Dividend Growth Investment for December 3rd, 2024

Good Morning,

I wanted to let you know that I added to the position I initiated last month. The company I invested in is a dividend achiever with a 28 year track record of annual dividend increases under its belt. It has a 5 year annualized dividend growth rate of 9.80%. The stock sells for 21 times forward earnings and yields 2.20%. It operates under a duopoly/oligopoly (based on how you look at it).

This is a Canadian based company, which has operations in Canada and US. I am buying it in my retirement account, which means that I will not be assessed the witholding tax on Canadian dividends at source.

I view this stock as a long-term bet on the economic growth of North America.