BCEXF - February 2023 Passive Income - Good Times

2023-03-17 02:28:00 ET

Summary

• This month was a fantastic month for dividend raises, adding a solid $101.39 to our forward income.
• While our dividend income is down, the overall passive income continues to increase.
• We made 1 purchase this month after their raise announcement.

• 3 sources of passive Income
• $321.22 from dividends
• 1 stock/unit dripped in February
• Trailing 12-Month Portfolio Return 1.03%

  S&P 500 12 Month Total Return -7.69% for February 2023

  S&P/TSX Composite Index 12 Month -5.57 % March 15 2023

Raises/ Cuts

6 raises this month, gotta love it!

Bell Canada ( BCE ) – They raised their dividend by 5.2% which added 32.11 to our forward dividend income.

Nutrien ( NTR ) – Nutrien threw down the biggest raise we have gotten so far. They boosted their dividend by an impressive 10.4%. Unfortunately, this a small position, so only added $15.36. I’ll be adding to this position soon enough after this raise.

TC Energy ( TRP ) – They raised their dividend by 3.3%, adding 21.24 to their future dividend payments.

Brookfield Renewable ( BEP ) – who down with BEP? Yeah, you know me! 5.5% raise adds $19.39 – Spoiler alert – Added to this position in Feb.

Cisco ( CSCO ) – The weakest raise of 2023 goes to cisco. Woot, woot!… 2.63% adds 5.68. The turnaround is looking good though.

Home Depot ( HD ) – The stock I want to add too but haven’t. A 10% raise means I have to. It’s one of my new rules. This added 7.61 in forward dividends.

Total Added Income from Dividend Raises in 2023 – Negative $97.46

This month was a fantastic month for dividend raises, adding a solid $101.39 to our forward income. Sadly, that Algonquin ( AQN ) cut in January still keeps us in negative territory. It is what it is; at least AQN has shot up from its lows before the cut (why didn’t I back up the truck? I was thinking about it at $8.50).

February 2023 Dividend Income

6 companies paid us this month.

1 stock/unit Dripped in February.

As always, these months are our lowest income months, but I gotta say I love all those American dividend payers. Especially when our Canadian dollar is oh so bad! Only 97 cents of that income was Canadian, so that’s basically like 1000 bucks once converted. (It’s not actually.)

Our DRIPs (Dividend Reinvestment Program) added a monster $2.16 in future dividends. (Probably our lowest month ever but that USD will probably be put to work soon enough in HD or TXN.)

Other Income

Private Investment Payment – $1000.00

1K a month, very nice!

Solar Panel Income

In January, (we always get paid a month later) our solar panel system generated 39 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $11.28 into our chequing account this month.

Last December, the system generated $ 39.61, so we are way lower. Pretty safe to say the panels had more snow on them this year than last year. Winter months for solar definitely don’t do much.

Total Income for 2023 – $39.26

System Installed January 2018

Total System Cost ——– $32,396.46

Total Income Received ——– $12,211.55

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Amount to Break Even —- $ –20,184.91

It’s going to be nice once we get $184.92 and that drops under 20K. Not much more to say. Solar panels in Ontario during the winter are not good.

Total February 2023 Passive Income – $1,332.5

February 2022 Passive Income – $882.75

While our dividend income is down, the overall passive income continues to increase. Overall, our passive income grew by 50.94% year over year. Let’s go!

Totals For 2023

Dividends Year To Date Total – $1,169.74Other Passive Income Year to date – $2803.10Total Passive Income for 2023 —– $3,972.84 Year End Goal – $26,000 (15.28%)

Almost 2K a month average, a little behind the goal but there’s still plenty of time.

February Stock Purchases

We made 1 purchase this month after their raise announcement.

Brookfield Renewable – This stock has treated us very well over the years, with both capital appreciation and dividend raises. I think governments and the general green movement will continue to be a boost for Brookfield Renewable. The price has come down quite a bit and I decided the time was right to increase our position. We bought 53 more shares at 36.95 per share. This adds $71.55 USD in forward income and most likely will allow us to drip another share per quarter. Love that!

Bitcoin

Bitcoin ( BTC-USD ) has continued to do very well for us since we started buying in the fall. Just remember all these scandals and stuff is always these crap coins… Personally I’m only sticking with Bitcoin. I put 20 bucks a week into this investment, money we can afford to lose.

Total invested – $390

I decided to go with Shakepay because it is regulated in Canada and you shake the phone daily to get some free sats (Bitcoin). I shake every day and with over a 10-day streak, I’m now getting about 15 cents a day in free Bitcoin.

Financial Goals Update

Charities

• 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:CA 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.

We didn’t add this month as money went to pay off the trip to Mexico. All good, next time.

February 2023 Passive Income Conclusion

A month full of dividend raises, sun and, if you live here in Ontario, a tonne of snow. It was a great month overall. Just remember, governments are printing money like crazy; you can’t print time. Go out there and make the most of it… while being fiscally responsible.

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