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Wednesday, November 14, 2012

My American Express credit card balance is about to be paid off REAL soon

I wasn’t expecting the money so soon, but I actually received the money of my provincial court appearance in New Brunswick. I received a cheque, which I am going to do a photocopy of a frame as a souvenir that well, you know, I am a fighter and you truly don’t know me. I am might had scared them to death. The other party was represented by a lawyer, I wasn’t. But it’s not because I didn’t have a lawyer that I was to let it go. In my world, you need to give me what I want. And what I want is what I get. LOL. 

This is great because I am going to have enough to money to pay off entirely my American Express. I have that special interest rate at 0.99% good until December 7. I am going to pay it all by the end of the week. I am waiting for a paycheck this week, so I am even going to have a leftover to put on my margin account.  

These days, the stock market is very rough. I did a risky investment move in Héroux-Devtek Inc. (HRX) earlier this week, but I don’t regret it. I was very aware from the start. Special dividends are the invisible diamonds that I wear every single day. How in the world can a girl, especially a Dividend girl by the way, resist the temptation of receiving a 5$ special dividend? Explain please. There’s no explanation to be provided, you must know the girl by now. It’s kind of wild, isn’t?

My investment in Héroux-Devtek Inc. (HRX) will provide me close to $300. It will barely be enough to cover my Christmas gifts, my bus ticket to New Brunswick and Gravol pills for the run. Its feeling great to be able to clear up the balance on my American Express. Their 0.99% interest rate for one year or something like it was very generous. Thank you, American Express credit card!
My money problem is quickly being resolved. I will be back in the investment game in December! One thing doesn’t wait for the other one. At this time, I want to secure my portfolio. The only way to secure it would be to pay off that 50k margin that I have on my non registered portfolio. Nicely said, but do I only earn 50k in a one year salary? The answer is NO. Until I married a rich man or until I finished dead rich – until that time – we’ll have to take it one step at a time. I always had been an extra lucky girl. I even should get a few bucks from my freelance work by the end of December. My American Express is my only consumer debt. Being able to get rid of it is a blessing. What I need now is a few more weeks (not to say YEARS) of full-time employment work and I will be just fine. 

In other words: don’t expect me quitting the workforce anytime soon.

Bye for now.


Christine said...

Watching to see how your investment turns out. I had no idea companies did this!

Anonymous said...

You're not making $300 from the dividend. You just gave the company $300 and they're giving it back to you a week later minus taxes. You're lighting money on fire.

Anonymous said...

you are losing on this deal. $500 - taxes and a $500 minimum capital loss...

Ruth said...

what does the company gain by this?

Anonymous said...

Well its Ex dividend Nov 21, 2012 for HRX. Lets see whats happening. Yesterday it opened at 13.00 and fell to a close of 12.34. Today it opened lower than the close, came up to yesterdays’ close and seems to have now buried itself around 12.10 on spiked volume selloffs.
Sunny: did you pull the trigger? I hope so.
Now lets get to the dividend: it will either be a dividend or a dividend plus a return of capital. Different tax implications for the two if in a non-registered account. The money comes from an asset sale (discontinuance of operations). So its really a return of shareholders money anyways.
Ruth: Why? Well, maybe for a whole pile of reasons. Might be interesting to see the insider trading before it went EX using Rights to take advantage of the share price hike (hey, the directors are always down for a free ride, right?). Three investment firms are expected to make millions off the special payout. Will they dump and run? Watch the volumes in the next few days. Now what about HRX’s future? Discontinued operations. Loss of revenue. Will the landing gear pick up the slack, or will it crash land? Can the slack be picked up without further capital expenditure/borrowing? Does someone know something we poor illiterate masses don’t? Is there a reason to suck the cash out of the company, and why now? Its all in the tea leaves.

Anonymous said...

Ex-Dividend is dec 20


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