After adding to my Target position, I also initiated a new position in Phillip Morris (PM) this morning by picking up 25 shares at $84.43 each. If I was able to be near my computer at the open this morning I would have been able to get the shares a little cheaper but I had to run in to the office to finish up some paperwork so I had to set the limit order and hope it hit without dropping too much further through my price. I've had my eye on Phillip Morris for most of the year but didn't have the capital available when the price got down to this level. Luckily, this time around I had some cash ready to deploy and got the chance to start a position with them.
These 25 shares will add $85 in annual dividends before further increases or reinvestment and carry a YOC of 4.01% based on the current annual payout of $3.40 per share. Since the ex-div date for their next payout is 12/24 I will be receiving the payout. Unfortunately it's not being paid this year but it will add to my January payouts which is good because it'll help to diversify my payouts more. Prior to my purchase of Medtronic earlier this month, I only had one company paying out on the Jan, Apr, Jul, Oct schedule and now I'm up to 3. My position in PM increased the YOC for my portfolio from 2.87% to 2.91% and my non-ESPP shares YOC from 3.22% to 3.25%.
I'm now out of capital for the next few days until I can get money transferred back into my brokerage account. Luckily it'll be a slow week next week with the Christmas holidays so I won't be missing out on too many days with the markets open.
My forward 12-month dividends now sit at $1,672.37.