It’s been a pretty slow month so far with regards to new dividend stock purchases. I have some thoughts that I’ll quickly share, but I do want to be clear – I’m currently saving a little extra cash to put to work closer/after the election… here’s why.
We are weeks away from the election that could very well reverse the most recent corporate tax cuts in the USA. For this reason alone, I can’t imagine a change in President not having negative results on American corporations.
I have read several articles recently stating that markets will be sounder and stronger under Biden. However, after reading Biden’s tax plan, the plan seems to be a quick punch in the face to American corporation with a plan to raise corporate taxes from 21% to 28%. While I do believe the USA deficit needs to addressed and tax raises seem to be the only realistic and actionable solution to that problem… I’m currently just considering the market reactions to a Biden victory.
No matter who wins, the market will continue to move up – overtime. However, I would be silly for me not to put some extra powder away now to put to work later – just in case. I also want to be clear, I am still putting money to work now, just not as much. So, that is why this month’s dividend stock purchases are a little softer than normal.
I keep a running log of every dividend stock I purchase which can be viewed in the dividend growth stock purchases page.
So far, I’ve put almost $2,000 to work with an average yield of 4.2%. I’ve added almost $85 of yearly forward dividend income this month!
The $IRM, $TOT and $CSCO purchases were made via DRIP.
New Buys - October 2020
My dividend portfolio has been updated with these buys.
All additional purchases made this October will be posted on this page. My goal is to invest $2,500 – $4,000 every month. Although, last month I invested a little over $9,500!
2 Comments
Interesting portfolio, I also have positions that cross with you. For example, this year there was an opportunity to profitably buy Visa Inc, and I think that many took advantage of it))) I wish you success on your way!
Thanks Ilya!