Warren Buffet has a saying be fearful others are greedy and be greedy with others are fearful. i took his approach after finally learning the details of this lawsuit.
I believe that applies to this buy i did today. I was not going to buy anything had no plans but upon further review after looking at the circumstances of the lawsuit that is being brought on by independent drivers of Flowers food. I have seen a lot of buys from the DGI community and i typically like to make my own buys but i think this is one that you regret 10 years down the road if you dont make it now.
This lawsuit is being brought on by 190 some drivers who are contracted drivers out of all that they have similar suit to what UPS was being sued for they settled out of court for 250 million.
Most likely this will be settled out of court for around the same compensation 60,000 per driver. while it will dig into their bottom line a bit they have enough to withstand the payment and continue.
Now onto the buy.
I bought 85 shares into my first postion. total cost 1304.82 including commisions.
Its dividend is 64 cents a share its current dividend yield is 4.20. this purchase will add 54.4 dollars a year or 13.6 a quarter
Disclaimer… I am not a proffesional stock picker so please do not take my word that you have to buy this stock if you do its at your own risk.
I am long on flowers food stock.