Recent Purchase: Emera (TSE:EMA)

Last week I posted my top three picks for October: Emera, Canadian Utilities, and AltaGas. I decided to invest more money in Emera since it was the smallest position compared to other two holdings. I bought 26 shares of Emera and I paid $38.97 per share.

Emera Holding
With the recent purchase I now have 49 shares of Emera. Eventually I would like to hold at least 100 shares so I have enough room to add more shares if the stock price goes down. 

Average Cost
When I initially bought Emera, in July, I paid $42.65 per share. This week I paid $38.97 per share and lowered the cost average to $40.69. 

Dividend
At the current price the stock yields 6%. With the purchase of 26 shares, I increased my yearly dividend income by $61.10. The ex-dividend date is October 31 so it was the perfect timing to increase my position.

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Let me know what you think of Emera and would you buy it at the current price.