Let's take a look at what I did with my investing money :
I have expressed many times on this blog my love for trains. I own both Canadian Pacific (CP) and Canadian National Railways (CNR).
These companies have both been affected by the Market dips recently. It was a great time to get my hands on usually expensive shares of CNR. I already own CP and I won't add new shares until they start growing their dividend a little bit. It seems like they need their money right now to buy Norfolk. Will see how this goes. It's like a snake trying to eat an elephant... For now, I concentrated my time and energy on buying some more of CNR, its main competitor in Canada.
On January 26, Canadian National Railway raised its quaterly dividend to 0.375$. It represented a 20% increase. The dividend yield is still low at a little less than 2%, but the management team have been quite constant in their dividend raises. I am confident they will keep doing so in the future.
- So, I have recently added 10 shares of CNR at 66.98% for a total of 669.80$ . This adds 11.50$ in dividend to my passive income. I now hold 70 shares of Canadian National Railway and I'd like to hold a 100 shares. So this stock remains on my target list. Unfortunately, I wasn't able to buy some more because that's all the money I had in this particular account. Hence the small buy.
- I also bought some Bank of Nova Scotia. (again) How much of something good can you have? I guess a lot. I bought 19 shares at 53.55$ for a total of 1017.45$ This adds 43.20$ in dividend to my passive income. I now hold 170 shares of BNS and it's now my biggest financial holding with a weight of almost 6% in my entire portfolio.
- Finally, I bought shares of Alimentation Couche-Tard (ATD.B) twice. I bought 40 shares at a price average-cost of 56.83$ This adds 10.80$ in dividend to my passive income. I know this stock is not a dividend growth stock like most ones I hold and it's not very popular among the DGI community either. My take on this one is simple : would you rather get on the wagon now, while the dividend is low and the stock price affordable, or when the dividend is fat but the stock price is way too high? I have big hopes in this winner.
So that's it for now. Let me just tell you what I have in mind if Mr. Market keeps going down:
- I have my eyes on buying yet again either some more Power Corporation or Power Financial (POW and PWF). If one of them goes below more that 5% of my cost-average price of respectively 26$ and 30$ I will move. I will say it once again : these stocks are super cheap.
- CNR is still on my radar. If it goes below 70$ I will be extremely tempted.
- I am thinking about selling my TransCanada Corp (TRP) shares to buy some more Endbridge (ENB). Same with my Jean-Coutu shares (PJC.A). Will see how it goes. I would like to own no more than 20 stocks.
What do you think about my buys and my immediate plans? I would like to hear about you guys.