Tuesday, August 14, 2018

Recent Buy

You walk down the frozen section of any supermarket you will likely see High Liner Foods products under the High Liner Brand or another brand.

High Liner Foods is in the business of frozen fish products in the grocery story and provide fish products to restaurants. One of the most successful businesses in the world is McDonald's. High Liner Foods provides the fish burgers to McDonald's for the Filet-O-Fish sandwiches. 


High Liner Foods reported there earnings in the morning on August 14.
 

The President and CEO, Rod Hepponstall, has this to say:

"The Company's financial results for the second quarter of 2018 reflect continued challenges in the business related to soft sales volume, a shift in product mix from higher margin value-added products to lower margin commodity products, raw material cost increases not fully passed along to customers and inefficiencies in our supply chain.  The impact of these challenges in the second quarter was most acute in our U.S. business."

Second quarter (ending June 30 2018) Highlights ( all numbers in USD unless noted).
 

  • Sales increased $12.9 million to $245.3 million of Q2 2018 compared to $232.4 million in Q2 2017
  • Gross profit increased by $5.5 million to $43.3 million in Q2 2018 compared to $37.8 million in Q2 2017
  • Net income increased by $2.2 million to $2.8 milliion in Q2 2018 compared to $0.6 million in Q2 2017 and diluted EPS increased to $0.08 in Q2 2018 compared to $0.02 in Q2 2017
  • Adjusted Net Income decreased by $2.3 million to $3.8 million in Q2 2018 compared to $6.1 million in Q2 2017. Adjusted Diluteed EPS decreased to $0.11 in Q2 2018 compared to $0.19 in Q2 2017.
  • Canadian-Equivalent Adjusted Diluted EPS decreased to CAD $0.14 in Q2 2018 compared to CAD #0.26 in Q2 2017
  • The net interest-bearing debt to rolling 12 month adjusted EBITDA was 5.6x at June 30, 2018, which is roughly the same on end fiscal 2017.

High Liner Foods trades on the Toronto Stock Exchange under ticker symbol HLF.TO. The company is headquartered in Lunenberg, Nova Scotia.
 

High Liner Foods reports its earnings in US dollars approximately 75% of sales are in the US.
 

The CEO says the company is in the process of re-structuring to make the company operate more efficient. This will be a huge positive going forward, so the stock price should rebound in the next 12 months.

Warren Buffett says, "Be greedy when others are fearful, and fearful when others are greedy".
 

Prior today I owned 200 shares of HLF.TO at an adjusted cost base of $16.06 per share. After earnings the share price fell about 15% which led me to place a limit order. My bought 90 shares at $7.70 for a total cost of $698.27 including commissions.
 

HLF.TO currently pays an annual dividend per share of $0.58 Canadian. Therefore the yield on this purchase is 7.46%. This purchase adds $52.20 to my annual dividend income.
 

I will update my investment tab portfolio with this purchase in early September.

DISCLAIMER

I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.

Saturday, August 11, 2018

Recent Sale

         I have owned Dream Office REIT since 2013 inside my margin account. Dream Office REIT was formerly Dundee REIT. The REIT recently reported earnings during the last week.

  • Net income  for Q2 2018 was $25.386 million compared to $32.521 million for Q1 2018, which represents a decrease of 21.9%.
  • Net income of Q2 2017 was $34.556 million. The 2018 Q2 net income represents a decrease of 26.5% from same 3 month period of 2017.
  • The diluted funds from operaton (FFO) was 0.40 for Q2 2018 compared to 0.46 for Q1 2018, which represents a decrease of 13.0%. 
  • Diluted FFO of Q2 2017 was 0.53.  Therefore Q2 2018 FFO of 0.40 represents a decrease of 24.5% for the same 3 month period. 
      The distribution has been decreased a few times over the past couple of years. The distribution on Feb 2016 was $2.23992 per unit annually and then was  decreased 33% to $1.50 per unit annually starting March 2016.  The distribution was again decreased to $1.00 per unit annually on Aug 15 2017 payment date.  The second distribution represents another decrease of 33.3%.  Overall, the distribution was decreased by 55.4%.

