I did a customized stock screen last week where I looked at companies with a history of paying/increasing dividends, strong EPS growth and trading at reasonable P/E. My last post highlighted some of the companies I was torn between and finally today I pulled the trigger on two of them.
Alimentation Couche-Tard (ATD.B)
I’ve had my eye on Couche-Tard for over a year now, and with the recent price pull back – coupled with the fact I had some cash on hand I figured I had to jump in. I scooped up 125 shares @ $59.00 each. Although the dividend only yields 0.61% I think the long term capital growth potential and dividend growth potential will keep me happy for years to come. I am hopeful they will get into the soon to be legal Marijuana business as well.
The addition of these shares will boost my dividend income by $45.00
Intertape Polymer Group (ITP)
This was a stock I didn’t know much about a couple of weeks ago – but it showed up on my stock screen and after doing a bit more research I thought the price was too good to pass up. The business itself is boring, but it has paid and increased the dividend for over 5 years (yields 3.5%)in US dollars, has increased earnings year over year and was trading at a 30% discount to the 52 week high. I purchased 275 shares @ 19.08.
The addition of these shares will boost my dividend income by $192.50 (at current exchange rate).
Both purchases were made in our TFSA so all gains & dividends will be tax free.
I am still keeping my eye on Andrew Peller & Exco Technologies. Hopefully the next time I have some cash on the sideline they are in my buy range.
Moneymaaster 