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Buying another dividend stock: WGL [ClearOnMoney]
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Buying another dividend stock: WGL

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Investment

Buying another dividend stock: WGL

18 Mar 2010 by Jim Fickett

On Friday I will buy another dividend stock – WGL, paying 4.4%. The current emphasis in the investment world on dividend stocks suggests new money coming into this area, and makes me optimistic that they will at least hold their value if the market retreats. This purchase will bring me up to about 10% of the portfolio in stocks bought mainly for the dividend. My target is probably 10-20%, depending on how the next few months play out.

Now about WGL Holdings. From the company website:

Company Profile

WGL Holdings, Inc. is a public utility holding company serving the Washington, D.C. metropolitan region.

Washington Gas, our leading subsidiary, has provided safe, reliable natural gas service to customers in the D.C. area for nearly 160 years and, today, serves more than one million customers in the District of Columbia, Maryland and Virginia. Our unregulated subsidiaries provide energy-related services to residential and commercial customers, including government organizations.

Whether we are distributing clean natural gas safely to a customer?s home, providing electric power through renewable wind energy, or installing energy-efficient systems for the federal government, our vision is consistent and clear throughout our business: to be the retail energy company of choice by achieving excellence for customers, investors and employees.

What I find attractive about the stock:

  • The dividend is a healthy 4.4%, and the company has increased the dividend every year for 34 years
  • The price has been mostly in quite a narrow band for a long time. Although it is near the upper edge of that band currently, it reaches the upper edge quite regularly. So I think of the stock as a kind of one year CD paying 4.4%.

My dividend stock holdings are now AT&T, Exelon, Heinz, Walmart, and WGL.