Friday, January 18, 2008
Another New Year, Another New Update!!
As well, thank you everyone for patience. I hope that the time between updates will not be so long in future.
I have added the following new plans:
1. Builders Energy Services Trust (BET.UN)
2. Charter REIT (CRH.UN)
3. Deepwell Energy Services Trust (DWL.UN)
4. Enerflex Systems Income Fund (EFX.UN)
5. Energy Savings Income Fund (SIF.UN) – NOTE: 500 shares needed to enroll
6. EnerVest Energy & Oil Sands Total Return Trust (EOS.UN)
7. Extendicare REIT (EXE.UN)
8. Fairway Investment Grade Income Fund (FGF.UN)
9. Fording Canadian Coal Trust (FDG.UN)
10. Huntingdon REIT (HNT.UN)
11. InStorage REIT (IS.UN)
12. Killam Properties (KMP)
13. Long Reserve Life Resource Fund (LRF.UN)
14. Macquarie Power & Infrastructure Fund (MPT.UN)
15. Medical Facilities Corporation (DR.UN)
16. Oil Sands Sector Fund (OSF.UN)
17. Precious Metals and Mining Trust (MMP.UN)
18. Sentry Select China Fund (CHZ.UN)
19. Shaw Communications (SJR.B)
20. Strategic Energy Fund (SEF.UN)
21. Superior Plus Income Fund (SPF.UN)
22. Top 10 Canadian Financial Trust (TCT.UN)
23. Uranium Focused Energy Fund (UF.UN)
24. Westshore Terminals Income Fund (WTE.UN)
I have updated the following plans:
1. Alcan Aluminium Incorporated- firm taken private by Rio Tinto
2. Amalgamated Partnership Income Units - DRIP suspended
3. Bonnett's Energy Services Trust - DRIP suspended
4. Canetic Resources Trust - merged into PrimeWest Energy Trust
5. Cominar Nihon REIT – changed name to Cominar REIT
6. Daylight Energy Trust - name changed to Daylight Resources Trust; Minimum amount changed to $1,000 from $2,000 while the maximum changed to $100,000 per month instead of $100,000 per year
7. Enbridge Incorporated (ENB) - 2% discount added
8. Ipsco Incorporated - firm taken private by SSAB Canada Inc.
9. MCAP Incorporated - name changed to MCAN Mortgage Corporation (MKP)
10. MDS Incorporated - DRIP suspended
11. PrimeWest Energy Trust - firm taken private by the Abu Dhabi National Energy Company, also known as TAQA
That's it for now. As always, if you see any discrepancies please post a comment.
Great prices on Brand New business books!
I use TD Waterhouse. They are convenient but I don't know if they are the best. BMO InvestorLine usually ranks among the best. However, neither of these are the cheapest.
I would recommend asking this question on the "Beginner's Corner" board at http://www.dripinvesting.org/Boards/Boards.asp It's a site exclusively for DRIPpers and a lot of people there are using discount brokerages. I am sure they will have more than enough information for you. Since I frequent the boards often I will see you there!
This is a great site though, thanks for doing all this work!
Vermillion Energy trust has discontinued both the Share Purchase Plan and the Dividend reinvestment plan. SPP in early 2008 and DRIP a few months ago.
I've started initiating my 6yr old boy to the finance world. He has his own little bank at home in which he keeps currency from dozens of countries, he has his own savings account in which he follows and deposits funds.
I want to investigate the possibility of investing directly in blue chip companies. What do you suggest for a 6 yr old? I want to incorporate a 'fun' factor, something to get him really excited about it .... more so than he already is.
Looking forward to your insight,
Canada does not have a lot of kid-friendly DRIPs unfortunately. Whereas the U.S. has company's like Disney and McDonald's, our DRIPs are mostly in the financial and energy sectors. If you wish to stay in Canada, you might want to incorporate some banks (BMO, CM or BNS - can't go wrong with any of them), a gas company (SU or IMO - he's gonna grow up someday and wanna drive) and perhaps Telus (he's gonna wanna cell phone soon enough).
In a couple of books by Derek Foster he talks about setting up DRIPs for his kids. You might want to have a look at what he's chosen.
This is just my two cents. What does eveyone else think?
Actually, he gets really excited about banks. His uncle is a high level retired banker. He often has 'meetings' with him!
I am a customer of BMO and Questrade ..... who would you suggest for a DRIP account?
Thanks again ..... at 6 yrs of age, can you imagine what a regular investment in blue chips will look like when he gets older!
Not sure what you mean by this: "I am a customer of BMO and Questrade ..... who would you suggest for a DRIP account?"
If you mean should you use BMO's DRIP versus a synthetic DRIP within a brokerage, the company's DRIP is always the better choice. Here's why. The synthetic DRIP will only reinvest whole shares and leave any fractional amounts as dollars within your account. So, if you get $50 in dividends and BMO is trading at $45, then you will get one share reinvested and have $5 left in your account.
Whereas with the BMO program you get the whole dividend reinvested. You would then get 1.111111 shares posted to your account. Plus, you don't have to pay the initial trading fee to purchase the BMO stock in the first place.
What I meant is I have brokerage accounts with Questrade and BMO Investorline.
You answered my question .... better to deal directly with the companies we will choose to invest in. Correct?