With the month of May rapidly moving along and the market continuing to march ever higher, the same old value song begins to resonate in my head about where I’d like to allocate fresh funds in my long term portfolios. Believe me, I would love to add to many consumer staples or industrial names that are already in my portfolio but I’m not willing to pay the sky high valuations that many of them are sporting. That being said, I tend to follow pretty closely my beginning of the month stock considerations list and in May I had mentioned how I am liking the big three health REITs, HCP, HCN and VTR, to which I added to last week, as well as considering JNJ, EMR and CAT additions. Of course, my old standbys for the last ten months or so have been the large Canadian banks with BNS topping my consideration list. With that being said let’s review my recent buy.
I have added to my ROTH account 15.077 shares at $53.06 for a total investment of $800 in The Bank of Nova Scotia (BNS). With this recent purchase my ROTH account holdings in BNS now totals 115.1380 shares for a value of $6,144.92.
The reality is that in today’s market, even with many great stocks near all time highs, or at the very least, trading at higher than average valuations, there are still buying opportunities that can be found. What I always find amazing while reading the other dividend blogs is that there is no shortage of investment ideas or theses. In other words, a good long term investment can be found during any market condition. The bottom line is that a dividend growth investor must contiunally add to their portfolios to build that ever increasing passive income stream during all market conditions. I can understand the fear that accompies a potential investment with the market at a seeming top but as long as every company I invest in continues to pay out a dividend, and even better, a rising dividend I’ll be happy. With my long term portfolios I am more interested in a growing dividend income stream rather than capital appreciation. If my portfolio value was halved overnight I would continue to invest as I always have while continuing to collect my dividend income.
What do you think about my recent buy? Are you looking at any of the large Canadian banks as well? Please let me know below.
Disclosure: Long HCP, HCN, VTR, JNJ, EMR, CAT, BNS