$102 Passive Dividend Income from Canadian Dividend Portfolio | March 2022
Another month and another milestone – I was able to reach $102 in passive income for the month of March 2022. At this point, 16 months have passed since I invested my first $100 into a few dividend stocks that earned me a few cents in dividends the next month. So, it has been an amazing journey so far.
While March 2022 is a quarter-end month and there are a few dividend stocks that pay out dividends quarterly, I was able to top my previous earnings record. December 2021 was the last quarter-end period that topped all my previous earnings records. But March 2022 was able to top this by a mere $1. I was expecting a little more. But one company had its dividend cut down. But it was a new high nonetheless!
My ultimate target for 2022 is to hit $100 in passive income every month – not just quarter-end months where the earnings are bloated anyway. I have invested a total of $16,889 in this dividend portfolio so far and at a 7% yield, I would be able to earn $1,189 – almost at that $100/month target.
Canadian Dividend Stock Portfolio Value: March 2022
In March 2022, my investment portfolio finally turned green. For so many months, the market value of the portfolio was less than what I had invested due to various negative things going around the world. In March, my portfolio value was up 3%.
Market value rarely matters for a dividend portfolio since the main objective of the portfolio is to build a passive income source. As I mentioned above, the passive incomes continued to deliver despite the fluctuations in the market value. This is why I’ve set myself for an income portfolio over a growth portfolio.
Still, my portfolio’s market value is dragged down by a few stocks by small margins. However, there is one growth stock that has lost its value by 52% since I invested in it. Once this stock also picks up steam, my portfolio will comfortably be in the green.
Canadian Dividend Portfolio Holdings: March 2022
In March, I added another $800 into my TFSA where I maintain this dividend portfolio. This has been the trend for the past few months. I’ve stopped adding money to my RRSP now because it is being converted to a Group RRSP account with my employer.
The new money enabled me to dollar-cost-average into some of the companies that were beaten down. Below is the list of holdings in this portfolio at the end of the month.
| Company | Ticker | No. of Shares | Purchase Price | Total Value at Cost |
|---|---|---|---|---|
| Keyera Corp. | KEY | 107 | $31.49 | $3,369.34 |
| Pembina Pipeline Corp. | PPL | 31 | $39.46 | $1,223.38 |
| Enbridge Inc. | ENB | 23 | $50.46 | $1,160.53 |
| North-West Health Prop REIT | NWH.UN | 73 | $13.21 | $964.15 |
| Timbercreek Financial | TF | 180 | $9.58 | $1,724.51 |
| Newport Exploration Ltd | NWX | 1,656 | $0.45 | $740.90 |
| Pizza Pizza Royalty Corp. | PZA | 184 | $11.33 | $2,084.04 |
| Canoe EIT Income Fund | EIT.UN | 83 | $12.50 | $1,037.28 |
| BMO Canadian High Dividend Covered Call ETF | ZWC | 31 | $18.66 | $578.32 |
| Vanguard S&P 500 Index ETF | VFV | 11.28 | $101.26 | $1,142.42 |
| Bank of Montreal | BMO | 2 | $138.68 | $277.36 |
| Purpose Ether Yield ETF | ETHY | 70 | $6.59 | $461.45 |
| Hamilton Enhanced Multi-Sector Covered Call ETF | HDIV | 20 | $17.84 | $461.45 |
| Harvest Diversified Monthly Income ETF | HDIF | 17 | $9.80 | $166.52 |
| Vision Lithium | VLI | 1120 | $0.18 | $201.95 |
| Standard Lithium | SLI | 11 | $10.86 | $119.43 |
| CloudMD Software | DOC.V | 692 | $1.85 | $1,280.97 |
| Total | $16,889.40 |
During the month, I was able to average down on several holdings such as Purpose Ether Yield ETF, Keyera Corporation, Timbercreek Financial, and CloudMD. I also added a brand new ETF, Harvest Diversified Monthly Income to push those monthly dividends up.
