Tuesday, May 17, 2022

June 2022 Dividend Stock Watch List

As I'm writing this blog post, the temperature is 75 degrees Fahrenheit here in Central Wisconsin. This is a major cool off from the highs that reached into the low-90 degrees Fahrenheit range over the last couple of days. And with highs in the low to mid-60 degrees Fahrenheit for the next few days, it will be an especially great time to get outside. 

But without further ado, let's dive into a few dividend stocks that are on my watch list for June 2022 since almost half of May is already in the books.

Image Source: Pexels

Dividend Stock #1: Kinder Morgan (KMI)

Kinder Morgan (KMI) owns and/or operates approximately 83,000 miles of pipelines that predominantly transport natural gas, as well as gasoline, crude oil, and carbon dioxide. The company's network is used to transport 40% of U.S. natural gas consumption and exports, which points to an especially bright future (details sourced from slide 3 of Kinder Morgan May 2022 Investor Presentation).

That's because the International Energy Agency anticipates that total global energy demand for natural gas and oil products will steadily increase from 2020 to 2040 (slide 11 of Kinder Morgan May 2022 Investor Presentation). KMI's long-term contracts are mostly for volumes and prices that are contractually fixed or for fixed prices and variable volumes (69% and 25% of contracts, respectively, per slide 5 of Kinder Morgan May 2022 Investor Presentation). 

Overall, this is why I believe KMI will generate low-single-digit annual distributable cash flow growth going forward. This will comfortably cover the stock's market-crushing 5.9% dividend yield (as of May 14, 2022).

And at a forward price to DCF ratio of 9 ($42.5 billion market cap from Google Finance divided by $4.7 billion 2022 DCF forecast from slide 8 of Kinder Morgan May 2022 Investor Presentation), KMI looks like a solid buy at $19 a share (as of May 14, 2022) - - even with the 15% year-to-date rally in its share price.

Dividend Stock #2: Medical Properties Trust (MPW)

With a $22 billion-plus real estate portfolio, Medical Properties Trust (MPW) is one of the biggest owners of hospitals in the world. The reasons that initially drew me to purchase MPW are just as strong now as they were in January and February of this year. Interested readers can get a more detailed explanation of why I like MPW in a Motley Fool article published a few months ago.

But at its core, the factors are that MPW is a steadily growing REIT with tons of room for future growth and a well-covered dividend (a whopping 6.4% yield as well at the current $18 share price) at a modest valuation.

Dividend Stock #3: GlaxoSmithKline (GSK)

GlaxoSmithKline is one of the largest pharmaceutical companies in the world. Unsurprisingly, the company has plenty of blockbusters like respiratory drugs Trelegy and Nucala, as well as HIV drugs Tivicay and Triumeq (page 47 of GlaxoSmithKline Q4 2021 earnings press release). 

And with dozens of other projects in clinical development in its pipeline, analysts are forecasting 8.2% annual earnings growth over the next five years. The stock also offers investors a market-trouncing 4.6% dividend yield. And the cherry on top is that GSK's forward P/E ratio of 13.4 at the current $43 share price doesn't appear to be too steep for its quality.

Concluding Thoughts:

Since my master list of stocks that I don't yet own and want to own is now down to barely a dozen, I will mostly be adding to existing positions going forward. Unless the valuations for KMI, MPW, and GSK drastically change, I will likely be adding to my positions in those stocks next month, as well as a few others.

Discussion:

Are any of KMI, MPW, or GSK on your watch list for June 2022?

If not, what stocks are you thinking about buying next month?

Thanks for your readership and feel free to leave a comment below!

Tuesday, May 10, 2022

April 2022 Dividend Stock Purchases

As I'm writing this blog post, it's currently 55 degrees Fahrenheit here in Central Wisconsin. Next week is going to reach highs in the low-80s Fahrenheit, so summer is unofficially just days away and we barely had a spring!

With that aside, I'll turn to the dividend stock purchases (and the one non-dividend stock purchase) that I made in April 2022.



I started April by purchasing five shares of Innovative Industrial Properties (IIPR) at an average cost of $166.59 a share. My reasoning for purchasing the stock was that its AFFO per share is growing like a weed (pun intended), the stock is cheap for its growth prospects, and the starting dividend yield is market-crushing. Given the $35.00 in net annual forward dividends that I added from this purchase, my weighted average net yield fittingly was 4.20% on 4/20.

I followed up my purchase of IIPR by adding a share to my position in Home Depot (HD) at a cost of $316.01. For those interested in my buying rationale, I recently wrote a Motley Fool article on the stock. Since the stock boosted my net annual forward dividends by $7.60, my net dividend yield was 2.40%.

My first non-dividend paying stock purchase was the online retail, cloud computing, streaming, and advertising giant Amazon (AMZN). Where do I start with the beaten-down tech stock? AMZN is the undisputed leader in online retail and cloud computing. 

