As we come closer to year end, I have been trying my best to save up all free capital for the new year. But with Christmas upon us, I just couldn’t resist getting my portfolio a little something too. I purchased 16 shares of General Mills (GIS) at $61.37. Below are some more company stats.
Annual Dividend: $1.92
Years Paying/ Increasing: 10 years
Dividend increase from prior year: 8.33%
Payout Ratio: 72%
P/E Ratio: 22.33
The payout ratio is a little high for my likes but it is not overwhelming. Which makes sense given that they have been ramping up their dividend increases over the past few years. Hopefully they have enough room to grow to continue these increases for a while. I missed the gun on price slightly but am still satisfied with the price I purchased it at.
As shown above, GIS has a dividend yield of 3.13% or $1.92 annually. This will add another $30.72 to my yearly dividend income. This purchase comes a few weeks before the ex-dividend date so I am eligible to collect on it all next year. Also, it’s dividend payment will hit in the off months like February which will help my monthly total goals. How do you think I did? Do you have any other companies that are on your watch list?