I just made my second stock buy of 2019. Instead of initiating a new position, I added to an existing one. I had recently received $500 as a reward from my RBC VISA reward program, which was deposited into my TFSA, so I thought I should put the money to work right away.
I purchased 310 shares of Western Forest Products at a price of $1.835. This brings my total share count to 1881 and brings my average price down to exactly $1.836!
This will add an additional $27.90 to my annual dividend income and allow me to drip an additional 3-4 shares per quarter depending on the stock price. I am now on pace to DRIP 92 shares per year (and rising with each additional DRIP).
I’ve talked about Western Forest many times, so I wont go into to many details again. It essentially boiled down to a few things.
This purchase brings my forward annual dividend income up to $6546.60*
*About half my portfolio is currently in funds that do not pay any distributions or dividends. You can view the full portfolio HERE