Archive | 2.33

Added Just Energy into my RRSP

1 Mar

265 shares @ $7.82

I had around $2100 cash in my RRSP, and I wanted to buy a stock that will give me steady  dividend.  With this stock, it is a little more riskier.  Once again, this is a low investment with the prospect that share prices might go up with dividends coming into my account every quarter.

Recently, Just Energy has been battered by shareholders as they slashed its quarterly dividend — effective April 30 — to 21 cents (8.95%) from 30.999 cents (13.21% yield!) in an effort to fund growth and build a cash reserve to pay down debt at maturity. 

In the meantime, they gained 10% more customers so there will be more profits to be made down the road.  I will continue to monitor and assess their stock price as it could go lower.  But as it is sheltered in my RRSP, I have all the time in the world to let this play out till the end.