The Remarkable True Story of a “Dividend Millionaire”
IN 1995, Hayford Peirce, a science-fiction and mystery writer by avocation, sat down in a Tahitian café. He was 53 years old.
Peirce pulled out a legal pad and pen, and wrote down his list of stock investments. He had two groups: There were about a dozen high-yield but slow-growing stocks such as utilities and high-yield bonds.
The second group of stocks, seven in all, overlapped a little with the first. But these companies were comparatively high-growth, with a long history of increasing their dividends every year. All of them were well-known blue chips: Coca-Cola, General Electric, Johnson & Johnson, Kellogg, Merck, Pfizer, and Philip Morris. Philip Morris was Peirce's largest holding by far.
Source: Fool.com
