- 3 sources of passive income
- $879.81 from dividends
- They dripped 30 shares/units in June
- 12 month portfolio return after +3.20%
S&P 500 Total Return 12 months +13.02% for July 2023
S&P/TSX Composite Index 12 Months +1.86% August 22, 2023
Our portfolio underperformed the market once again this month year over year but outperformed the tsx.. These interest rate sensitive stocks have taken a beating recently. It’s tempting to add more to them right now. =)
Unfortunately the world is full of negative things right now. It’s really quite crazy to see… The Covids are coming back and governments are starting to push for more regulations. It should be another fun winter. There seem to be more geopolitical tensions than ever before right now. Crime seems to be literally rampant and yet the laws don’t seem to care. People posting on social media to meet up and rob a mall and yet there are no cops?
I don’t know, but we’re starting to see it in retail… They’re literally saying that so much in profit is being stolen. You wonder why governments basically ignore it. But hey, I can go on and on about this.. Worlds are changing, maybe everything will eventually be online retail or ID to get into stores… I was reading an article about a store that asked you to get their app and scan the barcode before the doors even open…
central bank digital IDs and digital currencies?
In Canada we are starting to see inflation numbers pick up once again. It is somewhat expected when they introduced yet another carbon tax. Pierre Polivierre says we pay 61 cents a liter in carbon tax alone. This is crazy…
Business for us continues to be very busy, but it has changed. We’re not really doing much work for average people this year. All big jobs for pretty rich people. As you all probably know and see, the middle class and the poor are the ones really feeling the pinch…
ZOE
Life has been good, but it seems almost too busy. We did loads of camping, beach days and wonderland.
My friends also turned 40 this year so there tends to be a few drinks and good times. The boys are finishing up their football reps for the season and tryouts have started for the fall. My daughter has passed her swimming lessons and will soon be moving on to the next level.
Okay, let’s get to our July 2023 passive income
Raises/Cuts
Last month was once again a quiet month for dividend announcements.
Total incremental income from dividend increases in 2023 – Negative -$48.24
Still underwater from that 1 dividend cut this year… But we’ll be positive soon.
Dividend income July 2023
9 companies paid us this month.
| inventories | Income July 2022 | Income July 2023 |
|---|---|---|
| Restaurant brands | 100.87 (1 drop) | sold |
| Rit Etf | 67.56 (3 drops) | sold |
| Bank of Nova Scotia | 110.21 (1 drop) | sold |
| Smart Centers | 35.61 (1 drop) | sold |
| Couche-Tard | 16.50 | 26.74 |
| Nutrien | 29.69 | 42.10 |
| Aecon | 113.04 (8 drops) | 120.25 (9 drops) |
| Cisco | 52.82 (1 drop) | 55.77 (1 drop) |
| Telus | 135.10 (4 drops) | 30.18 (1 drop) |
| Algonquin Power | 196.23 (11 drops) | 125.88 (12 drops) |
| TD Bank | 170.88 (2 drops) | 120 (1 drop) |
| Tc Energy | 155.70 (2 drops) | 169.26 (3 drops) |
| Bell Canada | 151.80 (2 drops) | 189.63 (3 drops) |
| Totals | 1336.01 | 879.81 |
30 shares/units Drip in July.
Lots of drips but income has dropped quite a bit. However, this is understandable as we sold a lot of stock to pay off our heloc last fall.
If you’re interested, check out our Dividend Income Past Reports.
Our Drips (Dividend Reinvestment Program) added $41.49 dollars to our forward income. Beautiful!
Other income
Payment of private investments – $1000.00
1k per month, very nice!
Income from solar panels
In June (We always get paid a month later) our solar system produced 1,144 kWh. Since we carry a flat rate of 28.8 cents per kilowatt hour, Hydro One filed $329.65 in our checking account this month.
Last June the system was created $386.83, So this month brought less sun.. It was expected as we have more rain this time of year than I ever remember.
Total income for 2023 – $1,193.87
The system was installed in January 2018
Total system cost ——–$32,396.46
Total income ——–$13,366.16
_________________________________________________
Amount to overcome —- $ —19,030.30
Bring on the sun!
Total Passive Income July 2023 – $2,209.46
Passive Income June 2022 – $2.722.84
Down too, but over 2.2k is still pretty sweet!
Totals for 2023
Dividends Year To Date Total – $5,428.96
Another Year of Passive Income to date – $8,957.71
Total Passive Income for 2023 —– $14,386.67
Year End Goal – $26,000 (55.33%)
7 months later and we are still behind the target. Set them to high and miss is better than low and hit I guess.. 5 months to go though!
July stock purchases/sales
This month we made 2 purchases and 2 sales.
Discounts
We sold ours Stanley Black and Decker position for 11% profit. I just didn’t find myself wanting to add to this position anymore and the stock took off a bit so we sold out. We sold 27 shares at 98.91 per share losing $87.48 in forward revenue.
We fixed ours Microsoft Position… I know crazy! you never sell microsoft…. I hear you all, but at a 39 p/e ratio I thought it would be a good idea to just take some profits. The ai hype drove this position to 8.4% of our portfolio and I wanted to reduce our exposure and add to another position. We sold 8 shares at $362.49 per share losing 21.76 in forward revenue. Microsoft is still in our top 3 holdings
Shopping
With the US dollar funds we had from the sales I decided to increase our position in Home Depot. Love the company and its dividend growth. Also, if you know me, I love Halloween, especially Halloween animatronics. This year hd hit the road and out of all the major retailers I think it’s safe to say hd has the best out there. It’s such a small factor in their business, I know, but you have to have the companies you like!
We bought 19 additional shares for $316.48 per share adding $158.84 in forward proceeds.
Telus – We continued to rebuild our position at Telus. We bought 87 shares at 23.80 per share. This purchase adds $126.53 in forward income
In total we added $176.13 in future annual dividend income with these purchases. And a holding in our portfolio was removed.
Total added forward dividend income from purchases in 2023 – $797.25
Bitcoin
Bitcoin has gone down a bit in the last month, but we continue to add $20 a week to our position.
We decided to go with shakepay because it is regulated in Canada and you shake the phone everyday to get some free sats (bitcoins). They recently changed the way shaking sats are done. You get a certain amount per day now
A deposit of 100 dollars gives you 10 dollars and 10 for the referrer. Feel free to use my affiliate here if you are interested in trying out the crypto space. Or if you are a fan of the site and want to throw me some btc my Shaketag is @hutz8
I appreciate the support.
Updating Financial Goals
Charitable institutions
Etf Monthly Minimum Purchase $250
- This month we added 0 more xaw etf units.
- Questrade* is great because it offers free etf trading and cheaper stock trading options than most Canadian brokers. $250.00 a month would kill us if we needed to pay high transaction fees.
- * Please note that the questrade link is an affiliate link and at no extra cost to you, I would receive a small payment if you sign up. However, you could get $50 in free trades using my affiliate link.
We did not add this month as I felt the markets offered us a better opportunity at this time.
July 2023 Passive Income Summary
All in all a great month and a fun summer with the family. Time flies as we are fast approaching September already. Just crazy!
All our dreams can come true if we have the courage to pursue them. – Walt Disney
Hi, I’m Rob, creator of Passive Canadian Income.
In 2011 my wife and I had nearly $60,000 in debt and a negative net worth of $7,000. Through hard work and financial education we paid for all this. We are now focusing on growing our passive income streams to make money work for us. Feel free to follow the journey by clicking the social media links below or sign up to receive notifications of new posts in the sidebar.
