Hello everybody I hope your having a great day. I have finally made a purchase my last was in February so for the past few months I have sat back and collected my dividends. The stock that I purchased was Magna International (MG).
Magna is a leading global automotive supplier with 306 manufacturing operations and 92 product development, engineering and sales centres in 29 countries. Magna is the most diversified automotive supplier in the world, designs, develops and manufactures automotive systems, assemblies, modules and components, and engineers and assembles complete vehicles.
(Source Magna Website)
On Tuesday June 14, 2016 I purchased 26 shares @ $50.31 for a cost of $1308.06. This is my second investment in the company. My first purchase was on Jan 15, 2016 when I purchased 18 shares @ $48.50 for a cost of $873. With both purchases I now own 44 shares at an average cost of $49.57.
Magna pays a dividend of US 0.25. The dividend has been raised for six consecutive years the latest increase occurred with the March payment the dividend increased to US 0.25 from 0.22. With this purchase my income increases US$13 (CDN $16.80).
So what do you think of my purchase? I would love to get your opinion.