Welcome to the family: BNS

This week, I welcome BNS to my DRIP family.

I’ve wanted to own BNS for awhile and with the market downturn last week I made a small purchase.  I’ll be setting up my DRIP and OCP within the next few weeks. Although my portfolio is already heavily weighted in the financials, I don’t see BNS as any added risk.

In Canada (and the US for that matter) I always say “if the banks aren’t making money, nobody is”. Needless to say, I feel good about my purchase.  BNS weathered the 2008/2009 financial storm pretty well, and I believe they did so because of their diversification, with operations in the Caribbean, Central America, Latin America and Asia. I also made my purchase based on the following facts: BNS has paid dividends for over 150 years and has raised their dividend almost every year for the past 35+. Few dividend stocks can make those claims.

BNS recently closed over $47; and is paying $0.49/share; yielding ~ 4.1%.

My name is Mark Seed and I'm the founder, editor and owner of My Own Advisor. As my own DIY financial advisor, I've surpassed my goal and I'm now investing beyond the 7-figure portfolio to start semi-retirement with. Find out how, what I did, and what you can learn to tailor your own financial independence path. Subscribe and join the newsletter! Follow me on Twitter @myownadvisor.

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