With global e-commerce sales set to surge from $4.9 trillion in 2021 to $7.4 trillion by 2025, Amazon is best positioned to cash in on this fast-growing market. Not to mention that the global cloud computing market is forecasted to compound at a 17.9% annual rate from $250 billion in 2021 to $791.5 billion in 2028. 

This is why analysts anticipate that AMZN will deliver 40% annual earnings growth over the next five years, despite its massive size. And at my average cost basis of $2,891.05 for my 0.21 shares of AMZN, I paid a 2025 P/E ratio of 20.9. This is a reasonably attractive valuation to pay for a stock that still has plenty of growth left in its tank, even with the recent challenges when it reported first-quarter earnings recently.

That's also why I plan on investing $50 to $100 into AMZN each month going forward. But make no mistake, 95%-plus of my capital will still be dedicated to dividend-paying stocks over growth stocks. And as AMZN's growth decelerates, I believe it will begin paying a dividend to shareholders near the end of this decade.

My next dividend stock purchase was 17 shares of Comcast (CMCSA) at an average cost of $42.06 a share. Readers that are interested in my reasons for buying the stock can visit my April 2022 Dividend Stock Watch List post that's linked above where I discuss IIPR. The $18.36 in net annual forward dividends that I added due to this purchase works out to a 2.57% weighted average net yield.

I also added 12 shares of A.O. Smith (AOS) to my portfolio at an average cost of $60.28 a share. Readers again can get my reasons for this purchase by checking out my April 2022 Dividend Stock Watch List post. Since my dividend stock purchase added $13.44 in net annual forward dividends, my net dividend yield was 1.86%.

My position in Williams-Sonoma (WSM) was increased by one share at a cost of $137.44. My reasons are outlined in a recent Motley Fool article on the stock. This added $3.12 in net annual forward dividends to the portfolio, which is equivalent to a 2.27% weighted average net yield. 

I also added two shares of NextEra Energy (NEE) at an average cost of $73.65 a share. My net annual forward dividends increased by $3.40 due to my purchase, which works out to a 2.31% net dividend yield.

The next dividend stock purchase that I made was when I increased my Starbucks (SBUX) position by two shares at an average cost of $76.78 a share. Interested readers can read my recent Motley Fool article for my buying rationale. The $3.92 in net annual forward dividends that were added to my portfolio from this transaction equate to a 2.55% weighted average net yield. 

I also added one share to my position in BlackRock (BLK) at a cost of $652.26. For my reasoning, check out my recent Motley Fool article on the stock. Given the $19.52 in net annual forward dividends that this purchase added, this works out to a 2.99% net dividend yield.

My last purchase of the month came when I added two more units to my position in Energy Transfer (ET) at an average cost of $11.39 a unit. This boosted my net annual forward distributions by $1.60, which is equivalent to a 7.02% weighted average net yield.

My one stock sale during the month was when I closed my five share position in Warner Bros. Discovery (WBD) that I received when AT&T (T) spun its media assets off. I received $91.86 in capital proceeds.

Concluding Thoughts:

Factoring out the capital proceeds from my sale of WBD, I deployed $4,215.99 in capital for April 2022. The purchases made with this capital added $105.96 to my net annual forward dividend income, which is a 2.51% weighted average net yield.

And I also received $10.49 in dividend increases from my dividend stocks during the month. This helped to propel my net annual forward dividends from just less than $2,580 at the start of the month to over $2,690 heading into May.

Discussion:

How was your April 2022 for capital deployment and dividend stock purchases?

Did you open any new positions like I did with AMZN, AOS, CMCSA, and IIPR during the month?

Thank you for reading. Please feel free to comment below!

Tuesday, May 3, 2022

April 2022 Dividend Income

As I'm writing this blog post, it's early-May. It's expected to be cloudy and highs will only reach into the low-50 degrees Fahrenheit range over the next couple of days here in Central Wisconsin. The good news is that high temperatures will reach into the low-70 degrees Fahrenheit in the days that follow. 

With April officially in the books, I'll be looking back at the dividend income that my portfolio generated for me during the month.




Analysis:

I collected $139.19 in net dividends during April 2022. This works out to an 8.1% quarterly growth rate over the $128.80 in net dividends that my portfolio produced in January 2022.

What's more, my net dividends surged 56.3% higher year-over-year compared to the $89.03 in net dividends that I collected from my portfolio in April 2021.

Digging in deeper, I received $128.55 in net dividends from 23 stocks within my Robinhood account. I also collected $10.48 in net dividends from five stocks in my Webull portfolio. Finally, I received $0.16 in net dividends from six stocks within my M1 Finance account.

