Friday, October 24, 2008

added Scotiabank

Yesterday I added to my position in Bank of Nova Scotia (BNS) at $37.60. The Canadian financial institution was yielding 5.2% on my purchase price. Scotiabank was trading near a 4 year low with a P/E of 10x earnings.

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Nurse B, 911 said...

Might as well add on weakness since it's spreading like the plague.

In all seriousness - for a long-term investor focused on dividends the company is still very cheap. While I would love to add I can't over-weight my positions too much. Gotta put on that portfolio management hat and be a good stock picker :)

Nelson said...

If you're still interested, feel free to post my article on Pissing off Dividend Growth Investors. Here's a link:


Big Cajun Man said...

I just can't be sure this is the right time yet for banks, maybe in a few more days. I must admit I bought some BMO, but only for dividends.

MG (moneygardener) said...

This add was a easy decision. Yielding over 5%, extremely slim chance of a dividend cut.

Forex said...

I agree with MG. I am not exactly confident about trading near a 4 year low with a P/E of 10x earnings.
Forex Income