Yesterday I made the first share purchase for Mia’s Portfolio.
Standard Life (LSE: SL.) has been on my radar for a while and yesterday I executed a purchase order for a block of shares for my own portfolio along with 250 shares as the inaugural investment for Mia’s Portfolio. The price was 211.202 pence per share including commission and stamp duty amortized across the entire purchase for a total investment for Mia of £528.01.
At the projected 2011 dividend of 13.4p per share, the yield is a very hefty 6.34% (13.4p / 211.202 = 6.34%). I’ve set Mia’s shares up in my brokerage account for automatic dividend reinvestment so over time the quantity of shares and the dividend yield will grow very nicely.
As I mentioned last week, Standard Life is a high yielding life insurer that has been in business for almost two centuries. Although the company’s publicly traded track record is short, it’s characterized by a high yield and rising dividends, which are both key aspects of the Child Millionaire portfolio.
This is exactly the kind of company you want to buy and hold forever in your Child Millionaire portfolio.