HRNNF - October 2023 Passive Income Update

2023-11-08 02:46:00 ET

Summary

• AbbVie came through with a 4.7% raise. Pretty good considering they are still navigating the Humira issues.
• Canadian National Railway is one of my favorite companies we own and when it yields over 2%, it generally has been a good time to buy.
• I'm happy with how October went and that our portfolio is back to positive year-over-year growth.

• 3 sources of passive Income
• $917.34 from dividends
• 37 stocks/units dripped in October
• Trailing 12-Month Portfolio Return +1.96%

S&P 500 12-Month Total Return + 21.62% for September 2023

S&P/TSX Composite Index 12-Month +5.10% November 3 2023

Lower than the market year-to-date once again. Algonquin ( AQN )( AQN:CA ) and Aecon ( AEGXF ) specifically are just beating us down. Aecon should bounce back as business is good, they are just getting killed on projects quoted before all this inflation. Algonquin I don't know, I just hope they keep their water assets and turn things around.

Raises/ Cuts

Another raise this month

• AbbVie - AbbVie ( ABBV ) came through with a 4.7% raise. Pretty good considering they are still navigating the Humira issues. This raise adds $19.60 in forward dividends for us.

Total Added Income from Dividend Raises in 2023 – $15.08

We are finally in the positive territory after that Algonquin dividend cut earlier this year. Sweet…

October 2023 Dividend Income

8 Companies paid us this month.

37 stocks/units Dripped in October.

Great to see these months back with some year-over-year growth. The payments are getting chunkier too.

Our Drips ( Dividend Reinvestment Program ) added $49.36 bucks to our forward income… sweet!

Other Income

Private Investment Payment – $1000.00

1k a month, very nice!

Solar Panel Income

In September (We always get paid a month later) our solar panel system generated 733kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One ( HRNNF )( H:CA ) deposited $211.17 into our chequing account this month.

Last September, the system generated $204.81, so we came out slightly ahead this time

Total Income for 2023 – $1,936.82

System Installed January 2018

Total System Cost ——–$32,396.46

Total Income Received ——–$14,109.11

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Amount to Break even —- $ —18,287.35

The sun continues shining and the income keeps coming.

Total October 2023 Passive Income – $2,128.51

October 2022 Passive Income – $2,117.63

A couple bucks is a couple bucks right? Count it!

Totals For 2023

Dividends Year To Date Total – $7,799.14

Other Passive Income Year to date – $12,700.66

Total Passive Income for 2023 – $20,499.80

Year End Goal – $26,000 (78.84%)

Breaking 20k for 2023, very nice! It still amazes me getting this. Just a couple years ago we had no passive income. When I tell people about dividends, they are like oh 30-80 bucks? That ain’t gonna change my life. But it's those constant 30-80$ increases that will. Don’t focus on the short term, long term you will be laughing.

October Stock Purchases

Canadian National Railway ( CNI )( CNR:CA ) - We added more shares to our existing position. This is one of my favorite companies we own and when it yields over 2%, it generally has been a good time to buy. I added 9 more shares at a cost basis of $146.92 per share.

This purchase adds $28.44 in forward dividends.

Costco ( COST ) – We decided to add a grocer in our portfolio. While Costco is a lot more than that, food is its bread and butter. It’s not a cheap stock by any means, but the growth has been fantastic and I could see that continuing in the future. A simple raise on the membership fees will boost their income and that will probably happen soon enough. Personally, we don't have a Costco membership. Why? Because the place is just too busy. I hate their parking lot and shopping there. That says a lot. Lots of room for growth in my opinion and our portfolio could use more growth.

We went the CDR route on this one in our TFSA. I like that I’m not converting dollars and at 26 bucks per unit the kids can, and did add it to their portfolio as well. We bought 46 shares at 25.83 per unit. This adds a monster $8.79 in forward income.

Overall, we added $37.32 in future dividend income. Growth and high dividend growth this month.

Total added forward dividend income from purchases in 2023 – $1,031.40

Bitcoin

I have now been buying Bitcoin ( BTC-USD ) for a year as I started in November last year. To say it's been a great investment would be an understatement.

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 4 more units of XAW ( 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 added a couple bucks to get 4 shares of XAW ETF this month.

October 2023 Passive Income Conclusion

A great month overall. I'm happy with how the month went and that our portfolio is back to positive year-over-year growth. I hope you all had a great month as well.

Enjoy the little things in life, for one day you may look back and realize they were the big things – Robert Brault

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