Beefing up a Position – bce stock

Beefing up a Position – bce stock

Hey everyone

Hope you all have been enjoying September. Time continues to fly by and the weather continues to fluctuate consistently. Not much has changed.

Anyways I thought I would update you with our latest addition to the portfolio. Last week I created our watch list for the month which included Bce stock, Suncor, JNJ, LyB and finally disney.

Well the market continued to do its thing and all those stocks are now a little more expensive…. Fun, Fun.

Anyways based on the picture you probably know which stock I decided to go with. Incredibly boring, I know.

BCE – Bell Canada

We decided to keep working on our position in Bell Canada in our kids Resp account. The government matched our previous contribution by 20% and with their ex dividend date quickly approaching it was time to put that cash to work. Also with the end of 2019 near we need to max this account asap.

After watching the stock hit new 52 week highs last week and hoping it would pullback Monday it did a bit. We added 24 additional bce stock at 63.50 per share. Unfortunately this is the most we have paid for their shares to date but we feel Bell will continue to be around for a long time. In 15 plus years I think with the power of compounding we won’t regret this decision.

This purchase adds $19.02‬ per quarter or $76.08 each year.

In total we now own 64 shares which bring in $202.88 of dividends yearly and covers just under 4 monthly cell phone bills. A nice chunk of change, but we need to add some more shares to get this one to drip and let the compounding really do it thing.

Conclusion

A quick short post. Not a new position and I have talked about them before. Investing can get really boring sometimes. The longer I invest the more I realize that’s the way I like it. Add to solid blue chips (or as Dale calls them moaty stocks), ignore the noise and accumulate their dividends.

Dividend Portfolio has been updated.

What do you think of this purchase and what stocks have you been buying or thinking of purchasing?

As always, Have a great day

Cheers!

Rob

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.