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