Bank of America is updated and rated Speculative (higher) Buy at $15.49. I believe now may be a good time to buy these shares. Its reported earnings are predicted to rise sharply as it puts the settlements related to the mortgage issues of the financial crisis behind it. I will likely add to my position. Bank of America shares will likely do better than the average U.S. stock over the next year.
U.S. stocks are well suited to RRSP accounts because the normal 15% withholding taxes on dividends does not apply to RRSP accounts. Also, most retirees will spend some money in the U.S. and so having U.S. investments makes sense. Regarding taxable accounts, the 15% dividend withholding tax is not something that should stop investors from buying U.S. shares and especially shares of a low dividend company like this one. (For taxable high-dividend shares it does make sense to favor Canadian companies.)
Canadian Western Bank rate reset preferred shares are added to the list and rated buy for fixed income. The 4.3% yield is not exciting. But is seems a reasonable alternative to cash. I first mentioned these shares back on January 31 when I bought at the IPO at $25.00 (with no time for analysis). I mentioned on May 6 that I had sold these at $26.00. The next dividend record date is next week, Thursday July 24. If you buy on Monday (and possibly Tuesday) you will get a dividend on July 31. But, in theory, the price will then drop by the amount of the dividend.