        As shown above, the REIT has a couple of tough years.  With interest rates rising over the last year and the recession in Alberta started in late 2014 effected their bottom line. In fact, during the recession the office vacancy rate in Calgary, Alberta was around 33%.  That was like entire floors of office buildings were vacant.  Although Dream Office REIT did not have a large portfolio of Alberta properties, it did affect them. The REIT did sell some Alberta properties over the last couple of years. 

    On Aug 9, I sold all 631 units of Dream Office REIT inside my margin account. When you own units of a REIT, some of the distribution payments are in the form of Return of Capital. The return of capital is substracted from adjusted cost base and therefore gives you a bigger capital gain or smaller capital loss when you sell.  My capital gain is $2113.76 which included the ROC up to end 2017.  So the ROC on distributions received in 2018 will not be known until a tax slip is generated the end of March 2019.  So the capital gain will be even higher that the current $2113.76.

   This sale also pays off my margin loan of approximately $9600 at 7.2% interest rate.  That interest rate is not a typo.

    This sale decreased my annual dividend income by $631.00.  

Disclosure:  Own 168 units of Dream Office REIT inside TFSA

DISCLAIMER
I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.

Saturday, August 4, 2018

Dividend Income Update: July 2018



      
        The month of July 2018 is another month of dividend income landing in my accounts. This money is used to help pay my expenses if it is needed. If the money is not needed, it is ALL used to purchase new investments to further increase my cash flow.

       
 Non-registered Accounts 

  • Bank of Nova Scotia (BNS) - $29.80 (Transfer Agent)
  • Bank of Nova Scotia (BNS) - $16.40
  • Bell Canada Enterprises (BCE) - $75.50
  • Canadian Imperial Bank of Commerce "C.I.B.C" (CM) - $37.24
  • Cineplex  (CGX) - $14.50
  • Dream Office REIT   (D.UN)  - $52.58 
  • Enerplus (ERF)  -$ 5.58
  • Restaurant Brands International (QSR) - $58.59
  • Rogers Communications Class B (RCI.B) - $96.00
  • Shaw Communications (SJR.B)    - $19.75
Subtotal :  $405.94

TFSA
  • A&W Royalties Income Fund (AW.UN) - $5.24
  • Boston Pizza Royalties Income Fund   (BPF.UN) - $26.91
  • Cominar REIT (CUF.UN) - $10.80
  • Dream Office REIT   (D.UN)  - $14.00
  • Horizons Natural Gas Yield ETF (HNY)  - $6.75
  • iShares 1-5 yr Laddered Canadian Corporate Bond ETF (CBO) - $0.57
  • Killam Properties REIT (KMP.UN) - $  16.11
  • TFI International (TFII) - $10.50
Subtotal:  $90.88

Total = $496.82

    I received a total of $496.82 in dividend income for the month of July 2018.  I almost made $500.00 again after surpassing $500.00 for the first time last month.  This represents a 0.408%  increase from 3 months ago and 9.58%  increase year over year.  

    I received $54.05 from option premiums within my investment accounts in June 2018.

    AW.UN increased their distribution 2.17%, which is come into effect for the July distribution that gets paid August 31.

    I will update my dividend income tab with the new amount I will include my option premium income also.  It is great to see money from passive income sources deposited into my brokerage account every single month.

How was your dividend income for July 2018?

Disclosure : Long all securities above.

Photo Credit: www.mipaq,co.za

DISCLAIMER
I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.

Friday, August 3, 2018

Portfolio Update - July 2018

The month of July is now behind us. The big news in Canada is the start of the new PC government in Ontario, Canada having a session in the legislature.  The Doug Ford led Progressive Conservatives won a majority on June 7 2018.  A few weeks later the cabinet was named and the legislature was recalled for a session to start July 11 2018 to get down to business. This government is hoping they can restore confidence in Ontario and make Ontario the economic engine of Canada.

NAFTA is still not settled between United States, Canada and Mexico.  The markets continue to march higher even with oil falling to below $70.00

The government of Canada in May announced $4.5 million deal acquire the assets of Kinder Morgan Canada. That deal is expected to be done by August.  As of this time of this writing, the deal has not been finalized.  The government of British Columbia, the western most province in Canada, are going to court to stop the expansion of the Kinder Morgan Pipeline.

