First National announced a Special Dividend

If you’re the shareholder of First National Corporation (FN.TO), you probably know that you will get a juicy dividend in December. The company announced this Tuesday that they will pay a special dividend of $1.25 per shares on December 15, 2017. They generated excess capital and have decided to distribute that between the shareholders like you and me.

First National is Canada’s largest non-bank lender. I started to invest in FN.TO a few years ago when they had $80 billion of mortgages under administration. Back then, the shares were trading in low twenties, offering a dividend yield of around 7%.

Today, the corporation has $100 billion of mortgages under administration and still pays a decent dividend on monthly basis. Since I have 85 shares in my portfolio, I will receive a special dividend of $106.25. That will be a great boost to my dividend income.

Portfolio Value Update - September 2017

Portfolio Value
As of September 30, 2017 my investment portfolio balance stood at $47,625.76. That’s an increase of $1,614.58 from last month. It was the best performing month of 2017 in terms of capital appreciation. We have three months until the end of the year and I think I will reach my goal of $50K.