Over the months of 2018 BNS has been getting rocked and hit prices not seen since December 2016. Today I picked up 25 more shares of Bank of Nova Scotia at $70.05. When updating my spreadsheet I noticed October 23 was my 10th year anniversary of holding BNS.
Originally, I purchased 50 shares of BNS on October 9, 2008 at $42.00 and sold October 17, 2008 at $46.01. Then October 23, 2008 re-purchased at $40.50. A month later, averaged down with 45 shares on November 20, 2008 at $38.80.
The TSX on October 23, 2008 was at 9,331.40 fluctuating from there until November 20 when the TSX tumbled to 7,724.80. I looked it up and https://www.thestar.com/business/2008/11/20/tsx_falls_over_750_points.html there was a 765.80 point drop on that day. Today, TSX is at 14,924.08.
My 2008 dividend was an annual $1.92 with a Yield to Cost of 4.823%. Whereas the 2018 dividend has increased 70.83% to $3.28 and through Averaging Up my Yield to Cost of 5.147%. Otherwise, if held at the original price the Yield to Cost would have been 8.24%.
At the height of my holdings February 26, 2016 I had accumulated a total of 1,000 shares, but eventually reduced my position for the purchase of my dwelling (and with that the cessation of my 50K Report.). My current holding has been reduced to 425 shares.
I wish I could remember what I was thinking back in 2008, especially since this holding would have represented a significant amount of my money. Evidently, I held and turned on the DRIP with the next purchase of 1 share on May 4, 2009 at an even lower at $34.74. From there on subsequent purchases were at increasing prices.
This has been a core long term holding and will likely continue to be.
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