During March, the portfolio received its first inflows of dividends totaling $18.48, hooray! The sum may be humble, but give it a few years and the portfolio will grow into a beautiful little cash machine, toot toot!
In other news, the portfolio has broken $3,000, so that’s neat. As of April 4th, the preferred stock portfolio has a value of $1,492.14, and the portfolio’s 5yr, 5% GIC portion is now worth $1,518.70, for a total value of $3,010.84.
At the beginning of April, I invested another $250 into the account, and purchased another portion of Great-West Life Co's 5.4% Series P Non-Cumulative Preferred Shares (TSX:GWO.PR.P) at a price of $22.19 per share. Because I get charged a $10 commission on preferred stock trades, I only end up investing $240 whenever I make a preferred purchase. That $10 is 4% of $250, which means I lose 4%, or about 2/3rds of the first year’s dividends to make up for the commission.
As a result, I’m exploring potentially keeping purchases to every two months to save on commissions, but maths must be done before I’m sure, as the yields on preferred stocks are quite good right now, in a way where a 4% penalty might not be such a concern over the long-term. Expect fully formed thoughts next update!
As for articles, I’m going to get back to writing more soon! I have a ton of stuff on the go until mid-May, with a big conference in Omaha and a book to publish, but I’ll be buzzing about wherever is helpful. In the meantime, I hope you all have been deriving some value from the blog, and I look forward to learning more together soon!
Thanks for tuning in ❤️
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