Well it took me awhile but I finally did it, I made another purchase. On May 9th, 2017 I purchased shares of Power Corporation of Canada.
What Is Power Corp?
Power Corporation of Canada is a diversified management and holding company. The Company has interest in the financial services, renewable energy, communications and other business sectors. Its principal asset is the controlling interest in Power Financial Corporation (Power Financial). Its segments are Great-West Lifeco Inc. (Lifeco), IGM Financial Inc. (IGM) and Pargesa Holding SA (Pargesa). Lifeco offers life insurance, health insurance, retirement and investment services, and is engaged in the asset management and reinsurance business. IGM is a financial services company operating in Canada, primarily within the advice segment of the financial services market. Pargesa is a holding company with diversified interests in Europe-based companies active in various sectors, such as minerals-based specialty solutions for industry; cement, aggregates and concrete; testing, inspection and certification; wines and spirits, and electricity, natural gas and energy and environmental services.
(Source : Google Finance)
(Source: Power Corporation’s website)
In 2015 the dividend was increased for the first time since the financial crisis in 2008. Power Corp has since raised the dividend for three consecutive years. The latest increase occurred on May 12, 2017 when it was increased 7% to $0.3585 from $0.3350.
Before the purchase I currently owned 36 shares of Power Corp (ticker: POW) at an average cost of $27.07.
On May 9th, 2017 I purchased 23 new shares at $31.00 = $713.00 + 9.99 (trading fee) = $722.99. After the trade I now own 59 shares and the average cost has increased to $28.77.
The 23 new shares will boost my quarterly income by $8.25. Annually my income will increase by $33.
Well guys there you have my first purchase since March and just my third this year. Thank you for reading. Please feel free to share your thoughts on my purchase I enjoy your feedback.
Thanks again for stopping by I appreciate it.