Month: September 2015

Dividend Cut: Pengrowth Energy Corp. (TSE: PGF)

Dividend Raises

On September 1st, Pengrowth Energy Corp announced they would cut their dividend by 50% from $0.2 per share to $0.1 per share.

I’d like nothing more than to dump my shares of PGF, as it’s been my worse investment, by far. I’ve lost roughly 55% of my investment in PGF and don’t even feel comfortable selling now, in hopes that the stock price could appreciate in the future and I could recoup some losses.

It was one of my smallest investments as I felt it was a risky business to enter in the first place, and it was one of the first four stocks I had purchased at the beginning of my investment career. I’ve learned a lot since then, and have gravitated towards safer, blue chip companies with proven track records.

This, combined with Goldcorps’ 60% dividend reduction have put a damper on my monthly dividend income.

There are a lot of energy companies which have been selling for less and less, delivering attractive valuations, especially with the recent market volatility. If I were to continue investing in energy, I’d definitely pick a more reputable stock with a greater track record. Following are some names which I have an interest in, but must do more investigating.

 

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