Tuesday, March 12, 2024

Brokerage Transfer/February 2024 Dividend Stock Purchases

As I'm writing this blog post, it's officially March. The temperature here in Central Wisconsin is a balmy 53 degrees Fahrenheit. Needless to say, that's quite warm for this time of year.

With that in mind, I just wanted to post a brief update on my dividend stock purchases/sales in February 2024.


As was the case in this series' previous post, I remained busy with improving liquidity in February as well. My emergency fund is a few months beyond my target at this point. However, before I allocate $6,500 to opening an IRA account, I want my liquidity to be built up a bit more. That is why there were no buys during the month.

This is also why my only transaction during February 2024 was a sale of 0.24 shares of Realty Income (O). This leads me into the primary focus of this post.

My Brokerage Account Is Now With Charles Schwab

The reason that I sold 0.24 shares of O last month was that I completed the transfer of my Robinhood account to Charles Schwab. I had a fractional share of O that was from its acquisition of Spirit Realty Capital (SRC) that closed in January. Any fractional shares of stock were sold off by Robinhood in the process of the account transfer. Since this was my only fractional share holding, that was my only sale in February.

Concluding Thoughts:

There was nothing personal in my decision to transfer from Robinhood to CS. I'll always be grateful for Robinhood in playing a role in the start of my investing journey. I just appreciated that CS is a much more established player than Robinhood in terms of years of business and assets under management.

As I alluded to in my March 2024 Dividend Stock Watch List, I look forward to again becoming a net buyer of equities later this month.

Discussion:

Have you ever switched brokers?

If so, what was the reasoning?

Thanks for reading and please feel free to comment below!

Tuesday, March 5, 2024

February 2024 Dividend Income

As I'm writing this blog post, it is Saturday, February 24. The temperature here in Central Wisconsin remains quite warm, with the high temperature expected to reach 34 degrees Fahrenheit today.

With that aside, I am going to highlight my net dividend income for February 2024.





In February 2024, I received $351.91 in net dividends. That works out to a 7.4% growth rate over the $327.57 in net dividends that I collected in November 2023.

My net dividends were 41.9% higher versus the $248.08 in net dividends that I received in February 2023.

Digging into detail, I collected $335.97 from 29 companies in my Robinhood account. My net dividends received within my Webull portfolio were $15.57 from three companies (inclusive of $0.06 of ADR fees for British American Tobacco). Finally, I collected $0.37 in net dividends from 15 companies in my M1 Finance account.

The net dividends that I received from November 2023 to February 2024 rose by $24.34, which was the result of the following activity in my portfolio:

My net dividends received from Medifast (MED) in my Robinhood account were $11.55 less, which was the result of my sale in December.

I collected $8.13 less from United Parcel Service (UPS) within my Robinhood and M1 Finance portfolios. That was due to the timing of the dividend payment.

I also received $3.66 less in net dividends from TJX Companies (TJX) in my Robinhood account, which was the result of the dividend payment timing.

I received an extra $0.22 in net distributions from Energy Transfer (ET) in my Robinhood and Webull portfolios, which was the result of the 0.8% raise in the quarterly distribution per unit to $0.315.

My net dividends collected from Main Street Capital (MAIN) grew by $0.15 within my Robinhood account. This was due to the 2.1% bump in its monthly dividend per share to $0.24.

I received an additional $3.93 in net dividends from Realty Income (O) in my Robinhood portfolio. That was the result of my higher share count associated with the shares I received related to the Spirit Realty Capital acquisition.

My net dividends collected from STAG Industrial (STAG) were $0.02 higher within my Robinhood account, which was due to the 0.7% increase in its monthly dividend per share to $0.1233.

I received an extra $0.36 in net dividends from Alliant Energy (LNT) in my Robinhood portfolio. That was the result of the 6.1% raise in the quarterly dividend per share to $0.48.

My net dividends collected from AbbVie (ABBV) were $0.98 higher within my Robinhood account, which was due to the 4.7% increase in the quarterly dividend per share to $1.55.

I received an additional $0.24 in net dividends from Abbott Laboratories (ABT) in my Robinhood portfolio. That was the result of the 7.8% raise in the quarterly dividend per share to $0.55.

My net dividends collected from ONEOK (OKE) were $1.19 higher within my Robinhood account, which was due to the 3.7% increase in the quarterly dividend per share to $0.99.

I received an extra $0.79 in net distributions from Enterprise Products Partners (EPD) in my Robinhood and Webull portfolios. That was the result of the 3% raise in the quarterly distribution per unit to $0.515.

My net distributions collected from MPLX LP (MPLX) were $27.20 higher within my Robinhood account, which was due to my purchases in November and December.

I received an additional $0.48 in net dividends from British American Tobacco (BTI) in my Robinhood portfolio.

My net dividends collected from Bristol-Myers Squibb (BMY) were $0.66 higher within my Robinhood account. That was the result of the 5.3% raise in the quarterly dividend per share to $0.60.

