PM – Philip Morris is a new addition to my portfolio. I already own MO – Altira which is something I hold since 2009 and also added in 2012. Stocks in the tobacco sector are generally high yielding stocks with good growth opportunities. I was looking at investing on some other tobacco stock for quite some time. So when PM had a correction and was trading around 52-week lows, I got in.
I purchased 25 shares of PM at $81.50 on 1/27/2014. PM currently pays a dividend of $0.94/share which amounts to an yield of 4.61%. This purchase adds $94.00 to my annual dividend going forward.