Dividend Portfolio

Our goal for our dividend portfolio is to create sufficient dividend income to cover our annual expenses. I hope to show that it is indeed possible to achieve financial independence through dividend portfolio. Below is our dividend portfolio. We hold dividend paying stocks in RRSPs, TFSAs and regular accounts. All REITs and income trusts are held in TFSAs for tax efficiency purposes. All US stocks and ADRs are held in RRSPs to take advantage of the tax treaty between Canada and USA.

Please note: All content posted on this blog represents my personal opinions and views and should never be considered as professional advice. I am not a financial professional, and I can buy, sell, or hold any investment at anytime.

The dividend stocks that we own fall into the following categories:

  1. Dividend growers. These are companies that have increased dividend year after year. Some of the companies on the list have increased their dividends for over 20 years. The yearly dividend increase is significant because this is a way to keep up with inflation.
  2. High income stocks. These are companies that pay over 5% dividend yield. Most of them have slower dividend growth than dividend growers.

For those positions that the dividend received is enough to purchase addition share(s), we enroll in synthetic DRIP to maximize the power of compound interest.

Our dividend stock portfolio

We are currently investing in 67 companies and 2 index ETF.


Dividend FAQ

Q1. I want to start investing in dividend stocks. How do I get starts?

A1: You can take a look at this guide on how to start investing in dividend stocks. Here I explained a few scenarios on how to get started. 


Q2. I feel that the stock market is overvalued. Should I sell now, take in some profit, and buy in later?

A2: Perhaps this post on should I sell some stocks now and wait for market correction will help you making a decision. 


Q3: Can you explain how to be tax efficient as a Canadian dividend stock investor? Do you have any tips for Canadian investors?

A3: Sure, take a look at my dividend approach and how we are trying to be as tax efficient as possible. Here are a few tips for Canadian investors.


Q4: I want to create an excel sheet to track my portfolio. How do I do that?

A4: Here’s a step-by-step guide on how to create a dividend portfolio spreadsheet. If you are doing index investing you might want to take a look at the ETF spreadsheet guide. Enjoy!


Q5: How did you get started with dividend investing?

A5: I learned about dividend investing by accident. 🙂


Q6: Which discount broker do you recommend?

A6: We use Questrade and TD Waterhouse. I highly recommend Questrade, here’s why. If you want a referral code for Questrade, please contact me. 


  • Reply
    Weekend Reading | Tawan
    July 25, 2014 at 10:17 am

    […] Dividend Portfolio […]

  • Reply
    September 7, 2014 at 10:52 am

    I see you have been investing for a while now and holding a very nice looking portfolio. I see quite a few similar names I am invested in, so glad to have a as a fellow shareholder to these great businesses.

    Keep up the good work.

  • Reply
    Dividend Road
    October 6, 2014 at 10:46 am

    It’s great to see other people out there holding the same companies. It goes to show that investing for the long term in quality companies just plain works.

    Look forward to your progress!

  • Reply
    Financial Forager
    January 31, 2015 at 7:39 am

    You have built a nice diversified dividend portfolio. Looks like you are well on you way. We both share the same interests for the outdoors. I am a avid forager, hiker and snowshoer. I have been building up my dividend portfolio and investments slowly over time. Thanks for sharing your portfolio and keep up the good work.

  • Reply
    Dividend Gremlin
    February 3, 2015 at 2:33 pm


    Your portfolio is really kicking. The sheer quantity is outstanding, I cannot wait until I am there one day. I like how you differentiate out some of the Canadian stocks, because as the ticker symbols seem to cross nationals differently.

    Nice to see a few stocks I have there as well.

    Keep it up,
    Dividend Gremlin

  • Reply
    My Own Advisor
    February 7, 2015 at 5:41 am

    Got 27 companies in your list 🙂

    Good diversification in your portfolio. I will be looking to buy some British ADRs in my USD $$ TFSA next year.

  • Reply
    March 5, 2015 at 9:02 am

    Impressive list! Are the US stocks in an RSP? If not, how do you justify paying the 15% withholding tax on dividends in a non-registered account? Is it worth it? Thanks.

    • Reply
      March 5, 2015 at 11:10 am

      Hi Helen,

      All the US stocks in our portfolio are held in the RRSP. We do not want to pay the 15% withholding tax on dividends.

  • Reply
    March 6, 2015 at 11:49 am

    Hi: Do you use the Canadian Dividend All-Star List as an information source to select which DGI stocks to buy? Or, some other source? Some stocks appear to have a pretty ;low yield, such as Saputo, CNR, and even Apple, so I wonder why you chose these stocks. Thanks.

    • Reply
      March 6, 2015 at 6:01 pm

      Hi Hlen,

      We use Canadian Dividend All-Star list for DGI stocks selection but we also look at other sources like what we use on a daily basis. We also. Saputo, CNR, and Apple do have low yields but they have amazing dividend growth history. High yield isn’t everything. We aim to have a balance of high yield stocks and high dividend growth stocks in our portfolio. Hope this helps.