My net dividend income increased by $10.39 from January 2022 to April 2022, which was the result of the following activity in my portfolio:

I collected an extra $0.03 in net dividends from American Tower (AMT) within my Robinhood account. This was due to the 0.7% increase in the stock's quarterly dividend that was declared in March. 

My net dividends received from Cisco System (CSCO) were $0.11 higher in my Robinhood portfolio. This is because the stock raised its payout to shareholders by 2.7% in February.

I collected an additional $0.01 in net dividends from Realty Income (O) within my Robinhood account. This was due to the 0.2% increase in the stock's monthly dividend that was declared in March.

My net dividends received from Leggett & Platt (LEG) were boosted by $1.68 in my Robinhood portfolio, which was the result of my decision to purchase four more shares of the stock last December.

I collected first-time net dividends of $5.98 from U.S. Bancorp (USB) within my Robinhood account. This was because I bought 13 shares of the stock back in March. 

My net dividends received from STORE Capital (STOR) were $1.15 higher in my Robinhood and Webull portfolio, which was due to my purchase of three additional shares of the stock in February.

I collected an extra $0.01 in net dividends from W.P. Carey (WPC) within my Robinhood account, which was because of the stock's 0.2% increase in its quarterly dividend in March.

My net dividends received from Medical Properties Trust (MPW) in my Robinhood portfolio were $7.25 higher. This was due to my purchase of 25 shares of the stock in January and February.

I collected an additional $0.78 in net dividends from GlaxoSmithKline (GSK) within my Robinhood account, which was because of the stock's varying dividend payment amounts.

My net dividends received from VICI Properties (VICI) were $1.44 higher in my Robinhood portfolio. This was due to my purchase of four extra shares of the stock back in March.

I collected an extra $0.08 in net dividends from Kimberly Clark (KMB) within my Robinhood account, which was because of the stock's 1.8% dividend increase in January.

My net dividends received from Coca-Cola (KO) were $4.40 higher in my Robinhood portfolio. This was due to my decision to purchase 10 shares of the stock in February.

I collected $4.25 in net dividends from Allstate (ALL) within my Robinhood account, which was the result of my purchase of five shares of stock in January and the 4.8% dividend raise in February.

My net dividends received from Genuine Parts Company (GPC) were $0.48 higher in my Robinhood portfolio. This was due to the stock's 9.8% payout hike in February.

I collected an extra $0.03 in net dividends from Albemarle (ALB) within my Robinhood and Webull accounts, which was the result of the stock's 1.3% increase in its quarterly dividend in February.

My net dividends received from Ventas (VTR) were $3.15 less in my Robinhood portfolio. This was due to my decision to sell off my stake in the stock in January. 

I collected $3.32 less in net dividends from PPL Corp (PPL) within my Robinhood account, which also stemmed from my choice to sell off my stake in the stock in January.

My net dividends received from Digital Realty Trust (DLR) were $3.48 less in my Robinhood portfolio. This was due to the timing of the stock's dividend payment.

I collected $3.23 less in net dividends from PepsiCo (PEP) within my Robinhood account, which was the result of PEP's dividend payment timing.

My net dividends received from JPMorgan Chase (JPM) were $4.00 less in my Robinhood portfolio. This was due to the timing of the stock's dividend payment.

I collected $0.11 less in net dividends within my M1 Finance account, which was the result of closing my VTR, PPL, and CAH positions, as well as the timing of PEP and JPM's dividends.

Concluding Thoughts:

My portfolio's net dividends are steadily growing with each passing quarter. And with my consistent capital deployment in the neighborhood of $3,000 each month, this should be my last month below $150 in net dividends.

Discussion:

How was your dividend income in April 2022?

Did you receive any first-time dividends as I did with ALL, KO, MPW, and USB?

As always, I appreciate your readership and look forward to your comments below!

Tuesday, April 26, 2022

Expected Dividend Increases for May 2022

As I'm writing this blog post, the temperature is going to soar from a high of 41 degrees Fahrenheit today to 55 degrees Fahrenheit by Friday. One month after the calendar officially turned to spring, it appears that the weather is finally reflecting the change of seasons here in Central Wisconsin.

With that aside, I'll be turning my attention to the dividend increases that I have received in April and looking ahead to the payout raises that I am expecting in May.

Actual Dividend Increases for April 2022

Dividend Increase #1: Johnson & Johnson (JNJ)

Johnson & Johnson declared a 6.6% increase in its quarterly dividend per share from $1.06 to $1.13. This came in just below my expectation of a 7.5% hike in the quarterly dividend. But it marked the 60th straight year that the stock raised its dividend. JNJ is undoubtedly one of the best businesses in the world and I'm thrilled to be a shareholder.

Across my five shares of JNJ, my net annual forward dividends surged $1.40 higher due to the stock's dividend boost.

