Purchase 50 shares ING Group

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ING Group is my 3rd purchase of the month. I bought 50 shares of ING Group against a price of €11,61. I now own 100 shares ING with an average purchase price of €12,75. With this purchase I added €33,50 to my yearly estimated dividend income. My yield on cost of this position in my portfolio is now 5,25%.

ING Groups share price dropped lately due to a €775 million fine regarding having lax policies regarding money laundering and due to being the Dutch bank with the largest exposure to Turkey. ING Group is down 30% this year. The current dividend yield is 5,77% and I decided to add 50 shares against the current price.