It’s a big day! I’ve finally been able to purchase more stocks for the first time since April.
As the title suggests, I bought 150 shares of Australian Foundation Investment Company at $5.86 per share. Not the best price I could have paid for them, but with a dividend pay date coming in the start of august I needed to grab them while I could to help achieve my goal of receiving $100 dividends before the end of 2017.
Now for a bit about AFI:
Like the other shares I own, WAM, they are a listed investment company founded in 1928. This means they invest in other companies, which helps add diversification and stability to my portfolio. They are a solid company with a good track record.
They have a market cap of $6,892 million, an Earnings Per Share of 24.62, a fully franked dividend yield of 4.1% and from what I’ve found they also have a pretty solid cash flow. These are all numbers I can get behind.
Despite some sub par recent years, AFI is a nice low risk company with a solid dividend yield. I am more than happy to hold for the super long term and add when a good price presents itself.
Thanks again for reading guys. Let me know what you think in the comments and follow me on facebook and twitter to keep up to date with my future posts. Hoping with my tax return and extra work during uni holidays I’ll be able to make another purchase in the coming weeks.