Looks Like a Promising Week

Happy Monday Morning! Stock market futures are up and even with the bankruptcy of GM, it looks to be a promising day for the stock market. It would be nice to start the month off with some good news! Speaking of good news, I've found a new addition for my dividend stock portfolio.

Legacy Reserves LP (LGCY) Based in Midland Texas, their primary business is acquiring and developing oil and natural gas properties in the Permian Basin and Mid-continental United States. Their dividend is currently $2.08 which represents a yield of 16.88% at their recent price of $12.32 per share. With earnings of $5.89 per share, they should be able to maintain the dividend going forward. It would still be a good investment if they cut the dividend 50%.

I currently own shares of Copano Energy LLC (CPNO) and while I don't plan on adding additional shares to my position, I do plan on holding on for the dividend income. I think both companies could benefit from higher natural gas and oil prices later this year. Will see how it goes.

Have a great Monday morning and a great week!