Dividend Growth Stocks

Money in the Trough – The Dividend Portfolio Grows in July

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With all this flapping about with Greece and the Chinese markets, I saw an opportunity to make a couple new purchases.  Unfortunately, I don’t yet have money in the new brokerage account, so I have a limited amount of capital to invest at the moment.  But even small purchases are good purchases, right?

I can’t say that I timed these purchases particularly well, but I wasn’t going to miss a decent entry in an attempt to try and time a bottom.

I purchased Wells Fargo (Ticker Symbol: WFC):

Purchase Date: 7/7/15
Company: Wells Fargo – (WFC)
Buy price: $55.45
Shares bought: 16
Yield: 2.74%

I have watched Wells Fargo continue to rise over the last few months and kicked myself for not buying in the high 40s.  Since I had a limited amount of money anyway I figured what the heck and entered a market order.  My $887.20 in Wells Fargo (WFC) adds an additional $24 of yearly dividend income at a 2.74% yield.  I would have rather purchased at closer to 3% yield but I’ve been craving a little banking to round out the dividend portfolio.

Next, I purchased another stock I had been watching for quite some time.  I finally clicked the button and purchased 3M (Ticker Symbol: MMM):

Purchase Date: 7/7/15
Company: 3M – (MMM)
Buy price: $154.20
Shares bought: 9
Yield: 2.65%

This $1387.80 purchase adds $37 of additional dividend income to the portfolio.  Once again, I could have waited for a better price but I have a feeling the market will shoot up after Greece gets their new bailout (they won’t leave the Euro) and the Chinese government jumps in with both feet to fix their falling markets.

Between the two new purchases I invested $2,274 and added $61 of annual dividend income.  However, these purchases bring down my overall portfolio yield to 3.5%.  I was hoping to round out the overall portfolio yield closer to 4% by the end of the year.  I guess I have some work to do!

All in all, not a bad day.  Had I waited another day or two I could have gotten better entry points, but I’m not a day trader so a half percent isn’t going to spell the end of my plan to retire in 10 years.

Did you make any purchases during the latest dip?

I'm a dividend growth investor who is aiming to retire early in 6 years at the age of 45. My goal is to live off the income my dividend portfolio and rental property produce exclusively and leave the corporate rat race. I hope you will join me in this journey!

4 Comments

  1. I made similar purchases during the dip. I bought MMM at around $153. Glad to be a fellow shareholder.
    D4s

    • Blake

      Hi D4s,

      Nice entry point on 3M! I think we made a wise decision. My only regret is that I didn’t buy more!

      Thanks for dropping by!

  2. Solid buys Blake! I’m sure the dividend growth of those two stocks over the years will more than make up for decreasing your current portfolio YoC. So far this week I have purchased F, EMR, QCOM and BLK. Exciting times!

    Ken

    • Blake

      WOW!

      Nice work Ken! Looks like you don’t mess around when you see deals. Thanks for bringing up QCOM. It hasn’t been on my watch list but it looks like it could be a real winner! I’ll have to do some more research on it.

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