Newest Dividend Stock

As my readers know, I am in the process of building out my dividend portfolio. I have bailed from MFI and am establishing positions in dividend stocks. One of my metrics I am watching is dividend by sector. The table below shows my current distribution:

Row Labels	Sum of Projected Dividend
Bond	2,315
Construction	1,957
Consumer	3,981
Defense	782
Finance	11,255
Hybrid	6,651
Insurance	8,922
Pharma	1,018
Pipelines	2,410
Tech	4,461
Utility	6,811
Grand Total	50,563

As you can see, it isn't very balanced. Way too much insurance and finance (banks). Over time, I want to spread it out and add a few more like Chemicals and Basic Resources.

Anyway, I did buy a new stock today. Drum roll please....

In my mind, HP is a classic value stock. It is trading at about 50% of its 52 week high. As Greenblatt would say, "sometimes the market just goes nuts". HP pays a 1.8% dividend, with plenty of room to increase over time. They have a new CEO, Meg Whitman, that did well at E-Bay and seems to be bringing back some focus. Seth Klarman, one of the great value investors of our time, has made it over 10% of his portfolio... frankly that alone should be enough to convince. I got in at $25.79. If it drops another 5% I will buy some more.