- 3 sources of passive income
- $1,294.57 from dividends
- They dripped 19 inventory/units in March
- 12 month portfolio return 6.28%
S&P 500 Total Return 12 months +25.52% for April 2024
S&P/TSX Composite Index 12 Months +12.68% April 2024
They continue to underperform as many of these interest-sensitive stocks in the portfolio have rallied over the past year. I feel these stocks have bottomed out somewhat, while the market as a whole has some room to go. Values seem a little frothy to me today. Ahh, time will tell.
I have held our portfolio for over 7 years now and have beaten the tsx by a total of 8.22 percent per year versus the 7.84 percent the tsx has done. This is to be expected with us stocks in the picture though as their market is just hitting ours =) Just pointing out that lately there seems to be a lot of people on twitter focusing on dividend investors now that interest sensitive stocks are underperforming .
(xaw position and bitcoin are not included in these calculations as they are with different brokers) – this would definitely raise the overall %
Find an investment style that works for you and the donor.
ZOE
Life… Well it drives me a little crazy to be honest… haha
Owning the landscape company is really itching to get started and our weather is making for a real experiment. One day it’s sunny 17 degrees and the next freezing and more snow.. Then warm. Here we are 3 days of rain and it’s white again…..Next week looks good though but I’ve said it before. Now I have to figure out if I will work during the eclipse or call it early…
The recruitment was interesting. Place ads from 24 and up depending on experience. A lot of moms ask about their grown sons, which I won’t even think about. Set up times to meet and interview kids who sound excited and then don’t show up… They had about 40 people apply and found someone willing to work.
Then I get an email from someone who teases me that 24 isn’t a day’s wages. That’s a salary from 10 years ago, I wouldn’t work for less than 30. I found that a bit interesting. It’s basically 8 dollars more than minimum wage and I pay overtime that isn’t required in landscaping. 24 is just to start a laborer slinging carts.. I wonder if this guy is emailing every walmart etc etc posting rants about minimum wage.
I don’t know, I feel like there’s a lot of victim mentality these days. By the way, if you are a mom, I highly recommend asking your child to find a job instead of applying for one. It kind of says a lot about the guy right away.
The phones are still ringing for work, but it’s clearly not the same as the last couple of years. This Covid rush is over. There seems to be a general consensus around here right now. See how things go when the sun is full, but it’s probably already 3-4 months booked.
Okay, let’s get to our March 2024 passive income
Raises/Cuts
1 Increase this month Aecon it came after it didn’t make a raise last year. (due to projects that bid before their costs were exhausted)
They increased their dividend by 2.7% adding $13.56 to our forward dividends.
Total incremental income from dividend increases in 2024 – $186.83
Considering our portfolios, the average return is 3.32%. We would need to add $5,627 of new capital to have the income these increases have produced so far this year. Dividend growth investing is pretty sweet =)
Dividend income March 2024
11 companies paid us this month.
| inventories | March 2023 revenue | March 2024 revenue |
|---|---|---|
| Stanley Black and Decker | 21.50 USD | sold |
| Microsoft | 33.32 USD | USD 30.75 |
| Home goods store | USD 20.90 | USD 65.25 |
| Johnson & Johnson | 75.71 USD | USD 79.73 |
| LMT | USD 66.00 | USD 78.75 |
| Brookfield Asset mgt | 0 | 40.05 |
| Canadian National Railway | 86.11 | 99.71 |
| Allied Property Reit | 0 | 43.80 (2 drops) |
| Suncor | 216.32 (5 drops) | 237.08 (4 drops) |
| Brookfield Renewables | 151.57 (3 drops) | 165.72 (5 drops) |
| Fortis | 129.95 (2 drops) | 156.35 (3 drops) |
| Enbridge | 270.69 (5 drops) | 297.38 (5 drops) |
| Totals | 1,072.17 | 1,294.57 |
19 shares/units Drip in March.
Quarter-ending months are always good. Almost all stocks pay more except msft. I took some profits last year and put them in home depot under 300. New capital increases, drops and dividends did the rest. About 20% increase year over year, I’ll take that every time!
If you’re interested, check out our Dividend Income Past Reports.
Our Drips (Dividend Reinvestment Program) added $47.35 dollars to our forward income….
Other income
Payment of private investments – $1000.00
1k per month, very nice!
Income from solar panels
In February (We always get paid a month later) our solar system produced 413.99 kWh. Since we carry a flat rate of 28.8 cents per kilowatt hour, Hydro One filed $119.23 in our checking account this month.
Last February the system was created $72.86, so it’s safe to say we’ve had more sun this winter.
Total income for 2024 – $176.26
The system was installed in January 2018
Total system cost ——–$32,396.46
Total income ——–$14,455.22
_________________________________________________
Amount to break —- $ —17,941.24
Bob asked if I could include the monthly electricity bill in the post for comparison, so here it is. Our bill for March was about $130. So our system would not cover the power we used this month. But shut up!
Total Passive Income March 2024 – $2,413.80
March 2023 Passive Income – $2,145.03
Over 10% more money than last year. Beat inflation =) Beautiful…
Totals for 2023
Dividends Year To Date Total – $2,990.41
Another Year of Passive Income to date – $3,951.32
Total Passive Income for 2024 — $6,941.73
Year End Goal – $26,500 (26.19%)
25% of the year is over and we are at 26.19% of the goal. It seems to be possible. Almost 7k a quarter.. mmmmm that’s a nice family trip for 4. who needs Avion points? jk we do
Seriously though, a quarter trip would be nice huh?
March Stock Markets
Telus – T
We continue to roll back our position in Telus after selling around $30 on concerns about rising interest rates. I think the telcos will be able to handle the rates, the political landscape has scared me a bit these days. Spend billions improving your systems and then the government can force you to let other competitors use it. I do not know.
Great telecom though and I think it’s at a decent price. (even better now) We added 44 more shares at $23.35 per share adding $66.19 in forward dividend income.
Td Bank – Td
Td still seems to offer fantastic value at the moment. I will say one of Canada’s best banks with a dark cloud hanging over it. (well, not including the upcoming mortgage renewals, but that’s all Canadian banks) The money laundering fiasco. They will get a very nice fine and move on. The sun will shine again. I worked to get this one to 5% of our portfolio at these prices and just keep winning. (Financials are still our 2nd lowest sector) We added 13 more stocks in the $80.64 per share. This added $53.04 to future dividend payments
In total we added $119.23 in forward revenue this month from purchases
Total added forward dividend income from purchases in 2024 – $305.02
Bitcoin
As always, we buy a small amount on each check and just keep the dollar cost average on it.
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 drop me some btc my Shaketag is @hutz8 – worth a shot =)
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 had 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 didn’t buy xaw this month either.
March 2024 Passive Income Conclusion
The months ending in the quarter always make me a little nervous. Things are going great. In 2016 we brought in over $500 all year, if you told me that in a few years we’d be bringing in almost 7k a quarter I probably wouldn’t have believed you, but here we are. What will things look like in 5-10 years, with the composition on our side now?
Hopefully it will smell more like coconuts, with the sound of waves crashing in the background, my lovely wife by my side, a plate of freshly made tacos and maybe a nice chilled Dos Equis or 2……
or maybe it will smell like fish…..with my friend in a boat catching some monster muskie!
haha, let’s go!
Where do you see yourself in 5-10 years??
All the best, well done
I dream big, I dream often. Visualize it, work to get it.
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.
