April TFSA Purchases

buy-keyboard

 

Hello and welcome to the end of April everyone. Last week I shared with everyone about my Future Portfolio & New Strategy.

Last week I started to implement my strategy with some purchases in my TFSA account. April has been quite a bit different compared to March. In March I made a ton of buys, and in April it has been almost the complete opposite. I expected to make more purchases this month but the market has done the reverse of what I thought it would have by rising. The purchases I made were on April 21st. I purchased two Canadian big five banks and a telecom company.

1st Buy – Bank of Montreal

Bank of Montreal (ticker: BMO) is one of the very first stocks that I purchased way back in 2014. The bank has been a steady dividend payer ( like all the Canadian banks) that has been raising the dividend semi-annually for years. BMO is the worst performer of the big five banks this year due to investor concerns about the banks exposure to the oil & gas sector which represents only 2.5% of it’s loan portfolio.

BMO has an annual dividend of $4.24 and yields 5.78%. I purchased 5 shares @ $67.73 per share. These 5 shares will boost my income by $21.20.

2nd Buy – Royal Bank of Canada

Like BMO, Royal Bank of Canada (ticker: RY) is another stock that was one of my very first purchases. RBC like all of the other banks has suffered from the loan loss concerns, the economic contraction that is coming to Canada and the high unemployment numbers. RBC is Canada’s largest bank and Canada’s most valued company.

RBC has an annual dividend of $4.32 and yields 4.88%. I purchased 5 shares @ $85.68 per share. This purchase adds $21.60 to my forward income.

3rd Buy – Telus

I think Telus (ticker: T.TO) like all of the other telecom companies are good investments these days. Even with all of the unemployment numbers I think phones, internet and data plans will be one of the last items people will cut from their budgets. I can see some people phoning and having their bills reduced. Now a days internet and data usages are probably at all-time highs with everyone stuck at home.

Telus has an annual dividend of $1.16 and yields 4.38%. Telus recently did a 2 for 1 stock split so that is why the annual dividend looks low. I purchased 10 shares of Telus @ $22.12 per share.  These ten shares will boost my income by $11.60.

These three purchases will add $54.40 to my forward income.

Thanks for reading!

Matthew

4 thoughts on “April TFSA Purchases

  1. Nice purchases, very solid companies. I decided not to buy any stocks in April because the market has recovered too much. The worse is yet to come. The Q2 reporting in August will look ugly 🙂 I’m also looking to start a position in Telus.

    Liked by 1 person

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