Merry Christmas, and Happy Holidays to all of my fellow investors. I hope you are all enjoying the holidays with your friends and family. Today I am going to share with you my final purchase of 2018. The stock that I purchased is not a new position in my portfolio, in fact this is the third time I have purchased the stock this year. However this time I bought it in a different account. The stock that I bought was Inter Pipeline.
As mentioned above this is the third purchase of the year for me of this company. I watched the share price fall below $20 and thought it was a good opportunity. Before this purchase I only had the stock in my Tax Free Savings Account, and now I have added it in my Registered Retirement Savings Plan.
Why did I add it to a different account?
Well I did this purely for the dividend income. Over the last few days I have been trying to come up with goals for 2019 and I am leaning towards investing less next year and this buy will help me fund other purchases. Inter Pipeline currently pays $0.1425 per share monthly. I have turned the dividend reinvestment plan off for my accounts in order to build up my cash positions. After this purchase a couple of concerns arise, Inter Pipeline is one of my largest holdings and the energy sector has become a very large part of my portfolio. I will try and address those concerns in the future.
In order to fund this purchase I decided to sell the rest of my shares (165) in my ZDY ETF. I temporarily lose $140.58 in dividend income.
On December 18th I purchased 255 shares of Inter Pipeline @$19.77 per share.
As mentioned above Inter Pipeline currently pays a monthly dividend of $0.1425 and with this large purchase my monthly income will increase $36.34 and $436.08 annually.
Well folks thanks for reading. Have you been buying any stocks lately with the volatility on the stock market? Please feel free to comment below.