I sold Husky Energy (HSE) last week at $29.25. Held it since Jan/12 when I bought it for $ 24.45. With the dividend I earned better than a 15% annualized return, but thought it was time to move on. I bought Husky when I was first transitioning to dividend investing, primarily because it had a nice yield at that time of about 4.8%. However, it has not increased the dividend since 2009 and not sure when/if the next increase will come.
I do hold other companies that have not had an increase for awhile (Sun Life and Crescent Point to name two) but both of these were yielding close to 7% when purchased, so I am prepared to be a little more patient with these . Also, I think Sun Life could return to be a dividend increaser in the next year or two.
Energy stocks makes up a large chunk of the Cdn index, but now that I have sold Husky I am down to two – Crescent Point and Baytex. I am fine with that, as energy stocks can be highly cyclical, which can make dividend predictability a little challenging. Not in a hurry to buy anything with the Husky proceeds. Have been watching a couple of stocks but I am going to see if they retreat a little more before buying. If not, I will look elsewhere. At the end of the day I would rather miss a stock I could have bought than make a purchase I end up regretting.