I finally put my money where my mouth is. I’ve been talking about Transcontinental’s stock a LOT!. It started in the summer – It was one of the top stocks that screened in my Summer Stock Screen
I then wrote another article in October about how cheap it was. You can read that post HERE
Lastly, TCL was the stock I chose in RoadMap2Retire’s stock picking contest as well earlier this year. Needless to say – I’ve been thinking about this company for a while.
I actually had a buy order in for TCL on Friday, at a price of 21.03 but it never got filled, so when I saw the price had dipped again this morning, I put in another offer – this time at $20.93 – and it got filled right away!
I purchased 125 shares at a cost of 20.93 (plus commission).
I’ve already written a few times about the company, and why I thought it would be a great addition to my portfolio, so I won’t do a huge write up today. You can click the links above if you want more info. I WILL however, just point out a few things:
While this wouldn’t be considered a huge growth stock by any means, the value seemed too good to pass up. I’ll happily sit and collect a 4% yield while waiting for the price to bounce back.
This purchase of 125 shares will add $105.00 to my annual dividend income, and more importantly, it allows me to DRIP 1 new share each quarter.
Do you own TCL? Let me know what you think of this purchase.
P.S – I was really close to purchasing Andrew Peller instead – and if the price stays low, I expect ADW to be my next purchase.