Part of my plan to make my portfolio more efficient involves putting all my shares of certain holdings in one account. Since I bought the same amount of Telus shares for my taxable account that I held in my RRSP in March, I've been looking to sell those shares in my RRSP in order to avoid being VERY overweight Telus. Having stuck around for another dividend holder of record date, I sold the shares of Telus I owned in my RRSP on Monday when shares were up a couple percentage points. Although Telus remains my largest holding due to their impressive record of reliably increasing their dividends semi-annually at a rate of ~10% per year, I now hold all my shares in my taxable account.
With the proceeds of the Telus sale, I promptly initiated a position in Alaris Royalty Corp. Over the last twelve months, I've owned Alaris a half dozen times, but sold each time to capture small profits ($100-$300). Although I wouldn't guarantee that I won't do the same this time around, I genuinely would like to build a full position in this Canadian royalty company with a long record of regularly increasing their dividend as they invest in new companies and collect a growing stream of royalty payments. Simply put, I feel Alaris is the only true private equity type company traded on the TSX with a diversified portfolio of investments. I was able to initiate my position at a dividend yield of over 5% (due to a recent increase), and a respectable P/E ratio of 17.5X.
On a more frustrating note, as the Eurozone situation regarding the potential Greek default appears to be clearing up, the markets seem to be incorporating a deal being completed that would avoid the "Grexit". With a considerable amount of cash to deploy, I'm hoping for a dose of pessimism to hit equity values in the North American market in the short-term so that I can buy two companies' shares at more attractive prices, in order to complete my portfolio transformation. Here's hoping for some Greek turmoil!
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