The story was picked up by the major news sources as a “cute” human interest feature. You might have seen the headlines like “How a Secretary Made and Gave Away $7 Million.” But for me, this wasn’t some light news piece. This was a story that resonated deeply with me. I didn’t know Grace Groner, from Lake Forest, Illinois. From the stories, she was a woman who lived frugally. Her passing was of interest because her three shares of Abbott Laboratories (NYSE: ABT) grew into thousands of shares through decades of stock splits and dividend reinvestment. In total, her estate came in at roughly $7 million when she passed.
And while I didn’t know Grace Groner, I did know Lillian Calistri. When Lillian died in 1993, her estate was worth north of $5 million. One of Aunt Lillian’s investments was International Business Machines (NYSE: IBM). IBM dished out its first dividend in 1913. Since then, it has gone on to pay nearly 400 more. In the past decade, IBM’s dividend has increased 436%. Neither ABT nor IBM had a particularly juicy yield at the time these women bought their shares. But they had something equally powerful: a corporate culture dedicated to rewarding shareholders — especially with growing dividends. And those growing dividends add up a lot quicker than you’d think.
Source: Trader's Blog
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Posted by D4L | Friday, February 17, 2012 | ArticleLinks | 0 comments »________________________________________________________________
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