October Update – Happy Halloween!

Monthly Dividend Update

My portfolio lost over $20,000 in the last month!  I know Halloween is supposed to be scary…but come on!  In all seriousness, i’m not worried about it – I’ve been expecting a correction for some time, and I’m hoping things stay low for a while, so that once I get my tax refund and if/when we sell the cabin in the spring I’ll have a nice chunk of capital to deploy!

Personal Highlights for October:

  • Shoulder is doing a little bit better, started physiotherapy and even played my first 2 soccer games of the season!
  • The kids are super excited for Halloween tonight, got their costumes ready and Holland has been practising yelling “TRICK OR TREAT” all week.
  • Had a date night with the wife…went to a Jet’s game and dinner afterwards with a group of friends.  Does that count as a date night? Oh well – it was fun
  • Had a root canal done, which wasn’t nearly as bad as I thought it would be – and even better, it was completely covered by insurance.
  • Went to see the legend Norm Macdonald at Rumours Comedy club. It was great (of course).
  • Picked up and carved 2 pumpkins.  The kids enjoyed scooping the GOO out..that’s about it.  Mommy did the rest.
  • Amber’s work had a family fun day last weekend, so we took Holland on a 100+year old train for a ride out into the country, where there was a haunted house, and some other fun activities. I don’t think the haunted house scared her (she hugged one the ghost….)haunted house Halloween winnipeg blog


Financial Highlights for October:

  • Continued bi weekly payments into RRSPs & Spousal RSP.
  • Not a huge dividend month, but did get a nice payout from one of my favourite stocks: Algonquin Power. I was able to DRIP 12 new shares, which brings my new share total to 900 even!
  • Dripped 34 new shares/units.  I was paid from 6 companies and 1 fund
  • Sold my position in Alimentation Couche-Tard (ATD.B)
  • Used proceeds from Couche-Tard sale to pay off all existing debt
  • Used excess cash from sale to increase position in Western Forest (WEF)

Passive Income Update For October 2018.


Diversified Royalty: $9.46 (dripped 3 shares)

Artis Reit: $52.47 (dripped 4 shares)

Interrent Reit: $2.32

Plaza Reit: $26.90 (dripped 6 shares)

Algonquin Power: $147.59 (dripped 12 shares)

Chorus Aviation: $11.16 (dripped 1 share)

TFSA’s Total: $249.90


Canadian Equity Income Distribution: $222.62 (dripped 8 shares)

Total Passive Income October 2018:  $472.52

Portfolio Update:

My portfolio suffered it’s biggest ever 1 month drop.  This is partly due to the market pulling back, and partly due to selling about $8,000 worth of Alimentation Couche Tard stock.  The portfolio decreased by $22,807.64 compared to last month. This represents a drop of 7.15%.

My portfolio currently sits at $296,023.16.  This is the lowest my portfolio has been since last October.

On the plus side, dividends grew by $37.35 compared to last October. This represents an 8% increase.


Current Watch List:

Andrew Peller: ADW

Exco Technologies: XTC

InterRent Reit: IIP

Transcontinental: TCL

Thanks for reading, and good luck in November!

Bourbon-Amaretto Sour

Bourbon Amaretto Sour Cocktail

Made a couple of these tasty little treats over the weekend.  I have to admit, I prefer a straight whisky sour, as this one was a bit too sweet for my liking but the two ladies who tried them (my wife and my cousin) seemed to enjoy the sweetness of the Amaretto.

Bourbon Amaretto Sour


I made a few variations, one with a bit more bourbon, and one with equal parts Bourbon & Amaretto.  Obviously I preferred the one with more bourbon.


1 oz Amaretto

1 oz Bourbon  (or more if you prefer)

Lemon Juice (half a lemon)

0.5 oz Egg White

.25 Simple Syrup

Topped with Angostura Aromatic Bitters(pic below)

Bourbon Bitters Amaretto

You can find other cocktail recipe’s on the “My Bar” tab as well or by clicking HERE


Transcontinental’s Stock Is CHEAP right now!

Transcontinental Stock Breakdown

In July I did a stock screen of Canadian dividend paying stocks, that have increased their dividend over the last 5 years, have a low payout ratio and are attractively priced.  I used some other metrics as well, and you can read the full post HERE

The screen narrowed down the Dividend Aristocrats list from about 100 stocks, to under 20, and ranked them based on about 10 different metrics. With the recent market downturn happening in Canada, I decided to take a look back, and see if any of the companies on my list have been discounted enough to warrant a buy.  There were 7 companies now trading at a 10% or more discount from July.  One stock however caught my eye: Transcontinental [TCL.A].  TCL is trading at a 33% discount from just 3 months ago!

