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.