Today I exercised my option to buy 100 shares of M.
- M: 100 shares @ $32.00 --- Yield 4.72%
Total capital invested is $3200 (stock price) + $253.70 (option premium paid) + $30 (exercise charge) for a total of $3483.70. While the purchase price yield is 4.72%, the yield based on total capital invested is only 4.33%.This purchase will add $151.00 to my yearly dividends.
The stock price is trading around $37.30 range as I type this. Like many retailers, M has been hammered dropping from the $70s down to a low of around $30.
It appears as though M is in a recover stage right now, but slower foot traffic in malls will continue to problematic for companies like M. We'll see how this plays out.
Forward dividends are $3200.00.