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Dividend Income – February 2012

Dividend Income - February 2012My dividends are rolling in like clock work :). Even with my DRIP, my cash account is growing steadily and I will be able to make some puchases with the cash dividend this year. I expect to be investing a fair bit in the later part of the year – better get started on my research.

Dividend Income

My dividend income for February 2012 is $474.04. I am quite happy to see I am nearing the $500 per month. The only contribution I have done recently is $300 towards Telus and BMO in my Computershare account. If you did not know, CIBC Mellon no longer operate as a Transfer Agent and has sold their operations to CST (Canadian Stock Transfer). I have attempted to purchase $600 worth of Enbridge (through CST) and I am waiting for my cheque to go through and see how efficient they are. I am quite far being with my holdings with CST compared with Computershare.

Dividend Paying Holdings

Here is a list of my current holdings as of writing by accounts.

Broker Accounts (RRSP, TFSA, …)

Computershare & CIBC Mellon Accounts

Readers: Do you have any stocks on your radar?
Disclamer: Please note that this blog post represents my opinion and not an advice/recommendation. I am not a financial adviser, I am not qualified to give financial advice. Before you buy any stocks/funds consult with a qualified financial planner. Make your decision at your own risk – see my full disclaimer for more details.

Image: Simon Howden / FreeDigitalPhotos.net

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21 Responses to "Dividend Income – February 2012"

  1. You are beating my almost $6/month. I am about to purchase BCE and am excited about adding that to my portfolio. You will be at $500 before you know it.

  2. I am just getting started on a dividend focus and own INTC, STX, AKS, SLW, SDRL which pay dividends. Unfortunately, it seems like they all pay at the end of each quarter so I don’t have a nice monthly result yet. Maybe someday, as it grows.

  3. Keep it up man!!!!!

    It’s Valentine’s Day….I Love Dividends :)

  4. gibor says:

    I’ll get about $630 in dividends in Feb. Than will be the lightest month, in March I think will be less than $500

  5. MoneyCone says:

    Very nice PIE! I see you have some solid stocks in your PF! I can only see your dividend income going up!

  6. A nice chunk of change PIE!

  7. Miiockm says:

    May I ask roughly how much money you have tied up in these stocks to be earning $500/month in dividend income?

  8. Awesomeness!!

    I remember asking before, but what’s your portfolio size?

    I clicked the notify of follow up comments just for you ;)

    • The Passive Income Earner says:

      @YT & @ Milockm

      I have invested about $85K and it’s worth about $105K now. I was investing during 2009 and I did good then and also got in cheap with some companies for a high yield.

  9. It sure is hard to beat quality dividend yielding stocks. Once we get out of debt, we are going to start building up our portfolio a bit.

  10. Bernard says:

    Hi there!

    I have been doing a bit of research and you have inspired me to start investing in dividend stocks. (mainly dividend stocks with a record of increasing dividends).
    I have been saving for a while and some of the stocks I am interested in are FTS, ENB, BNS, and KO.
    With fts enb and bns being Canadian stocks, I will put it in my TFSA and synthetically DRIP them.

    But i am kind of lost as to what to do with KO.
    It is a US stock and I know that the most efficient account to put it in is the RRSP. My RRSP is with scotia mcleod.
    I was looking around your site, the dividend ninja’s site, dividend guy’s site, and my own advisor’s site but I could not find where you guys put your KO stock and if you guys DRIP your KO stock or not?
    I know some Canadian brokerages will synthetically DRIP US stock.
    Do you happen to know which Canadian brokerage will Synthetically DRIP KO?

    • The Passive Income Earner says:

      @Bernard

      Thanks for the kind words. Those are very good picks. ENB may be overvalued at the moment but it is a really good utility :)

      At the moment, I have all my US investments inside my RRSP. It’s the most efficient from a return and tax perspective. If you were to hold them in your TFSA, you would have to pay the US withholding tax on the dividends but your capital gains and dividends are tax free. If you hold them in a non-registered account, you have to pay the withholding tax on the dividends, the capital gains when you sell and the dividends do not have any tax credit.

      In short, the preferable accounts are RRSP, TFSA and non-registered. There is some information on foreign taxes here.

  11. Bernard says:

    Thanks for all the tips in all your articles:)
    and I never thought about putting dividends stocks in the TFSA and having the capital gains and dividends tax free. There might be a scenario in the future that that will work in my favor.

    I don’t mean to ask again, if you don’t mind giving me advice again:P~
    But do you DRIP your KO? and do you know any canadian discount brokers which will synthetically DRIP KO?

    • The Passive Income Earner says:

      @Bernard,

      Many discount brokers offer synthetic DRIP. I can think of a few that I have confirmed. Questrade, RBC Direct Investing, ScotiaITrade, and TD Waterhouse. BMO InvestorLine has limited DRIP. Email the discount brokers to confirm and stay tune for my next post coming up in 10 minutes since it’s all about discount brokers.

  12. Tom says:

    Great report, keep these up, I like them! I have just recently started investing with dividends this past year or so. I’m finding that it’s a great investment with a lot of potential that truly isn’t that risky! I’m just finding that I’m getting so addicted to it, I’d rather throw money at my stocks rather than enjoy it. Is that a problem? ha ha.

  13. Bill says:

    What is your age? You are doing very good. I have invested in quality dividend stocks for 45 years. I have a stock you might be interested in. I’ll give it to you by private e-mail.

  14. Attractive section of content. I just stumbled upon your site and in accession capital to claim that I get actually enjoyed account your blog posts. Any way I’ll be subscribing in your augment and even I achievement you get entry to persistently rapidly.

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