October 2023 Dividend Income Update

calendar Nov 16, 2023 · 3 min read · Dividend Income Update
Photo by Micheile Henderson on Unsplash

Last month, I wrote that September is historically the worst month for the stock market. But if you thought September 2023 was bad, October said “hold my beer”. War in the Middle East drove oil prices up, talks about a recession coming back, uncertainty about growth in big tech, etc. each contributed. But with central banks holding interest rates steady, tech companies showing growth, stock prices are on the rise again. The market has rallied recently in November thanks to a lower inflation rate and an interest rate pause by the US Federal Reserve. Investors believe that we won’t see higher rates going forward.

I usually enjoy the month of October as the air is cool and crisp and the leaves are changing color. But I also noticed the shorter days and lack of sunlight. I’m feeling more tired. It might be time for a sunny escape.

In October, I received a total of $2,913 in dividends and interest. I earned a cumulative passive income of $35,247 this year. For comparison, I earned a cumulative passive income of $24,685 this time last year. At the end of 2022, I earned $31,566 in passive income. Of the dividends received this month, $2,443 was earned in my taxable account.

As a reminder, I convert any USD amount to CAD using the month-end exchange rate published by the Bank of Canada. For October 2023, I used an exchange rate of 1.3871.

Account Income
Cash $1,168
Margin $1,275
Retirement $470
Total $2,913


I received dividends from the following stocks and ETFs in October:

  • BCE Inc (BCE.TO)
  • Broadridge Financial Solutions Inc (BR)
  • CT Real Estate Investment Trust (CRT.UN.TO)
  • Global X High Interest Savings ETF (CASH.TO)
  • Granite Real Estate Investment Trust (GRT.UN.TO)
  • Medtronic PLC (MDT)
  • Methanex Corp (MX.TO)
  • Nutrien Ltd (NTR.TO)
  • Realty Income Corp (O)
  • Telus Corp (T.TO)
  • Vanguard Short-Term Bond Index ETF (BSV)
  • WisdomTree Floating Rate Treasury Fund (USFR)

I purchased shares of the following stocks and ETFs in October:

  • Brookfield Renewable Corp (BEPC.TO)
  • Canadian National Railway (CNR.TO)
  • iShares Balanced Growth Core Index ETF (XGRO.TO)
  • Vanguard FTSE All-World ex-US ETF (VEU)
  • Vanguard Total Stock Market ETF (VTI)

I sold shares of the following stocks and ETFs in October:

  • Medtronic PLC (MDT)
  • Methanex Corp (MX.TO)

After a down month in September, I decided that it was time to start buying again. I contributed to my usual ETFs. I also purchased shares of Brookfield Renewable Corp (BEPC.TO) and Canadian National Railway (CNR.TO) since they were down quite a bit. I’ve been eyeing CNR.TO for the longest time and after doing some research, I thought the entry price was worth it.

I also sold shares of companies that I either don’t follow anymore or where I thought there was limited growth.

How did your month go? Did you buy or sell any stocks or ETFs?

Dividend Income