May Dividend Increases:
Dividend Increase #1: Lowe's Companies (LOW)
As I predicted LOW would, they increased their quarterly dividend by 14.6% from $0.48/share to $0.55. This increased my annual forward dividends by $0.56 across my 2 shares.
Dividend Increase #2: Leggett & Platt Incorporated (LEG)
LEG did exactly as I predicted they would, increasing their quarterly dividend by 5.3% from $0.38/share to $0.40. This resulted in a $0.40 increase to my annual forward dividend income across my 5 shares.
Expected Dividend Increases:
Expected Dividend Increase #1: Realty Income (O)
I am expecting O to continue its trend of increasing its dividend by roughly 0.3% in the last month of each quarter, in addition to the 3-4% increases in January. Therefore, I'd expect a raise in the monthly dividend from $0.2260/share to $0.2265. That would increase my annual forward dividends by $0.024 across my 4 shares.
Expected Dividend Increase #2: WP Carey (WPC)
I am also expecting WPC to remain predictable with the $0.005/share quarterly increases. An increase in the quarterly dividend from $1.032/share to $1.035 seems to be a likely occurrence, which would increase my annual forward dividend income by $0.036 across my 3 shares.
Expected Dividend Increase #3: Philip Morris International (PM)
This one is a complete wildcard. Although PM increased its dividend last June, it has historically raised its dividend in September. Given the reputation PM has for increasing its dividend around mid-single digits, I'd assume a dividend raise from the current quarterly dividend of $1.14/share to $1.20 seems like a reasonable prediction. This would increase my annual forward dividends by $0.96 across my 4 shares.
While the month of May didn't come close to April in terms of dividend increases, I still received two strong increases that were exactly what I expected they would be. These two raises increased my annual forward dividends by $0.96, which is equivalent to an investment of $24.00 at a 4% dividend yield.
Overall, June could result in a $0.06 increase to my annual forward dividends or a possible $1.02 increase in my dividends if PM announces a second consecutive dividend increase in June. Overall, the $1.02 in expected dividend increases for the month of June would take $25.50 of fresh capital invested at a 4% dividend yield. The trifecta of dividend increases, reinvestment, and occasional fresh capital continues to work its magic, and I couldn't be more pleased.
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