As I'm writing this blog post on Saturday, September 23, it is currently 64 degrees Fahrenheit and raining. That's basically perfect weather for staying inside and writing a blog post!
With that aside, now would be a good time to write about the dividend increases that I received during the month (besides Lockheed Martin, which will be announcing its dividend increase likely on Sept. 29). Let's dig in.
Actual Dividend Increases for September 2023
Dividend Increase #1: Verizon Communications (VZ)
Verizon Communications declared a 1.9% bump in its quarterly dividend per share to $0.665, which was as I expected in my previous blog post of this series.
Across my 45 shares of VZ, my net annual forward dividends rose by $2.25 from this dividend declaration.
Dividend Increase #2: VICI Properties (VICI)
VICI Properties announced a 6.4% increase in its quarterly dividend per share to $0.415. This was just below my expectation of $0.42.
My net annual forward dividends soared by $4.80 due to this dividend announcement across my 48 shares of VICI.
Dividend Increase #3: Realty Income (O)
Realty Income declared a 0.2% raise in its monthly dividend per share to $0.256, which was what I anticipated.
Across my 24 shares of O, my net annual forward dividends edged $0.144 higher from such a dividend declaration.
Dividend Increase #4: Philip Morris International (PM)
Philip Morris International announced a 2.4% increase in its quarterly dividend per share to $1.30. That was just below the $1.31 that I was predicting.
My net annual forward dividends were lifted by $2.52 across my 21 shares of PM due to this dividend announcement.
Dividend Increase #5: Microsoft (MSFT)
Microsoft declared a 10.3% raise in its quarterly dividend per share to $0.75, which was just above my forecast of $0.74.
Across my five shares of MSFT, my net annual forward dividends rose by $1.40 from this dividend declaration.
Dividend Increase #6: W.P. Carey (WPC)
W.P. Carey announced a 0.2% increase in its quarterly dividend per share to $1.071. That was what in line with my expectation.
My net annual forward dividends grew by $0.112 across my 14 shares of WPC due to this dividend announcement.
Dividend Increase #7: American Tower (AMT)
American Tower declared a 3.2% raise in its quarterly dividend per share to $1.62, which was better than the $1.60 that I anticipated.
Across my six shares of AMT, my net annual forward dividends increased by $1.20 from this dividend declaration.
Dividend Increase #8: Starbucks (SBUX)
Starbucks announced a 7.5% boost in its quarterly dividend per share to $0.57. That was exactly what I expected.
My net annual forward dividends surged higher by $1.60 across my 10 shares of SBUX due to this dividend announcement.
Dividend Increase #9: Texas Instruments (TXN)
Texas Instruments declared a 4.8% increase in its quarterly dividend per share to $1.30. Across my 12 shares of TXN, this lifted my net annual forward dividends by $2.88.
Pending Increase #10: Lockheed Martin (LMT)
Since Lockheed Martin historically raises its dividend on the last Friday of September, it has yet to announce a dividend boost yet. But I am standing by my estimate of a 6.7% increase in its quarterly dividend per share to $3.20.
Across my four shares of LMT, this would boost my net annual forward dividends by $3.20.
Dividend Freeze: U.S. Bancorp (USB)
Rather than raise its quarterly dividend per share to $0.50 as I expected, U.S. Bancorp opted to keep its dividend per share the same at $0.48. In this economic environment, that's probably not a bad idea, though.
Expected Dividend Increases for October 2023
Expected Dividend Increase #1: McDonald's (MCD)
The first dividend boost that I'm expecting for next month will be from McDonald's. My best guess is that MCD will up their quarterly dividend per share by 7.3% to $1.63.
Across my three shares of MCD, my net annual forward dividends would rise by $1.32 if this raise plays out as expected.
Expected Dividend Increase #2: A.O. Smith (AOS)
The next dividend raise that I am predicting for October is from A.O. Smith. I believe AOS will announce a 10% raise in its quarterly dividend per share to $0.33.
My net annual forward dividends would grow by $1.44 across my 12 shares of AOS if this dividend boost materializes.
Expected Dividend Increase #3: Crown Castle International (CCI)
The third dividend increase that I'm forecasting for next month will be from Crown Castle International. I predict that CCI will declare a 4.8% raise in its quarterly dividend per share to $1.64.
Across my eight shares of CCI, my net annual forward dividends would be lifted by $2.40 from such a declaration.
Expected Dividend Increase #4: Tanger Factory Outlet Centers (SKT)
The next dividend raise that I'm expecting for October is from Tanger Factory Outlet Centers. My best guess is that SKT will announce an 8.2% increase in its quarterly dividend per share to $0.265.
My net annual forward dividends would rise by $0.88 across my 11 shares of SKT due to such an announcement.
Expected Dividend Increase #5: American Electric Power (AEP)
The fifth dividend increase that I'm predicting for next month will be from American Electric Power. I believe that AEP will declare a 6% raise in its quarterly dividend per share to $0.88.
Across my 15 shares of AEP, my net annual forward dividends would surge higher by $3 from such a declaration.
Expected Dividend Increase #6: Pinnacle West Capital (PNW)
The next dividend raise that I'm forecasting for October is from Pinnacle West Capital. If I had to guess, PNW will announce a 1.7% increase in its quarterly dividend per share to $0.88.
My net annual forward dividends would grow by $0.42 across my seven shares of PNW due to such an announcement.
Expected Dividend Increase #7: Energy Transfer (ET)
The seventh distribution increase that I'm expecting for next month will be from Energy Transfer. My best guess is that ET will declare a 0.8% raise in the quarterly distribution per unit to $0.3125.
Across my 86 units of ET, my net annual forward distributions would rise by $0.86 from such a declaration.
Expected Dividend Increase #8: Exxon Mobil (XOM)
The next dividend raise that I'm predicting for October is from Exxon Mobil. I believe that XOM will announce a 4.4% bump in its quarterly dividend per share to $0.95.
My net annual forward dividends would increase by $1.76 across my 11 shares of XOM due to such an announcement.
Expected Dividend Increase #9: Visa (V)
The ninth dividend boost that I'm forecasting for next month will be from Visa. My best guess is that V will declare a 16.7% increase in its quarterly dividend per share to $0.525.
Across my seven shares of V, my net annual forward dividends would grow by $2.10 from such a declaration.
Expected Dividend Increase #10: AbbVie (ABBV)
The final dividend raise that I'm predicting for October is from AbbVie. I believe that ABBV will announce a 4.1% increase in its quarterly dividend per share to $1.54.
My net annual forward dividends would rise by $3.36 across my 14 shares of ABBV due to such an announcement.
Concluding Thoughts:
Aside from the pending raise from LMT, my net annual forward dividends have climbed $16.906 from the nine increases so far this month.
If my assumptions for next month are correct, my net annual forward dividends will soar by $17.54. This would be equivalent to investing $584.67 at a 3% dividend yield.
Discussion:
How was your September for dividend raises?
Did you receive any first-time payout increases for the month?
Thanks for reading and please feel free to comment below!