Today’s dividend: Avery Dennison Corp.

Three days into the week … three days with dividends. Today’s, my 33rd of the month, came from Avery Dennison Corporation.

Avery Dennison Corporation

Avery Dennison (AVY) passed along a $0.45 dividend for the one share I own. The company, which I had never heard of until running across it in some article or blog post somewhere, engages in the provision of labeling and packaging materials and solutions. It’s not the sexiest business, but there will most certainly always be a need for it.

I’m glad I ran across the company because it’s turned out to be a pretty solid investment so far. My share of Avery Dennison, which I picked up for $80.32 in March of 2017, has paid me four $0.45 quarterly dividends and appreciated by almost $30 (37.13%).

Pretty darn solid. Couple that with the $128 price target and 11.90% quarterly revenue growth and it looks poised to be an even better investment over the long run. The $1.80 annualized dividend isn’t anything special now – it represents a yield of well under 2% – but it was 2.24% when I bought it … so I’m not complaining. It’s also been boosting its payment for seven straight years, most recently at an average rate of 8.76% over the course of the last three.

The company looks pretty expensive at today’s price, but keep an eye on it if you’re looking for a solid dividend-growth stock that has shown an ability to deliver capital gains as well.

This week’s steps

Like I said, today was the third straight day this week I earned at least one dividend. I also hauled in $1.13 Tuesday and $1.38 for my three shares of VFC Monday.

I’ve also made purchases every day this week. I picked up a share of General Mills (GIS) for the bargain bin price of $45.58. I also added a share of Sotherly Hotels (SOHO) for $6.27. It was my second share of GIS ($1.96 annualized dividend/share) and 11th share of SOHO ($0.46 annualized dividend/share). Tuesday’s purchase of BEN, meanwhile, coupled with Monday’s purchase of CVS added another $2.92 to my forward annual dividend income.

Last week’s steps

Friday’s dividend from Duke Energy, coupled with Thursday’s $5.62Tuesday’s $1.84 and the combined $11.08 from Monday, brought my weekly total to $19.43.

I also made a small purchase Wednesday, picking up a share of CVS.

March on!

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