Dividend Income Update: March 2022
Gloating over the highest-ever monthly dividend income of $102, below is the full breakdown of all the dividend incomes for the past six months.
| Company | Oct 21 | Nov 21 | Dec 21 | Jan 22 | Feb 22 | Mar 22 | Total (All time) |
|---|---|---|---|---|---|---|---|
| Keyera Corp. | $12.32 | $12.32 | $12.32 | $12.64 | $14.24 | $16.16 | $101.44 |
| Manulife Fin. Corp. | – | – | – | – | – | – | $2.2 |
| Pembina Pipeline | $5.25 | $5.46 | $5.46 | $5.46 | $6.51 | $6.51 | $49.56 |
| Shaw Comm. | – | – | – | – | – | – | $2.79 |
| Canadian Ut. | – | – | – | – | – | – | $1.32 |
| Enbridge Inc. | – | – | $16.7 | – | – | $17.2 | $52.27 |
| North-West REIT | $4.33 | $4.33 | $4.33 | $4.4 | $4.87 | $4.87 | $36.07 |
| E Split Corp (A) | – | – | – | – | – | – | $3.3 |
| Timbercreek Financial | $9.26 | $9.26 | $9.23 | $9.37 | $9.43 | $9.72 | $71.4 |
| Dividend 15 Split Corp. | – | – | – | – | – | – | $2.4 |
| Canoe EIT | – | – | $8.0 | $8.2 | $8.30 | $8.30 | $34.5 |
| Newport Exp. | – | – | $32.5 | – | – | $16.5 | $71.76 |
| Pizza Pizza Royalty Corp. | $10.62 | $10.62 | $10.62 | $10.74 | $10.86 | $11.90 | $65.36 |
| BMO High Div ETF | – | $0.60 | $2.6 | $3.1 | $3.1 | $3.1 | $12.5 |
| Vanguard S&P 500 ETF | – | – | – | $3.69 | – | – | $3.6 |
| Bank of Montreal | – | – | – | – | – | $2.66 | $2.66 |
| Purpose Ether Yield ETF | – | – | – | – | $2.30 | $3.74 | $6.04 |
| Hamilton Enhanced Multi-Sector Covered Call ETF | – | – | – | – | – | $1.88 | $1.88 |
| Total | $41.78 | $42.59 | $101.76 | $57.6 | $59.6 | $102.6 | $521.26 |
Take a look at the incomes from Pizza Pizza Royalty Corp. above. You can see how the monthly dividend income has grown every month. This is thanks to reinvesting dividends. I am able to increase my holding of the company without investing out-of-pocket. All of these new shares will be buying me more shares of Pizza Pizza for the foreseeable future, thus growing my bag with the company exponentially. This is the magic of compounded dividends.
Newport Exploration had a massive dividend cut despite the oil prices skyrocketing in the world market. Whilst this impacted my expected dividend goal, this was a precautious move by the company regarding their upcoming drilling projects. In the dividend announcement for the quarter, the company said;
“At this time management consider it prudent to return to the $0.01 quarterly dividend, at least for this Quarter, until we know the impact on production from the three horizontal wells on ex PEL 91 to be brought on-line in Beach’s Q3, 2022”, stated Ian Rozier, President and CEO of the Company.
I can respect the company’s decision to tread carefully into new waters. They have been very generous with dividends so far, and I expect this to continue after their operations are under control.
Keyera Corporation continues to be my highest dividend earner in dollar value and as a % of the investment. The second place is shared by Timbercreek Financial and Newport Exploration.
In terms of total return (dividend income + price appreciation), Pizza Pizza Royalty Corporation has been the absolute winner in my portfolio. Its total return stands at $573, and only $65 of this is through dividend income. I was able to buy Pizza Pizza Royalty Corp. when the pandemic hindered its operations and the price was taking a beating. Now that restrictions are easing and people adjust to the new normal and Pizza Pizza expanding its network, I was able to enjoy a nice value appreciation.
That is all for this month’s update. All-in-all very solid performance all around. The journey continues in the next month’s update.
Stay tuned!
