Wednesday, January 27, 1999
Clorox: Our Family's Growth Stock
In 1980, I had some cash to invest and talked my father into matching my funds on some investments. One of the companies we invested in was Clorox. We bought 100 shares at $10.25 per share. Then we sat back and let it grow.
Twelve years later, I used most of my investment to help finance the purchase of my home. My father just kept reinvesting the dividends and letting the stock grow.
Last Christmas, to help finance their college education, my father gave each of his three grandchildren 100 shares of Clorox stock from his half of our original investment. The value of each child's gift was around $8,300! His half of our investment had been $512.50. Over the seventeen year span of his investment, the stock had split several times and the share price had grown steadily.
The value of choosing a great company, reinvesting dividends, and having patience has paid off handsomely for my father and his grandchildren.
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