2 Recent Buys – AQN, FIH.U

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Last week I added to one existing position and initiated a new position.

For the first purchase: I added to my position in Algonquin Power & Utilities Corp (AQN.TO). The stock price has come under a bit of pressure lately, and I managed to add more shares to my sizable position. I added 100 shares @ C$13.00 adding an extra US$46.6 in annual dividends, a yield of 4.38%. I have already detailed various reasons on why I am bullish on this stock, so I will simply point to previous posts on this stock.

Second purchase: I initiated a new position in my portfolio with Fairfax India Holdings Inc (FIH.U.TO). The stock provides exposure to the Indian market, where the economic growth is phenomenal, as India is expected to carry the bastion for global economic growth from China. While the size of Indian economy is not quite the size of China’s there is plenty to like about the Indian economy. Instead of going with an index fund, I decided to choose this as I have been watching this holding company since inception. The holding company is headed by Prem Watsa, touted as Canada’s Warren Buffett, and follows the Berkshire Hathaway model.

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2 Recent Buys – KL, AQN

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A quick update on a couple of purchases in my portfolio adding to my existing positions.

  • Last week saw some tumultuous time in the resource sector and almost all gold miners took  a hit. The fundamentals havent changed for most of these companies and have in fact improved significantly for some. A 5% drop in share prices provided me with a decent valuation to add to my already largest stock position in my portfolio. I added 100 shares in Kirkland Lake Gold (KL.TO) @ C$11.30. For people who arent familiar with the space, KL is the newly merged company and is on track to become a heavyweight in the mid-tier space of the gold mining business. The company is headed by none other than the legendary Eric Sprott and is sitting on some amazing resources. The Fosterville project has proven to be a literal goldmine as better results keep coming month after month improving the prospects. KL has been on a tear this year and the YTD performance has been approx 65%. Nevertheless, I am so bullish on this company that I do not intend to sell and take profits but looking to add to my position on any pullbacks. KL also recently initiated issuing dividends and announced a buyback program.
  • Yesterday, I also made a purchase adding to one of my long term dividend growth stock holding. I added 100 shares in Algonquin Power & Utilities Corp (AQN.TO) @ C$13.00. I have owned shares in AQN for a few years now and have been extremely pleased with the performance. The company yields approx 4.7% and adds US$46.6 annually (dividends are paid in US$). I am a big fan of this business, which owns assets in all three major subsectors – electric, gas and water…which as far as I am aware, is the only utility company that provides exposure in all three subsectors. AQN also has a renewable energy division, which is a nice growth area to gain exposure in.

Full Disclosure: Long AQN.TO, KL.TO. Our full list of holdings is available here.

Recent Buy – Algonquin Power & Utilities Corp

AQN

A quick update on a recent purchase in my portfolio this week. I had a GTC order sitting on this company for a little while which got executed and I managed to pick up a nice chunk of shares at a decent valuation.

I bought 200 shares of Algonquin Power & Utilities Corp (AQN.TO) @ C$11.00. The company currently yields 5% adding US$84.70 (the company pays dividends in US$) to my forward dividend income.

Only new developed since last purchase earlier this year is that the company is now cross-listed on the NYSE (symbol: AQN). Other than that, its business as well. The company is well run, provides great exposure to US utilities in all three subsectors — electric, natural gas and water, has arguably the most impressive revenue growth and earnings growth story in the sector, and offers lucrative dividends, which are expected to rise by 8-10% over the next few years.

To read a more detailed description, check out my last post where I profiled this company.

Recent Buy – Algonquin Power & Utilities Corp

Full Disclosure: Long AQN.TO. My full list of holdings can be found here.

 

Recent Dividend Increases

DivGrowthInfo The birth of our baby girl has kept me busy over the past few weeks. As such, I missed capturing the dividend increase announcements. Instead of posting each increase separately, I will capture the increase announcements in a single post here – for the sake of easier documentation.

On April 26, 2016 Wells Fargo & Co (WFC) announced a 1.33% dividend raise. The quarterly dividend increases from $0.375 to $0.38. The new dividend amount is payable Jun 1, 2016 to shareholders on record on May 6, 2016.

On April 26, 2016 Apple Inc (AAPL) announced a 9.62% dividend raise. The quarterly dividend increases from $0.52 to $0.57. The new dividend amount is payable May 12, 2016 to shareholders on record on May 9, 2016.

On April 27, 2016 The Jean Coutu Group (PJC.A.TO) announced a 9.09% dividend raise. The quarterly dividend increases from C$0.11 to C$0.12. The new dividend is payable May 27, 2016 to shareholders on record on May 13, 2016.

On April 28, 2016 Johnson & Johnson (JNJ) announced a 6.67% dividend raise. The quarterly dividend increases from $0.75 to $0.80. The new dividend amount is payable Jun 7, 2016 to shareholders on record on May 24, 2016.

On May 3, 2016 Cineplex Inc (CGX.TO) announced a 3.85% dividend raise. The monthly dividend increases from C$0.13 to C$0.135. The new dividend is effective May and will be paid in June 2016.

On May 12, 2016 Algonquin Power & Utilities Corp (AQN.TO) announced a 9.97% dividend raise. The quarterly dividend increases from US$0.0963 to C$0.1059. The new dividend is payable Jul 15, 2016 to shareholders on record on Jun 30, 2016.

On May 13, 2016 Power Corporation of Canada (POW.TO) announced a 7.63% dividend raise. The quarterly dividend increases from C$0.31125 to C$0.3350. The new dividend is payable Jun 30, 2016 to shareholders on record on Jun 9, 2016.

Be sure to check out Dividend Growth Info for regular weekly updates and follow DivGrowthInfo on Twitter for all dividend growth increase announcements.

Full Disclosure: Long all stocks mentioned above.

Recent Buy – Algonquin Power & Utilities Corp

AQN

Whenever I make a purchase, I like to share my buys to document and illustrate how I am building my income stream over the course of months/years. My main goal is simply to keep investing at regular intervals and build my passive income over the course of time. The market may go up and down depending on a plethora of events, but I look for safe dividends and developing income streams building my own pension.

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