A Review of Our Total Dividend Stocks Portfolio

At the earliest stage of our dividend investing career, we owned around 6 -13 dividend stocks. Majority of our holdings were monthly dividend paying stocks, with good reason as it is a lot easier to monitor and track down regularly. While, majority of them were doing well, however, we were fully aware we were not well-diversified.

As early as 2019 and prior to the COVID pandemic in March 2020 – stock market correction, we started making some changes and added new positions to diversify our portfolio. Consequently, while it was not too late, unfortunately some of those monthly dividend paying companies in our portfolio have struggled – eventually leading to either cutting or suspending their dividends.

Despite the massive drop in our portfolio, we did not panic.  Instead, we continue to add new dividend growth stocks to our portfolio during the March 2020  correction and throughout the year. The stock market has slowly recovered throughout 2020 and is the same with our dividend portfolio. It would have been a fatal mistake if we sold our holdings and converted it to cash.


US Dividend Stocks

  1. Apple Inc (AAPL)
  2. Abbvie Inc (ABBV)
  3. Kroger Co (KR)
  4. McDonald’s Corp. (MCD)
  5. Microsoft Corporation (MSFT)
  6. Pfizer (PFE)
  7. Procter & Gamble (PG)
  8. Costco Wholesale (COST)
  9. Home Depot Inc. (HD)
  10. Waste Management (WM)
  11. Lockheed Martin Corp (LMT)
  12. United Health Group (UNH)
  13. Visa (V)


Canadian Dividend Stocks

  1. Alimentation Couche-Tard (ATD)
  2. BCE Inc (BCE)
  3. Brookfield Asset Management Ltd. (BAM.TO)
  4. Brookfield Corporation (BN.TO)
  5. Brookfield Renewable Partners L.P. (BEP.UN)
  6. Brookfield Infrastructure Partners (BIP.UN)
  7. Bank of Montreal (BMO)
  8. Bank of Nova Scotia (BNS)
  9. Canadian Imperial Bank of Commerce (CM)
  10. Canadian National Railway Co (CNR)
  11. Canadian Natural Resources (CNQ)
  12. Canadian Pacific Railway Ltd (CP)
  13. CT REIT (CRT.UN)
  14. Exchange Income Corporation (EIF)
  15. Enbridge Inc. (ENB)
  16. Equitable Group (EQB)
  17. Fortis Inc. (FTS)
  18. Freehold Royalties Ltd. (FRU)
  19. Intact Financial (IFC)
  20. Loblaw Companies (L)
  21. National Bank of Canada (NA)
  22. Royal Bank of Canada (RY)
  23. Slate Groceries REIT (SGR.UN)
  24. SmartCentres REIT (SRU)
  25. Suncor Energy Inc. (SU)
  26. Telus Corporation (T)
  27. TFI International (TFII)
  28. Toronto-Dominion Bank (TD)
  29. TC Energy Corporation (TRP)
  30. Tourmaline Oil (TOU)
  31. Waste Connection (WCN)
  32. Whitecap Resources Inc. (WCP)


Exchange Traded Funds (ETF)

  1. Vanguard FTSE ex North America (VIU.TO)
  2. US Total Market (XUU.TO)
  3. iShares Core Equity ETF Portfolio (XEQT.TO)


Our Strategy is Keeping it Simple

  • Pay Yourself First (Dollar Cost Averaging) – We allocate a certain % of our salary directly to our investment account automatically every paycheck. We don’t listen to the noise or whatever the market is doing.
  • Buy and Hold. Another way increasing our passive income is through organic dividend growth – Blue chips and even small cap companies that have proven to increase dividend payouts annually.
  • Reinvesting all of our dividends regularly. We don’t participate in a DRIP and we prefer cash distribution to be reinvested in our holdings which we deemed undervalued.

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My Final Thoughts

As a dividend growth investor, we continue to evolve and learn from past mistakes and will continue to make some adjustments as necessary. For this reason, we may continue to add or reduce our portfolio if it no longer meets our criteria. Additionally, we are building a portfolio that we will hold and keep for life. Please refer to this link for our total TFSA holdings and my live non-registered DGI performance.

Finally, our ultimate goal is to live off passive income from our dividends without harvesting the capital. Additionally, whatever other sources of income during retirement such as defined benefit pension plan, Canada Pension Plan (CPP), Old Age Security (OAS) will be such a huge bonus and icing on the cake. However, it is something that we will not solely rely on, as these are sources of income, guaranteed it may seem but are beyond our control.


DISCLAIMER: Everything I have shared in my blog is wholly related to my personal experience. It is for entertainment and educational purposes only and should not be construed as advice.

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Shane Stewart
S. Stewart
2 years ago

I found your motivation for investing in your future echoed my thoughts. I also believe one should not solely rely on pension plans, Canada Pension Plan (CPP), Old Age Security (OAS) but rather consider them as the gravy or top-up.

Through your blog I have changed my mindset to be more along the lines that it will be my passive income that will ensure financial security through my retirement years.


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