February 2023 Passive Income – Good Times

PUBLISHED Mar 29, 2023, 1:42:20 AM        SHARE

imgPassive Canadian Income Blog
  • 3 sources of passive Income
  • $321.22 from dividends
  • 1 stock/unit dripped in February
  • Trailing 12 Month Portfolio Return 1.03%

S&P 500 12 Month Total Return -7.69% for February 2023

S&P/TSX Composite Index 12 Month -5.57% March 15 2023


Sorry for the delay in our monthly reports.

Life has been really busy and the wife and I went away to Mexico once again to soak up the rays, shoot some tequila and enjoy kid free time together.

The market changed quickly eh? Is this just the start or did the fed backstop it enough to cool things off? I dunno but it is something I thought was going to happen as I said in the fall when I sold all our financial stocks. You can read that post here with no edits.

“The more I thought about things the more I see a coming financial crisis. Finland is warning of an “energy-industry Lehman Brothers” crisis coming. I think there will be a ripple effect coming. Check out Deutsche Bank and Credit Suisse stock prices to see whats happening there. Credit suisse has said the worst is yet to come…”

and here we are, the news keeps talking about credit suisse. While some of the stocks we sold are down in price, surprisingly to me some are still up. I don’t think the worst is over yet but I continue to dollar cost average money into the market.

Something to consider is back in 08/09 banks started cracking 4-5 months before things really went to sh#t.

We live in a printing press world and as much as I hate it, its a reality. Biden and Trudeau are spitting money out left right and centre. Short term that could be good for the market, but long term oh boy…. But some of you know my thoughts on that – Tinfoil hats right? 2030 you will own nothing and be happy.


My son turned 10 in February, we had a nice party at lazer tag. It was great. I came third the first round but failed miserably the 2nd as I took my daughter and her friend out for their first time. (my daughter even beat me, although it was free for all so she was probably shooting me right?)

That saying – Enjoy em they grow fast – Is so true, there’s moment’s that drive you crazy but man does time ever fly.


Speaking of which I turned 40. We booked a last minute trip back to Mexico to celebrate. So what do 40 year olds do? Well we wear pink flamingo shirts and linen pants now. =) Read books on the beach, (finished the psychology of money, great book) but still smash tequila shots and lots of mohitos. Every year hangovers get worse, but those are great reading days right?

We took the fairy over and explored isla majeres – The island of women. A beautiful place, saw a little remains of a mayan building, did some shopping and checked out the amazing beach there. Unfortunately the only topless women were those statues… I’ll take it though! haha =)

We ended up taking a dream liner plane back to Toronto. Wow those are nice planes, 3 rows of seats not as cramped as regular planes. Dimmable windows and tv screens. (I haven’t had tv screens since flying to the canary islands a couple years ago) Having this big of plane I thought would just show how bad pearson airport would be with lineups etc, but surprisingly there was absolutely no lineups to get through everything. Nice work Pearson Airport.

Alright, Let’s Get To Our February 2023 Passive Income

Raises/ Cuts

6 Raises this month, gotta love it!

Bell Canada – They raised their dividend by 5.2% which added 32.11 to our forward dividend income.

Nutrien – Nutrien threw down the biggest raise we have gotten so far. They boosted their div by an impressive 10.4% unfortunately this a small position so only added $15.36. I’ll be adding to this position soon enough after this raise.

Tc Energy – They raised their dividend by 3.3% adding 21.24 to their future dividend payments.

Brookfield Renewable – who down with bep? Yeah you know me! 5.5% raise adds $19.39 – Spoiler alert – Added to this position in Feb

Cisco – The weakest raise of 2023 go’s to cisco. woot woot!…… 2.63% adds 5.68. The turnaround is looking good though

Home Depot – The stock I want to add to but haven’t. A 10% raise means I have too. It’s one of my new rules. This added 7.61 in forward divs.

Total Added Income from Dividend Raises in 2023 – Negative $97.46

This month was a fantastic month for dividend raises adding a solid $101.39 to our forward income. Sadly that Algonquin cut in January still keeps us in negative territory.. It is what it is, atleast aqn has shot up from their lows before the cut (why didn’t I back up the truck, I was thinking about it at $8.50)

Dividend Income

February 2023 Dividend Income

6 Companies paid us this month.

Dividend Income

1 stocks/units Dripped in February.

