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
BMO 60 $52.21 $3,469.80 5.36%
BNS 45 $42.64 $2,414.25 4.88%
BCE 80 $24.52 $3,249.60 8.85%
CM 32 $60.29 $2,461.44 5.97%
FTS 100 $29.28 $3,278.00 4.10%
GWO 150 $26.32 $3,475.50 4.67%
LIQ.UN 160 $12.14 $2,752.00 8.90%
REI.UN 130 $14.75 $3,572.40 9.35%
SJR.B 100 $20.38 $2,038.00 4.76%
T 85 $31.74 $4,863.70 7.69%
TRP 60 $37.91 $2,604.00 4.64%
COS 140 $20.71 $3,283.00 5.80%
CASH $8,098.48
TOTAL $45,560.17 5.26%

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?


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