Expected Dividend Increases for July 2023

As I'm initially writing this blog post on Friday, June 23, the weather forecast is predicting a sunny day with a high of 85 degrees Fahrenheit today here in Central Wisconsin. That's precisely why I plan on getting outside today for a while!

The date on the calendar makes now a good time to discuss the dividend increases that I received in the month and look ahead to likely dividend increases for July 2023.

Actual Dividend Increases for June 2023

Dividend Increase #1: UnitedHealth Group (UNH)

UnitedHealth Group announced a 13.9% boost in its quarterly dividend per share to $1.88. This was better than my prediction of a 12.1% increase that was highlighted in my previous post of this series.

Across my three shares of UNH, my net annual forward dividends rose by $2.76 due to this dividend announcement.

Dividend Increase #2: Realty Income (O)

Realty Income declared a 0.2% increase in its monthly dividend per share to $0.2555, which was in line with my estimate.

My net annual forward dividends edged $0.144 higher as a result of O's dividend declaration across my 24 shares.

Dividend Increase #3: W.P. Carey (WPC)

W.P. Carey announced a 0.2% bump in its quarterly dividend per share to $1.069. This was as I expected.

Across my seven shares of WPC at the time of the dividend announcement, this increased my net annual forward dividends by $0.056.

Dividend Increase #4: General Mills (GIS)

As I discussed in the prior post of this series, I expect General Mills to declare a 5.6% increase in its quarterly dividend per share to $0.57. When its earnings results drop on Wednesday, June 28, I anticipate that this dividend declaration will be made. Such a declaration would provide a $0.48 benefit to my net annual forward dividends across my four shares of GIS.

UPDATE: GIS crushed my expectations, delivering a 9.3% increase in its quarterly dividend per share to $0.59. Across my four shares of the stock, my net annual forward dividends grew by $0.80 from this declaration.

Dividend Increase #5: Wells Fargo (WFC)

Wells Fargo announced a 16.7% boost in its quarterly dividend per share to $0.35 as I would have predicted. My net annual forward dividends were lifted by $1.60 across my eight shares of WFC from the announcement.

Dividend Increase #6: JPMorgan Chase (JPM)

JPMorgan Chase declared a 5% increase in its quarterly dividend per share to $1.05. Across my six shares of JPM, my net annual forward dividends grew by $1.20 from the dividend declaration.

Expected Dividend Increases for July 2023

Expected Dividend Increase #1: Energy Transfer (ET)

The first distribution lift that I'm projecting for July 2023 will come from Energy Transfer. My guess is that ET will announce a 0.8% increase in its quarterly distribution per unit to $0.31.

Across my 86 units of ET, this announcement would result in an additional $0.86 in net annual forward dividends for my portfolio.

Expected Dividend Increase #2: Hershey (HSY)

The next dividend boost that I am expecting next month will be from Hershey. I believe that HSY will declare a 10% raise in its quarterly dividend per share to $1.14.

My net annual forward dividends would grow by $1.248 from such a declaration across my three shares of HSY.

Expected Dividend Increase #3: J.M. Smucker (SJM)

The third dividend increase that I'm predicting for July 2023 will come from J.M. Smucker. My projection is that SJM will announce a 5.9% increase in its quarterly dividend per share to $1.08.

Across my three shares of SJM, such an announcement would lift my net annual forward dividends by $0.72.

Expected Dividend Increase #4: Cummins (CMI)

The fifth dividend boost that I'm anticipating for July 2023 will come from Cummins. I believe that CMI will announce a 7% increase in its quarterly dividend per share to $1.68.

Across my five shares of CMI, my net annual forward dividends would grow by $2.20 from such an announcement.

Expected Dividend Increase #5: Duke Energy (DUK)

The next dividend raise that I am expecting next month will be from Duke Energy. My projection is that DUK will declare a 2% bump in its quarterly dividend per share to $1.025.

My net annual forward dividends would increase by $0.48 across my six shares of DUK from such a declaration.

Expected Dividend Increase #6: Clorox (CLX)

The seventh dividend raise that I'm predicting for July 2023 will come from Clorox. My guess is that CLX will announce a 0.8% increase in its quarterly dividend per share to $1.19.

Across my two shares of CLX, my net annual forward dividends would edge higher by $0.08 from such an announcement.

Expected Dividend Increase #7: NNN REIT (NNN)

The next dividend increase that I am anticipating for next month will be from NNN REIT. I believe that NNN will declare a 3.6% bump in its quarterly dividend per share to $0.57.

My net annual forward dividends would be lifted by $1.44 across my 18 shares of NNN from such a declaration.

Concluding Thoughts:

My net annual forward dividends increased by $6.56 from the six dividend increases that I received in June. This equates to investing $218.67 of fresh capital at a net dividend yield of 3%.

Looking ahead to next month, my net annual forward dividends could rise by $7.028 if my seven dividend increase predictions play out as expected. This would be equivalent to investing $234.27 at a weighted average 3% dividend yield.

Discussion:

How was your June 2023 for dividend hikes?

Did you receive any first-time payout raises during the month?

I appreciate your readership and welcome your comments below!