Thursday, March 12, 2015

Recent Stock Purchase ($BNS)

Yesterday (March 11th) I have made one purchase. It doesn't happen too much nowadays. I consolidated a position I have in the Financial Sector Allocation of my Portfolio.

I know I recently said this particular sector of my Portfolio was pretty much full, but I couldn't help adding more shares to a recent position initiated. 

I have bought 15 shares of Bank of Nova Scotia (BNS.TO), at 62.60$ a share, for a total cost of 939.00$. 

I now own 40 shares of Bank of Nova Scotia. My share average cost basis is 62.74$. 

The new 15 shares add 40.80$ to my Dividends Passive Income

My total dividends for Bank of Nova Scotia is up by 40% at 108.80$. 

My forward 12 month dividends now stands at 2 970.64$.

The share of Bank of Nova Scotia is down more than 15% from its year high.

Like I was saying in another post, part of my strategy -- aside from taking into accounts the ratios (PE, EPS, etc.), dividend history and all that -- consist of buying stocks I already own. (I now own 17 companies)

I will therefore have to wait  for a price fallout of at least 10% compare to the stock highest price of the year. (Check out my strategy here). Hence the buy yesterday. 

(Also, I have to mention that I now own more shares than my girlfriend, which is very important!)


What do you think of my recent purchase? Are you interested in buying Bank of Nova Scotia (BNS) yourself?

Full disclosure : I am long BNS.

10 comments:

  1. Great purchase price, MD. Like we discussed on Twitter yesterday, I would love to buy at these levels. I wish I had more cash in my TFSA account where I hold BNS to add more. Maybe in a week or two, if the prices are still depressed I will add to my BNS position.

    R2R

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  2. Yeah, I totally understand. I wouldn't be surprised if you could add some more at a price below 60$. Time will tell. I will also add some more if it drops again. I could own a 100 shares easily! Thanks again for the support.

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  3. Like the BNS buy.I have been adding to my Canadian banks in recent months as they all got hammered from their summertime highs following oil down, down, down. I also am adding to my TD and RY as well.

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  4. Hello DH. You can't go wrong with the Big 6 Canadian Banks. And BNS, TD and RY are probably the best three out of them. Thanks for coming DH.

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  5. I think this is a solid buy. We already own BNS and plan to add more in the future so we can DRIP more shares. Already own all 6 of the big 6. :)

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  6. Tawcan! You are a machine! All the Big Six! When you say "we" you imply your wife? You guys are doing great. Personally, I will stick with BNS and RY. I don't need all of them. I guess that's where my strategy is a bit different than most of the bloggers around here. I don't want to hold too many companies. 20 will be more than enough (and probably too much). Thanks for coming. ;-)

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  7. I like BNS - in fact the Canadian banking sector is very well respected over here in the UK. I noticed that Jason (Dividend Mantra) also bought BNS recently.

    Well done

    CHEERS

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  8. Hello There Value,

    Grad to have fellow brit visiting my blog. I lived in the UK for a year and I loved it. Still miss it. I guess this is also why I'm writing to you in English. I once was a Barclay customer! ;-)

    Yeah, I saw that Jason bought some BNS too. Buy when the stock is down, right?

    Taker care "mate".

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  9. stocks should be like steaks - you buy them mostly when they're on sale

    Cheers!

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  10. Ha ha ha, yes indeed. I guess like a lot of the stuff we buy at the groceries. ;-)

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Thanks a lot for your comment.