Last month I invested in Telus (for its growth and rising dividends), Suncor (needs no explanation, I hope), RioCan (extremely cheap pricing right now) and Canadian General Investments (just because I haven’t given it attention in a while).
This month’s DRIPs include Scotiabank (BNS), TransAlta (TA) and TransCanada (TRP). It’s partly because their investment dates are coming up soon, but it’s also because these are solid companies that have survived the downturn quite well and provide essential services.
(1) Scotiabank is one of the world’s most stable banks.
(2) Scotiabank is one of Canada’s more conservative banks.
(3) Scotiabank has great international presence.
(4) TransAlta gets 50% of its revenues from renewable energy (and this is growing).
(5) TransCanada has a growing dividend AND gives a discount to those in its DRIP.
(6) Come to think of it, Scotiabank is now also giving a discount to those in its DRIP!
(7) Obama praises the Canadian banking system.
OK, #7 isn’t really one of my reasons for buying, but it’s nice to know (thanks, Obama:)). And YES, I do own all of these stocks and often do own many of the stocks I write about. I know I don’t have such a big readership that I need to worry about influencing the stock prices. Do your own diligence!
If you want to start some DRIPs of your own, or you just want to learn more about them, they’re my favourite way to invest and I’ve written about them quite a bit.
Lately, though, my DRIPs have been having to compete with my newfangled “dividend emergency plan,” which seems to be where I’m putting 60% of my investment capital at this point. So this is the year I need to get back into beefing up my DRIPs. Actually, I think I’m trying to beef up my investments this year by 200%. I’m just increasingly feeling a sense of urgency about getting financially ahead. I wish I had known five years ago as much as I know about investing today. It’s time to make up for lost time!
Related Posts - What is a DRIP?
- Wealthbuilding in Your Fifties and Sixties: DRIPs Work At Any Age
- Best Canadian DRIPs For Your First Share
- How Do You Decide Which DRIPs To Get Rid Of?
- Investing in Canada's Real Estate Market
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I worked on a real estate deal many moons ago, and we where a extremely well funded company with a great reputation. We worked with Scotiabank on the mortgages. There level of due diligence was unmatched.
Great company
That’s interesting; I do know several people who have their mortgages with Scotiabank and they love it. They’re very flexible at that company when it comes to mortgages, apparently (I don’t have a mortgage of my own… yet!).
Scotiabank seems like a good pick. They seem like a large bank and are everywhere. At least that was my impression when I lived in Toronto for 3 months.