The fund purchased shares of First Financial Bancorp today. The price paid for the shares was $19.84. The goal for the share purchase is to continue holding the shares and reinvest a percentage of the dividends into purchasing more First Financial Bancorp shares creating an ever increasing source of revenue for the fund. Some reasons for the purchase are below.
- A decent dividend
- Stock appreciation with rate rises around the corner
- A financial institution is needed in the portfolio
- The dividend is the first week of each quarter
This purchase will bring the Jan-Mar quarterly dividend receipts at least 13% higher than the Oct-Dec quarter. The large increase is mainly due to the fund being so new and the percentage increase is sure to slow to a more normal level in the future. But we'll take it.
The fund also owns shares in Ford, AT&T, and MFA.
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