As many readers might recall, Brian and I split our retirement savings between our RRSPs and our Tax Free Savings Account. In my TFSA, I hold exclusively dividend paying stocks which I hope will one day be the basis of my early retirement income. Right now, I have BMO, SLF, RSI and REI.UN in my portfolio.
For a while, I had been holding strong at 81 shares of BMO, which got me a quarterly dividend of $59.94. Back when BMO’s shares were trading in the $50s, that was perfect for a slow DRIP. But, their share price has been steadily increasing and regularly hitting new 52-week highs. I needed to buy more shares in order to DRIP again, but for the last few months, I didn’t quite have the cash on hand because I was buying up other stocks that were cheaper.
Unexpectedly, I had the opportunity recently to finally get my ...
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