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Man I love entering positions when every body else is shitting on their pants. I also set an alert at 42.00 to purchase 35 more shares if prices keep falling.
This is an 18 billion dollar Canadian company focused on oil and gas production and exploration. It is not a typical dividend grower, in fact the last time it increased its dividend was back in June 2008. However, the current yield is around 6.4% and that makes it really attractive as a dividend payer even thought like I said, they are not increasing it.
This baby has historically traded at very high valuations. The P/E ratio has oscillated form a low of 62 to a high of 207 in the last five years. Current P/E ratio is 84, closer to the lower end. I didn't time my entry very well, if it falls to 42 - 41 I will add 35 more shares.
Crescent Point was listed in the Toronto Stock Exchange in 2002. Here's how a $10 000 investment would have fared in these 12 years, assuming dividends were always reinvested:
With this purchase my yearly passive income from dividends is 1046 CAD plus 382 USD. I'm now invested in 12 Canadian companies and 7 American ones. Next in my list are:
Coca Cola (KO) - Where I already have a position, just want to increase it
Chevron (CVX) - Where I already have a position, just want to increase it
Telus (T.TO) - Position increase
Bank of Nova Scotia (BNS.TO) - Position increase
Wsp Global (WSP) - New Position
Potash Corp of Saskatchewan (POT) - Position increase
Enbridge (ENB) - New position
I'm waiting for more attractive valuations and that's why I've been a little cautious in the last couple of months.
Position initiated in Black Diamond Group Ltd
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