New TFSA Purchase Chorus Aviation

Hi everyone I’m back to share with you a small purchase I made this week. Due to the fears in the world and on the stock market I decided to add to a stock that dropped significantly. The stock was Chorus Aviation, I’ve held Chorus for several years now and like their business model.

Chorus Aviation Who??

Chorus Aviation is a company that specializes in aviation based in Nova Scotia. If you live in Canada there is a good chance you have flown on them if you were on a short-haul route in Canada or to the United States, Chorus is a the largest contracted partner for Air Canada and fly under the Air Canada Express/Jazz banners. In total Chorus Aviation has it’s hands in six business areas which are:

• Aircraft Leasing
• Contracted Flying & Special Missions
• Aircraft Parts & Components
• Maintenance, Repair & Overhaul
• Charters
• Custom Design & Engineering

Chorus pays a monthly dividend of $0.04 and that hasn’t budged in about three years. But I believe the future is bright as they are currently growing the aircraft leasing business which I believe could be a big growth market for them.

The Buy

Thanks to zero commissions at Wealthsimple Trade I was able to make this purchase as I had $96 cash sitting in the account. So I was able to buy 13 new shares, with these additional shares my forward income will increase monthly by $0.52 and annually by $6.24.

Not a big purchase but every little bit helps me to reach my goal.

Are you guys buying anything please let me know.

Thanks

Matthew