Wednesday, 19 October 2011

Sun Life Financial Position

On Monday Sun Life Financial (TSX: SLF), one of the largest insurance companies in the country announced their estimates for their third quarter. They expect to report a loss of $621 million dollars. For me, that's great news. I took the opportunity to increase my position after the stock tumbled 9%. I now have enough shares to generate one share with the dividends that are distributed every quarter, which sets everything up for a synthetic DRIP. This is especially attractive because Sun Life Financial offers a 2% discount with their DRIP. Now all I have to do is have a little chat with my broker and the compounding machine will be ready to go.

-the Paperboy

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