On August 5th I bought 12 shares of ConocoPhillips at $80 or an initial yield of 3.65%. After my review of COP and looking at my alternatives I decided this was a good buy for the price. This purchase will increase my annual revenue by a good $35 dollars. This brings my number of positions up to lucky number 13 in my taxable account. While I did not have enough cash from July I do have some cash saved from earlier in the year to use for the next couple of months. When that runs out hopefully I will have my budget in better shape and have saved more.
ConocoPhillips is a major international company in the energy field. Their diversification in the many areas of energy production and transportation play well nicely with the energy companies I already hold. This I my first energy conglomerate while the others I hold are more specialized. Dividend Life did a compare on the stability of the dividend vs. XOM. XOM won out so maybe that will be my next purchase. It does rank up there but wasn't as high as COP. I take the stock split and dividend hike as a sign of good growth. Either way both are good buys.
Following all the great advice from fellow bloggers out there I will keep on investing whatever I have in the most cost effective way. That investing whether it is $5,000 or $100 will be done the same way by adequately researching and ranking the great dividend payers out there.
Thanks for reading!
Should I stick in this sector and purchase XOM next or move on to other areas?