Friday, February 15, 2013

Sold Power Financial Corporation

After collecting a dividend payment from Power Financial Corporation ("PWF") on February the 1st, and watching the stock price run up to near it's 52-week high, I decided to sell my shares of PWF earlier this week. As stated in a previous post, PWF had not increased their dividend in the past 4-years, which was my main reason for selling.  Another contributing reason to the sale decision was my belief that Canadian retail investors will no longer tolerate the high-cost mutual funds sold by PWF's sub Investor's Group, and will instead switch to low-cost index funds.

I'll also admit to seriously considering selling my shares in SNC Lavalin earlier this week, as the share price rebounded to a position where I was above water on both of my holdings (in my TFSA and non-registered account). I decided to wait until SNC releases their FY12 year end results, as I feel the market will irrationally push SNC's stock up even further given projected revenue growth. I'm also wondering if the company might decide to reward shareholders with an increased dividend for sticking with them through a scandal-filled year. Fingers crossed!

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