Dividend Increase #2: Southern Company (SO)

Southern Company announced a 3% raise in its quarterly dividend per share from $0.66 to $0.68. True to form as a consistent utility, this was in line with my prediction. SO is a quality utility with 21 consecutive years of payout increases under its belt. That's why I'm glad to hold the stock in my portfolio.

My net annual forward dividends edged $0.40 higher across my five shares of SO as a result of the dividend increase.

Dividend Increase #3: Tanger Factory Outlet Centers (SKT)

Tanger Factory Outlet Centers declared a 9.6% increase in its quarterly dividend per share from $0.1825 to $0.20. This is still well below the $0.3575 peak in the early days of the COVID-19 pandemic. But it's nice to see that SKT is working toward restoring its dividend. And its fundamentals have improved to the point where I believe the dividend will be fully restored by the end of 2023. SKT will then emerge a much stronger company with loads of liquidity and a low payout ratio.

Across my 11 shares of SKT, my net annual forward dividends increased by $0.77 due to the payout raise.

Dividend Increase #4: Raytheon Technologies (RTX)

Raytheon Technologies announced a 7.8% raise in its quarterly dividend per share from $0.51 to $0.55. This came in a bit below my prediction of a 9.8% raise in the quarterly dividend per share to $0.56. But a high-single-digit dividend raise is still pretty decent.

My net annual forward dividends advanced higher by $1.12 across my seven shares of RTX as a result of the dividend increase.

Dividend Increase #5: International Business Machines (IBM)

Just as expected, International Business Machines announced a token 0.6% bump in the quarterly dividend per share from $1.64 to $1.65. It looks like Big Blue is starting to turn its business around and I wouldn't be surprised to see a resumption of larger dividend increases in a couple of years.

Across my four shares of IBM, my net annual forward dividends edged $0.16 higher due to the payout increase.

Dividend Increase #6: American Water Works (AWK)

American Water Works declared an 8.7% increase in its quarterly dividend per share from $0.6025 to $0.655. This came in a bit below my expectation of a 10% raise to $0.6625. But I'll gladly take that inflation-beating raise from AWK.

My net annual forward dividends were boosted by $0.84 across my four shares of AWK as a result of the dividend hike.

Dividend Increase #7: Energy Transfer (ET)

Energy Transfer announced a massive 14.3% hike in its quarterly distribution per unit from $0.175 to $0.20. ET has recently hinted at its ambition to restore its quarterly distribution to the previous $0.305 amount in the quarters ahead. And since ET has significantly reduced its leverage and has a very high distribution coverage ratio, the company can certainly afford to make good on this promise.

Across my 58 units of ET, my net annual forward distributions soared $5.80 higher due to the distribution raise.

Dividend Freeze: Exxon Mobil (XOM)

Exxon Mobil declared a quarterly dividend per share of $0.88, which was in line with its previous dividend. With WTI crude so high and XOM pumping out huge profits, I was surprised that they didn't increase the dividend in April. That's because they had consistently done so until the COVID-19 pandemic had them announce a dividend increase last October to keep their Dividend Aristocrat status alive.

Perhaps October will be the new April for dividend increases for XOM.

Expected Dividend Increases for May 2022

Expected Dividend Increase #1: American Tower (AMT)

The first dividend increase that I'm anticipating in May will come from American Tower. My prediction is that AMT will announce a 2.9% increase in its quarterly dividend per share from $1.40 to $1.44. What makes AMT an especially great REIT is that it raises its dividend four times a year. Low-to-mid single-digit dividend increases every quarter really add up.

Across my three shares of AMT, my net annual forward dividends would inch $0.48 higher, if my estimate is proven correct.

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

The next dividend increase that I expect next month is from Lowe's. LOW boasts a low (pun intended) dividend payout ratio and analysts are expecting adjusted diluted EPS to rise 11.6% to $13.44 in 2022. This is why I believe LOW will declare a 13.8% increase in its quarterly dividend per share from $0.80 to $0.91.

If my forecast is correct, my net annual forward dividends would soar $2.20 higher across my five shares of LOW.

Expected Dividend Increase #3: Leggett & Platt (LEG)

The third dividend increase that I foresee for May will come from Leggett & Platt. With 50 straight years of dividend increases under its belt, LEG is an unofficial Dividend King. And I believe the stock will extend its dividend growth streak with a 4.8% raise in the quarterly dividend per share from $0.42 to $0.44.

Across my 12 shares of LEG, my net annual forward dividends would increase by $0.96, if my prediction pans out.

Expected Dividend Increase #4: Clorox (CLX)

The next dividend increase that I'm expecting for next month is from Clorox. Since the business is currently experiencing some challenges, I'm expecting a token dividend increase to keep its decades-long dividend growth streak alive. This is why I believe CLX will announce a 0.9% increase in its quarterly dividend per share from $1.16 to $1.17. 

