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4 New Year’s Portfolio Resolutions for 2018

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The new year is fast approaching, and most of us are contemplating our New Year’s resolutions. Beyond the usual resolutions of eating healthier, exercising more, and reducing whatever indulgence we engage in, what about investing?

The new year presents us with the opportunity to take a fresh look at our portfolio of investments and make some changes. Here are my four New Year’s portfolio resolutions to add for 2018.

Include an energy stock

Canada is blessed with an abundance of natural resources, and we have one of the most vibrant and active energy sectors on the planet. Chief among those energy companies is Suncor Energy Inc. (TSX:SU)(NYSE:SU), which is not only one of the biggest, but it remains one of the best investment options in the sector.

There are several reasons to consider adding Suncor to your portfolio. First, Suncor continues to provide impressive results.

Second, Suncor’s production, which is already improved over 10% year over year, is slated to increase even further in 2018 as several new projects are slated to come online in 2018. Throw in the fact that Suncor is becoming increasingly efficient in operations, and we are left with a lean, efficient, and profitable investment option.

As a bonus, Suncor offers investors a respectable quarterly dividend that pays a 2.79% yield.

Add a top growth stock

Growth stocks are like Christmas presents. Seeing the value of your investment steadily rise throughout the year is not only satisfying, but incredibly rewarding. One growth stock worth considering in 2018 is Alimentation Couche Tard Inc. (TSX:ATD.B).

Couche Tard is the name behind the Circle K and Couche Tard brand of convenience and gas station stores, with an impressive network of over 10,000 locations across North America, Europe, and Asia.

The company has an insatiable appetite for expansion, which is one reason the company makes such a great growth investment with massive potential. The company announced earlier this month the acquisition of Holiday Stationstores Inc. — a network of 522 stores and fuel terminal that spans across two states in the Midwest U.S.

Add a financial stock with growth and dividend prospects

Dividend stocks can be a lucrative way to grow your nest egg or provide a stable source of income. One of the best dividend options on the market right now is Bank of Nova Scotia (TSX:BNS)(NYSE:BNS). Bank of Nova Scotia is not the largest or most renowned of Canada’s big banks, but the bank has diversified into Latin America over the past few years, capitalizing on the growing Pacific Alliance trade bloc established between Mexico, Peru, Columbia, and Chile.

Bank of Nova Scotia established banking operations in each member nation, effectively becoming the preferred bank for businesses looking to operate throughout the trade bloc.

The move has proved lucrative for Bank of Nova Scotia, as witnessed by the strong growth emanating from the international segment of the bank with each passing quarter. That growth has helped propel Bank of Nova Scotia’s dividend to an impressive yield of 3.87%, and considering that additional countries are seeking entry into the Alliance, Bank of Nova Scotia is a perfect buy-and-forget type of investment.

Add a telecom dividend superstar

Canada’s telecoms are some of the best dividend options on the market, and BCE Inc. (TSX:BCE)(NYSE:BCE) has been paying dividends to investors for well over a century.

The current yield of 4.79% is not only an impressive payout, but it’s also a reliable source of income that investors can count on thanks to a massive empire of holdings that includes radio and TV stations as well as professional sports teams.

BCE also has and an impressive network infrastructure that stretches across the country and is the envy of competitors.

If that isn’t reason enough to invest in this buy-and-forget dividend superstar, then consider the growth opportunity presented by BCE’s recent acquisition of AlarmForce Industries, which allowed the company to enter the growing home automation market.

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Fool contributor Demetris Afxentiou has no position in any stocks mentioned. Alimentation Couche Tard is a recommendation of Stock Advisor Canada.

 

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