More Dividends Fund Update – June 2015
Another month has gone by and we have seen some changes occurring in the market. A lot of the volatility that I have been seeing has been caused by the uncertainty in Greece. Will the country be able to strike a deal with the IMF or will they default on their loans? Those simple questions have been shaking the market up. It has created some interesting possibilities of new positions to establish, as well as some to strengthen up on.
My eye will stay on Realty Income Corp as I am looking to strengthen this position because I think it is a great long term investment! I also will be watching my position in Exxon Mobil, although since I think the stock price is getting pushed down because of the oversupply of oil, I am not sure at what point will be a good time to add to this position. Both of these companies are great companies that I think are great long term investments and look forward to adding to my positions when I feel that the time is right.
During the month of June I did receive some Dividend Income from Exxon Mobil which totalled $5.11 and was DRIP’ed back into a fractional share. Although afterwards I decided to turn off all of my DRIPs for now and you can read my explanation about it in my article To DRIP Or Not To DRIP. If my decision changes on this in the future I will be updating to reflect the changes.
During this month, I felt that now would be a good time to open a position in the financial sector. After some analysis, I decided to purchase 30 shares of Bank Of America ( BAC ) at $17.20. Bank of America hasn’t exactly been pleasing investors in the past few years, but I think that there are several reasons to invest in the company. Firstly, with the impending interest rate hike from the fed, I think that the bank will finally be able to increase its revenue. With the increase in revenue they will be able to start returning more capital back to their investors through steady increases in their dividend payments. Also with the majority of the companies legal battles all in the rearview mirror, they will be able to focus on the future and putting the company back at the top where it once sat in the past.
