I wanted to let you know that I initiated a new position today. I acquired shares in a pharmaceutical company, which has managed to increase dividends for 12 years in a row. The stock sells for 15.70 times forward earnings and yields 2.63%. Over the past 5 years, the company has managed to grow annualized dividends at 8%/year. I would love to build a position in the stock this year, subject to valuation and availability of capital. I would love to be able to accumulate more on dips this year.
I plan to make a few more investments later this week or sometime early next week. Afterwards, I should try and compile the Dividend Growth Investor Newsletter for March 2023.
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