Friday, May 14, 2010

Stock Purchase #2

Today I picked up Altria (MO) as my second stock in my taxable account. I grabbed 22 shares for a whopping total of $483. I have owned MO in the past and done really well with it, especially when they spun off craft and then Philip Morris International. The stock pays a dividend of over 6% currently and does increase it every year, so I should see decent income over the next few years.

Combined with my prior purchase of Fifth Street Finance Corporation (FSC), I should be getting around $79 a year on my initial $990 dollar investment. This is much better than if I left it in a savings account since I don't plan on touching the money for years. I will also look forward to being able to add to the account when our finances are more stable.

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