Expected Dividend Increases for June 2023

As I'm writing this blog post on Saturday, May 27th, the temperature is poised to reach a high of 75 degrees Fahrenheit here in Central Wisconsin. Add in that it will be a mostly sunny day and the conditions are ripe for an absolutely spectacular day. That's precisely why I plan on getting outside later today!

With that aside, the month is May is just about over. This means that now is a good time to look at the dividend increases that I received for the month and to look ahead to June.

Actual Dividend Increases for May 2023

Dividend Increase #1: Main Street Capital (MAIN)

As indicated in my previous post of this series, Main Street Capital declared a 2.2% increase in its monthly dividend per share to $0.23. This lifted my net annual forward dividends by $1.80 across my 30 shares of MAIN.

Dividend Increase #2: Simon Property Group (SPG)

Simon Property Group announced a 2.8% raise in its quarterly dividend per share to $1.85. Across my nine shares of SPG, my net annual forward dividends grew by $1.80 from this announcement.

Dividend Increase #3: Leggett & Platt (LEG)

Leggett & Platt declared a 4.5% bump in its quarterly dividend per share to $0.46. This declaration led my net annual forward dividends higher by $1.20 across my 15 shares of LEG.

Dividend Increase #4: Medtronic (MDT)

Medtronic announced a 1.5% increase in its quarterly dividend per share to $0.69, which came in below my estimate of a 5.9% boost in the quarterly dividend per share to $0.72. Across my eight shares of MDT, my net annual forward dividends grew by $0.32 due to this announcement.

Dividend Increase #5: Lowe's (LOW)

Lowe's declared a 4.8% raise in its quarterly dividend per share to $1.10. This was less than my prediction of an 8.6% lift in the quarterly payout per share to $1.14. My net annual forward dividends were lifted higher by $1.60 across my eight shares of LOW from this declaration.

Dividend Increase #6: American Tower (AMT)

American Tower announced a 0.6% bump in its quarterly dividend per share to $1.57. Across my three shares of AMT, my net annual forward dividends increased by $0.12 due to this announcement.

Expected Dividend Increases for June 2023

Expected Dividend Increase #1: Realty Income (O)

The first dividend increase that I'm predicting for next month will be from Realty Income. I believe O will declare a 0.2% raise in its monthly dividend per share to $0.2555. If this raise plays out, my net annual forward dividends would grow by $0.144 across my 24 shares of O.

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

The next payout bump that I am expecting for June is from W.P. Carey. My best guess is that WPC will announce a 0.2% increase in its quarterly dividend per share to $1.069. Across my seven shares of WPC, my net annual forward dividends would rise by $0.056 from such an announcement.

Expected Dividend Increase #3: UnitedHealth Group (UNH)

The third dividend increase that I'm projecting for next month will be from UnitedHealth Group. I anticipate that UNH will declare a 12.1% boost in its quarterly dividend per share to $1.85. My net annual forward dividends would soar by $2.40 across my three shares due to such a declaration.

Expected Dividend Increase #4: General Mills (GIS)

The final payout raise that I am expecting for June is from General Mills. I believe GIS will announce a 5.6% increase in its quarterly dividend per share to $0.57. Across my four shares of GIS, my net annual forward dividends would grow by $0.48 from such an announcement.

Concluding Thoughts:

My net annual forward dividends rose by $6.84 from the six dividend increases that I received in May. This would be equivalent to investing $228 at a weighted average 3% dividend yield. 

Looking at June, my net annual forward dividends could climb by $3.08 if my predictions pan out. This would be the same as investing $102.67 at a net dividend yield of 3%. Last but certainly far from least, thanks to all of the military veterans (and their families) who have made the ultimate sacrifice for the United States of America!

Discussion:

How many payout raises did the holdings in your portfolio announce last month?

Did you receive any first-time dividend hikes in May 2023?

Thanks for reading and please feel free to comment below!

June 2023 Dividend Stock Watch List

As I'm writing this blog post on Friday, May 19th, the weather is set to be ideal here in Central Wisconsin. The high temperatures are going to reach into the low- to mid-70s Fahrenheit this weekend with sunshine. That's precisely why I plan on knocking this blog post out of the way to get outside this weekend!

With the month of May not far away from being complete, now would be a good time to highlight three dividend stocks that are on my radar for June 2023.

Image source: Pexels

Dividend Stock #1: Enterprise Products Partners (EPD)

The first dividend stock on my watch list for June 2023 is Enterprise Products Partners (EPD). It has been a while since I covered the stock on Motley Fool. But the basic premise of my investment thesis remains intact from my prior article covering EPD last November (as well as Altria Group and VICI Properties).

Natural gas, crude oil, and petrochemicals are essential to the modern economy and will remain that way for at least several decades. And few companies stand to benefit as much from the demand for these products as EPD, with its 50k-plus miles of energy infrastructure throughout the U.S. The company has also grown its distribution for almost a quarter of a century (nearly as long as I have been alive). Income investors can pick up the stock's 7.5% distribution yield at a unit price of just $26.15 (as of May 19, 2023).

