February 2023 Dividend Update

Welcome to March! February was pretty uneventful for us. Not a bad month perse, but just not a lot going on. The home renovations are progressing slowly, but are still progressing! Our dividend portfolio did the same, no major movements but still a steady climb year of year on monthly basis (special dividends not taken into consideration). Anyhow, here is the February 2023 dividend update.

Dividend Income

February is typically a slower month. But looking at this past month, a “slow” month is now providing more income than a “good” month a few years back. Isn’t organic dividend growth great?

February 2023 Dividend Update: monthly overview

Add all this up and you get this yearly overview (in Euro’s):

February 2023 Dividend Update: yearly overview

2023 is definitely off to a good start! The DRIP (Dividend ReInvestment Plan = dividends are reinvested, sometimes with a discount to the share price and no fees for the conversion) keeps going well, which should help a lot in continuing the dividend income growth.

History and organic growth

This dividend portfolio is (currently) our self-managed actual pension (all shares are held in Registered Retirement Savings Plans (RRSP’s) in Canada). So, it better improve on a yearly basis otherwise we are screwing future (retired) selves. Albeit we can access this money before age 65, we don’t want to touch this until we have very little Box 1 income.

When you take out the European shares we shortly held back in 2016/2017 (leaving Canadian shares only) and take away the Exchange rate fluctuation, you get this organic growth (only funds added in 2015 – reinvested since):

February 2023 Dividend Update: yearly overview (organic growth)

Want to see more of these pretty graphs, have a look at what Bob did! That’s just pure Dividend porn.

Sector distribution

We have a fairly conservative portfolio with many boring companies. When you plot them in a pie chart, you get this:

February 2023 Dividend Update: sector split

We are currently happy with this distribution, but there are definitely changes expected in the future. Primarily depending on whether we all get serious with our carbon emissions. It is perhaps not a bad idea to take some profit from the energy sector and increase holdings in the financial sector and diversify more. We don’t increase real estate soon, due to increasing interest rates. Utilities we will likely keep as is.

Dividend Portfolio Details

As noted earlier, our dividend portfolio is held in two tax deferred accounts in Canada (RRSP’s). The current value (before any withholding taxes) and stock overview is provided below:

February 2023 Dividend Update: portfolio overview

How’s your dividend portfolio doing?

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