Stock Price on July 27 Price Now Difference % Discount
Transcontinental 30.62 20.37 10.25 33%
CCL Industries 67 53.36 13.64 20%
CWB 36.47 30.86 5.61 15%
Canadian Tire Corp 175.5 149.27 26.23 15%
Dollorama 46.54 39.8 6.74 14%
CAE INC 20.63 17.83 2.8 14%
Andrew Peller 16.5 14.77 1.73 10%
Methanex Corp 89.24 81.66 7.58 8%
Saputo 42.99 39.63 3.36 8%
Enghouse Systems 77.19 72.2 4.99 6%
Loblaw 69.31 65.11 4.2 6%
Metro Inc 43.88 41.43 2.45 6%
TD Bank 76.75 72.58 4.17 5%
Richelieu Hardware 26.98 25.65 1.33 5%
EXCO 9.49 9.07 0.42 4%
Stella Jones 45.09 43.4 1.69 4%
Equitable Group Inc 61.5 59.56 1.94 3%
ATD.B 60.2 61.46 -1.26 -2%
Gildan Activewear 33.77 39.14 -5.37 -16%

Transcontinental was primarily a printing business(still the largest in Canada), but over the last little while have been making acquisitions to focus more on the packaging side of their business.  As you can see, their revenue has shifted dramatically from Printing to Packaging over the last 8 years.

Transcontinental Revenue By Sector

*Source: TCL Investor Presentation PDF


So why has the share price tanked?

There seems to be 3 main reasons the price has dipped a full 33% since July.

  1. Investors weren’t thrilled with the most recent quarter, as revenue was pretty flat
  2. The entire Canadian market has taken a beating
  3. Investors seem to still be valuing this as a printing company, when in fact, more than 50% of revenues now come from the packaging business.

There seems to be some fear that because the printing side of the business isn’t generating as much, there might not be any growth in the future, however, this is an experienced team, who, over the last decade has been making acquisition after acquisition to ensure they are well positioned for the future.  They have sold off multiple local newspapers, and purchased 3 new packaging companies just in the last 12 months.

Although revenue has been fairly flat, they’ve become very efficient, and reduced the cost of revenue substantially.   Their net income and earnings per share have been strong over the last 3 years, and they’ve also raised their dividend every year since 2001.

TCL is currently trading at just 7.2 X Earnings and pays a 4.16% (and growing) dividend to wait until the stock price catches up.

TCL Dividends


Transcontinental also seems to think they are currently trading at a discount, because they have been buying back shares over the last couple of days as well!

I haven’t pulled the trigger yet – but I think I might before the end of the month if the price stays low.

What do you think? Do you own TCL? Would you buy it at these prices?

Time to get excited Canada!

Soccer In Canada Has Never Looked So Good

No I am not referring to marijuana legalisation – though by all means – if you feel the need to have a quick toke before reading on please do.

It’s time, for probably the first time since 1986 to get excited about our Men’s Soccer team.  Yes you read that right – and NO I’m not high!

*Disclaimer*Before I start, I’d like to point out I am a HUGE supporter of our Women’s team.  I currently own a Sinclair Jersey, and I can’t wait until she breaks the all time record for goals.  I am also extremely excited to watch Jesse Fleming for the next 20 years, as I think she will be a superstar!  Now on with the post….

Unless you’ve been living under a rock, or don’t really give a shit about Soccer I’m sure you’ve already heard of Alphonso Davies.  He is the 17 year old wonder kid who plays for the Whitecaps in the MLS, and one day could be the most famous Canadian athlete of all time (no pressure).

Here are just a few of his accomplishments.  Keep in mind, he isn’t even 18 yet.

  • On May 15, 2016, he scored his first professional goal, making him the youngest goal scorer in USL history at 15 years, 6 months
  • Davies made his MLS debut on July 16, 2016, becoming the second youngest player to play in MLS
  • In June 2017, he became the youngest player to appear for the Canadian men’s national team
  • He was named one of the 60 best young soccer talents in the world in 2017.
  • On June 29, 2018, Davies was included in the MLS All-Star roster
  • Davies played his first game for the Canada Mens team at the age of 16, making him the youngest player to play for the national team.
  • Davies played for Canada in the Cold Cup – scoring 3 goals and winning the golden boot.  Davies was also awarded the “young player of the tournament” award
  • In 25 starts for the Whitecaps this year, Davies currently has 11 assists (tied for 7th in league) to go along with 6 goals.


Although the stats above probably give you a good idea of just how good he is, the fact that he was recently signed by Bayern Munich (one of the best teams in the world) for an MLS record fee of 22 million dollars should hammer home just how highly skilled and touted he is.

