Thursday, September 13, 2018

Recent Purchase - Start Dripping Again

  


 During the last couple of years, Cominar REIT has decreased their distribution a few times.  When the distribution is cut, the unit price of the REIT drops dramatically.  With the distribution being reduced, the monthly distribution was not large enough to DRIP one unit of Cominar REIT.

 I notice the REIT price has been dropping and approaching a 52 week low.  The distribution is currently $0.72 per unit per year.  I owned 180 units of Cominar REIT, which  means I collected $10.80 per unit per month in distribution.

On September 11, I purchased 30 units of Cominar REIT ( CUF.UN.TO) at $11.89 for a total cost of $361.76 including commissions. The purchase price represents a 5.97% yield.

This purchase adds  $21.60 to my annual dividend ( or distribution) income.

So, I currently own 210 units of CUF.UN.TO inside my TFSA.  This means my monthly distribution will be $12.60 starting with the September distribution that pays middle of October..  I did not want to go crazy with the purchase as I just wanted a little more distribution that would allow me to DRIP.

I will update my investing tab spreadsheet in early October with this purchase.

Disclosure: long CUF.UN.TO

Photo Credit:  Market-Schools.org

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.

1 comment:

  1. nice pursuit. got to love enabling a drip.

    I have been looking into adding another reit to the mix. time to look into cominar.

    keep stacking them divs
    cheers

    ReplyDelete