Welcome to our monthly passive income update for January 2017. This is part of the scorecard series where we track our dividends and other sources of passive income. We also include changes and updates related to our investments during the month – showing the overall progress.

Passive Income Update

Passive income for the month of Jan 2017 was C$651.64. The passive income for the month comprised of US$178.92 and C$417.25 (exchange rate is US$1 = C$1.31).

Passive income change is +9.16% QoQ and -4.00% YoY for the month. The passive income for the month achieves 6.51% of our annual goal of earning $10K.

Income Sources

Passive income contributing entities:

Stocks:

Algonquin Power & Utilities Corp (AQN.TO)

BCE Inc (BCE.TO)

Inter Pipeline Ltd (IPL.TO)

Toronto-Dominion Bank (TD.TO)

Options:

I wrote one covered call contract on Canadian Utilities Ltd (CU.TO)

Funds:

BMO S&P/TSX Capped Composite Index ETF (ZCN.TO)

Vanguard FTSE All World Ex-Canada Index ETF (VXC.TO)

BMO Aggregate Bond Index ETF (ZAG.TO)

Scotia Diversified Monthly Income Fund (mutual fund)

Other:

The breakdown of our passive income contributing entities: dividends & options totaled $223.28 and other passive income totaled $428.36. Read more about why we consider this as passive income in the Passivity Index post.

Portfolio Activity

Dividend Increases

January saw four dividend increase announcements in our portfolio.

Algonquin Power & Utilities Corp (AQN.TO) raised its dividend by 10%

Canadian National Railway (CNR.TO) raised its dividend by 10%

Canadian Utilities Ltd (CU.TO) raised its dividend by 10%

Omega Healthcare Investors Inc (OHI) raised its dividend by 1.64%

Added Positions

During the month, we added the following position to our portfolio

Stocks:

Funds:

BMO S&P/TSX Capped Composite Index ETF (ZCN.TO)

Vanguard FTSE All World Ex-Canada Index ETF (VXC.TO)

BMO Aggregate Bond Index ETF (ZAG.TO)

US Equity & International Equity Index Segregated Funds

Vanguard EM Bond ETF (VWOB)

Reduced Positions

Other

I wrote 1 covered call option contract on Canadian Utilities (CU.TO)

That’s all folks! Hope you had a great January as well. Be sure to share your thoughts, comments or concerns below. I love hearing from you, the readers.

Disclosure: Our full list of holdings is available here.

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