As I'm writing this blog post, the first official day of summer is just two days away.
In an interesting twist, the first day of summer is set to be well below normal here in Central Wisconsin at a high of just 74 degrees Fahrenheit and a low of 55 Fahrenheit.
Moving to the intent of this post, I will be reviewing the dividend increases that I received during June 2021, and looking ahead to the dividend increases that I am expecting in July 2021.
Actual June 2021 Dividend Increases
Dividend Increase #1: Realty Income (O)
Dividend Increase #2: W.P. Carey (WPC)
Dividend Increase #3: UnitedHealth Group (UNH)
Surprise Dividend Increase: Simon Property Group
While Simon Property Group was due to begin increasing its dividend at some point as COVID restrictions ease and the economy recovers, especially after the 38.1% dividend cut last June as a measure of caution to preserve liquidity, it certainly came as a surprise to me when SPG increased its quarterly dividend 7.7% from $1.30/share to $1.40/share.
As a result of SPG's dividend increase, my net annual forward dividends were boosted by $2.40 across my 6 shares of the stock.
Expected Dividend Increases for July 2021
Expected Dividend Increase #1: Wells Fargo (WFC)
Expected Dividend Increase #2: J.M. Smucker (SJM)
Expected Dividend Increase #3: National Retail Properties (NNN)
Overall, O and WPC delivered just as I thought they would in June. I was very pleased to find that UNH's dividend increase slightly exceeded my expectations, and SPG's dividend increase took me by surprise.
These 4 dividend increases helped my net annual forward dividends to advance by $3.334 in June, which would take a fresh capital investment of $83.35 at a 4% yield to replicate.
While I am expecting less dividend increases in July compared to June, I am forecasting a $5.92 increase in my net annual forward dividends primarily due to WFC's anticipated dividend hike.