Feb 11 2009
Bought PBI and BMS Yesterday
I purchased two more stocks yesterday. They were Pitney Bowes Inc. (PBI) and Bemis Company (BMS). PBI makes mail processing equipment and offers mail solutions. BMS manufactures flexible packaging products and pressure sensitive materials. These are different industries than any of my other stocks so they will help diversify my portfolio by industry.
Both stocks are dividend aristocrats meaning they have increased their dividends every year for at least twenty five years. PBI currently yields just over 6% and BMS yields just over 4%. That gives me a good yield now and if their dividends continue to grow I’ll have an even better yield in the future. Both companies look to have sufficient earnings to cover their dividend payments. I can’t predict the future but both companies seem to have decent financials and shouldn’t have any trouble surviving the economic downturn. These stocks fit well in my strategy of having a diversified portfolio of stocks with good yields and good prospects for dividend growth.