My net annual forward dividends would edge $0.08 higher across my two shares of CLX, if my estimate is right.

Expected Dividend Increase #5: Medtronic (MDT)

The fifth payout raise that I'm anticipating in May will come from Medtronic. I believe that MDT will declare a 7.9% increase in its quarterly dividend per share from $0.63 to $0.68.

Across my five shares of MDT, my net annual forward dividends would increase by $1.00, if my forecast is proven correct.

Expected Wild Card Dividend Increase: Omnicom (OMC)

The final dividend increase that I'm expecting next month is from Omnicom. Since OMC kept its dividend the same in February, I believe the stock will have a 7.1% raise in store for shareholders in May. This would bring the quarterly dividend per share up to $0.75 from the current amount of $0.70.

My net annual forward dividends would surge $1.40 higher across my seven shares of OMC, if my prediction pans out.

Concluding Thoughts:

The seven raises that I received in April led my net annual forward dividends higher by $10.49. This is equivalent to investing $299.71 in capital at a 3.5% weighted average dividend yield.

Looking ahead to next month, my net annual forward dividends would increase by $6.12 if all of my estimates come to fruition. This would have the same effect as investing $174.86 at a weighted average yield of 3.5%.

Discussion:

How was your April 2022 in terms of payout increases?

Are you expecting any first-time dividend increases in May 2022 like I am with CLX and MDT?

Thanks for your readership. Feel free to leave a comment below!

Tuesday, April 19, 2022

May 2022 Dividend Stock Watch List

As I'm writing this blog post, it's mid-April. My 25th birthday was also just a few days ago, so I'm now closer to 30 than I am to 20. Every year seems to be flying by faster than the previous!

With that aside, it will be May before we know it. This is why I will be sharing three dividend stocks at the top of my watch list for May 2022.


Image Source: Pexels

Dividend Stock #1: FedEx (FDX)

The first stock that I am considering adding to my portfolio in May is FedEx (FDX). The transportation company is among the largest in the world alongside its peer United Parcel Service (UPS), which is currently in my portfolio.

FDX looks like a fundamentally strong stock. This is because FDX's long-term growth prospects are closely linked to e-commerce.

With global e-commerce sales expected to grow from $4.9 trillion in 2021 to $7.4 trillion by 2025, there will undoubtedly be many more packages for FDX to ship. This should translate into growing revenue and earnings. And it explains why analysts expect the stock's earnings to grow at 19% annually through the next five years.

FDX also offers investors a market-beating 1.5% dividend yield. Assuming $21 in midpoint adjusted diluted EPS for the current fiscal year and a dividend per share obligation of $3, FDX's adjusted diluted EPS payout ratio will be just 14.3%.

And at the current price of $204 a share (as of April 18, 2022) the stock is criminally undervalued with a trailing-twelve-month (TTM) P/E ratio of just 10.7. For context, this is approximately half of its 10-year median of 20.8.

Dividend Stock #2: Cummins (CMI)

The next stock that I'm considering adding to my position in next month is Cummins (CMI). 

The U.S. economy runs on trucks and that's no overstatement. Trucks are responsible for moving 72% of all goods consumed in the U.S. And CMI is the company behind the engines and other components that make those trucks reliably operate to keep the economy flowing. 

An investment in CMI is a bet that the company will be able to pivot from diesel-operated engines and components to alternative energy engines and components like electric. Like myself, analysts appear to be confident that the company will do so. That's because it's anticipated that CMI's diluted EPS will compound at an 11% annual rate over the next five years.

With a diluted EPS payout ratio of 38.3% in 2021 ($5.60 in dividends per share paid divided by $14.61 in diluted EPS), CMI's dividend has the flexibility to continue growing. And better yet, the stock offers a market-topping 2.9% dividend yield.

Best of all, CMI can be purchased at a TTM P/E ratio of 13.5. This is slightly lower than the 10-year median of 15.4, which makes the stock a solid value.

Dividend Stock #3: Leggett & Platt (LEG)

The third stock that I'm thinking about adding to in May is Leggett & Platt (LEG). In a nutshell, my reasons for wanting more LEG in my portfolio are its record revenue and earnings in 2021, the well-covered and market-crushing yield, and deep undervaluation.

For a detailed and recent analysis on why I'm bullish toward LEG, I'd refer interested readers to my Motley Fool article published on the stock earlier this month.

Concluding Thoughts:

Looking ahead to May, I expect to have nearly $3,000 of capital available for investment. Unless more of the remaining stocks on my master list that I don't already own become attractive, I will be primarily building up my existing positions rather than starting new ones.

Discussion:

Are any of FDX, CMI, or LEG on your watch list for May 2022?

If not, what stocks are you considering for the month?

Thanks for reading. I look forward to your comments below!

