With just a few days left in the month of March, I’m happy to announce my latest dividend purchase. This has to be one of the longest stretches of time between my buys as my last buy post was published on February 8 announcing the addition of 73 shares of ADM to my taxable account. Of course, since early February the market has been on a tear with many beaten down stocks climbing quite dramatically which, no doubt, put the brakes on many new purchases among our fellow dividend bloggers, myself included as values became less compelling. Names that I have considered in my March 2016 Stock Considerations post have all gone up as the rebound in oil prices seemed to have lifted many of the beaten down industrial names like Dover Corporation (DOV) and Caterpillar Inc. (CAT) as well as the large Canadian banks, The Toronto-Dominion Bank (TD), The Bank of Nova Scotia (BNS) and Royal Bank of Canada (RY) for example. Even the health REITs staged an amazing rebound after the HCP, Inc. (HCP) earnings debacle. What’s a dividend investor to do in times like these? Of course, I pride myself in not attempting to time the markets and since becoming a dedicated dividend growth investor I made a conscious effort to invest every single month no matter the market conditions. After all, who really knows how long the market will remain relatively strong. It may take a dive next month or continue its “melt up” for several more months. Fully admitting that I am not a market timer with no crystal ball I will continue to nibble on positions already in my portfolio and continue to average down where I can. With that being said, let’s take a look at my recent stock purchase.
I have added to my ROTH account 14.7506 shares at $56.27 for a total investment of $830.00 in Royal Bank of Canada (RY). With this recent purchase my ROTH account holdings in RY now totals 84.2777 shares for a value of $4,754.11.
The Canadian banks still offer very good value and safe, relatively high yield despite their recent climb from their February lows and the remaining economic headwinds that persist with low and unstable oil prices as well as a weak local currency.
What do you think about my recent stock purchase? Have you been putting on the brakes with your new purchases in recent days because of a “more expensive” market or are you remaining consistent with your buys making purchases at least once a month? Please let me know below.
Disclosure: Long ADM, DOV, CAT, TD, BNS, RY, HCP