Saturday, July 2, 2022

Recent buy: BlackRock (BLK)

Earlier this week I purchased 2 shares of BLK for about $ 630 per share. This new purchase adds almost $40 to my annual forward dividend income. I watched BLK for a long time and decided with the price drop this year from $970 to $600 that it was time!

BLK is a competitor of TROW in the financial asset management segment. TROW already has a big position in my portfolio so I decided to diversify in this sector by starting a position in the biggest player in this segment.

BLK increased its dividend for over 18 years (thus including the 2008-2009 crash). The yield currently is 3,2% and the 5-yr dividend growth rate more than 13%. The pay-out ratio is around 40% which leaves more than enough room for future dividend increases.

I hope I can build out this position in coming weeks/months!

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