It’s been a while since I’ve given an update on my RRSP portfolio. I made RRSP contributions for 10 years when I worked in the private sector (taking advantage of employer matching contributions), but I changed careers in late 2009 and moved to the public sector. Now that a significant portion of my salary goes toward my defined benefit plan, RRSP contributions are no longer a priority.
This doesn’t mean that my RRSP portfolio will be neglected. I’ve thought about what to do with my RRSP for the last few years and decided that I will make small contributions each year, while continuing to reinvest my dividends.
There hasn’t been much buying and selling going on in my RRSP portfolio. I added to my position in Great West Life (GWO) in late September. GWO is the dog of my portfolio, as the insurance sector has been beaten up lately, but I thought it was too cheap to ignore at $20 per share.
I made a $2,500 RRSP contribution in early December and then opened a new position in Canadian Oil Sands (COS) later that month.
2011 was a good year for dividend increases. Scotiabank, BCE, CIBC, Fortis, Shaw Communications, Telus, and TransCanada Corp all raised their dividends last year.
Here’s a look at my RRSP portfolio as of March 2nd, 2012:
|Symbol||Shares||Book Price||Market Value||Yield|
This portfolio generates about $1,800 in annual dividends. I haven’t set up a DRIP with any of these stocks – instead, I prefer to let the dividends accumulate in a cash account until the right buying opportunity comes along. From there, I will either add to my current positions, or open a new position with another dividend growth stock.
There is a fair bit of cash sitting in this account that I need to put to better use. I have a few dividend stocks on my watch list, so hopefully I can find some good buys in the next few months.
What are you buying this year?