Gotta Get That Drip – New Buy
Gotta Get That Drip – New Buy
Hey, Hey, Hey.
The market really seems to be getting interesting this year with some pretty big daily movements happening. One day I’m down a grand and kinda happy hoping it will drop more and then next day I check it out and I’m up a thousand. Dammm… Clearly the market works in weird ways, when all these trade tariff’s keep getting thrown around left right and center but the market really doesn’t care.
As some of you know, I love dripping my stocks. Sure there is advantages and disadvantages of Drips. But ultimately they make it super simple. You like the company and its in your portfolio so why not keep adding to it? The stock is high id never buy at this price, you say. Meanwhile the stock just keeps running up and every time you get that dividend Bam! more shares.
Drips make me want a market drop. Look at Corus Entertainment for example. This stock has dropped almost 50% since the start of the year. The dividend yield was sitting round 19%. That dividend got to get cut everyone says. Radio and Tv are dead….. ( I like the stock for the record, I don’t think radio and tv are dead) Anyways I used to drip one share a month before but since the pullback I was dripping 3 shares! Today they destroyed analysts expectations and the stock popped up 21%. The drips eliminated the mental part of investing. It just bought them!
Ewww does that stock even drip?
Now some stocks don’t even offer drips. Its a shame but it is what it is. Some of the stocks I hold do offer drips but my position in them is too low. Inside it drives me a little crazy. I want that drip, give me that drip. I will be working at beefing up these positions this year to get it. Right now with the wife on mat leave, it doesn’t make sense for rrsp contributions. I plan on making a lot more than I currently do in the next 5 years, so I will keep that contribution room for then. So the focus will be on Canadian stocks and trying to top off our remaining tfsa room.
Yesterday I purchased 29 additional shares of Emera at a couple cents over 41 bucks. This was 2% cheaper than my previous buy of Emera on February 20th. I wont get into the details to much about Emera, click the link to learn about the company. Our yield on cost this time was 5.52% and will bring an additional $65.54 in yearly dividends for us. The ex dividend is at the end of the month and we will receive our dividends next month. We now have a total of 90 shares of Emera and will easily drip the stock at the current price. Emera offers a 5% discount on drips, which I will gladly take!
I wanted to buy Emera before the end of this month. Today I was reading Motley Fool, it mentioned how insiders of Emera have been scooping up shares between the 40-42 dollar range. You got to love hearing that, so naturally I had to buy. This creates another stock in the portfolio that will now drip and boosts my income on my worst dividend months. I’m looking forward to seeing Mays results since I have started a position in Proctor & Gamble and Emera since February. I have a feeling these may not be my worst months anymore!
Have a fantastic weekend everyone.
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.