As always these months are our lowest income months, but I gotta say I love all those American dividend payers. Especially when our Canadian dollar is oh so bad! Only 97 cents of that income was Canadian, so that’s basically like 1000 bucks once converted. (It’s not actually)

If your interested check out our Previous Dividend Income Reports.

Our Drips (Dividend Reinvestment Program) added a monster $2.16 in future dividends. (probably our lowest month ever but that usd will probably be put to work soon enough in hd or txn)

February 2023 Passive Income

Other Income

Private Investment Payment – $1000.00

1k a month, very nice!

Solar Panel Income

In January (We always get paid a month later) our solar panel system generated 39 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $11.28 into our chequing account this month.

Last December the system generated $39.61 so we are way lower. Pretty safe to say the panels had more snow on them this year than last year. Winter months for solar definitely don’t do much.

Total Income for 2023 – $39.26

System Installed January 2018

Total System Cost ——–$32,396.46

Total Income Received ——–$12,211.55

Amount to Break even —- $ –20,184.91

It’s gonna be nice once we get $184.92 and that drops under 20k. Not much more to say. Solar panels in Ontario during the winter are not good.

February 2023 Passive Income

Total February 2023 Passive Income – $1,332.5

February 2022 Passive Income – $882.75

While our dividend income is down, the overall passive income continues to increase. Overall our passive income grew by 50.94% year over year, Let’s go!

February 2023 Passive Income

Totals For 2023

Dividends Year To Date Total – $1,169.74 Other Passive Income Year to date – $2803.10 Total Passive Income for 2023 —– $3,972.84 Year End Goal – $26,000 (15.28%)

Almost 2k a month average, a little behind the goal but there’s still plenty of time.


February Stock Purchases

We made 1 purchase this month after their raise announcement.

Brookfield Renewable – This stock has treated us very well over the years, with both capital appreciation and dividend raises. I think governments and the general green movement will continue to be a boost for brookfield renewable. The price has came down quite a bit and I decided the time was right to increase our position. We bought 53 more shares at 36.95 per share. This adds $71.55 usd in forward income and most likely will allow us to drip another share per quarter. Love that!


Bitcoin has continued to do very well for us since we started buying in the fall. Just remember all these scandals and stuff is always these crap coins… Personally I’m only sticking with Bitcoin. I put 20 bucks a week into this investment, money we can afford to lose.

Total invested – $390

Crypto account

I decided to go with shakepay because it is regulated in Canada and you shake the phone daily to get some free sats (bitcoin). I shake everyday and with over a 100 day streak, I’m now getting about 15 cents a day in free bitcoin.

A 100 dollar deposit gets you 10 bucks and 10 for the referrer. Feel free to use my affiliate here if your interested in trying out the crypto space. Or if your a fan of the site and wanna toss me some btc my Shaketag is @hutz8

I appreciate the support.

Financial Goals Update


We continue our monthly donation to The Nature Conservancy of Canada of $85.

Etf Monthly Minimum Purchase of $250

  • This month we added 0 more units of xaw etf.
  • Questrade* is great because it offers free etf trades and cheaper stock trading options than most Canadian brokers. $250.00 a month would kill us if we needed to pay high trading fees.
  • Note the questrade link is a affiliate link and at no additional cost to you, I would get a little payment if you were to sign up. You could get $50 in free trades by using my affiliate link though. We didn’t add this month as money went to pay off the trip to mexico. All good next time

February 2023 Passive Income Conclusion

A month full of dividend raises, sun and if you live here in Ontario a tonne of snow. It was a great month overall. Just remember governments are printing money like crazy, you can’t print time.. Go out there and make the most of it!…… while being fiscally responsible =) haha!

Originally Posted on passivecanadianincome.ca

I/we have a position in an asset mentioned

Sound investments
don't happen alone

Find your crew, build teams, compete in VS MODE, and identify investment trends in our evergrowing investment ecosystem. You aren't on an island anymore, and our community is here to help you make informed decisions in a complex world.

More Reads
Recent Stock Purchase March 2023

As you know by now I make a stock purchase every single month no matter what is going on in the world and despite the doom and gloom headlines.

