This month, I have an addition to my dividend portfolio. After taking some profits from Liquor Store (LIQ) in my TFSA account, I decided to purchase Canadian National Railway – a solid transportation company across North America. From a business point of view, the company isn’t going anywhere any time soon as trains are still very economical in distributing our goods across the country. I did a comparison of CNR and CP if you are curious about the players and why I chose CNR over CP.
The addition of CNR will actually reduce my dividend income in the short term but I expect stronger results in the future as Canadian National Railway is a true dividend growth stock for the 10/10 rule.
Dividend Income
As you can see from the graph, there is a pattern in my dividends with a couple of good months followed by a lower month. May happens to be a good month with $512.73. I am on track to earn $6,000 this year but $7,000 may be stretching it. It’s my goal but even if I can save, I only have a couple of quarters to grow my dividends by an extra $1,000. That’s a tall order.
I am currently following a number of U.S. companies as I anticipate being able to add some money to my RRSP over the summer and take some positions in some dividend aristocrats conglomerates. MSFT just started trading a little below $30 these days too. I am a believer in holding a larger position U.S. companies in my RRSP whereas I have none in my TFSA since there are no beneficial treatment for foreign dividend income.
I continue to slowly add to my Computershare and Can Stock holdings. Every now and again I send a $50, $100 or even $300 cheque to increase my position. I have a simple simple where I add to the holdings that are behind. I hold BMO and BNS on both side mostly because I wanted to transfer share to my kids. At 10 and 12 years old, my children are investors 
Dividend Paying Holdings
Here is a list of my current holdings as of writing by accounts.
Broker Accounts (RRSP, TFSA, …)
Bank of Nova Scotia (BNS)
Bank of Montreal (BMO)
Royal Bank of Canada (RY)
Toronto Dominion (TD)
National Bank (NA)
Canadian National Railway (CNR)
Crescent Point Energy (CGP)
Kimberly-Clark Corporation (KMB)
AT&T (T)
Rogers Communications (RCI.B)
Cominar Real Estate (CUF.UN)
Johnson & Johnson (JNJ)
Coca-Cola (KO)
Liquor Store (LIQ)
Power Financial (PWF)
Manulife Financial Corp. (MFC)
Husky Energy (HSE)
A Mututal Fund generating ~8% dividend
Computershare & CIBC Mellon Accounts
Bank of Nova Scotia (BNS)
Bank of Montreal (BMO)
Canadian Imperial Bank of Commerce (CM)
Sun Life (SLF)
Telus (T.A)
Bell Canada (BCE)
RioCan (REI.UN)
Transcanada Pipeline (TRP)
TransAlta (TA)
Fortis (FTS)
Emera (EMA)
Enbrdige (ENB)
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: Master isolated images / FreeDigitalPhotos.net
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