New Buy Canadian Imperial Bank of Commerce (CM)

05 Jul 2016 16:59

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I've been looking to add a bank stock to my IRA portfolio and was attracted to Canadian banks, in particular Royal Bank of Canada (RY) and Canadian Imperial Bank of Commerce (CM).

I have finally got off my backside and pulled the trigger buying 67 shares of CM at $74.60. CM is currently yielding 5% and will add $250 to my annual dividend income. RY is a good stock and there is a fair chance I will pick this up down the road but for now I am happy the CM purchase.

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