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February Stock Considerations

As another new month approaches I am reminded to, once again, look at my portfolio holdings and decide where to deploy my fresh capital for the month. Looking back at the month of January, I have seen additional declines in the large Canadian bank stocks. No doubt, this was in direct correlation to the continued weakness in oil prices and the seemingly linked nature of the Canadian oil sand companies and Canadian banking stocks. It seems that none of the large Canadian banks were spared as declines in The Toronto-Dominion Bank (NYSE:TD), The Bank of Nova Scotia (NYSE:BNS), Royal Bank of Canada (NYSE:RY), Bank of Montreal (NYSE:BMO) and Canadian Imperial Bank of Commerce (NYSE:CM) were rampant. Of course, as a long-term dividend growth investor, I simply see this continued weakness as further opportunity for my fresh capital to provide above average current yield while continuing to participate in continued growth among the dividend distributions. Being able to average down on some of my current holdings doesn’t hurt…