Tuesday, April 12, 2022

March 2022 Dividend Income

As I'm writing this blog post, the calendar recently flipped over into April. And true to form, April showers have appeared. This will eventually give way to May flowers as the saying goes. Temperatures have warmed up and are expected to reach into the low-50 degrees Fahrenheit here in Central Wisconsin. 

Now that the month of March 2022 is in the books, it's time to take a look at what the dividend income portfolio produced during the month. 








During the month of March 2022, I received $302.53 in net dividends. Against the $353.38 in net dividends that I collected in December 2021, this is a 14.4% quarterly decline. But factoring out the $106.49 in special dividends that I received from my Capital Income Builder (CAIBX) mutual fund within my retirement account, my net dividends surged 22.5% higher from $246.89.

On a year-over-year basis, my net dividends collected in March 2022 soared 82.9% over March 2021's $165.45 in net dividends.

Digging deeper, I received $213.12 in net dividends from 44 stocks in my Robinhood portfolio. I also collected $74.95 in net dividends from my CAIBX mutual fund within my retirement account. Next, I received $13.95 in net dividends from six stocks in my Webull portfolio. Lastly, I collected $0.51 from 24 stocks within my M1 Finance account.

The $50.85 quarterly decrease in my net dividend income received from December 2021 to March 2022 can be explained by the following activity in my portfolio:

My net dividends collected from Digital Realty Trust (DLR) were lifted by $3.66 within my Robinhood account, which was the result of the recent dividend increase and the timing of the dividend payment

I also received a first-time dividend from Union Pacific (UNP) of $3.54 in my Robinhood portfolio, which was due to my decision to open a whole share position in the stock back in January.

As a result of the timing of PepsiCo's (PEP) dividend payment, I collected an extra $3.23 in net dividends within my Robinhood account.

Thanks to T. Rowe Price's (TROW) recent dividend hike and my decision to purchase two more shares of the stock in February, my net dividends received were boosted by $2.88 in my Robinhood portfolio.

Main Street Capital's (MAIN) slight decrease in its special dividend was only partially offset by an increase in its regular monthly dividend. This explains the $0.40 drop in my net dividends collected from the stock within my Robinhood account.

My net dividends received from L3Harris Technologies (LHX) increased by $0.40 in my Robinhood portfolio, which was due to the dividend increase in February.

I also collected an extra $0.50 in net dividends from Home Depot (HD) within my Robinhood account, which was the result of the recent payout hike.

My net dividends received from BlackRock (BLK) surged $0.75 higher in my Robinhood portfolio, which was due to the stock's boost to its dividend in January.

I also collected an additional $0.23 in net dividends from Dominion Energy (D) within my Robinhood account, which was the result of the dividend increase declared last December.

My net dividends received from Viatris (VTRS) jumped $0.97 higher in my Robinhood portfolio, which was due to my purchase of another five shares in January and the dividend hike announced in January as well.

I also collected an extra $4.93 in net dividends from Duke Energy (DUK) within my Robinhood account, which was the result of my decision to open a whole share position in the stock in February.

My net diviends received from Hershey (HSY) were boosted by $2.70 in my Robinhood portfolio, which was due to my choice to start a whole share position in the stock last December.

I also collected an additional $5.96 in net dividends from 3M (MMM) within my Robinhood account, which was the result of my decision to purchase four shares of MMM in January.

My net dividends received from Prudential Financial (PRU) increased by $0.50 between my Robinhood and Webull portfolios, which was due to the stock's recent dividend increase.

I also benefited from a $3.52 boost in my net dividends collected from United Parcel Service (UPS) in my Robinhood account, which was the result of my decision to add another share of UPS in February and the recent massive dividend hike.

My net dividends received from Amgen (AMGN) increased by $0.72 within my Robinhood portfolio, which was due to the dividend increase announced last December.

I collected an extra $0.17 in net dividends from Pfizer (PFE) in my Robinhood account, which was the result of the payout raise declared last December.

My net dividends received from Cummins (CMI) within my Robinhood portfolio were $1.45 higher, which was due to my purchase of an additional share of the stock last November.

I collected an additional $0.77 in net dividends from Aflac (AFL) in my Robinhood account, which was the result of the dividend hike announced last November.

My net dividends received from WEC Energy Group (WEC) surged by $1.75 within my Robinhood portfolio, which was due to share purchases last November and December.

I collected an extra $2.41 in net dividends from American Water Works (AWK) in my Robinhood account, which was the result of my decision to open a position in the stock in January.

My net dividends received from Wells Fargo (WFC) between my Robinhood and Webull portfolios edged $0.40 higher, which was due to the recent dividend increase.

I collected an extra $0.06 in net dividends within my M1 Finance account. This was the result of an additional $0.01 from UPS, the timing of PEP's $0.02 dividend payment, and the timing of Fastenal's (FAST) $0.03 dividend payment.

