Let me tell you, when I saw the recent market pull back I could not believe my eyes. Is this really happening? Are my eyes deceiving me? I tell you, when the market dropped over 5% last week I felt really… really… excited! I was quite overjoyed to see a nice drop. Especially, since I was fully loaded to make a new stock purchase as this was happening in real time. A little short-term pain, for some long-term gain! While others were panicking, I was celebrating! Taking advantage of this opportunity I decided to divide my cash stockpile in half for two new buys.
My first purchase last week was 21 shares of AbbVie Inc. (ABBV) at $90.27 per share. With that, ABBV became the 19th stock in my Portfolio; the Dividend Empire. This purchase added $80.64 to my yearly forward dividend income. This has been my first stock purchase in the healthcare sector in over 2 years. My second purchase last was 15 shares of Illinois Tool Works Inc. (ITW) at $130.06 per share. With that ITW becomes the 20th stock in my portfolio! WOW! My dividend dynasty is officially in the 20 stocks strong league! This purchase added $60.00 to my annual forward dividend income.
Altogether, these two purchases added $140.64 to my yearly forward dividend income! Not bad for investing just under $4,000. I am very happy about these buys. For those who remember way back when I started this website, I had wanted to diversify into different sectors and Industrials was at the top of the list. That proved difficult until now with the purchase of ITW last week. Granted it is a very small piece of a much bigger pie, but I am very happy I am now in Industrials and I look forward to adding more in the future.
As it stands right now, my portfolio now stands to generate $9,269.09 in forward annual dividend income over the next 12 months! I am getting closer to the $10K milestone! These are most likely the last purchases I will make this year (unless I win the lottery) as it will take me another 3 months to reload. But I am sure my dividend income will continue to increase organically as companies raise their dividends in the remaining months of the year. I will continue to build my dividend dynasty! What do you think of my purchase? Do you already own these stocks? Make any good buys of you own?
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