Recent Stock Purchase/Sale February 2023

As you know by now I make a stock purchase every single month no matter what is going on in the world and despite the doom and gloom headlines.

Dividend Income Update January 2023

It’s dividend income update time. One of my favorite times of the month as I get to review my previous month of passive income received from my dividend income portfolio.

Is AES a Buy

Considering buying AES stock? Learn about their operations, potential for growth, and risks involved before making any investment decisions.

Is EIX a Buy?

Get expert analysis on EIX (Edison International) to determine if it's a good buy. Analyze financials, market trends, and future prospects to invest wisely.

ED Stock Forecast

Get the latest ED stock forecast and analysis, including price predictions, news, and expert insights. Stay informed about the performance of Consolidated Edison, Inc., and make informed investment decisions with our comprehensive stock market data and forecasts.

Dividend Safety Analysis: Franklin Resources (BEN)

The firm is a Dividend Aristocrat and Dividend Champion with 42 years of increases, which makes it interesting to dividend growth investors. The dividend has been raised continuously since 1981.

United Parcel Service (UPS) – Delivering Dividends in 2023

The year of 2023 has already started in turbulent mode. The S&P 500 is up almost 4%, as inflation appears to have cooled on earlier reports. However, I think the economy is being overlooked, as I predict we are still in for a rude awakening.

Why I’m Investing into Vanguard Dividend Appreciation (VIG) ETF Daily!

By the time of this article release, I have now had a daily investment into Vanguard’s Dividend Appreciation ETF (VIG), another wonderful Vanguard ETF. The community knows I buy Vanguard’s S&P 500 (VOO) daily and Vanguard’s High Dividend Yield (VYM) weekly, so what gives?

February 2023 Stock Considerations

With a new trading month already in full swing it is time, once again, to highlight some of my potential stock purchases. While the market had a nice bounce in recent months there is still no shortage of stocks that are becoming fairly valued to undervalued.

Recent Stock Purchase January 2023

It has been a very, very long time since I made two or more separate tranches of buys in a single month but sometimes the market has a flash sale and adding more shares is just too tempting to pass up.

Which Utility is Most Invested in Renewable Energy. Are They Worth Your Investment?

U.S. utilities are on a path to convert their power generation fleets to renewable energy. But are they worth your investment?

The Top Utility Stocks by Wind Energy, but Should you Invest?

The stock market may be selling renewable energy stocks at a premium. Let’s discuss which utility stock you should invest in that is also a good financial investment.

SCHD vs. VIG: Which Dividend Growth ETF Fits in Your Portfolio?

Dividend-yielding ETFs (exchange-traded funds) have become the rage recently as tech stocks on the Nasdaq have plummeted, and people are seeking more income. So it is no surprise that people have been talking about dividend growth ETFs like SCHD and VIG.

In a New Era of Bonds

Do I need Bonds in my portfolio? We are in a new Era of bonds, so I thought it was time to ask the question do I need bonds in my portfolio?

VOO vs. VYM vs. VIG – The Vanguard ETF Trifecta!

The GOAT of the industry. Vanguard. John Bogle. Bogleheads. The creator of the mutual fund and home of the best exchange traded funds out there.

The Zen Ten – My Top Picks for 2023

I’ve been publishing the Zen Ten list each December since 2008. I pick my favorites and stick with them all year – no trading.

December 2022 Passive Income

A new year has come. Man oh man did 2022 ever fly by? The market continues its downward spiral and we can see even better prices out there for long term investors. I think this will continue for at least the first half of 23, but who knows.

5 Key Benefits of Long Term Investing in Dividend Stocks

Long-term investing in dividend stocks provides the following 5 key benefits:

Dividend Income Update December 2022

The beginning of every month is exciting for all dividend income investors as we look back at the previous month and see how much passive dividend income our portfolios generated. No doubt, these are the best posts to write and read online as it only provides further proof that dividend investing can work over time and that anyone can create an ever growing passive income stream.

Resources for Publishers
Resources for New Investors
Boosted with BossCoin
Financial Literacy Leaders
Tom Hamilton
Wise Intelligent
Mark Robertson
Kevin Matthews II
Akeiva Ellis
Brendan Dale
Kenneth Chavis IV
Sharita Humphrey