Expected Dividend Increases for April 2023

As I'm writing this blog post, it's the last few days of March. The high temperature is expected to reach 44 degrees Fahrenheit today (March 25) here in Central Wisconsin, which is a bit below the average high for this time of year.

With that aside, now would be a good time to discuss dividend increases that I received in March. I am not expecting any additional payout bumps in the next few days, but will update this post if needed. I'll also look ahead to the dividend raises that I am forecasting for next month.

Actual Dividend Increases for March 2023

Dividend Increase #1: General Dynamics (GD)

General Dynamics declared a 4.8% increase in its quarterly dividend per share to $1.32. This came in a bit below the 7.1% raise that I was expecting.

My net annual forward dividends edged $0.96 higher across my four shares of GD due to the payout raise.

Dividend Increase #2: W.P. Carey (WPC)

W.P. Carey announced a 0.2% bump in its quarterly payout per share to $1.067, which was less than the 0.4% increase that I predicted.

Across my seven shares of WPC, my net annual forward dividends inched upward by $0.056 as a result of the dividend announcement.

Dividend Increase #3: Realty Income (O)

Realty Income declared a 0.2% increase in its monthly dividend per share to $0.255. That was precisely as I projected.

My net annual forward dividends were lifted by $0.102 across my 17 shares of O due to the payout bump.

Dividend Increase #4: Dollar General (DG)

Dollar General announced a 7.3% hike in its quarterly dividend per share to $0.59, which wasn't the 10.9% boost that I was anticipating.

Across my three shares of DG, my net annual forward dividends increased by $0.48 as a result of the dividend announcement.

Dividend Increase #5: Williams-Sonoma (WSM)

Williams-Sonoma declared a 15.4% lift in its quarterly dividend per share to $0.90. This was more than double the 6.4% raise that I was predicting.

My net annual forward dividends were boosted by $4.80 across my 10 shares of WSM due to the payout increase.

Dividend Increase #6: Medifast (MED)

Medifast announced a 0.6% bump in its quarterly dividend per share to $1.65.

Across my seven shares of MED, my net annual forward dividends inched $0.28 higher as a result of the dividend announcement.

Dividend Freeze #1: American Tower (AMT)

American Tower kept its quarterly dividend per share in line with the previous at $1.56, which was below my expectation of a 1.3% increase.

Dividend Freeze #2: Innovative Industrial Properties (IIPR)

Innovative Industrial Properties held its quarterly dividend per share in line with the prior of $1.80, which was less than the 1.1% raise I was projecting.

Expected Dividend Increases for April 2023

Expected Dividend Increase #1: Southern Company (SO)

The first dividend increase that I'm expecting for next month is from Southern Company. I believe SO will announce a 2.9% bump in its quarterly dividend per share to $0.70.

My net annual forward dividends would increase by $0.40 across my five shares of SO if this raise were to play out as expected.

Expected Dividend Increase #2: Johnson & Johnson (JNJ)

The next payout hike that I am projecting in April will be from Johnson & Johnson. My best guess is that JNJ will declare a 6.2% increase in its quarterly dividend per share to $1.20.

Across my five shares, my net annual forward dividends would be lifted by $1.40 from such a dividend declaration.

Expected Dividend Increase #3: Raytheon Technologies (RTX)

The third dividend increase that I'm forecasting for next month is from Raytheon Technologies. I predict that RTX will announce a 7.3% hike in its quarterly dividend per share to $0.59.

My net annual forward dividends would increase by $1.12 across my seven shares of RTX due to such a dividend announcement.

Expected Dividend Increase #4: International Business Machines (IBM)

The next payout hike that I am forecasting in April will be from International Business Machines. My forecast is for a 3% bump in the quarterly dividend per share to $1.70.

Across my six shares of IBM, my net annual forward dividends would rise by $1.20 from such a dividend declaration.

Expected Dividend Increase #5: American Water Works (AWK)

The fifth dividend increase that I'm projecting for next month is from American Water Works. I believe that AWK will announce a 9.1% hike in its quarterly dividend per share to $0.72.

My net annual forward dividends would be lifted by $0.96 across my four shares of AWK from such an announcement.

Concluding Thoughts:

The six dividend increases that I received during March boosted my net annual forward dividends by $6.678. That's equivalent to investing $190.80 at a 3.5% dividend yield.

If I receive five dividend raises in the amount of $5.08 as I expect in April, this would be like investing $145.14 at a 3.5% net dividend yield.

Discussion:

How many dividend increases did you receive in March?

Did you receive any first-time payout hikes as I did with DG?

Thanks for reading. Please feel free to comment below!