A quick update on a couple of purchases in our portfolios. It is getting harder and harder to find good value plays as the market seems be pushing the boundaries on the valuation front. With a lot of stocks trading close to 52-week highs, pickings have been pretty slim. However, due to an oversized cash position, I decided to pay up on a couple of strong companies and add to my existing positions.
- First purchase: I added to my position in Brookfield Infrastructure Partners LP (BIP.UN.TO). I bought 50 shares @ CAD$55.50, which adds US$100.40 (dividends are declared & paid in US$) in annual dividends going forward. This is second tranche of purchase in the last month — see this post for the recent buy decision.
- Second purchase: I added to my position in Toronto-Dominion Bank (TD.TO) this week. I bought 25 shares @ CAD$74.65, which adds CAD$74.00 in annual dividends going forward. Valuation doesn’t really seem like a steal, but with a dividend yield of ~4%, its not too bad either.
Full Disclosure: Long all mentioned stocks & bonds. Our full list of holdings is available here.