ENB - September 2023 Passive Income Update

2023-10-11 02:22:00 ET

Summary

• Fortis decided to get king status and boost their dividend by 4.4%. This raise adds $23.60 to our forward income.
• 11 companies paid us in September.
• We added 42 TELUS shares at a cost basis of $23.96.

• 3 sources of passive income
• $1,150.03 from dividends
• 15 stocks/units dripped in September
• Trailing 12-Month Portfolio Return +3.83%

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

S&P/TSX Composite Index 12-Month +1.55% October 4th 2023

Beating the TSX but getting smoked by the S&P 500. Considering our portfolio is about 50/50, I’m behind the index.

The market had some nice red days but then quickly went sideways once again. As always, it's hard to see red in the portfolio, but in the accumulation phase, lower prices are good. CNR ([[CNI]], [[CNR:CA]]) at 145 is great, but it would be a lot cooler at 130.

Raises/Cuts

3 raises this month!

• Fortis ([[FTS]], [[FTS:CA]]) decided to get king status and boost their dividend by 4.4%. This raise adds $23.60 to our forward income.
• Texas Instruments ( TXN ) came through with a 4.8% increase. Some people point to their lower dividend growth rate recently. It's worth noting that those lower hikes came since announcing their construction plans on their 30 billion fab factory in Texas . 2025 should bring double-digit increases again in my opinion. This increase adds $8.64 to our forward income.
• Microsoft ( MSFT ) came through once again with a 10% raise. Gotta love it! $11.48 in added income.

This month, these 3 raises added a total of $43.72 to our forward income without adding a penny to the account.

Total Added Income from Dividend Raises in 2023 - Negative $-4.52

Still negative from that Algonquin Power ([[AQN]], [[AQN:CA]]) cut. arg! The stock just keeps beating us down...

September 2023 Dividend Income

11 companies paid us this month.

15 stocks/units Dripped in September.

Great to see things growing yr-over-yr after all those sales. I love seeing more USD-paying companies and the general increase each position has gotten.

Our Drips ( Dividend Reinvestment Program ) added $38.07 bucks to our forward income…. sweet!

Other Income

Private Investment Payment - $1000.00

1k a month, very nice!

Solar Panel Income

In August (we always get paid a month later), our solar panel system generated 873 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One ([[HRNNF]], [[H:CA]]) deposited $251.47 into our chequing account this month.

Last August, the system generated $271.05, so once again, we came in lower. arg!

Total Income for 2023 - $1,725.65

System Installed January 2018

Total System Cost - $32,396.46

Total Income Received - $13,897.94

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Amount to break even - $-18,498.52

Beginning of October and the sun is shining! Here’s hoping this month brings a higher income than last year.

Total September 2023 Passive Income - $2,401.50

September 2022 Passive Income - $2,414.81

Ahhh, so close to seeing year-over-year growth again. Soon enough!

Totals For 2023

Dividends Year To Date Total - $6,881.8

Other Passive Income Year to date - $11,489.49

Total Passive Income for 2023 - $18,371.29

Year-End Goal - $26,000 (70.65%)

A nice jump in progress, gotta love these months! Let’s go.

September Stock Purchases/Sales

Since this month was a 5-week pay period, we ended up making 3 different purchases. Two to existing positions and we started a new one as well.

Purchases

TELUS ([[TU]], [[T:CA]]) - We sold this position in the fall of last yr due to rising interest rates and planned to rebuild this position when it was cheaper. Well, it definitely is now. We added 42 shares at a cost basis of $23.96. (even cheaper now). This buy adds $61.08 in forward income.

National Bank ([[NTIOF]], [[NA:CA]]) - We started rebuilding this position as well this month. 12 shares at $94.54 per share. This adds $48.96 to our forward dividends.

Lockheed Martin ( LMT ) - With a war still going on and a massive backlog of orders, I thought this was a good one to grow our position in. It has done very well for us since we started our original position. We added 3 shares at a cost basis of $413 per share. This adds $36 in forward dividends.

All in all, we added $146.04 in future yearly dividend income with these purchases. Yield and decent dividend growth.

Total added forward dividend income from purchases in 2023 - $994.17

Bitcoin

Bitcoin ( BTC-USD ) kinda went sideways in August, but we continue to add 20 bucks a week to our position.

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 ([[XAW:CA]], XAW.U: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 I felt like our purchases offered a better opportunity at the moment.

September 2023 Passive Income Conclusion

For some reason, my body is dying to wake up early these days. Maybe I’m fired up to write some posts. It's been huge for productivity; I highly recommend it. Overall, the month was very good on the financial front. I’m happy to see it all on paper and see things grow. I hope you all had a great month as well!

It is your limiting belief that has you where you are right now – Eric Thomas

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