Stock Buy - General Motors (50 shares, $76 dividend income)

"Don’t throw out the baby with the bathwater" is the lesson that comes to my mind in this current stock market volatility. It seems like some quality stocks were sold off after Brexit and so I went discount shopping.

I added 50 shares of General Motors (NYSE:GM) after 2 straight down days in the US market. GM is the manufacturer of car brands Buick, Cadillac, Chevrolet (maker of popular electric Chevy Volt) and GMC. The company emerged from a 2009 bankruptcy restructuring with investments from Uncle Sam and has slowly return to profitability again.

With increasing sales growth in asia and investments in hybrid, electric and self-driving technologies such as recent purchase of Cruise Automation, I think the company is on the right path to sustainable growth. After a volatile past few days, their dividend yield is now over the 5% mark and this makes it both an attractive income and growth stock IMO.

This purchase will add $76 dividend income to my dividend stock portfolio

Basic info:
Market CAP: 41B     EPS:$6.68   Dividend: 1.52 (5.36%)