Dividend Portfolio Update - March 2015

Dividend Portfolio Value
As at March 31, 2015 my dividend portfolio balance is at $20,246.10, up by about $515 from the previous month. The main increase in portfolio value was caused by the new contribution of $800 to my Tax-Free Savings Account. The stocks pulled back by mid-March as they historically do and now they are back up to their previous highs except for REITs which are still lagging behind. There’s uncertainty in the market about REITs growth as Target and Future Shop are closing in Canada. Half of Future Shop stores will be converted into Best Buy stores. There will be a lot of vacant space coming on stream.
My TFSA consists of 21 Canadian dividend paying stocks. Most of my stocks pay dividends on monthly basis. This allows me to collect dividends and reinvest them into dividend paying stocks quicker. I will pursue my strategy for this year and the next, until I double monthly dividends to $200 per month. Then I will be adding Utilities and Banks to my portfolio.

For the month of March, I received a total of $109.76 in dividends vs $83.23 for the same period a year ago. That's an increase of $22.15 or 32% on year-over-year basis. My total Year-to-Date dividend income for 2015 is $322.82. All dividends are reinvested back into dividend paying stocks.

Dividend increases
EnerCare (ECI.TO) announced a 15.9% dividend increase in March when they released their quarter earnings. The increase should reflect on April payout.

During the month of March, I contributed $800 to my TFSA. My objective for 2015 is to contribute $6,000. So far, the total contribution for 2015 is $2,400. If I continue to put $800 per month, I will reach my contribution objective by August 2015.

Alaris Royalty (AD.TO)

I purchased 26 shares of AD at $32.65 per share. I decided to take advantage of a recent pull back in share price. Alaris Royalty has a 4.53% dividend yield and this purchase will bring additional $3.25 per month in dividend income.