Finally, my net dividends received from CAIBX were $91.95 less than in December 2021 (including the $10 annual fee deducted from my account in December). That's because the 5% increase in the regularly quarterly dividend was more than offset by the absence of the special dividend that is only paid each December.

Concluding Thoughts:

Excluding the special dividends paid from my CAIBX mutual fund that skewed my December 2021 results much higher, my March 2022 net dividend income was solid. I believe that next March I'll come close to the $500 mark in net dividend income, so I'm excited to continue investing as much as possible to keep my dividend income marching higher.

Discussion:

How was your March 2022 for your capital allocation?

Did you have any new whole share dividend payers like I did with AWK, DUK, MMM, and UNP?

Thanks for your readership. I look forward to your comments below!

Tuesday, April 5, 2022

March 2022 Dividend Stock Purchases

Here in Central Wisconsin, the temperatures will reach into the upper-40 degrees Fahrenheit over the next few days. This is slightly above the average temperature for late-March.

Given that March 2022 is just days away from ending, I will be shifting my attention to the dividend growth stock purchases that I executed during the month.




Beginning with my retirement account, the $74.95 in net dividends that I collected from my Capital Income Builder (CAIBX) were reinvested. As I noted in my December 2021 Dividend Stock Purchases post, the only growth in my employer-sponsored retirement account going forward will come from dividends since I left my previous job last July.

My CAIBX share balance grew by 1.142 shares from 178.459 shares heading into March to 179.601 shares exiting the month. Assuming $2.13 in net annual forward dividends per share, my net annual forward dividends increased by $2.43. This works out to a 3.24% net dividend yield.

Moving to my taxable account, I started the month by purchasing four shares of VICI Properties (VICI) at an average cost of $27.68 a share. My reasoning for this purchase was outlined in a recent Motley Fool article for interested readers. The $5.76 in net annual forward dividends from this purchase equates to a weighted average net yield of 5.20%.

The next dividend stock that I opened a whole share position in was Starbucks. I bought eight shares of Starbucks (SBUX) at an average cost of $88.38 a share. I purchased SBUX because it's a classic dividend growth stock that has plunged 25% year-to-date. This was partially due to the correction of Nasdaq Composite stocks during that time, as well as concerns over employee unionization efforts at SBUX. Regardless, I believe that the investment thesis remains intact. Given the $15.68 in net annual forward dividends that I added from these purchases, this is equivalent to a 2.22% net dividend yield. 

Another dividend stock purchase that I executed during the month was three shares of Air Products & Chemicals (APD) at an average cost of $227.69 a share. As I explained in a recent Motley Fool article, APD is one of the largest industrial gases stocks in the world. This is an industry that is set to experience meaningful growth in the years ahead, which should support growing dividends for decades to come. My purchase boosted my net annual forward dividends by $19.44, which works out to a weighted average net yield of 2.85%.

I also opened a whole share position in NextEra Energy (NEE), which like SBUX, I only owned fractional shares of within my M1 Finance account before this purchase. I purchased seven shares of NEE at an average cost of $80.93 a share. For those interested in my reasoning, I also discussed NEE in the article that I linked to in my paragraph above regarding APD. My transactions added $11.90 in net annual forward dividends to my portfolio, which equates to a 2.10% net dividend yield.

Another dividend growth stock that I opened a position in during March was U.S. Bancorp (USB). I purchased 13 shares of USB at an average cost of $55.43 a share. Readers that want to know more about my buying rationale for USB can check out my March 2022 Dividend Stock Watch List post, which is where I highlighted the stock. My purchases boosted my net annual forward dividends by $23.92, which is equivalent to a weighted average net yield of 3.32%.

Finally, I added a share of Kinder Morgan (KMI) at a cost of $17.45. This purchase added $1.11 to my net annual forward dividends, which works out to a 6.36% net dividend yield.

Concluding Thoughts:

I deployed $2,880.33 in capital during March 2022 (including the net dividends that I received), which led to my portfolio adding $80.24 in net annual forward dividends during the month. This equates to a 2.79% weighted average net yield.  

My net annual forward dividends surged $8.134 higher due to dividend announcements during the month as well. Along with my dividend stock purchases, this propelled my net annual forward dividends from just less than $2,490 heading into March to a bit less than $2,580 at the end of the month.

Discussion:

How was your March 2022 for capital allocation and dividend stock buys?

Did you open any new whole share positions like I did with SBUX, APD, NEE, and USB?

Thanks for your readership. I look forward to your comments in the section below!

Tuesday, March 29, 2022

April 2022 Dividend Stock Watch List

As I'm writing this blog post, it's the second day of spring. While temperatures have cooled off a bit over the last few days here in Central Wisconsin, they are still pleasant with highs reaching into the low-40 degrees Fahrenheit.

