Wednesday, 6 November 2013

Sold BNS and IFC, 100 INTC Shares Called Away


I recently sold BNS and IFC to raise money for home renovations.

Bought 125 shares of BNS @ $59.75 and sold @ $63.48 for $466.25 in capital gains + $227.50 in dividends. Total return of 9.3% over 7.5 months.

Bought 100 shares of IFC @ $58.70 and sold @ $65.53 for $683.00 in capital gains + $88 in dividends. Total return of 13.3% over 6 months.

Both these companies were held in my margin account. The plan is to repurchase shares on margin @ 4.25% interest. That way, I can deduct the interest on my income taxes where as a home renovation loan is not tax deductable.

I also had 100 shares of INTC called away. I had sold 2 calls on August 29, 2013 (2 INTC January '14 $21 call @ $2.18 (+ $12.45 commission)).

These transactions have reduced my forward 12 month dividends by $575, which now stands at $5,086.98.

No comments:

Post a Comment