FFJ Portfolio – April 2017 Dividend Income Report

Welcome to my April 2017 dividend income post. Within the FFJ Portfolio I generated dividends totalling CDN $1933.55 from BCE, SRU.UN and BNS and USD $445.78 (this is net of the 15% US withholding tax) from NKE, WMT, and CSCO.

As at the end of April 2017 I have generated YTD dividend income of CDN $3783.52 and USD $3328.02.

I had set a target of CDN $7,000 and US$11,000 at the beginning of the year but I will need to revisit this target in the next couple of months for the following reasons:

  • In March 2017 we transferred TSX: RY and additional TSX: BCE shares to the FFJ Portfolio;
  • We hold shares in TSX: DH but this entity is being acquired. The closing date of this deal has not yet been finalized;
  • I intend to transfer TSX: BNS shares into my wife’s, my daughter’s, and my Tax Free Savings Accounts (TFSA) within the next couple of weeks; we are permitted to contribute up to CDN $5500 each. BNS is currently trading at CDN $76.72 so I envision a reduction of about 216 shares from the roughly 700 shares held in the FFJ Portfolio. BNS pays a CDN $0.76 quarterly dividend so this will result in a roughly CDN $164 reduction in the FFJ’s quarterly dividend income;
  • Receipt of a significant inflow of funds is anticipated in late May / early June 2017. These funds will be added to the FFJ Portfolio. I will deploy same when stocks in which I am interested in increasing our exposure and/or initiating a position reach what I deem to be reasonable valuation levels.

Given the changes noted above, the target I set at the beginning of the year will need to be reassessed to ensure it takes into consideration the recent and upcoming changes to the portfolio.

That’s it for now.

How was your dividend income in the month of April? On a year-to-date basis, are you ahead or behind plan?

Note: I appreciate the time you took to read this post. As always, please send me any feedback and questions you may have.