One of my first blog posts was about setting goals for 2017. I also noted that I typically do not set goals, so this would be something a little out of my element. I am happy to report so far I think I’m doing okay (with most of them).
Below are the goals I set – and a quick note of where I am at.
All in all, I’m pretty satisfied with where I am at…just need to step it up and take the wife out a few more times and try and sock away a bit more $$$ before the end of the year!
I’ve been on a roll this week. After no purchases in a couple of months – today I made my 3rd purchase in the last 2 days.
I picked up 268 shares of Chorus Aviation for 8.76. Chorus is one of those reasonably priced, profitable companies with a monthly dividend that yields over 5%. Even better RBC direct investing allows this one to drip – so even though I was only able to sccop up 268 shares I should be Dripping an extra share each month as well.
Chorus recently renewed a deal with Air Canada and although it will result in slightly less revenue per year – it guarantees them solid revenue until 2025. They have also expanded their aircraft leasing side of the business which should start generating more revenue. The dividend looks to be well covered by earnings as well.
I don’t foresee any other purchases for the next couple months (aside from the bi-weekly purchases into my funds). My portfolio now consists of 11 individual stocks -all Canadian and all owned in my TFSA & 5 funds (held in RRSP).
|Alimentation Couche Tard|
|Chorus Aviation INC|
|Intertape Polymer Group|
|Canadian Western Bank|
|US INDEX FUND (RRSP)|
|RBC CANADIAN EQUITY INCOME FUND (RRSP)|
|RBC Global Dividend Growth FUND (RRSP)|
|GWL Advanced ContinuumFUND (RRSP)|
|GWL Aggressive Continuum FUND (RRSP)|
I did a customized stock screen last week where I looked at companies with a history of paying/increasing dividends, strong EPS growth and trading at reasonable P/E. My last post highlighted some of the companies I was torn between and finally today I pulled the trigger on two of them.
Alimentation Couche-Tard (ATD.B)
I’ve had my eye on Couche-Tard for over a year now, and with the recent price pull back – coupled with the fact I had some cash on hand I figured I had to jump in. I scooped up 125 shares @ $59.00 each. Although the dividend only yields 0.61% I think the long term capital growth potential and dividend growth potential will keep me happy for years to come. I am hopeful they will get into the soon to be legal Marijuana business as well.
The addition of these shares will boost my dividend income by $45.00
Intertape Polymer Group (ITP)
This was a stock I didn’t know much about a couple of weeks ago – but it showed up on my stock screen and after doing a bit more research I thought the price was too good to pass up. The business itself is boring, but it has paid and increased the dividend for over 5 years (yields 3.5%)in US dollars, has increased earnings year over year and was trading at a 30% discount to the 52 week high. I purchased 275 shares @ 19.08.
The addition of these shares will boost my dividend income by $192.50 (at current exchange rate).
Both purchases were made in our TFSA so all gains & dividends will be tax free.
I am still keeping my eye on Andrew Peller & Exco Technologies. Hopefully the next time I have some cash on the sideline they are in my buy range.
It feels like forever since I’ve been in a position to make a purchase. The house sale has officially closed, funds have been transferred, and I have a bit of cash to play around with in one of the TFSA Accounts.
I’ve spent the last couple days narrowing down my potential buy(s).
These are the stocks that have caught my eye:
XTC – Exco Technologies
ADW.A- Andrew Peller
ATD.B – Alimentation Couche Tard
ITP – Intertape Polymer
CAL -Caledonia Mining
Just a couple notes:
I’ve had my eye on Andrew Peller,Couche Tard & Exco for some time – they seem to finally be trading at reasonable prices.
I already own some Caledonia, and have been looking for point to increase my position.
I do not know much about ITP – however they kept showing up in my stock screen, so thought I’d dig a bit more into them.
My stocks are purchased via RBC direct investing. Not all stocks are eligible to be dripped via RBC. Of the 5 listed above only ATD.B is eligible to DRIP which is fairly annoying.
If you have any thoughts about any of the stocks listed above – I’d love to hear.