Passive Income Update – Apr 2020

Welcome to our monthly passive income update for Apr 2020. 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 Apr 2020 was CAD$893.87, which comprised of US$190.83 and CAD$626.71 (exchange rate is US$1 = CAD$1.40).

The change for the month is 7.34% QoQ and 3.02% YoY. This brings our passive income YTD to $4,197.52 and achieves 41.9% of our annual goal of earning $10K.

Income Sources

Passive income contributing entities:


  • Algonquin Power & Utilities Corp (AQN.TO)
  • BCE Inc (BCE.TO)
  • Constellation Software Inc (CSU.TO)
  • Kirkland Lake Gold (KL.TO)


  • BMO Aggregate Bond Index ETF (ZAG.TO)
  • BMO EM CAD Hedged Bond ETF (ZEF.TO)
  • Scotia Diversified Monthly Income Fund (mutual fund)


  • Advertising revenue from this blog
  • Interest on cash
  • Cashback credit card

Portfolio Activity

Added Positions

During the month, we re-initiated/added the following position to our portfolio



  • Scotia Diversified Monthly Income Fund (mutual fund) *DRIP*
  • US Equity & International Equity Index Funds
  • iShares Growth ETF Portfolio (XGRO.TO)

Closed Positions

I closed position in

  • Canadian Utilities (CU.TO)

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

Disclosure: Our full list of holdings is available here.

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2 thoughts on “Passive Income Update – Apr 2020

  1. Congrats on a solid month. This is my first time here. I love your profit growth. In April I only earned $4.33 in dividends. I’m starting over with dividend investing, so I have a long way to go. I look forward to seeing how much dividends you will receive in May.

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