Expected Dividend Increases for November 2022

As I'm writing this blog post, the temperature is expected to reach a high of 76 degrees Fahrenheit today (Saturday, October 22) here in Central Wisconsin. And with the next few days set to be about as warm, I am itching to get outside for at least a few hours between now and then.

Given that we're nearing the end of October, it's time to look at the dividend raises that I received for the month. And it would be fitting to also go over the dividend hikes that I'm expecting for next month.

Actual Dividend Increases for October 2022

Dividend Increase #1: Tanger Factory Outlet Centers (SKT)

Tanger Factory Outlet Centers announced a 10% hike in its quarterly dividend per share to $0.22. This was a raise that I wasn't actually expecting. But SKT's fundamentals are solid, so I don't believe the raise was unjustified.

Across my 11 shares of SKT, my net annual forward dividends surged $0.88 higher due to this dividend announcement.

Dividend Increase #2: A.O. Smith (AOS)

A.O. Smith declared a 7.1% increase in its quarterly dividend per share to $0.30. Even though AOS has historically raised its dividend in October, I likely missed it because I had just opened a position back in April. That's not too shabby of a payout hike in this environment in my opinion.

This dividend declaration lifted my net annual forward dividends by $0.96 across my 12 shares of AOS.

Dividend Increase #3: McDonald's (MCD)

McDonald's hiked its quarterly dividend per share by 10.1% to $1.52, which was moderately more than the 7.2% raise to $1.48 that I was anticipating. That's one heck of a first-time raise from MCD, which I suspect will be the first of many more.

Across my three shares of MCD, my net annual forward dividends were boosted by $1.68 as a result of this dividend announcement.

Dividend Increase #4: Crown Castle International (CCI)

Crown Castle International declared a 6.5% increase in its quarterly dividend per share to $1.565. This was a bit lower than the 8.2% increase to $1.59 that I was projecting. Overall, that's still not a bad raise.

This dividend declaration led my net annual forward dividends higher by $1.52 across my four shares of CCI.

Dividend Increase #5: Magellan Midstream Partners (MMP)

Magellan Midstream Partners announced a 1% bump in its quarterly distribution per unit to $1.0475, which was what I forecasted. It doesn't take much of a raise from an ultra-high-yielding blue chip like MMP to make me happy, so I was content with this raise for sure.

Across my 16 units of MMP, my net annual forward distributions edged upward by $0.64 due to this announcement.

Dividend Increase #6: Pinnacle West Capital (PNW)

Pinnacle West Capital declared a 1.8% increase in its quarterly dividend per share to $0.865. This was just below the raise to $0.87 that I was predicting.

This dividend declaration inched my net annual forward dividends higher by $0.42 across my seven shares of PNW.

Dividend Increase #7: American Electric Power (AEP)

American Electric Power announced a 6.4% increase in its quarterly dividend per share to $0.83. 

My net annual forward dividends surged $2.20 higher across my 11 shares of AEP.

Dividend Increase #8: Visa (V)

V announced a 20% hike in its quarterly dividend per share to $0.45. This came in well above my expectation of a 14.7% boost to the dividend.

Across my five shares of V, my net annual forward dividends increased by $1.50.

Dividend Increase #9: Exxon Mobil (XOM)

Exxon Mobil declared a 3.4% increase in its quarterly dividend per share to $0.91. This was just below my expectation of a raise to $0.92. But given the volatility of the industry and the need to not draw more negative political attention to itself amid the high gas prices, XOM's conservatism makes sense.

As a result of the payout bump, my net annual forward dividends were lifted $1.32 higher across my 11 shares of XOM.

Dividend Increase #10: AbbVie (ABBV)

AbbVie announced a 5% hike to its quarterly dividend per share to $1.48, which was a bit lower than my forecast of a raise to $1.50. With Humira losing exclusivity in the U.S. in just a few months, it's probably better to be on the safe side with an increase rather than to be too generous.

Across my seven shares of ABBV, my net annual forward dividends surged $1.96 higher due to the dividend boost.

Dividend Increase #11: Energy Transfer (ET)

Energy Transfer declared a 15.2% increase in its quarterly distribution per unit to $0.265. ET is steadily making progress in restoring its quarterly distribution per unit to $0.305. In fact, the company will likely do just that with its next distribution hike.

My net annual forward distributions soared $12.04 higher across my 86 units of ET as a result of the distribution boost.

Expected Dividend Increases for November 2022

Expected Dividend Increase #1: Main Street Capital (MAIN)

The first dividend raise that I'm expecting in November will be from Main Street Capital. I expect a 2.3% increase in the monthly dividend per share to $0.225.

If this prediction proves to be correct, my net annual forward dividends would be boosted by $1.44 across my 24 shares of MAIN.

Expected Dividend Increase #2: Simon Property Group (SPG)

The next dividend bump I'm anticipating next month is from Simon Property Group. I believe that SPG will announce a 2.9% raise in its quarterly dividend per share to $1.80.

Across my nine shares of SPG, my net annual forward dividends would be lifted $1.80 higher, if this raise manifests itself.

Expected Dividend Increase #3: Realty Income (O)

The third dividend hike that I'm projecting in November will be from Realty Income. I predict that O will declare a 4% increase in its monthly dividend per share to $0.2580.

If this pans out, my net annual forward dividends would surge $1.56 higher across my 13 shares of O.

Expected Dividend Increase #4: Merck (MRK)

The next dividend raise that I'm expecting next month is from Merck. My best guess is that MRK will announce a 5.8% hike in its quarterly dividend per share to $0.73.

Across my 11 shares of MRK, my net annual forward dividends would increase by $1.76 from such a raise.

Expected Dividend Increase #5: KeyCorp (KEY)

The fifth payout bump that I'm anticipating in November will be from KeyCorp. I believe that KEY will declare a 5.1% raise in its quarterly dividend per share to $0.205.

If this is proven right, my net annual forward dividends would be boosted by $1.56 across my 39 shares of KEY.

Expected Dividend Increase #6: Aflac (AFL)

The next dividend hike that I'm projecting next month is from Aflac. I predict that AFL will announce a 7.5% increase in its quarterly dividend per share to $0.43.

Across my 11 shares of AFL, my net annual forward dividends would be lifted by $1.32 from this dividend raise.

Expected Dividend Increase #7: Mastercard (MA)

The seventh dividend increase that I'm expecting in November will be from Mastercard. MA may revert to its pre-2021 pattern of declaring a dividend hike in December rather than November. But regardless, my best guess is that MA will declare a 12.2% boost in its quarterly dividend per share to $0.55.

If this turns out to be accurate, my net annual forward dividends would increase by $0.72 across my three shares of MA.

Concluding Thoughts:

The 11 dividend increases that I received in October have boosted my net annual forward dividends by $25.12. This is equivalent to investing $717.71 in fresh capital at a 3.5% weighted average dividend yield.

Looking ahead to next month, my net annual forward dividends would soar $10.16 higher, if my predictions are on point.

Discussion:

How was your October 2022 for dividend increases?

Did you receive any first-time hikes from your holdings as I did with AOS, MCD, and CCI?

I appreciate your readership and welcome your comments below!