RE:RE:Remember when I said ...Hey Dean
Nice to hear from you. All is top-shelf down this way. I hope all is going well for you.
You sure made the perfect move on AQN with the KPC announcement. It's funny that I posted how disgusted I was with the announcement and how I figured I should trim half. I debated it for a while but then got suckered into the CEO and Board rhetoric.
I'm a tad slow on learning that lesson as I've been burnt 3 times now with ALA and WGL, IPL and Heartland, and AQN and KPC. All 3 of the annoucnements said how great it was going to be for long term dividend growth and then all 3 slashed their divy big time - ALA by 56%, IPL by 72%, and AQN by 40%.
As I've mentioned, we're now down to only 13 holdings so this really big kind of thing (proportionally) is unlikely to happen but if it does, I'm definitely selling half of that company before I even think about it. As I see it with how big the market cap is for most of our holdings, the only potential really stupid one is PPL buying TMX.
Take her easy and all the best for your continued investing success
Sarge
DeanEdmonton wrote: Sarge - Hope all is well. Good update. As you know, been on the sidelines of AQN as soon as they announced the Kentucky deal. With Banditota gone I am watching for a change in the Board and a begiinning of AQN's recovery. Once I see that I will initiate a position, but as long as the Board shows no strong direction or strategy and still too much leverage, to me it is premature to get in. All the best.
SargeX wrote: Just to come clean and update our AQN holding. A while back, I said that I was confident that AQN would eventually get to $14 and I woud think about trimming when it did. As time has gone on, I starting thinking of hedging my bet a little and doing some trimming. I also realized that with some of our other divy stocks getting beat up that there were better opportunites in those companies.
So I decided to gradually reduce our 20,230 shares by 6735 down to 13,495 at an average sell price of $10.78. The net AQN result for 2023 including some previous short term trades is a profit of $11,794. I spent most of the sell dough on other stocks but kept an extra $2718 in cash. Also, our annual dividend income has increased by $326. Lastly, we had one non-reg account that had a way higher buy price than our avaerage across all our accounts and I sold all shares of that account for a capital loss tax saving of $4658. (offset our big cap gains on selling off FTS).
Bascially, as I view it, we gained on a number of fronts with realizing a decent profit, keeping a little extra cash, adding to our annual dividend income, and saving some significant taxes.
If AQN does get to $12.50 or so, I will think about trimming more and maybe starting a position in ACO.X (to keep our same utility weighting).
Ciao
Sarge