The market and my activity have been rather quiet during the month so far. Loyal 3 recently announced that they will no longer accept credit cards, this news is less than a week old and spread like wildfire. I am sure you have probably read about it somewhere else! Not to worry though. They remain cost free at the moment and you are able to transfer money to and from a checking account to them.
I have continued to invest 100 per week into the account and will try to do so for the remainder of the year. I have focused my buys for the month on two stocks UL and MAT. I have added 150 (including this weeks) to those positions. These new investments will add around 14 to my dividend income for the year.
A new company joins the family!
I have been looking to add additional diversification to my portfolio for a while. My current portfolio has a significant amount of Consumer Cyclical/Defensive and Energy. These make up the largest by both sector and dividends. I have been doing research (when able) on trying to find some good companies in the Basic Materials and Financial sectors. My allocation was further skewed by the steep drop in oil companies and my subsequent additional share pickups of (BP, CVX and XOM), while being only slightly offset by a purchase of AFL.
After doing my research and finding another company that sold of sharply recently, I decided to pull the trigger and add a half size position of BBL. I bought 30 shares at about 54 and that will add ~74 dollars to my 12 month dividend income. BBL adds the diversification that I need in a variety of Basic Materials and geography. They are planning on spinning off some of their mine assets, but I like the business with or without those assets. This will make a great addition to my portfolio and will join APD in the Basic Materials sector.
After these purchases my income is now at $4650.10 for the next twelve months. I am continuing to march steadily upward.
The market is providing some good chances to deploy capital and in a few days I will have enough to potentially make another purchase by the end of the month. All is rather quiet right now and I am trying to decide what my next addition will be. A few compelling opportunities right now are EMR (recent raise of 9.3%), BBL and BP. I have also been looking at T. Row Price and like what I see there. A very solid company with a long dividend history.
Disclaimer: Long EMR, BBL, BP, UL, MAT, AFL