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Passive Income Update – Jun 2016

Welcome to our monthly passive income update for June 2016. 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 growth of our dividends going forward.

Passive Income  Update

Passive income for the month of June 2016 was C$1,151.07 — an all time high and crossing into the magical four digits for the very first time!!! 🙂 A big reason for reaching that number was thanks to writing a covered call option on my IAMGold position. The passive income for the month comprised of US$455.02 and C$559.54 (exchange rate is US$1 = C$1.30).
Monthly Passive Income - Jun 2016
Passive income change is 33.5% QoQ and 67% YoY for the month. The passive income YTD is $4,572.38, which achieves 50.8% of our annual goal of earning $9K.

Even though this was a spectacular result, and my passive income mid-year is right at the 50% mark, I will most likely fail to reach my goal of $9K for the year. As most regular readers are aware, I sold off a big part of our portfolio which drops our forward dividend income. Dividend income plays a big part in our overall passive income sources. I am personally ok with failing to reach this goal for the year, as I wanted to take some money off the table for the reasons mentioned in the article.
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Passive income contributing entities:

  • Archer Daniels Midland (ADM)
  • Amgen Inc (AMGN)
  • Brookfield Infrastructure Partners LP (BIP.UN.TO)
  • Canadian National Railway (CNR.TO)
  • Canadian Utilities Ltd (CU.TO)
  • Cineplex Inc (CGX.TO)
  • Inter Pipeline Ltd (IPL.TO)
  • Johnson & Johnson (JNJ)
  • Magna International (MG.TO)
  • Main Street Capital (MAIN)
  • Power Corp of Canada (POW.TO)
  • Qualcomm Inc (QCOM)
  • Realty Income Corp (O)
  • Thomson Reuters (TRI.TO)
  • Ventas Inc (VTR)
  • Wells Fargo & Co (WFC)
  • I wrote 7 covered call options on IAMGold (IMG.TO). Strike price: C$6.00
    • On a massive rally the day after Brexit vote, I decided to write covered call options on this security as I don’t mind selling it. I am looking to upgrade in terms of quality of my gold mining holding.
  • BMO Aggregate Bond Index ETF (ZAG.TO)
  • Scotia Diversified Monthly Income Fund (mutual fund)
  • Vanguard FTSE All-World Ex-Canada Index ETF (VXC.TO)
The breakdown of our passive income contributing entities: dividends and options premium totaled $760.33 and other passive income totaled $390.74. Read more about why we consider this as passive income in the Passivity Index post.

Portfolio Update

Dividend Increases

June saw dividend increase announcement from the following in our current holdings.
  • Realty Income Corp (O) announced a 0.25% raise

Added Positions

  • I initiated a small speculative play position in Critical Elements Corp (CRE.V)

Closed Positions

Following positions were closed. Details of why I chose to close these positions are detailed in this post here.
  • Apple Inc (AAPL)
  • Agrium Inc (AGU.TO)
  • Amgen Inc (AMGN)
  • AT&T (T)
  • Cineplex Inc (CGX.TO)
  • General Electric (GE)
  • Main Street Capital (MAIN)
  • Thomson Reuters (TRI.TO)
  • Wells Fargo & Co (WFC)
That’s all folks! Hope you had a great June as well. Be sure to share your thoughts, comments or concerns below. I love hearing from the readers.

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