Recent Purchase

The markets have been going up and up almost everyday and it is harder to find opportunities to put cash to work.  

I had some money and decided to put the money to work in a stock I have been watching for some time.  

I did a stock analysis on Fortis Inc (FTS.TO).    The dividend was increased since I wrote that post. 

The stock has come under pressure as of late and is currently trading a lower price than when I wrote the linked post that mentioned previously.  That would indicate the stock is possibly more undervalued.

I had some money in my TFSA, and decided to take advantage of this opportunity.

Purchase

I purchased 17 shares of Fortis Inc (FTS.TO) at $51.12 per share for a total cost of $874.05 including commissions.

Fortis is currently paying a quarterly dividend of $0.505 CAD per share, or $2.02 per share annually.  

This purchase adds $34.34 to my annual dividend income.  The yield on cost for this purchase comes in at 3.93%.  This yield is 34 BPS above the stocks own 5yr average yield of 3.59%.

This purchase was made in my TFSA.  For disclosure, I do have a Fortis position in my RRSP, but I do not include the RRSP as part of the dividend income for the blog.  Also, I am selling covered calls in my RRSP on the Fortis position.

I will update my investment tab spreadsheet in a few days with this transaction.

Disclosure:  Long FTS.TO

Video credit : Fortisinc.com

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.