If you needed any more proof. Take a minute and watch this:


Aside from Alphonso Davies, here are 5 other young Canadian players to get excited about.

  1. Ballou Tabla- WingerEarlier this month, it was reported that 19 year old Ballou Tabla would play for Canada.  He could have played for either Canada or Ivory Coast, so the fact he chose Canada is a big deal, and I have to think he sees a the potential of this young Canadian team for the next decade or more.  Tabla is a skilled, fast winger, and will look great playing in front of Davies for the next decade or more. There aren’t many clubs in the world bigger than Bayern Munich where Alphonso signed, however Barcelona would be one of the few.  Earlier this year, Ballou Tabla signed a 5 year deal with the Barcelona B team, and included a buyout clause of 25 million euros for the first 3 years, up to 75 million for the last 2 years.
  2. Jonathan David – StrikerAt just 18 years old, it looks like Canada may have a bonafide striker who has a knack for scoring goals.  David was recently signed by Gent in the top division in Belgium.  In his first 5 games for Gent, he scored 5 goals.  David was recently called up to play for Canada and in his first 2 games he has scored 3 goals (including a beauty earlier this week set up by Alphonso Davies) in which he hammered it into the top corner 2 minutes into the game.
  3. Liam Millar – StrikerAnother Canadian signed by a top club – this time it’s Liverpool’s under 23 team.  Admittedly I have only seen him play once, and it was out of his natural position, but again the fact a top club is signing a 19 year old Canadian is great news for the future of our program (and quite frankly, something that was almost unheard of just a few years ago).
  4. Alessandro Busti – Goalkeeper18 year old Busti, just earned his first cap (and clean sheet) playing in Canada’s last game.  He currently plays for Juventus F.C Under 23 team.  Although Canada currently has a more than capable goalkeeper in Borjan, the future is bright with Busti officially in the system now.
  5. Zachary Brault-Guillard – DefenderCanada is in an unusual spot of having a wealth of attacking options, however the one area they definitely still need to improve is their backline.  This is why I included Guillard on my list.  He is currently playing in France for French club Lyon II, where he was recently appointed captain.  Like Tabla & Busti, Guillard earned his first cap for Canada in the recent 5-0 win against Dominica.

With all the attention Davies, and these other youngsters have been getting, it is easy to forget that Canada also has a few other bright spots in their lineup:

Junior Hoilett who currently plays in the English Premier League for Cardiff City is still only 28 years old, and should be a mainstay in the midfield for the next few years.  Although the opponent’s weren’t the strongest, in his last 2 appearances for Canada he has did score 2 goals.  Hoilett has a lot of offensive ability, and now has some other really talented players to play with on the national team.

Scott Arfield was recently named captain of the Canada team, and is just 29 years old.  He spent the last 2 years playing for Burnley in the English Premier League (scoring 3 goals).  This season he moved to the Scottish Premier league and plays for Celtic Rangers. In his first 7 games this season he already has 2 goals.  Scott Arfield is an all around solid midfield player who is responsible defensively but can play well with the ball as well.

Cyle Larin is still just 23 years old, and is just 3 years away from scoring 17 goals in the MLS & being awarded rookie of the year.  He has since moved on to play in the top league in Turkey for Besiktas. Although there is a lot more competition on this Canadian team at striker(David & Cavalliini), Larin should still get his chances to play, and with 8 goals in 26 appearances for Canada it’s easy to understand why.

Aside from the players, one last reason to perhaps get excited, is the new coach: John Herdman.

Over the last 7 years Herdman coached the Canada Woman’s team.  In that time they accomplished:

  • Gold medal at the 2011 Pan Am Games
  • Qualified for and won Bronze at London Olympics
  • Qualified for and won Bronze at Rio Olympics
  • Perhaps more important than the medals, he has really pushed for the growth of the game in Canada, development of young players, bringing soccer to the forefront in Canada, I’ve definitely seen big improvements in all 3 since his tenure began.

Although it has only been 3 games since he has moved to the Men’s team, I think it is important to note, they have won all 3 games, and broke some records along the way.  Sure the opponents weren’t the strongest, but I remember lots of close games between Canada and some weaker teams in years past.  In his first 3 games, Herdman has led the Canadian team to the following:

  • Beat New Zealand 1-0
  • Beat U.S Virgin Islands 8-0
  • Beat Dominica 5-0

The US Virgin Island win broke a record, for Canada’s biggest ever win.  The Dominica win tied a record for most goals ever scored on Canadian soil.

The next game for our National team is March 26, for our 3rd game in the Concacaf Nations Cup.  I’ll be watching, I hope some of you do too!