Dividend Income Update - February 2022
I apologize for the delay in getting this posted. If you are new to my blog, I provide monthly updates on my dividend income and any changes I’ve made to my portfolio. I try to get the updates out within the first few days of the month but I am a bit late this time due to visiting my daughter in Vancouver.
When I am at home, I enjoy watching The Open on BNN every morning. The time difference made that a little bit more difficult. I did, however, catch a few Market Calls while I enjoyed my morning coffee in Kitsilano. It was actually really nice to watch this show first thing in the morning. At home, I often miss it because it airs at noon and I'm usually busy doing other things by then.
If you aren’t familiar with BNN’s Market Call, it’s an hour-long programme where analysts answer caller questions about specific companies and provide three Top Picks at the end of the show that they believe to be good investments moving forward. My favourite analysts to listen to are Ryan Bushell, Christine Poole, Brian Madden, Greg Newman, Michael Sprung, Ross Healy, John Zechner and last but not least, Eric Nuttall. There are many others that appear on the show and you can find past recordings online: https://www.bnnbloomberg.ca/market-call
Our Portfolio
You may remember that our 2022 goal is to reach $35,000 in dividend income by year-end. Last year, we earned just over $27,000. As of today, our forward annual dividend income is $33,867. This doesn't take into account any extra purchases or reinvested dividends.
So far, we’ve invested $12,000 YTD, which is our TFSA contributions of $6,000 each. We also hope to add a little bit of money to our taxable accounts at some point this year. All dividends we receive are reinvested to purchase more shares automatically through our brokerage.
Year to date, our portfolio has done pretty well given the volatility of the markets. We hit an all-time high a few weeks ago, but unfortunately, it didn’t last long. Currently, we are up by 9.72% since the beginning of January.
This is a result of our TFSA contributions, reinvested dividends from January and February and unrealized capital gains. I’m pretty pleased with this increase as I know a few people who are mainly focused on tech stocks and their portfolios are down almost 20% since the beginning of the year.
I am thankful for my boring dividend stocks. They continue to pay me every quarter and some even monthly just for owning their shares. I don’t have to worry much when the share price fluctuates because they are companies I plan to own for a very long time. As long as they continue to pay me dividends, I'm happy. If they increase their annual dividend, it’s even better.