Stock Purchase - Simon Property Group (10 shares, $70 dividend income)

Simon Property Group, Inc. (NYSE: SPG) is a large REIT that owns, develops and manages retail malls and premium shopping outlets in the United States and worldwide.

I have shopped at several of their locations and they do a really good job maintaining the high quality of tenants and services. Online shopping is an increasingly threat to brick & mortar stores but I believe the entire shopping sector pie is big enough for this company to thrive and grow especially in major metropolitan areas worldwide.

A 4% yield is a nice return for any income producing stock especially on a large cap and established player in this competitive REIT sector. I hope to keep this one going for a long time.

This purchase will add $70 annual dividend income to my dividend stock portfolio

Basic info:

Market CAP: 56B   EPS:$5.87 Dividend: $7.00 (4%)