Dividend Stock #2: General Dynamics (GD)

The next dividend stock I'm watching for next month is General Dynamics (GD). As I explained in my previous Motley Fool article on the stock (and Home Depot and Genuine Parts) earlier this month, defense contractors won't be going away anytime soon.

As one of the biggest players in its industry, GD is well-positioned to keep growing in the future. Coupled with a market-beating 2.5% dividend yield, the stock is a solid buy in my opinion at the current $211 share price (as of May 19, 2023).

Dividend Stock #3: Medtronic (MDT)

The third dividend stock on my watch list for June 2023 is Medtronic (MDT). Readers looking for a more in-depth dive into MDT can check out my last Motley Fool article on the stock (and Cigna) from last month.

Basically, MDT's varying medical devices reach tens of millions of patients each year. And with the company investing billions of dollars each year on research and development, its reach is likely to grow in the future. This should support respectable growth in the payout moving forward as well. Dividend growth investors can buy the stock and its 3.1% dividend yield at an attractive share price of just $89.64 (as of May 19, 2023).

Concluding Thoughts:

If things go as planned, June 2023 will be another month of capital deployment in the low-$3,000 range. I'm looking forward to adding to my positions in at least several world-class dividend growth stocks next month!

Discussion:

Are any of EPD, GD, or MDT on your watch list for next month?

If not, what stocks are you thinking about buying in June 2023?

I appreciate your readership and welcome your comments below!

April 2023 Dividend Income

As I'm writing this blog post on May 12, the temperature here in Central Wisconsin is expected to reach 70 degrees Fahrenheit and we are receiving some much-needed rain to green up the grass.

With that aside, now is a good time to discuss the dividend income that I received in April 2023. Let's dig in.

During April 2023, I collected $222.78 in net dividends. This works out to a 1.3% quarterly growth rate against the $220.01 in net dividends received in January 2023.

Compared to the $139.19 in net dividends collected in April 2022, my net dividends grew at a year over year rate of 60.1%.

Going into further detail, I received $212.73 in net dividends from 29 stocks in my Robinhood portfolio. The four stocks within my Webull account produced $9.90 in net dividends for the quarter. Finally, I collected $0.15 in net dividends from seven stocks in my M1 Finance portfolio.

My net dividends received across my accounts edged $2.77 higher, which was due to the following activity:

I collected an extra $4.68 in net dividends from American Tower (AMT) within my Robinhood portfolio, which was the result of the timing of the dividend payment.

My net dividends received from Comcast (CMCSA) grew by $0.50 in my Robinhood account. This was due to the 7.4% dividend hike announced in January.

I collected an additional $0.22 in net dividends from Cisco (CSCO) within my Robinhood portfolio, which was the result of the 2.6% payout increase declared in February.

My net dividends received from Dollar General (DG) increased by $2.36 in my Robinhood account. This was due to my decision to open a position in the company in March.

I collected an extra $0.01 from STAG Industrial (STAG) within my Robinhood portfolio, which was the result of the 0.7% dividend raise in January.

My net dividends received from W.P. Carey (WPC) also rose by $0.01 in my Robinhood account. This was due to the 0.2% dividend increase announced in March.

I collected an additional $1.35 in net dividends from Main Street Capital (MAIN) within my Robinhood portfolio, which was the result of my purchase of six shares of MAIN in January.

My net dividends received from Realty Income (O) increased by $0.12 in my Robinhood account. This was due to the 2.4% dividend raise declared in February and the 0.2% raise in March.

I collected an extra $0.09 in net dividends from GSK Plc (GSK) within my Robinhood and M1 Finance portfolios, which was the result of the variability of its dividend payments.

My net dividends received from Kimberly Clark (KMB) increased by $0.08 in my Robinhood account. This was due to the 1.7% dividend increase announced in January.

I collected an additional $4.60 in net dividends from Coca-Cola (KO) within my Robinhood portfolio, which was the result of the timing of the dividend payment.

My net dividends received from FedEx (FDX) increased by $1.15 in my Robinhood account. This was due to my purchase of another share in December.

I collected an extra $5.00 in net dividends from Automatic Data Processing (ADP) within my Robinhood portfolio, which was the result of my purchase of four shares in February.

My net dividends received from Genuine Parts (GPC) rose by $0.33 in my Robinhood account. This was due to the 6.1% dividend hike declared in February.

I collected an additional $0.20 in net dividends from Allstate (ALL) within my Robinhood portfolio, which was the result of a 4.7% payout raise announced in February.

My net dividends received from Albemarle (ALB) grew by $0.03 in my Robinhood and Webull accounts. This was due to the 1.3% dividend increase declared in February.

I collected $6.02 less in net dividends from JPMorgan Chase (JPM) within my Robinhood and M1 Finance account, which was due to the timing of the dividend payment.

My net dividends received from PepsiCo (PEP) in my Robinhood and M1 Finance portfolios were $4.62 lower. This was the result of the dividend payment timing.

I collected $7.32 less in net dividends from Digital Realty Trust (DLR) in my Robinhood account, which was again due to the timing of the dividend payment.

Concluding Thoughts:

Since I plan on maintaining my monthly capital deployment in the range of $3,000 to $3,500, my net dividends should continue to steadily grow at a rapid rate moving forward.

