Today I purchased more shares of PM.
- PM: 38 shares @ $79.81 --- Yield 5.01%
Total capital invested is $3042.78 which will increase my yearly dividends by $152.00.
Obviously I thought yesterday's PM price of $81.95 was good so why not buy some more today. I wanted to take advantage of today's big market slide and was paralyzed looking at all the choices. Thanks to interest rate fears, companies like HCP and SO have fallen close to $10/share in the last month. T has been drifting lower. Stalwarts KO and PG have great yields and are companies to buy and own for decades to come. I don't even have to talk about XOM, RDS, BP, and CVX.
At the end of the day, I have too much exposure to energy, not that I won't be adding more shares in the future. I just like the yield and defensive nature of tobacco companies and since PM continues to underperform MO, I decided to add once again.
Forward dividends from MO and PM now exceed $1000/year. That has to be a good thing.
I have now regained approximately 75% of the income that I lost from the ESV cut.
I hope everyone has a great weekend!!!!