Expected Dividend Increases For May 2024

As I'm writing this blog post on Friday, April 19th, it is currently 45 degrees Fahrenheit here in Central Wisconsin. For this time of the year, that's a bit on the chilly side. But the good news is that a warming trend is right around the corner, with temperatures expected to reach into the 60s by early next week.

With that aside, I will discuss the dividend increases that I have received thus far in April. At this time, there are still three dividend raises that I'm waiting for yet and still expect. As they come in next week, I will update this blog post accordingly. Also, I will go over the payout hikes that I'm expecting for next month.

Actual Dividend Increases For April 2024

Dividend Increase #1: Agree Realty (ADC)

Agree Realty announced a 1.2% raise in its monthly dividend per share to $0.25. Across my 20 shares of ADC, my net annual forward dividends grew by $0.72 due to this dividend announcement. As I will outline in next week's blog post, this was my first raise from ADC as I just opened a position last month.

Dividend Increase #2: Johnson & Johnson (JNJ)

Johnson & Johnson declared a 4.2% increase in its quarterly dividend per share to $1.24. This was below my expectation of a 5.9% bump to $1.26.

My net annual forward dividends rose by $1 across my five shares of JNJ as a result of this dividend declaration.

Dividend Increase #3: Tanger Inc. (SKT)

Tanger Inc. announced a 5.8% lift in its quarterly dividend per share to $0.275, which was what I anticipated.

Across my 11 shares of SKT, my net annual forward dividends climbed by $0.66 due to this dividend announcement.

Pending Increases: Energy Transfer (ET), FedEx (FDX), International Business Machines (IBM), RTX Corp (RTX), Southern Company (SO)

These companies haven't yet announced their dividends/distributions, but here is what I am expecting from my previous post of the series for each:

ET: 0.8% raise to $0.3175, which would be an $0.86 lift to my net annual forward dividends across my 86 units.

UPDATE: 

As anticipated, ET declared a 0.8% raise in its quarterly distribution per unit to $0.3175. This lifted my net annual forward distributions by $0.86 across my 86 units.

FDX: 9.5% boost to $1.38, which would work out to a $1.92 increase in my net annual forward dividends for my four shares.

IBM: 0.6% increase to $1.67, which would be an additional $0.24 in net annual forward dividends across my six shares.

RTX: 6.8% raise to $0.63, which would be an extra $1.92 in my net annual forward dividends for my 12 shares.

SO: 2.9% increase to $0.72, which would be an additional $0.40 in net annual forward dividends across my five shares

UPDATE:

As I expected, SO announced a 2.9% raise in its quarterly dividend per share. This was a $0.40 lift to my net annual forward dividends.

Surprise Announcement: Alphabet (GOOGL)

GOOGL initiated a $0.20 quarterly dividend per share. This boosted my net annual forward dividends by $16 across my 20 shares of GOOGL.

Expected Dividend Increases For May 2024

Expected Dividend Increase #1: American Water Works (AWK)

Since American Water Works won't be reporting earnings until May 1, I'm pushing my anticipated raise into May. My forecast remains unchanged for an 8.1% hike in the quarterly dividend per share to $0.765.

This would be a $0.92 boost in my net annual forward dividends across my four shares of AWK.

Expected Dividend Increase #2: Lowe's (LOW)

The next dividend increase that I'm expecting for May will be from Lowe's. My best guess is that LOW will raise the quarterly dividend per share by 4.5% to $1.15.

Across my 10 shares of LOW, my net annual forward dividends would rise by $2 from such an announcement.

Expected Dividend Increase #3: Main Street Capital (MAIN)

The third raise that I believe will happen next month will come from Main Street Capital. I believe that MAIN will declare a 2.1% increase in its monthly dividend per share to $0.245.

My net annual forward dividends would grow by $1.80 across my 30 shares of MAIN due to such a declaration.

Expected Dividend Increase #4: Medtronic (MDT)

The next dividend bump that I'm projecting for May will be from Medtronic. My prediction is that MDT will increase the quarterly dividend per share by 1.4% to $0.70.

Across my 13 shares of MDT, my net annual forward dividends would rise by $0.52 from such an announcement.

Expected Dividend Increase #5: Simon Property Group (SPG)

The final dividend raise that I'm expecting for next month will come from Simon Property Group. My best guess is that SPG will up the quarterly dividend per share by 2.6% to $2.

My net annual forward dividends would grow by $1.80 across my nine shares of SPG due to such a declaration.

Concluding Thoughts:

The five dividend raises and one dividend initiation that I have received thus far in April amount to a $19.64 lift to my net annual forward dividends. If the remaining increases play out as expected, that would be another $4.08. All together, that would equal $23.72. At a 3% net dividend yield, this would be like $790.67 in fresh capital being invested.

The five raises that I'm anticipating for next month would be a $7.04 boost in my net annual forward dividends. This would be like investing $234.67 in fresh capital at a 3% average dividend yield.

Discussion:

How was your April for dividend raises?

Did you receive any first-time payout boosts as I did with ADC or first-time payouts like I did with GOOGL?

Thank you for reading and please feel free to comment below!