The price of a barrel of crude oil for West Texas Immediate is trading at $68.58 US.   Why do I keep mentioning the price of oil?  Energy companies make up a large percentage of the capital markets in Canada.  Also, the economic engine of Canada is Alberta, mostly to the oilfields directly or indirectly.

Portfolio Activity

During the month of July, there was 3 options trades started. During the month of June,  I made 2 options trades at the beginning of the month and one towards the end of the month.

Rogers Communications raised in value to above the strike price and stayed there.  Noticing the stock price was not receding to below the strike price of $65, I put a buy to cover order to closed the option and keep my shares.  The lost on this option trade was $395.10.

Restaurant Brands International (QSR.TO) has increased in value and I wanted to keep my shares. The strike price of was $82.00. So, I sent in a buy to cover order to close the option trade.  The lost on this option trade was $251.90.

The  naked 2 put option contracts in WestJet Airlines (WJA.TO) with a strike price of $17 expired, and I keep the $68.05 in premium.

In July, I "rolled" my trade in QSR.TO by selling a coverd call with a strike price of $88 and Aug 17 2018 expiration date. I collected a premium of  $54.05 after commissions.  The stock is trading  at $82.56.

I sent a personal check to the transfer agent for Bank of Nova Scotia.  The shares purchased this way are purchased with no commissions. This is the old, old way of purchasing shares.  The downside, you have no control over the purchase price of the shares.  I purchased 4.244999 shares of BNS.TO at $76.5607 for a total of $325.00.  Bank of Nova Scotia currently pays an annual dividend of $3.28 per share.  Therefore, this purchase adds $13.92 to my annual dividend income.  The yield on cost of this purchase is 4.28%.

Finally, the drip was turned on for High Liner Foods (HLF.TO).  The stock has been trading a lot lower over the recent months.  High Liner Foods over frozen fish products under High Liner and other named brands.  Also, High Liner Foods provides the fish burgers for McDonald's Filet of Fish sandwiches.

Shares Purchased Via DRIP

 0.387545 shares of BNS.TO @$76.8944 for a total cost of $29.80 (transfer agent)

As stated above, Bank of Nova Scotia pays a $3.28 per share per year dividend.  Therefore, this purchase adds $1.27 to my annual dividend income. The yield on cost of this DRIP is 4.27%.

Dividend Increases

A&W Revenue Royalties Income fund (AW.UN.TO) increased their distribution from $1.656 to $1.692 per unit annually.  This represents an increase of 2.17%.  I currently own 38 units of AW.UN.TO.  This distribution increase adds $1.37 to my annual dividend income.  This distribution increase is the second one in under 6 months.

Summary:

As of August 3, the value of the portfolio is $117380.88. This is a 2.54% increase over last month's total. The spreadsheet investment tab above has been updated.

Disclosure: Long all mentioned stocks

Please Note: All stocks are from the Toronto Stock Exchange except TTR which trades on the Venture Exchange.

DISCLAIMER

I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.


Sunday, July 8, 2018

Stock Analysis: - Telus Corporation

Most people wake up and go to work at least 5 days a week.  People trade their time for money.  If you are not at work, you do not get paid. Most people do not think is there a way this way of making a living.

Some of these people have discovered a way of making money besides their job.  If you are reading this article, you are interested in investing.  You do not read a blog about investing by accident.  You are here for a reason.

You cannot walk down a street, take public transit, or visit a coffee shop without noticing the amount of people looking down at their smart phones.  It was not like this until 2007.  In 2007, Apple came out with the iPhone are changed peoples life forever.  The iPhone was the first smart phone without a physical keyboard.  That meant a bigger screen.  Since the release of the iPhone in 2007, the world has changed.  People basically are carrying a computer in their hand.

Nowadays, almost everyone has a smart phone.  Senior citizens are likely the only people who do not have cell phones of any sort.  

In Canada,  we have 3 big communication companies and 1 that is quite large.  The big 3 are Bell Canada Enterprises , Roger's Communications and Telus Corporation.  The other major communication company is Shaw Communications. Shaw Communications is trying to branch into wireless with their purchase of Wind Mobile, which they renamed Freedom Mobile.  Freedom Mobile has a very small foot print and customer base. Freedom Mobile does not have customers nation wide.  



