got sheets cleaned etc, ready for another season. Can’t wait, we have lots of trips planned once again.
Lets get to the passive income though right?
Alright, Let’s Get To Our May 2022 Passive Income
This month brought a solid amount of dividend raises to boost the portfolio. Gotta love it.
- Telus 3.4% div raise adds – $12.09
- Suncor 12% div raise adds – $75.09
- Algonquin Power 6% raise adds – $33.94
- Bank of Nova scotia 3% raise adds – $12.84
- National Bank 5.74% adds – $24.20
Total Added Income from Dividend Raises in 2022 – $302.71
Overall these raises added an additional $158.16 in forward income to the portfolio. Our portfolio yield on cost is 4.16%. So these raises in May are like deploying an additional $3,800 in new capital at our yield on cost. Very nice!
May 2022 Dividend Income
8 Companies paid us this month.
|Stocks||May 2021 Income||May 2022 Income|
|Proctor & Gamble - USD||20.88||21.92|
|Air Products & Chemicals - USD||74.52|
|Texas Instruments - USD||11.50|
|Abbvie - USD||91.00||98.70|
|Smart Centers||32.22 (One Drip)||34.07 (1 Drip)|
|Rit Etf||64.73 (3 Drips)||67.16 (3 Drips)|
|National Bank of Canada||25.56||104.40 (1 Drip)|
|General Mills - USD||71.40 (One Drip)||73.44 (One Drip)|
6 stocks Dripped in May
$171.60 more than last year, or a 54.63% increase. Solid! As always these are our lowest months but with the new additions its starting to beef up a bit! Love seeing that National bank drip and one holding breaking 100 bucks in this quarter.
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added exactly $10.00 to our yearly forward dividend’s this month. A nice little purple bill right?
Private Investment Payment – $1000.00
1k a month, Straight to the heloc.
Solar Panel Income
In April (We always get paid a month later) our solar panel system generated 937 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $264.72 into our chequing account this month.
Last April the system generated $256.03 so we are slightly higher this year, great to see.
Total Income for 2022 – $592.74
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$10,477.96
Amount to Break even —- $- 21,918.50
Total May 2022 Passive Income – $1,750.43
May 2021 Passive Income – $1,187.61
A great increase year over year especially since google tossed up a couple bucks last May. Love seeing the snowball grow.
Totals For 2022
Dividends Year To Date Total – $4,054.56
Other Passive Income Year to date – $4,796.9
Total Passive Income for 2022 —– $8,851.46
Year End Goal – $25,000
May Stock Purchases
We continue to dollar cost average into positions weekly and enjoyed the recent market drop.
We added 19 more shares of couchetard @ 56.98 per share to our kids resp, thanks to the government for their 20% match.
Added 8.36 to our forward income.
We added 10 more shares of Disney @ 108.20 per share.
0 Dividends still…..
Restaurant Brands International
I decided to increase our position in qsr. Love the brands although the stock price has been sitting sideways for a long time…. Gotta knock that debt down a bit though.
35 shares @ 65.97 per share.
This adds $75.60 to the forward income.
Insurance should benefit from rising interest rates and this stock got hammered on their last earnings.
44 shares at $22.36 per share
Adds $58.08 in income.
10 more shares in microsoft. Eventually Id love this position to be in our top 5 holdings, so I’m happy to see these lower prices.
6 shares @ 265.38 per share
Adds $14.88 to those dividends.
This company has treated us very well. Its has been our best performer up almost 200% on our original position. Thought it was time to grow its position as renewable’s will continue to boom in the future.
42 shares @ 46.51 per share.
This adds $53.76 in forward income.
Overall we added $210.68 to our forward dividend income last month. A mix of growth and yield this month. A great combo and one I should be focusing more on moving forward.
Financial Goals Update
- 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 $2,486.69
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.
May 2022 Passive Income Conclusion
Another great month all around, lots of growth in income and many purchases continue to increase things year over year. Compounding in action. Since we are still in accumulation mode here’s hoping the market go’s red once again. We are now close to maxing out one tfsa account. It will actually be a weird feeling not being able to add new funds to that account until next year. Guess its a good problem to have though.
I hope you all had a wonderful month as well. How did you make out? Is the volatility getting to you? Love the comments, they keep me motivated to keep posting new content.
C.A.N.I – Continuous and nonstop improvements. – Tony Robbins
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.
Oh man, that is one solid month! Congrats! That is a cute picture too! 🙂 Glad to hear life is going well. Keep up the great work!
you as well!
Hey Rob, your continued expansion into US stocks is really becoming noticeable and impressive on the dividend front. And then you followed that up with additional USD purchases this month, well done sir! Are you holding all those US stocks in your RRSP accounts? I’d personally love to hold more US stocks directly but unfortunately my RRSP account is super limited — and the taxes aren’t nearly as favourable elsewhere — so I’ve primarily stuck with US ETFs.
Lots of good raises for you this month as well, didn’t realize AQN went up by 6% again!
Hope you enjoy camping man, we’ve already been out a few times and it’s fantastic after a cold spring. I’ve noticed campgrounds haven’t been as full so far this season, but with the price of gas I’m not surprised and suspect that will continue throughout the summer.
Thanks, definately nice getting more usd payers into the account as I dont need to currency convert as much to buy usd stocks. Yes they are all held in our rrsps.
Always nice getting that algonquin raise, I dont mind the lower pay raises if they put that extra capital to debt/buybacks to be honest. They have constantly diluted their shares, time to buy em back at these prices imo.
I actually love that comment about camping, we havent been out yet but would love to see them a lil quieter, last yr was sold lout almost everytime we went. The cost of gas/food/ houses is going to be killer for a lot of people for sure, hopefully that tames down inflation atleast.
Time will tell, cheers Norm all the best!
Hey Rob. First and foremost… Happy Father’s Day!
Lots of great stuff in your Portfolio this month. I loved all the dividend raises… the boost from Suncor was especially nice for your forward dividend income.
Almost 55% YoY growth in the dividend income is outstanding. You’ve really established a nice position in APD… it went from $0 to nearly $75 in no time. Looks like ABBV will provide another triple-digit dividend payer for your portfolio real soon, too.
When did the private investment payment become $1K… wasn’t it $500 for the longest time?… I’ve got to pay more attention!
Keep up the terrific progress… it looks like you will soon have more $1K dividend months to celebrate besides the last month of each quarter.
Thanks man. Definately grew that apd position quickly. Its one I have always wanted in the portfolio and I think its at a reasonable price atm. Heres hoping abbv tops 100 after their next raise, this company has been fantastic. Why didnt I buy more at 70 bucks? =)
We doubled our investment amount into the private investment, thats why its 1k a month now.
All the best Paul, thanks for the words of encouragement
Don’t remind me of how fast time flies by. I see it with my own child. Congrats on your passive income. Always happy to see we share a few names paying us both and nice to see your passive income diversified away from just stocks. Keep up the good work.