Recent Buy

     The price of a  barrel of crude oil has affected a lot of the energy players on the Toronto Stock Exchange.  Energy makes up a lot of the companies listed on the Toronto Stock Exchange.  I am not confident that the price of oil will only rise from here.  I  think it will drop some more in the near future.
     I looked for opportunities elsewhere. I decided to look at the financials in Canada.  I noticed that the Bank of Nova Scotia has a current yield of approximately 5%.  I purchased 20 shares at $55.99, which comes to a total cost including commissions of  $1124.82.
   
     BNS currently paid an dividend of $2.80 per share per year, which adds $56.00 to my annual dividend income.

Yield on Cost = $2.80/($1124.82/20)
                        = 4.98%

  This purchase was made in my margin account.  I will update my investing tab spreadsheet in a few days to reflect this purchase.

   I  also own BNS directly with the transfer agent.  This particular position has a full drip on which means the entire dividend is reinvested.  The Canadian Banks are some of the best run banks in the world, an I am happy to be a shareholder in 4 of these banks.  I currently own shares in BMO, RY, TD and BNS.

Disclosure: Long BNS, TD, RY, BMO

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.