Hi everyone I hope you are all well and getting a chance to enjoy summer. Today’s post is going to take a look back at last week. Last week turned out to be a busy week for my portfolio. Last Tuesday as you know I purchased Transcontinental here is the link to that post. After that though I made three more purchases and one sell, also I made a decision in regards to my Tax Free Savings Account which I think will help grow the account quicker.
DRIP
Yes the drip (dividend re-investment plan) folks, on Wednesday July 10th I contacted my brokerage and asked them to turn on the drip for every stock in my Tax Free Savings Account. As you know over the last couple of years I have turned the drip on and off as I wasn’t able to make up my mind. I have chose to turn it on because I believe this will help grow my dividend income quicker in the years ahead. It is my goal double, triple and quadruple this account over the next few years.
I don’t think I will be able to drip any new shares in July so it should start in August 🙂
On July 11th I purchased 70 shares of Diversified Royalty Corp for my Locked In Retirement Account. I decided to add to my position within this company has I had some money available and wanted to put it to work for me. The company pays a monthly dividend of $0.0185 so this purchase will boost my income by $1.29 per month and $15.48 annually.
On July 12th I decided to sell my 42 shares in Alimentation Couche-Tard and take my 39% profit that I had since I first started buying the shares. I really like the company and maybe in the future I will buy their shares again. I sold because I wanted to invest in two of my bank stocks. I gave up capital appreciation for dividend growth.
The first stock that I used the proceeds on from Couche-Tard sale is the Bank of Montreal I purchased an additional 20 shares. BMO is one of the very first stocks I purchased when I started buying individual stocks. I am very happy to have been able to buy more shares. BMO pays a quarterly dividend of $1.03 per share. With this purchase my quarterly income will increase $20.60 and annually by $82.40.
The second buy from the Couche-Tard sale is Royal Bank of Canada. Royal Bank is also one of the very first stocks that I bought and I am always happy to buy more shares in this bank. On July 12th I was able to buy an additional 19 shares. Royal Bank of Canada pays a quarterly dividend of $1.02 and these new shares will boost my quarterly income by $19.38 and annually by $77.52.
After all these transactions my forward dividend income now stands at $7,690.
Well fellow investors what do you think of my decisions? Please feel free to let me know.
Thanks for reading!
Matthew
All About The Dividends 
Nice matt you have been busy.
Great idea to take some profits and move into higher yielding bluechip stocks.
gotta love those banks. Also nice move on those drips.
keep it up man
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Thanks Rob 😁
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Very nice relocation of capital! The stock price for couche-tard may be ahead of itself. Don’t forget that they are a large operator of gas stations and they already see a decline of gas sales by 1%. It’s nothing to worry about, but the electric cars sales are growing exponentially. I’m pretty sure they have a smart management team in place and they will figure out on how to implement electric car chargers at the gas stations. Couche-tard announced a 20% dividend increase but they are still behind on the yield compared to bank stocks. Keep up the good work!!
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