It feels so good to be back! After 3 straight months of building cash to pay my taxes, they have officially been paid off! And with April’s paycheck, I finally have real money to invest!
Would you believe that I made my last purchase (Blackrock, Inc) back in December 2014? Granted, I did do some reshuffling in my portfolio, but we know that’s not the same.
So after such a long hiatus, what did I buy? 20 shares of T. Rowe Price (TROW) at $80.73 a share. Why? I think we all know why: that special dividend coming in late April! I know I’m not the only one who noticed, and who wants to get a piece of the action. The dividend is for $2.00 a share, payable on April 23rd to shareholders of record as of April 9th. I’m happy that I got in just in time! But beyond that, I had previously analyzed TROW by comparing it to a major competitor, Franklin Resources (BEN). While both looked good, I thought TROW was a slightly better fit for my portfolio, and a good investment in general. But with this purchase, I will no longer be considering BEN, as I already have two asset managers in my portfolio. There’s so many other great companies on my wishlist, and I don’t want to become overly focused on one industry. More importantly, I feel I’m slowly approaching the point where I may have too many companies in my portfolio. There are a lot more I want to add, so I have to be selective in my future purchases.
Normally, this investment would pay me $41.60 in annual income. But with the special dividend, I will be getting $40.00 extra this year, for a total of $81.60. Hope I get even more special dividends soon 
Disclosure: Long BLK, TROW
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8 Comments
TROW has been a favorite among some of the other bloggers I follow and there’s a lot to like about them. Actually I just received my first dividend payment from them and that $2 special dividend later this month is going to be sweet. I’m just about finished with our taxes this year and I’m so glad that I am. It’s such a pain to do. Glad you’ll be getting back to regular investing now.
JC recently posted…Dividend Update – March 2015
Congrats on your first dividend check from them, and thanks for reading!
Seeing a lot of DGIs buying TROW these days. I still havent done my research on it, but some quick glance looks like a solid company. Congrats on the purchase and adding some more dividend income to your stream.
cheers
R2R
Roadmap2Retire recently posted…Recent Buy
Thanks!
Excellent purchase, DD! I love these asset managers and think you picked a winner here. Enjoy that special dividend
Ryan @ My Dividend Growth recently posted…I Recently Bought This Classic Dividend Growth Company:
You and me both! Thanks for stopping by!
Great to see you finally on the buying train with TROW, a quality finance name that has been making the rounds among a few of the dividend bloggers. Those special divs are always a nice surprise too when they come. Thanks for sharing your recent buy.
DivHut recently posted…Dividend Income Update â March 2015
Yep, thanks for stopping by!