April 2023 dividend update

Oh boy is our money pit taking up a lot of time and effort! But progress is being made and we have a new roof, windows and the outside is being improved at the moment. Hence, didn’t have much time (or energy) to blog. But fortunately the passive income continues to flow in! Love dividends. Here is the April 2023 dividend update.

Dividend Income

April is typically a pretty good month. However, the year over year growth limited this time, which had it’s primary cause in AQN slashing it’s dividend by 40%. It hurts a bit, might have had to shift/sell quicker with that stock. A well, that is why one diversifies! Plus the income is still pretty good.

April 2023 Dividend Update: monthly overview

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

April 2023 Dividend Update: yearly overview

The DRIP’s (Dividend ReInvestment Plan = dividends are reinvested, sometimes with a discount to the share price and no fees for the conversion) keep 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):

April 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:

April 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, but we will keep going for now as is. We won’t increase real estate any time soon, due to increasing interest rates and associated risks. 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:

April 2023 Dividend Update: portfolio overview

How’s your dividend portfolio doing?