Today’s dividend: PNC Financial Services

The DOW was due for a dip, but daaaaaammmmnnnnnnnnn. That was something else. It plummeted 1,175 points (4.60%). And the NASDAQ and S&P 500, well, they didn’t do much better. It was Ugly … yeah, with a capital U.

Is it really that big of a deal, though? I mean, the market was due for a sell-off … stocks were just too hot. They’ve been on fire for a long time, but all fires eventually go out, right? It certainly wasn’t fun watching my portfolio tank the way it did today, but in the grander scheme of things, I didn’t actually lose anything at all. I still have all the shares of each and every one of the companies I started the day with and, at least in my opinion, that’s all that matters.

I wasn’t planning on selling any of my shares anytime soon and today certainly didn’t change that. A lot of people obviously had a different plan, and I can certainly understand the desire to lock in some profits, but it’s not what I’m after right now. Nobody knows how far this thing will fall, but, as long as the companies keep paying me dividends, I’ll be happy to scoop up more shares at discounted prices and just sit tight for the next, oh, I dunno … 20-30 years.

There’s always a silver lining.

Today’s, at least for me, was a dividend.

PNC Financial Services

PNC Financial Services (PNC) passed along a $0.75 payment for the one share I own. The dividend was my 10th this month, and it brought my February total to $18.05 and my 2018 mark to $53.79.

I picked up my share for $123.01 back in May and it was worth $150.32 after the market mercifully closed up shop for the day this afternoon. Even with today’s loss of $7.65, the share’s still up 22% since I scooped it up.

PNC is a regional bank with plenty of locations near where I am in Ohio. I personally don’t bank with the company, or use any of its products, but plenty of other people do. It earns more than $8 a share and grew those earnings 112.18% last quarter verses the same quarter from the previous year. That’s pretty good!

The dividend is pretty solid, too. Its $3 annualized divi represents just a 1.90% yield and 28.96% payout ratio. It’s been boosting that puppy for seven years in a row, most recently at an average clip of 13.92% over the course of the last three years.

That’s all for now. Hopefully tomorrow treats us a little better, but hey … lots of buying opportunities are starting to open up.

March on!



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