I am pleased to report that I have just purchased another FTSE 100 dividend stock to add to my growing portfolio, which is now at three quality dividend stocks.
I bought 105 Legal and General shares today taking advantage of the cheap Halifax sharedealing commission charges. I paid £276 including trading fee and stamp duty. Fortunately for me Legal and General shares have taken a dip in price today meaning I could get slightly more of them than I had intended. The trading price was 257.60 pence which is down from the 263 pence I have been seeing recently. Of course the lower share price means the dividend yield looks more appealing. The Legal and General dividend yield is now close to 4% which is a far superior return to that given in any cash ISA or savings account right now. Predicted annual dividend with this size of a holding is £11.81.
My average cost per share is low at under 263 pence as I got a cheap commission charge. I will definately be trading during these offer periods again. My investment funds for dividend stocks is limited right now as I am on maternity leave but I think I will save at least £100 a month into my stocks and shares ISA so that I can maybe make a new purchase every 4 or 5 months. This also means I will have funds available if the opportunity to top up at a lower price comes along.