Welcome to a brand new month-end performance review of my Canadian dividend investment portfolio. February 2022 has been a very interesting month — my dividend income hit a new high for a non-quarter-end month, which has been a recurring theme in my portfolio of late.

If you have been following my dividend journey, you might already know that my dividend portfolio hit a major earnings milestone. It reached the $50/month income goal for the first time since I started this journey in December 2020. This has been a long time coming and it feels as if the portfolio is set to accelerate with compounding soon.

In February 2022, I was almost able to hit another milestone — $60/month. But earnings fell short of about $0.40, which is not bad at all. As good as it is, I have set myself an aggressive earnings target for 2022. I want to reach that first significant earnings goal — $100/month within this year. Will I be able to do it? The following details may tell us.

Canadian Dividend Stock Portfolio Value: February 2022

The stock markets all around the world have been in reddish waters since the beginning of the year. So, my portfolio, too, has seen some red days more than green days. At the end of February, the market value of my portfolio ended in red (no surprises there). But this was mostly due to several growth stocks that have been severely underperforming.

These growth stocks are in my portfolio for the long haul, so current unrealized losses on these are no concern for me. Also, some of the dividend stocks have seen dips in their market prices, which only makes me want to buy more of them and dollar-cost-average down on these. And I did this during the month.

As of February 28, 2022, the total market value of my portfolio stood at $15,403.89, down by 3.6% of what I’ve invested. This included one growth stock that had lost over 60% of its value since I bought it.

Market prices are of little concern for a dividend investor, as I will not be liquidating any of the holdings any time soon. I will keep on reinvesting dividends back into the portfolio and growing the bag.

Canadian Dividend Portfolio holdings: February 2022

In February, I was able to continue with my monthly $800 investment into the portfolio. With this, I was able to dollar-cost-average down on some existing holdings as well as add a new ETF to my portfolio. Here is a breakdown of all my holdings at the end of the month.

Company	Ticker	No. of Shares	Purchase Price	Total Value at Cost
Keyera Corp.	KEY	101	$31.61	$3,192.48
Pembina Pipeline Corp.	PPL	31	$39.46	$1,223.38
Enbridge Inc.	ENB	20	$49.55	$991.00
North-West Health Prop REIT	NWH.UN	73	$13.21	$964.15
Timbercreek Financial	TF	169	$9.59	$1,620.12
Newport Exploration Ltd	NWX	1,656	$0.45	$740.90
Pizza Pizza Royalty Corp.	PZA	183	$11.31	$2,070.43
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	11.15	$101.31	$1,129.52
Bank of Montreal	BMO	2	$138.68	$277.36
Purpose Ether Yield ETF	ETHY	45	$7.01	$315.38
Hamilton Enhanced Multi-Sector Covered Call ETF	HDIV	15	$17.82	$267.30
Vision Lithium	VLI	1120	$0.18	$201.95
Standard Lithium	SLI	11	$10.86	$119.43
CloudMD Software	DOC.V	657	$1.91	$1,255.97
Total				$15,993.00

The latest addition to my portfolio is the Hamilton Enhanced Multi-Sector Covered Call ETF (HDIV.TO). This is a rather new ETF, started in July 2021, with monthly distributions and a high yield thanks to its covered call premiums. It holds several other Hamilton ETFs spread across sectors such as financials, utilities, energy, commodities, healthcare, and tech. Hence, its name; ‘multi-sector.’ So far, the ETF has had a good track record of monthly dividends, which makes it a great addition to my portfolio.

Dividend Income Update: February 2022

As I mentioned before, February hit a new monthly high for my dividend income. This was a staggering $59.61 from 8 different companies. I am confident that next month, I will be able to destroy the $60/month goal.

Here are all the dividends I’ve earned for the last six months.

Company	Sept 21	Oct 21	Nov 21	Dec 21	Jan 22	Feb 22	Total (All time)
Keyera Corp.	$12.16	$12.32	$12.32	$12.32	$12.64	$14.24	$85.28
Manulife Fin. Corp.	–	–	–	–	–	–	$2.2
Pembina Pipeline	$5.25	$5.25	$5.46	$5.46	$5.46	$6.51	$43.05
Shaw Comm.	–	–	–	–	–	–	$2.79
Canadian Ut.	–	–	–	–	–	–	$1.32
Enbridge Inc.	$16.7	–	–	$16.7	–	–	$35.0
North-West REIT	$4.33	$4.33	$4.33	$4.33	$4.4	$4.87	$31.2
E Split Corp (A)	–	–	–	–	–	–	$3.3
Timbercreek Financial	$7.71	$9.26	$9.26	$9.23	$9.37	$9.43	$61.6
Dividend 15 Split Corp.	–	–	–	–	–	–	$2.4
Canoe EIT	–	–	–	$8.0	$8.2	$8.30	$26.2
Newport Exp.	$22.7	–	–	$32.5	–	–	$55.2
Pizza Pizza	–	$10.62	$10.62	$10.62	$10.74	$10.86	$53.4
BMO High Div ETF	–	–	$0.60	$2.6	$3.1	$3.1	$9.4
Vanguard S&P 500 ETF	–	–	–	–	$3.69	–	$3.6
Purpose Ether Yield ETF	–	–	–	–	–	$2.30	$2.3
Total	$68.85	$41.78	$42.59	$101.76	$57.6	$59.6	$418.66

If you look closely, some stocks such as North-West Healthcare Property REIT, Pizza Pizza Royalty Corp., and Canoe EIT Income Fund earnings have been growing ever so slowly every month. This is the effect of compounding growth. Dividends earned from these stocks go right back into buying more stocks of the same companies. So, every month, I will be earning a higher dividend income. This is called a dividend snowball.

At my current average dividend yield, I’m set to earn about $705 for the full year of 2022. While this is pretty amazing, I want to try and reach that $100/month income target by the end of the year. At this rate, I would be making a $1,200 extra income doing nothing.

Last quarter-end (December 2021), my portfolio crossed the $100 income threshold. The next quarter-end, March 2022, is going to be insane. I’m going to predict an income of around $120 for March. Catch us on the next update to see if I got this right.

Until then, happy investing.