I received an extra $10.20 in net dividends from American Tower (AMT) in my Robinhood portfolio, which was due to the timing of the dividend payment and the 5.6% raise in the quarterly dividend per share to $1.70.

My net dividends collected from CVS Health (CVS) were $0.90 higher within my Robinhood account. That was the result of the 9.9% raise in the quarterly dividend per share to $0.665.

I received an additional $0.36 in net dividends from Mastercard (MA) in my Robinhood portfolio, which was due to the 15.8% boost in the quarterly dividend per share to $0.66.

Concluding Thoughts:

February 2024 was the first middle of the month quarter that my net dividend income surpassed $350. As I resume investing soon, reinvest dividends, and receive dividend raises, this should hopefully continue to grow over time.

Discussion:

How was your February 2024 for dividend income?

Did you receive any first-time distributions/dividends as I did with MPLX?

Thanks for your readership and please leave your comments below!

Tuesday, February 27, 2024

Expected Dividend Increases for March 2024

As I'm writing this blog post, it is Friday, February 16th. The high temperatures here in Central Wisconsin are expected to reach into the 40s over the next week. Needless to say, that's a heat wave for this time of year!

With that said, I have received my dividend raises that I anticipated for the month. Thus, I will be discussing those and looking ahead to the next month of dividend raises that I am predicting.

Actual Dividend Increases for February 2024

Dividend Increase #1: Shell (SHEL)

Shell announced a 3.9% increase in its quarterly dividend per share to $0.688.

Across my nine shares of SHEL, my net annual forward dividends rose by $0.936 due to this announcement.

Dividend Increase #2: Simon Property Group (SPG)

Simon Property Group declared a 2.6% raise in its quarterly dividend per share to $1.95.

My net annual forward dividends climbed by $1.80 across my nine shares of SPG from this declaration.

Dividend Increase #3: Prudential Financial (PRU)

Prudential Financial announced a 4% bump in its quarterly dividend per share to $1.30, which was in line with my prediction in the previous post of this series.

Across my 10 shares of PRU, my net annual forward dividends grew by $2 due to this announcement.

Dividend Increase #4: Tractor Supply (TSCO)

Tractor Supply declared a 6.8% raise in its quarterly dividend per share to $1.10. This was slightly below my expectation of $1.12.

My net annual forward dividends increased by $1.40 across my five shares of TSCO from this declaration.

Dividend Increase #5: Brookfield Asset Management (BAM)

Brookfield Asset Management announced an 18.8% boost in its quarterly dividend per share to $0.38. That was better than the $0.36 that I predicted.

Across my 30 shares of BAM, my net annual forward dividends climbed higher by $7.20 due to this announcement.

Dividend Increase #6: Hershey (HSY)

Hershey declared a 14.9% hike in its quarterly dividend per share to $1.37.

My net annual forward dividends grew by $3.56 across my five shares of HSY from this declaration.

Dividend Increase #7: PepsiCo (PEP)

PepsiCo announced a 7.1% raise in its quarterly dividend per share to $1.355. This was just below my forecast of $1.365.

Across my six shares of PEP, my net annual forward dividends rose by $2.16 due to this announcement.

Dividend Increase #8: Cisco Systems (CSCO)

Cisco Systems declared a 2.6% increase in its quarterly dividend per share to $0.40, which was what I projected.

My net annual forward dividends grew by $0.88 across my 22 shares of CSCO from this declaration.

Dividend Increase #9: Coca-Cola (KO)

Coca-Cola announced a 5.4% raise in its quarterly dividend per share to $0.485. That was just ahead of the $0.48 that I predicted.

Across my 10 shares of KO, my net annual forward dividends increased by $1 due to this announcement.

Dividend Increase #10: Genuine Parts Company (GPC)

Genuine Parts Company declared a 5.3% bump in its quarterly dividend per share to $1, which was below the $1.01 that I anticipated.

My net annual forward dividends edged higher by $1.20 across my six shares of GPC from this declaration.

Dividend Increase #11: NextEra Energy (NEE)

NextEra Energy announced a 10.2% boost in its quarterly dividend per share to $0.515. That was in line with my prediction.

Across my 13 shares of NEE, my net annual forward dividends grew by $2.47 due to this announcement.

Dividend Increase #12: The Home Depot (HD)

The Home Depot hasn't declared its next quarterly dividend, but I'm reiterating my forecast of a 5.7% increase to $2.21.

My net annual forward dividends would grow by $2.40 across my five shares from such a declaration.

UPDATE: HD declared a 7.7% raise in its quarterly dividend per share to $2.25. My net annual forward dividends grew by $3.20 as a result across my five shares.

Dividend Increase #13: Allstate (ALL)

Allstate hasn't announced its next quarterly dividend. However, I'm standing by my prediction of a 5.6% raise to $0.94.

Across my five shares, my net annual forward dividends would rise by $1 due to such an announcement.

UPDATE: ALL announced a 3.4% raise in its quarterly dividend per share to $0.92. Across my five shares, that was an extra $0.60 in net annual forward dividends.

