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
|Symbol||Company Name||Date||Quantity||Buy Price||Comm/Fee||Total Cost||Yield||Income||Y Div||Q Div|
|IRM||Iron Mountain Inc||10/02/2020||3||26.72||0||80.16||9.26%||7.42||2.47||0.62|
|CSCO||Cisco Systems, Inc.||10/21/2020||1||39.29||0||39.29||3.67%||1.44||1.44||0.36|
|GD||General Dynamics Corporation||10/21/2020||5||136.76||0||683.80||3.22%||22.00||4.40||1.10|
|TSN||Tyson Foods, Inc.||10/22/2020||10||58.60||0||586.00||2.87%||16.80||1.68||0.42|
|PRU||Prudential Financial Inc||10/22/2020||8||65.77||0||526.16||6.08%||32.00||4.00||1.00|
|AXP||American Express Company||10/26/2020||6||98.43||0||590.58||1.75%||10.32||1.72||0.43|
|AXP||American Express Company||10/26/2020||12||96.36||0||1,156.32||1.78%||20.64||1.72||0.43|
|GD||General Dynamics Corporation||10/27/2020||5||135.86||0||679.30||3.24%||22.00||4.40||1.10|
|NNN||National Retail Properties, Inc.||10/27/2020||12||33.60||0||403.20||6.13%||24.72||2.06||0.52|
|AIG||American International Group Inc||10/28/2020||15||30.15||0||452.25||4.25%||19.20||1.28||0.32|
|CSCO||Cisco Systems, Inc.||10/28/2020||20||35.95||0||719.00||4.01%||28.80||1.44||0.36|
|AXP||American Express Company||10/28/2020||4||91.86||0||367.44||1.87%||6.88||1.72||0.43|
|JNJ||Johnson & Johnson||10/30/2020||15||135.86||0||2,037.90||2.97%||60.60||4.04||1.01|
|∑ = 172||∑ = 11,532.67||∑ = 334.64|
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!