Monday, March 10, 2014
March 2014 Stock Buy
It's stock buying time and here are my results for March 2014. I may need help because it seems like I have an addiction... to tobacco stocks. This morning I purchased 13 more shares of PM (Phillip Morris) at $80.24/share for a total cost of $1,043.12. This satisfies my goal of buying at least $1,000 worth of stocks each month, but most importantly PM is currently paying $0.94 per share quarterly increasing my dividend by a total of $48.88 per year for a new forward yearly dividend of $492.09.
In order to reach my goal of $900 in forward yearly dividends by the end of the year I would need to invest about $13,600 or about $1,510.8 per month at a 3% return rate. This is going to be a serious challenge because I have recently made an offer on a new house which if successful will eat into my emergency fund. If this new house deal goes through I will more than likely stick to my $1,000 per month while I refill the war chest. Regardless I am confident that I will meet my original goal of $700 per month in forward dividends.
My portfolio has been updated to reflect this new purchase.
Disclosure: Long PM
What stocks are you buying this month?