Dividend Increase #14: L3Harris Technologies (LHX)

L3Harris Technologies hasn't announced its next quarterly dividend. Yet, I believe that it will be upped by 4.4% to $1.19.

Across my four shares of LHX, my net annual forward dividends would increase by $0.80 due to such an announcement.

UPDATE: LHX announced a 1.8% increase in its quarterly dividend per share to $1.16. My net annual forward dividends grew by $0.32 across my four shares.

Dividend Freeze: Albemarle (ALB)

Albemarle hasn't yet declared its next quarterly dividend. But I am maintaining my expectation of a 1.3% raise to $0.405.

My net annual forward dividends would increase by $0.16 across my eight shares from such a declaration.

UPDATE: Albemarle kept its quarterly dividend per share at $0.40. Given its capex situation and industry headwinds, I don't necessarily blame the company for doing so.

Expected Dividend Increases for March 2024

Expected Dividend Increase #1: Dollar General (DG)

My best guess is that Dollar General will declare a 6.8% increase in its quarterly dividend per share to $0.63.

My net annual forward dividends would grow by $0.64 across my four shares if such a declaration plays out.

Expected Dividend Increase #2: General Dynamics (GD)

I believe that General Dynamics will announce a 6.1% raise in its quarterly dividend per share to $1.40.

Across my six shares of GD, my net annual forward dividends would rise by $1.92 from such an announcement.

Expected Dividend Increase #3: Realty Income (O)

I am predicting that Realty Income will declare a 0.2% increase in its monthly dividend per share to $0.257.

My net annual forward dividends would edge higher by $0.234 across my 39 shares of O if such a declaration pans out.

Expected Dividend Increase #4: TJX Companies (TJX)

My best guess is that TJX Companies will announce an 11.3% hike in its quarterly dividend per share to $0.37.

Across my 11 shares of TJX, my net annual forward dividends would rise by $1.65 from such an announcement.

Expected Dividend Increase #5: Williams-Sonoma (WSM)

I believe that Williams-Sonoma will declare a 6.7% bump in its quarterly dividend per share to $0.96.

My net annual forward dividends would grow by $2.40 across my 10 shares of WSM if such a declaration occurs.

Concluding Thoughts:

With no anticipated announcements remaining, my net annual forward dividends grew by $28.726 in February 2024. That would be equivalent to investing $957.53 in capital at a 3% weighted average dividend yield.

If the five raises that I'm expecting materialize in March, my net annual forward dividends would grow by $6.844. This would be similar to investing $228.13 in capital at a 3% net dividend yield.

Discussion:

How was your February 2024 for dividend hikes?

Did you receive any first-time payout increases for the month?

I appreciate your readership and look forward to your comments!

Tuesday, February 20, 2024

March 2024 Dividend Stock Watch List

As I'm writing this blog post, Valentine's Day is just two days away. The weather here in Central Wisconsin has remained unusually warm, with the high temperature today reaching 45 degrees Fahrenheit. That's well above the average high of 30 degrees Fahrenheit for the month of February, so I'm very happy to have such warm weather.

Now that I have largely built up my liquidity to my preferences, I am tentatively planning on being a buyer of equities in March with my own capital. Without further ado, please allow me to briefly discuss a few of the stocks on my watch list heading into next month.


Image Source: Pexels

Dividend Stock #1: Agree Realty (ADC)

The first dividend stock on my watch list for March 2024 is Agree Realty (ADC). Readers can check out my Seeking Alpha article from December for the in-depth investment thesis.

The gist of it is that I'm very impressed with CEO Joey Agree's knowledge base and transparency. ADC's ~5% dividend yield is well-covered and I believe can keep growing by around 4% to 5% annually. That's an attractive combination of starting income and growth potential. Lastly, shares could be worth well into the $70 range, suggesting sizable undervaluation at the current $58 share price. Therefore, I want to open a position in ADC.

Dividend Stock #2: Automatic Data Processing (ADP)

Next up on my watch list for next month is Automatic Data Processing (ADP). Curious readers can find my detailed investment thesis in my recent Seeking Alpha article.

ADP's 2.2% dividend yield isn't flashy, but its payout ratio is reasonable. The company's growth prospects are also quite strong. Lastly, shares are slightly discounted at the present $250 share price. Thus, why I want to add to my position.

Dividend Stock #3: Enbridge (ENB)

Last but not least on my watch list for March 2024 is Enbridge (ENB). Intrigued readers can check out my more specific investment thesis outlined in my Seeking Alpha article from December.

Like ADC and ADP, ENB's 7.8% dividend yield appears to be safely covered. Combined with modest growth prospects and a discounted valuation from the current $35 share price, this is why I am interested in opening a position.

Concluding Thoughts:

I'm excited to have the opportunity to be a net buyer of dividend stocks for the first time since August 2023. Along with a few other stocks that are on my watch list, I believe my targeted adds are very high-quality companies.

Discussion:

Are any of the noted stocks on your watch list for March 2024?

If not, what stocks are on your radar for next month?

As always, I'm grateful for your readership and welcome your comments below!