Discussion:

How was your dividend income last month?

Did you receive any first-time dividends in April 2023 as I did with ADP and DG?

Thanks for reading and please feel free to leave a comment below!

Expected Dividend Increases for May 2023

As I'm writing this blog post, the month of April has been over for a week. But you certainly wouldn't know it by the weather here in Central Wisconsin: Only in recent days have we surpassed 60 degrees Fahrenheit for the first time in several weeks.

With that in mind, let's go over the payout raises that I received in April 2023 and look ahead to the dividend boosts that I am expecting in May 2023.

Actual Dividend Increases for April 2023

Dividend Increase #1: FedEx (FDX)

FedEx announced a 9.6% hike in its quarterly dividend per share to $1.26. Across my four shares of FDX, my net annual forward dividends rose by $1.76 from this announcement.

Dividend Increase #2: Tanger Factory Outlet Centers (SKT)

Tanger Factory Outlet Centers declared an 11.4% boost in its quarterly dividend per share to $0.245. My net annual forward dividends were lifted higher by $1.10 across my 11 shares of SKT from this declaration.

Dividend Increase #3: Southern Company (SO)

Southern Company announced a 2.9% increase in its quarterly dividend per share to $0.70, which was in line with my expectations in the prior blog post of this series. Across my five shares of SO, my net annual forward dividends edged upward by $0.40 from this announcement.

Dividend Increase #4: Johnson & Johnson (JNJ)

Johnson & Johnson declared a 5.3% lift in its quarterly dividend per share to $1.19. This was just below my prediction of a 6.2% raise. My net annual forward dividends surged higher by $1.20 across my five shares of JNJ from this declaration.

Dividend Increase #5: Raytheon Technologies (RTX)

Raytheon Technologies announced a 7.3% hike in its quarterly dividend per share to $0.59, which was on the money with my forecast. Across my seven shares of RTX, my net annual forward dividends rose by $1.12 from this announcement.

Dividend Increase #6: International Business Machines (IBM)

International Business Machines declared a token 0.6% increase in its quarterly dividend per share to $1.66. This was below my expectation of a 3% bump in the payout. My net annual forward dividends edged $0.24 higher across my six shares of IBM from this declaration.

Dividend Increase #7: American Water Works (AWK)

American Water Works (AWK) announced an 8% raise in its quarterly dividend per share to $0.7075, which was less than the 9.1% boost that I was anticipating. Across my four shares of AWK, my net annual forward dividends edged upward by $0.84 from this announcement. 

Dividend Increase #8: Energy Transfer (ET)

Energy Transfer declared a 0.8% bump in its quarterly distribution per unit to $0.3075. My net annual forward distributions increased by $0.86 across my 86 units of ET from this declaration.

Expected Dividend Increases for May 2023

Already Announced: Simon Property Group (SPG)

I was late to the party on this prediction as Simon Property Group already announced a 2.8% raise in its quarterly dividend per share to $1.85. But I swear that this was my prediction (lol). Across my nine shares, this boosted my net annual forward dividends by $1.80 from this announcement.

Already Announced: Leggett & Platt (LEG)

Similar to SPG, Leggett & Platt has already declared a 4.5% increase in its quarterly dividend per share to $0.46. My net annual forward dividends surged higher by $1.20 across my 15 shares of LEG from this declaration.

Already Announced: Main Street Capital (MAIN)

Main Street Capital already upped its monthly dividend per share by 2.2% to $0.23. Across my 30 shares of MAIN, my net annual forward dividends were boosted by $1.80 from this announcement.

Expected Dividend Increase #1: Union Pacific (UNP)

The first dividend raise that I'm expecting for the month of May that hasn't already been declared will be from Union Pacific. I believe UNP will up its quarterly dividend per share by 6.9% to $1.39. My net annual forward dividends would rise by $1.44 across my four shares of UNP from such a declaration.

Expected Dividend Increase #2: Medtronic (MDT)

My second payout hike that I am forecasting for this month is from Medtronic. My best guess is that MDT will announce a 5.9% increase in its quarterly dividend per share to $0.72. Across my eight shares of MDT, my net annual forward dividends would be boosted by $1.28 from this announcement.

Expected Dividend Increase #3: Lowe's (LOW)

The third and final payout increase that I'm expecting yet for this month will be from Lowe's. My prediction is that Lowe's will declare an 8.6% raise in its quarterly dividend per share to $1.14. My net annual forward dividends would be lifted by $2.88 across my eight shares of LOW from such a declaration.

Concluding Thoughts:

My net annual forward dividends rose by $7.52 due to the eight payout raises that I received in April. This is equivalent to investing $250.67 at a weighted average dividend yield of 3%.

The three dividend hikes that I already received for May paired with the three others that I am expecting would lift my net annual forward dividends by $10.40. This is the same as investing $346.67 at a weighted average net yield of 3%.

Discussion:

How many dividend increases were announced by the holdings in your portfolio during the month of April 2023?

Did you receive any first-time payout boosts last month?

I appreciate your readership and look forward to your comments below!