Saturday, April 18, 2015

New Roth IRA - AT&T

I opened my 2nd taxable account at Scottrade due to the following reasons: 
  1. Lower fees as compared to TD Ameritrade
  2. Flexible Reinvestment Program (FRIP) - This commission-free program allows an individual to  pool dividends from most dividend-paying equities in order to purchase full shares of up to five eligible securities of choice.

An initial allocation of $ 5K and I opened positions in 5 dividend paying companies.





Dividend Income: Increased by $173. 26)

Wells Fargo --> $28 (Annual Payout = $ 1.40)
JNJ --> $28 @ $2.8  (AP = $2.80)
CSCO --> $28.56 (AP = $0.84)
ABBV --> $36. 72 (AP = $2.04)
HCP --> $ 51.98 (AP = $2.26)


Roth IRA:
I opened a ROTH IRA at Scottrade, 1st week of April 2015. This was just in-time after much deliberation. I desperately wanted to take advantage of a 2014 contribution that I could make until Tax day on 15th April. I deployed only $2K since available investment is limited. A new-born is expected in August this year and I've had to have extra money parked in Savings and HSA.


I purchased 30 shares of AT&T (Symbol: T) on 4/17/2015 for $32.54 per share. 
This purchase adds $56.40 to my annual dividend income, based on the current $0.47 quarterly dividend.

I've got a $ 1K remaining in the Roth IRA and have plenty of free trades. I will make a couple of purchases shortly. Stay tuned!

This isn't a new position. Adding to the 20 shares that I purchased for my TD Ameritrade taxable account.