As I'm writing this blog post, it is the last week of October and only two months remain in the year. In a couple of weeks, Daylight Saving Time will be hitting Wisconsin. This basically means goodbye to daylight and hello to darkness by 5 PM!
Moving past complaining about the looming winter and to the focus of this blog post, I will be discussing the dividend increases that I have received thus far in October and what I'm expecting for November 2021. Since I expect to receive three more dividend increases in the next few days, I will be periodically updating this post to reflect dividend increases as I receive them.
Actual Dividend Increases for October 2021
Dividend Increase #1: American Electric Power (AEP)
As I predicted in the previous post of this series, American Electric Power announced a 5.4% increase in its quarterly dividend from $0.74 per share to $0.78 per share. This is a sensible dividend increase since analysts are expecting AEP's EPS to also grow by 5.4% to $4.68 this year.
Across my 11 shares of the stock at the time of the announcement, my net annual forward dividends advanced $1.76 due to AEP's dividend increase.
Pending Dividend Increase #1: Visa (V)
While Visa hasn't announced a dividend increase yet, I anticipate that will happen by October 29th. I am reiterating my previous expectation of a 12.5% increase in the quarterly dividend from $0.32 per share to $0.36 per share. This is because Visa's mid-teen earnings growth that is expected for this year supports such a dividend increase.
If this dividend increase plays out as I anticipate, my net annual forward dividends will grow by $0.48 as a result across my three shares of the stock.
Pending Dividend Increase #2: Pinnacle West Capital (PNW)
Pinnacle West Capital hasn't announced its dividend increase yet either. And despite the regulatory headwinds that the company has faced this year, I am still expecting a dividend increase. I am moderating my expectations a bit, so I am lowering my dividend increase from 4.8% to 3.6%.
With my seven shares of PNW stock, my net annual forward dividends would be boosted by $0.84 as a result of such dividend announcement.
Pending Dividend Increase #3: AbbVie (ABBV)
Since I found out that AbbVie is reporting its third quarter earnings the final Friday of October rather than November, I am expecting a dividend increase in October rather than November.
Because analysts are anticipating that ABBV's EPS will surge 19.3% to $12.60 this year, I am confident that ABBV will announce a 10% increase in its quarterly dividend from $1.30 per share to $1.43 per share.
Across my seven shares of ABBV, my net annual dividends would soar by $3.64 if this dividend increase were to occur.
Expected Dividend Increases for November 2021
Expected Dividend Increase #1: KeyCorp (KEY)
Expected Dividend Increase #2: Merck (MRK)
Expected Dividend Increase #3: Aflac (AFL)
How was your October 2021 for dividend increases?
Did you receive any first-time dividend increases as I did from AEP in October?
Thanks for reading and I look forward to your comments!