Telus is the local exchange carrier and the telephone provider in Alberta and British Columbia, providing services such as television, Internet, and land line services.  

Telus also is in the wireless communications business.  Telus and its subsidiaries provide wireless services all across Canada. Telus has its own cell phone towers in western Canada and use cell phone towers belonging to their competitor Bell Mobility ( a part of Bell Canada Enterprises) in the rest of the country.  This agreement also allows Bell Mobility to use Telus towers out in Alberta and British Columbia.

Right now, Telus Corporation is installing fiber optics in buildings. For example, my building is wired for fiber optics.  The wiring ends just above the inside of my entry door to my apartment.  If I decide to switch to Telus, a technician would be dispatched with the equipment and would just have to wire form the modem to the fiber optic junction just about my apartment entry door.

More and more people are ending their use of landlines and going to only cell phones for their telephone services.

 The basic cell phone plans allow people to call locally wherever they are and not be charged long distance. Instead of searching for a payphone and individual could use their cell phone to make a local call but would be using air time minutes. They calls they would receive outside their local calling area would be classified as incoming long distance and be charged as long distance.

In recent years, cell phone planes have changed. Now cell phones plans often have unlimited local or national calling and text messaging. This alone has made people drop the land line altogether and just have cell phones.

On May 31, 2017, Telus no longer used CDMA has their type of wireless signal. Their wireless was switched to a more update signal that will allow it to expand and offer better wireless services to its customers. So all the phones and other wireless devices that used CDMA would not longer work.  So their customers either upgraded to newer model phones and possibly switched carriers if a better pricing plan was found.

Telus is upgrading their network in Manitoba, which will mean an large increase in capital expenditures.  Telus acquired about 25% of the customers of Manitoba Telecom Services from Bell Canada Enterprises after Bell Canada Enterprises takeover of Manitoba Telecom Services.

Now, we will look at some fundamentals of the stock.  Telus Corporations trades on the Toronto Stock Exchange and New York Stock Exchange as T and TU, respectively.

As I am in Canada, I will be using the Toronto Stock Exchange stock T for my analysis.

Currently Telus is trading at $47.17 as of the close on July 7, 2018.  Telus pays a dividend of $2.10 per share.  The stock is currently yielding 4.45%.  This yield is 45 bps above the stocks own 5 year average and 155 bps above the broader market.  

The EPS for the trailing twelve months is $2.45.  The dividend payout ratio is 85.7%.  This is rather high so this requires a more in depth look over the past years.  By looking at Morningstar for Telus we see the dividend payout ratio was between 50% to 62% from 2008 to 2013 and then increased afterward.  In the final quarter of calendar year 2014, the price of a barrel of crude oil started to fall.  The price of a barrel of crude oil continued to fall over the next 3 years.  Telus has a large customer base in Alberta and British Columbia.  So, as the price of a barrel of crude oil continued to fall, businesses directly involved in the oil and gas sector started doing layoffs and continued with more layoffs from 2014 to 2017.  The crash in oil prices also affected companies servicing the oil and gas sector which trickled down to hotels and restaurants.  This meant Telus has some customers scaled back their wireless and non-services or eliminated them all together.

The 5-year dividend growth rate comes in 10.1% and the 10-year dividend growth rate comes in 9.6%.

Telus has increased the dividend for 14 consecutive years. Their main competitor in Western Canada, Shaw Communications, has not increased their dividend in about 3 years.

With oil prices rebounding over the past several months trading above $70 a barrel, Telus will strongly benefit from people upgrading the wireline or wireless services.

Now, we will look at some fundamentals over the past 10 years.  Although 3rd party information, like Morningstar is quite accurate, it is best to use the annual reports from Telus to guarantee the correct numbers. The fiscal year for Telus ends December 31, which is the same as a normal calendar year.

Telus grew operating revenues from $9.653 billion in 2008 to $13.202 billion in 2017.  This is a compound annual growth rate (CAGR) of 3.54%.

This CAGR is good considering the amount of jobs that were lost over the past 3 years due to the huge collapse in oil prices and the corresponding layoffs as a result.  Telus is targeting revenue growth of 4 to 6 percent for 2018.  Some of increase in revenue is increasing prices on the current residential and business customers.

