Money and Finance
Hi Everyone,
- Phew I've Been Busy - Plus A Recent Buy - Dov
Hi Everyone, Sorry y'all for being out of pocket so much the past month! Our schedule has been jam packed with stuff to do every weekend and work has been really been draining me of energy recently. Since my last post, my wife and I have...
- Recent Buy - Parker-hannifin Corp.
Hi Everyone, I fell behind a little bit with getting this post out, but its been a busy couple weeks. This purchase actually occurred on June 6th. It looks as if I'll make another purchase here pretty quickly because of the RAI/LO merger....
- Recent Buy - W. P. Carey Inc. (wpc)
Hi Everyone, Well, the year has slowed down a bit with regards to buys, but the savings account has been built back up after I used them all up to pay off the student loans so hopefully I can get back to putting more money to work. With this...
- Recent Buy - Johnson & Johnson (jnj)
Hi Everyone, Finally, my last purchase with funds left over from last year. I'm having mixed emotions thinking about writing this post. I'm thrilled to add more income to the portfolio but I'm fresh out of extra capital to invest...
- Recent Buy - Travelers Companies Inc (trv)
Hi Everyone, January continues to be a busy month in terms of buying companies for the American Dividend Dream portfolio. With the market staying around all time highs I continue to look for companies that are attractively valued. With that...
Money and Finance
Recent Buy - Dover Corp (DOV)
February is half way over and I put quite a good bit of money to work in the past week. The only way to get closer to the American Dividend Dream is to keep buying high quality companies and letting the portfolio compound for years to come. Hopefully I was able to pick stocks that continue to do what they do - reward shareholders! With the market staying around all time highs I continue to look for companies that are attractively valued. It gets harder and harder every day as the market keeps going up but I think I found a few good ones. First up, Dover Corp (DOV) so without further adieu...
I purchased 27 shares of Dover Corp (DOV) at 74.15. This purchase adds $43.20 of annual dividends to my account.
I now own 27 shares of Dover as this was a new purchase which means I have 31 individual companies that I am invested in. Phew that's a lot! I may add to this position in the future, or I might just let the position compound for years to come, either way I'm happy. Forward dividends now stand at around $3,614 for the next 12 months and I just happened to get Dover before the ex-dividend date so I will not miss any of their payouts! The portfolio will be updated to reflect this purchase.
From Google Finance: Dover Corporation (Dover) is a diversified offering innovative equipment, components, and specialty systems. The Company also provides supporting engineering, testing. The Company operates through four business segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Company’s businesses are based primarily in the United States of America and Europe with manufacturing and other operations around the world.
DOV Chart:
Statistics:
P/E: 16
Yield: 2.15%
Market Cap: 12.5B
Dividend Growth Rate (5yr): 9%
Payout Ratio: 33.5%
Years of Dividend Growth: 59 years!!
I purposefully made the 59 bold for the years of dividend growth above... Think about that, 59 YEARS. This company has been raising dividends for longer than my parents have been alive. That was a main driver for buying that company, but not the only one. The stock has recently pulled back 22% from it's high, I got in right before the ex-dividend date, low debt and close to $700M in cash. The market is fearful about the weakness in oil and Dover's subsequent energy portion of its company. However, even though guidance has been lowered twice in just the past few months, they are still expecting to have increased earnings over this past year. Forward PE will be down to 15 at my purchase price and if oil/gas comes back just a bit, earnings could beat estimates and Dover will be sitting pretty.
So there you have it, the next building block on the path to the American Dividend Dream! What do you think, good purchase, bad purchase? What are you looking to buy next?
- Phew I've Been Busy - Plus A Recent Buy - Dov
Hi Everyone, Sorry y'all for being out of pocket so much the past month! Our schedule has been jam packed with stuff to do every weekend and work has been really been draining me of energy recently. Since my last post, my wife and I have...
- Recent Buy - Parker-hannifin Corp.
Hi Everyone, I fell behind a little bit with getting this post out, but its been a busy couple weeks. This purchase actually occurred on June 6th. It looks as if I'll make another purchase here pretty quickly because of the RAI/LO merger....
- Recent Buy - W. P. Carey Inc. (wpc)
Hi Everyone, Well, the year has slowed down a bit with regards to buys, but the savings account has been built back up after I used them all up to pay off the student loans so hopefully I can get back to putting more money to work. With this...
- Recent Buy - Johnson & Johnson (jnj)
Hi Everyone, Finally, my last purchase with funds left over from last year. I'm having mixed emotions thinking about writing this post. I'm thrilled to add more income to the portfolio but I'm fresh out of extra capital to invest...
- Recent Buy - Travelers Companies Inc (trv)
Hi Everyone, January continues to be a busy month in terms of buying companies for the American Dividend Dream portfolio. With the market staying around all time highs I continue to look for companies that are attractively valued. With that...