Bought a little DuPont

I've resolved to only build a core portfolio of dividend paying stocks of relatively large, steady companies.

To this end, taking advantage of my last free trade at Scottrade before it expires, I bought El DuPont de Nemours & Co. (DD).

The bad:

DD is one of the largest autopaint makers in the world. As the US economy heads for a slow down or a recession, this isn't that good for the company.

What should outweigh the bad above is that

1. DD is the 2nd largest in world in the agricultural business. The demand for food already outpaces production, and this should continue. Moreover, DD should benefit from rising corn seed prices because increased biofeul production.

2. Almost 60% of DD's sales come from outside the US. As the dollar falls, DD will make more on the currency exchange.

3. Right now it has a 3.6% dividend yield, which is pretty good. DD also has a long, steady history of increasing dividend payments. Just recently it raised its dividend by about 11%.

4. With a price/sales ratio of about 1.37, this is the cheapest DD has been in about a decade.

5. The company has bought back shares, and intends to buy back an additional $1.1 billion worth.

6. DD recently acquired IsoTherming Technology from Process Dynamics. This will help grow DD's Clean Technologies business because it provides refiners with a faster, cheaper way of producing cleaner fuel.

7. Eventually, the economy will improve, so DD's other business segments, which are flat or shrinking now, will improve.

I intend to keep DD forever, and add to my position on a hopefully regular basis. I might transfer it over to my Tradeking account, which has free dividend reinvestment, for compounded returns on the dividend.

My next stock purchase will most likely be additional shares of GE.

Update, sold DuPont.