Thursday, November 12, 2009
The announcement was part of the third quarter results (full text here). Revenues were sligthly lower, a reflection of the country's weak economic growth. Meanwhile, the company is continuing with its capital expenditures program to complete its next generation wireless network (which will be completed in 2010) and continue its wireless broadband expansion. Personally, I also get the feeling that the company is bracing for the entrance of new competition in Canada be being cautious.
The lack of a dividend increase is a bit of a disappointment. However, the company also announced an amendment to the reinvestment plan to introduce a 3% discount on shares purchased by reinvested dividends. As a result of this, I am effectively getting a 3% increase in my dividend even though the nominal dividend remains the same.
Sunday, November 1, 2009
Assets ($165 447, up 6% from $155 973)
- Bank Accounts $4 907 (down 24% from $6 457)
- Emergency Funds $2 040 (up slightly from $2 038)
- RRSP Accounts $42 966 (up 4.8% from $40 993)
- Non-Registered Investments $18 351 (up 0.7% from $18 231)
- Home $96 330 (up 9.4% from $88 050)
Liabilities ($64 227, down 1.1% from $64 960)
- Credit Cards $4 384(down 10% from $4 902)
- Mortgage $59 613 (down 0.4% from $59 859)
- Line of Credit $0 (stable)
- Debt / assets: 0.388 (down from 0.417)
- House value / total assets: 0.582 (up from 0.565)
The repairs for the chimney were paid this month, which explain why available cash dropped. This brings me back to my usual range of about $4-5K in my bank accounts.
Although the markets were strong for the first two weeks of the month, the last two reflected more uncertainty. People are being told that the recession is over, so they expect things to be back to where they were before the downturn. Except that coming out of the recession is the quick part of it. The recovery, in terms of jobs and profitability, will take years. This is beginning to sink in.
Even though the markets were basically flat in October, my RRSP accounts went up. That's because one of my investments (Harvest Energy) is getting bought out at a premium to market value. As a result, the value of my investment went up.