  • Reply
    April 29, 2015 at 2:45 pm

    Great portfolio Tawcan. I like your strategy and I’ll most probably mimic it partly. You’re pretty heavy on current income / slow grower in your TFSA for tax efficiency. That’s my plan too. I’ll most probably hold a mix of banking stocks, high yield stocks and reits in my TFSA until I max it out and then I guess I’ll diversify it with lower yielders but higher growth stocks. It seems to be the best tax efficient and balanced strategy I’ve found yet for that account. The ARCP mess has slowed down my appetite for REITs though and I really wonder what will be the impact of higher mortgage rates in the future. I guess that time will tell and lets celebrate the fact that the government doubled our maximal authorized contribution to this account. It’s going to help us get tax free income from our stocks! 🙂
    best regards,

  • Reply
    Butterfly Millionaire
    July 2, 2015 at 1:43 am

    That’s a huge list of strong companies! For me, it would be too much, as I like to sell options on my holdings. For that strategy it is better to have few stocks, but many.

    I also think more European companies would be a great fit! Keep on investing! 🙂

  • Reply
    August 16, 2015 at 9:06 am

    Hi Tawcan, Very strong portfolio. I noticed the above share price are all upto date with current market value. I’ve an excel spreadsheet where i have list of stocks i own, my cost price, no of shares etc however i don’t have the column that shows up to date market value for each individual stocks. Is it possible to automatically reflect daily market value on the excel spreadsheet or I have to have an online blog or website in order to reflect daily price of each stocks? can you please give me some information

  • Reply
    August 17, 2015 at 6:33 pm

    Thanks a lot Tawcan. I’ll go over it. It looks very helpful. Thank you!

  • Reply
    Dividend Freedom
    August 20, 2015 at 12:02 am

    Your portfolio is great, well deversified and you are way ahead of me 🙂

    Take care!
    Dividend Freedom

  • Reply
    Interview with Tawcan - Dividend Diplomats
    November 15, 2015 at 6:00 am

    […] it’s tough not to like Royal Bank. This is why Royal Bank is one of our core holdings in our dividend portfolio. (adsbygoogle = window.adsbygoogle || […]

  • Reply
    Team CF
    November 25, 2015 at 12:08 am

    Hello Tawcan,

    out of curiosity, what’s your current average yield based on book value? Should be pretty high by now. Would be cool to see how that compares to the current yield based on market value. Since you have been investing for a while (and thus would have purchased at relatively low book values + had increasing dividends), we are curious to see how this has developed over time. Maybe an idea for a future post (hint hint!)?

  • Reply
    10 Questions with Tawcan - 1500 Days to Freedom1500 Days to Freedom
    January 1, 2016 at 9:23 am

    […] In our household, we track all of our finances and investments on spreadsheets. For our dividend portfolio, I utilize Google Spreadsheet so it’s easily accessible. I love that fact that I’m not tied to […]

  • Reply
    Freedom Fighter Interview #22 - Tawcan - Gen Y Finance Guy
    February 22, 2016 at 3:00 am

    […] freedom journey so we’re saving money to build our investing portfolio. We invest mostly in dividend stocks. Our goal is to have our dividend income exceeding our expenses. When that happens, we can say that […]

  • Reply
    April 22, 2016 at 4:45 am

    I think your dividend portfolio is quite impressive for me.
    BTW, could I kindly ask the magic formula for “Div $” and “Yield %” in google spreadsheet?
    Thank you in advance.


  • Reply
    May 18, 2016 at 5:55 am

    What are the holding weights?

    • Reply
      May 18, 2016 at 12:01 pm

      I currently do not share this info but may in the near future.

  • Reply
    Xyz from Financial Path.
    June 14, 2016 at 7:45 am

    Great portfolio, good job.

  • Reply
    Jay @ the expat investor
    August 19, 2016 at 8:58 pm

    Nice portfolio, keep up the good work.

  • Reply
    January 3, 2017 at 11:20 am

    Something wonky with HLF in your portfolio listing.

  • Reply
    Zeeshan Shaikh
    January 30, 2017 at 2:25 pm

    You mentioned that you buy Canadian Dividend paying stocks in TFSA and US stocks in RSP.
    But i also see many US listed companies in your portfolio above . . . e.g Apple.

    • Reply
      January 30, 2017 at 3:21 pm

      Right, these US stocks are held in our RRSP.

      The portfolio are all the dividend stocks that we hold.

  • Reply
    February 11, 2017 at 11:50 am

    How many stocks did you start with? What would be a decent amount to start with in each? When younhave more money to invest, how do you decide between adding to what you own already or buy something else? Do you rebalance based on sector weight? Under what circumstance do you consider selling a position? You might have answered these questions already but I just found your blog ….thanks!

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