This morning marked a pretty big event in the history of this blog... my first stock purchase. As alluded to in my previous entry I decided to make the jump and pick up shares of Altria. I bought 40 shares of MO at a price of $35.18 per share for a total cost of $1,407.20. This satisfies my monthly goal to invest $1,000. Most importantly Altria is currently paying $0.48 per share in dividends, increasing my yearly dividend by
$76.80 for a total new yearly dividend of $440.61.
This purchase brings me closer to my yearly dividend goal of $700. For the sake of challenge I have decided to alter this goal to attempt to hit $900 of forward dividends per year by the end of December 2014. With this new goal I have 10 months to increase my dividend by $459.39. I believe this new goal should provide a more adequate challenge as most stocks I invest in will likely not have a 5.4% yield like Altria.
This purchase weighs my portfolio rather heavily in the tobacco industry with my previous position in Phillip Morris. Going forward this will be corrected as I choose new stocks monthly and diversify my portfolio more.
Always remember to read my disclaimer before following me in any and all stock purchase decisions.
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