Enbridge – Me love you long time.
Well I mentioned in my previous post that I was going to keep an eye on a couple stocks for a nice dip to pounce on and make a buy. My boy Leo posted on my comments that Enbridge was under 50$ the other day. At first I didn’t believe him since I was on break checking my website. A couple clicks later and yeah he was right, My favorite company was now under 50$.
Naturally I got really excited, but the wife wasn’t around to help me out =)
So I did the 2nd best thing. I backed the truck up. At that price $49.82 it now offered a 4.9% yield. I consider Enbridge to be a rock solid core holding in any Canadian dividend portfolio. We decided to purchase 100 shares in the wifes TFSA as well as another 100 in my sons RESP.
I always recall Motley Fool talking about how Long-term holders of the stock have done very well. In fact, a $10,000 investment in Enbridge 20 years ago would be worth about $303,000 today with the dividends reinvested.
Obviously past results don’t guarantee future returns but I think its safe to say this is a great purchase. I have written more about Enbrige on my past purchases. Feel free to read that article.
I love me some Enbridge
Now my total investment in Enbridge trumps everything in my account. It is definitely a little oversized but I feel their track record of past dividend payouts and dividend growth make it worth while. After that spectra energy deal too, they are a Juggernaut in the energy industry.
This purchase has also propelled my forward yearly dividends from $1850 to over $2300. Hitting another milestone I had set for myself. I can’t state this enough this investing / blogging community is making me better. Remember I only brought in just over 500$ in dividends in all of 2016, Thanks again
There’s still gas in the tank, here’s hoping we see another nice pullback in the market.
Hey I’m Rob, creator of Passive Canadian Income.
In 2011 me and my wife had almost $60,000 in debt and a negative $7,000 Net Worth. Through hard work and financial education we paid all that off. Now we are focusing on increasing our Passive Income Streams to make the money work for us. Feel Free to Follow along the Journey by clicking the Social Media links below or subscribing to get notified of new posts on the sidebar.