Tuesday, 17 March 2015

New Purchase - Fastenal


On March 16, I initiated a position in Fastenal.

Number of shares purchased
40
Price per share
$40.90
Commission
$9.95
Total cost per share
$41.15
Total cost
$1,645.95
Annual dividend per share
$1.12
Initial dividend yield
2.72%
Increase in forward 12-month dividends
$44.80

I’m following Josh Peters on this one.

My dividend income is now $8,094.51 per year.

On another note, I’m disappointed with my purchases of ACN and ETN. I purchased these in a TFSA account thinking there was no dividend withholding tax on Irish based companies. After receiving my first dividend from each company, I called my brokerage firm to ask why a dividend withholding tax had been applied. Turns out that to avoid the withholding tax on Irish based companies, I would have to pay an administration fee of $25.00 per quarter per stock! I like these companies, but despise the withholding tax. I might trade these two for something like DEO, RDS.b, UL or VOD.

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