Next, we look at EPS over the last 10 years.  Quickly looking at the numbers we see the EPS for 2008 is higher than EPS for 2017.  This is a red flag that required some investigation. Looking at number of shares outstanding which drastically different leads to looking at a 10 year chart of Telus.  We see Telus did a 2:1 stock split around 2013. So, to reflect this we dividend the EPS in 2008 by 2.  Therefore, Telus grew EPS from $1.755 in 2008 to $2.46 in 2017.  This is a CAGR of 3.82%.

This a somewhat good.  Telus has reduced their share count approximately by 10% since 2012.

Besides their major customer base in Alberta and British Columbia being affect by the oil price collapse, these markets were drastically affected coming out of the worst recession  of 2008-2009 since the great depression.

I would expect the EPS to grow over the next couple of years as increases to their average revenue for residential and business customers and as more new customers.  With western Canadian having people migrate from others parts of Canada to find better paying jobs, the demand for Telus services should increase.

Telus has spent money on their build out of fiber to the home.  Telus's wireline division surpasses their main competitor Shaw Communications in this space.  As the increase of fiber optics on their networks means Telus is well positioned for the expansion of 5G networks, which likely be very fiber intensive.

The long term-debt to equity ratio comes in around 1.48.  The interest coverage ratio is 4.54.

The higher the interest coverage ratio the better.  As the economy in western Canada is rebounding with price of oil over $70 dollars. With more people moving to Alberta and British Columbia, the need for Telus's services will increase.  So, I am not too concerned and believe Telus is have no issues with regarding to servicing their debt.

The profitability of Telus remains very consistent.  The loss of customers is offset to the average revenue of ongoing customers increasing. With the economy of western Canada improving, the addition of new customers will make sure the profitability remains stable and possible increase.

Telus has an average annual net margin of 11.03% over the last 5 years.  During this time, Telus had 2 years of negative free cash flow in 2015 and 2016. The average revenue per customer gets reduced as people cut back or eliminate services altogether when the job market is bad.  Telus also  had a lot of capital expenditures with upgrading their networks such as more fiber optics.

The average annual Return on Equity over the last 5 years comes in at 17.39%.

Investing in Telus Corporation has served investors well over the past 10 years. Wire line and wireless communications are a part of everyday life. Customers are looking for quicker and reliable Internet at reasonable prices.

We do not want to over pay for a stock. Ultimately, we want to purchase a stock well below what we think the stock is worth.  By doing this, we have a large margin of safety.  The lower you buy a stock, the higher starting yield which means your money is working harder for you right from the start.

Valuation

The stock is currently trading at P/E of 19.3.  This is in-line with the stock's own 5-year average of 18.4 and much greater than that of the broader market of 15.9.  The industry average P/E ratio  is 18.6.

The stock is basically on par in terms of price to book and price to sales when compared to the stock's own 5-year average.

The stock is currently trading at P/CF (Price to cash flow) of 6.9.  This is on-par with the industry average and lower that the stock's own 3-year average of 7.5.  The current P/CF is lower than the broader market of 9.3
.
The stock does not look appealing at current price of $47.17.

I will attempt to value the stock using a dividend discount model analysis.  I am going to use a discount rate of 10%. I am going to use a dividend growth rate of 6.5% for the first 5 years and 5.5% growth rate for the next 5 years after.   I am using a dividend growth rate lower than the 5-dividend growth rate as I believe the growth of earnings to be smaller over coming years.  

The Dividend Discount Analysis gives me a fair value of $51.42.

I want to compare this to a 3rd party to see if my analysis is reasonable.

Morningstar currently rates it as a 3 star stock.  This would mean the stock is equally valued.

Morningstar has a fair value of $47.00.

I take the average of these 2 numbers to get a fair value of $49.21.

Conclusion:

The stock could be possibly around 4.3% undervalued.

I would not be a buyer currently as I believe the margin of safety is too low.

Disclosure:  I do not own T.TO shares in any of my accounts

DISCLAIMER
I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.

Sunday, July 1, 2018

Dividend Income Update: June 2018



      
        The month of June 2018 is another month of dividend income landing in my accounts. This money is used to help pay my expenses if it is needed. If the money is not needed, it is ALL used to purchase new investments to further increase my cash flow.

