On Tuesday I bought shares of Exxon Mobil (XOM), the largest publicly traded oil and gas company in the world. I have summarized some of my research in an article about XOM that was published today at Seeking Alpha.
I bought 15 shares of XOM at the price of $87.40 per share plus commission, giving me a 2.87% yield on cost. At the current dividend rate, I can expect to receive quarterly dividends of $9.45 from this purchase, which will add a total of $37.80 to my annual dividend income. My forward 12-month dividend total increases to $2,814. This purchase was made in my taxable account by combining some new capital with accumulated dividends. Exxon Mobil is now the 30th stock in my dividend growth portfolio.
It was nice to make a second purchase this month and to increase my portfolio's diversification in the energy sector. I would not mind buying more shares of XOM if the stock price stays in this area, but a few other stocks on my watch list are also in (or near) attractively valued territory. On Monday I should be getting my first full-month paycheck from my new job, so I look forward to seeing how much of it I will be able to allocate toward investments in October.