Portfolio Update – Sun Life Financial Sold

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For those new to the blog, I like to keep my readers up to date on portfolio changes. One of the reasons I started this blog was to educate others, but also to improve my own investing. By keeping an open book of my portfolio and changes to it, I hope to generate discussion so others can see how I put my investing philosophy into practice. My main goal is financial freedom. I plan to achieve this goal by investing in quality dividend growth stocks and using the dividend payments to cover my expenses.

Today (January 15, 2014), I sold my shares of Sun Life Financial (Trend Analysis) for $38.15. With the $5 commission my average selling price was $38.10. I first purchased these shares on September 12, 2011 for an average price of $24.01. The total gain without dividends works out to 58.7% and my annual return without dividends is 21.9% CAGR. When you consider that my yield on cost was 6% this is a pretty decent return. Overall I’m happy with the investment.

Why did I sell?

I’m a

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Hey Sun Life, Where’s My Dividend Growth?

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I’m sorry to say, that it doesn’t look like dividend growth from Sun Life Financial is going to happen for a few years. Because of this I decided to sell my shares. My investing style is to buy quality dividend growth stocks at attractive prices and collect the increasing stream of dividend income in order to eventually support my retirement expenses. Most of the time I try and hold onto a stock for a long time, but there are some situations where I consider selling. One of these considerations is stalled dividend growth. I sold my shares of Sun Life Financial because I am a dividend growth investor, not a dividend investor (note the key word that’s missing: growth).

Related article: In What Conditions Would I Consider Selling A Stock?

Dividend history

The last dividend increase from Sun Life Financial came with the dividend recorded in February 2008 when it increased the quarterly dividend from $0.34 to $0.36. Since then the dividend hasn’t changed.

If we look at the dividend history going back to 2001 we

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