       
 Non-registered Accounts 

  • Cineplex  (CGX) - $14.50
  • Dream Office REIT   (D.UN)  - $52.58 
  • Enbridge (ENB) - $17.08    (Transfer Agent)
  • Enbridge (ENB) - $201.30
  • Enerplus (ERF)  -$ 5.58
  • High Liner Foods (HLF) - $29.00
  • Shaw Communications (SJR.B)    - $19.75
  • WestJet Airlines (WJA.TO) - $28.00

TFSA
  • A&W Royalties Income Fund (AW.UN) - $5.24
  • Boston Pizza Royalties Income Fund   (BPF.UN) - $26.91
  • Brookfield Renewables Partners LP (BEP.UN) - $21.16
  • Canadian National Railway (CNR.TO) - $17.29
  • Cominar REIT (CUF.UN) - $10.80
  • Enbridge (ENB) - $22.14
  • iShares 1-5 yr Laddered Canadian Corporate Bond ETF (CBO) - $0.57
  • Dream Office REIT   (D.UN)  - $14.00
  • Horizons Natural Gas Yield ETF (HNY)  - $6.82
  • Killam Properties REIT (KMP.UN) - $  16.11


Total = $508.83

    I received a total of $508.83 in dividend income for the month of June 2018.  This is my best month total ever and first time surpassing $500.00 in a month. This represents a 9.26%  increase from 3 months ago and 97.9%  increase year over year.  

    I received $122.15 from option premiums within my investment accounts in June 2018.

    I will update my dividend income tab with the new amount I will include my option premium income also.  It is great to see money from passive income sources deposited into my brokerage account every single month.

How was your dividend income for June 2018?

Disclosure : Long all securities above.

Photo Credit: www.mipaq,co.za

DISCLAIMER
I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.

Saturday, June 30, 2018

Portfolio Update - June 2018

The month of June is now behind us. What a month?

Three countries are part of the North American Free Trade Agreement, commonly referred to as NAFTA. These countries are Mexico, Canada, and the United States. There is ongoing discussions between the 3 countries on issues regarding NAFTA and the possibility of NAFTA being tweaked or ended altogether.

The government of Canada in May announced $4.5 million deal acquire the assets of Kinder Morgan Canada. That deal is expected to be done by August. The leader of the Green Party in Canada, Elizabeth May, believes the Trans Mountain pipeline expansion will not be built. Various topics and issues are currently before the courts, which started before Canada acquired the assets of Kinder Morgan pipeline. If the pipeline expansion is not allowed to go through, Canada is left with the current Kinder Morgan pipeline that is in use. The current Kinder Morgan pipeline in Canada was built in 1953.

The price of a barrel of crude oil for West Texas Immediate is trading at $74.25 US. OPEC is likely to increase production which will drive the price down, but have not taken action as of this date.

Portfolio Activity

During the month of June, there was 3 options trades started. Earlier in the month I made 2 options trades and one towards the end of the month.

On June 5, I wrote a covered call involving 2 contracts of Roger's Communications Class B Non-voting stock (RCI.B.TO). The strike price is $65.00 and the expiration date is July 20, 2018. I collected a premium of $20.05 after commissions.

On June 8, I wrote a covered call involving 1 contract of Restaurant Brands International (QSR.TO). The strike price is $82.00 and the expiration date is July 20, 2018. I collected a premium of $34.05 after commissions.

On June 28, I sold 2 put option contracts in WestJet Airlines (WJA.TO). The strike price is $17.00 and the expiration date is July 20, 2018.  I collected a premium of $68.05 after commissions.

Shares Purchased Via DRIP

There was no purchases via DRIP since my last portfolio update.

Dividend Increases

There was no dividend increases for the stocks in my portfolio.

Summary:

As of June 30 2018, the value of the portfolio is $114475.14. This is a 2.75% increase over last month's total. The spreadsheet investment tab above has been updated.

Disclosure: Long WJA.TO, RCI.B.TO, QSR.TO

Please Note: All stocks are from the Toronto Stock Exchange except TTR which trades on the Venture Exchange.

DISCLAIMER

I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.