With most of March 2022 in the books, now would be a good time to look ahead to next month at three compelling stocks that I'm considering adding to my dividend growth stock portfolio.


Image Source: Pexels

Dividend Stock #1: Innovative Industrial Properties (IIPR)

The first stock that I'm thinking about adding to my portfolio in April is the U.S. cannabis real estate investment trust known as Innovative Industrial Properties. Since marijuana is still illegal at the federal level in the U.S., companies aren't able to receive financing from financial institutions. But IIPR purchases properties from marijuana companies and leases them back. This gives the latter funds to focus on growing operations. 

This clever business model has allowed the stock to grow to 105 properties in 19 U.S. states. It led IIPR's adjusted funds from operations (AFFO) per share to surge 32.9% higher year-over-year to $6.66 in 2021.

As a result, it should come as no surprise that IIPR's dividends per share paid jumped 29.1% year-over-year to $5.46 in 2021. This represents a manageable AFFO payout ratio of 82%. President and CEO Paul Smithers pointed out in IIPR's recent earnings call that legal annual global cannais spending of $25 billion in 2021 was a fraction of the more than $400 billion market including illegal cannabis. As more markets legalize cannabis, this provides IIPR with a lengthy growth runway. 

Despite its incredible growth prospects, IIPR is trading at a 2021 price to AFFO per share ratio of 29.7 at the current $198 share price (as of March 21, 2022). Throw in the stock's market-crushing 3.5% dividend yield and this makes IIPR an interesting dividend growth stock.

Dividend Stock #2: Comcast (CMCSA)

The second stock that I'd like to buy next month is the internet/cable provider and media conglomerate Comcast. 

Comcast is a well-diversified business with growth catalysts like its broadband internet business. The broadband internet business was the driving force behind Comcast's 3.3% year-over-year increase in its overall customer relationships to 34.2 million in 2021

This led Comcast's revenue 12.4% higher year-over-year to $116.4 billion in 2021 while adjusted EPS advanced 23.8% to $3.23 for the year. With an adjusted EPS payout ratio of 30.3% in 2021 ($0.98 in dividends per share paid divided by $3.23 in adjusted EPS), the stock has plenty of room to grow its dividend.

This is especially the case since analysts anticipate that Comcast's adjusted EPS will compound at a blistering 14.3% annual rate over the next five years. At the current $46 share price, the stock trades at a current year P/E ratio of just 13.1. 

Comcast stock could provide a market-beating 2.3% dividend yield with robust earnings growth potential to my portfolio at a dirt-cheap valuation. That's exactly why the stock is firmly on my radar.

Dividend Stock #3: A.O. Smith (AOS)

The third stock that's on my watch list for April is A.O. Smith, which provides water heating and water treatment solutions to customers.

As Jason Fieber of Daily Trade Alert argued in a recent article, water could be the liquid gold of this century in the same way that oil was the liquid gold of the last century. 

The necessity of water and a growing global population almost guarantees that the demand for A.O. Smith's products will only continue to increase. That's exactly why analysts expect that the stock's adjusted EPS will grow at an 8% annual clip over the next five years. Compared to the 15% rate posted in the past five years, that actually seems conservative in my opinion.

Regardless, the stock's growth forecast is definitely healthy. And with an adjusted EPS payout ratio of 35.1% in 2021 ($1.06 in dividends per share paid divided by $3.02 in adjusted EPS), the stock has flexibility to build on its status as a Dividend Aristocrat in the years ahead.

At the current $68 share price, AOS's market-topping 1.6% dividend yield can be purchased at a current year P/E ratio of 19.1. What's not to love about a business model essential to human life that can't be innovated away? Along with the reasonable valuation and solid growth outlook, AOS has caught my attention recently.

Concluding Thoughts:

Because there are five Fridays in April, I estimate that over $3,000 in capital will be available for investment during the month. The weighted average net yield of these three dividend growth stocks is around 2.5%. I'll likely invest around $2,000 between the three of these stocks and the remaining $1,000 will be allocated to relatively safe, higher yielding dividend stocks.

Before even considering the dividend increases that I'm predicting for April, I will add around $90 to my net annual forward dividends during the month from dividend stock purchases.

Discussion:

Are any of IIPR, CMCSA, or AOS on your watch list for next month?

If not, what stocks are you thinking about buying?

As always, I appreciate your readership and welcome your comments below!

Tuesday, March 22, 2022

Expected Dividend Increases for April 2022

As I'm writing this blog post, it's already late-March and the next few days are going to see highs reach into the low-50 degrees Fahrenheit range here in Central Wisconsin. It's so great to have daylight until 7:30 PM and next to no snow cover!

With that aside, I'm going to delve into the dividend announcements that were made in March 2022 and look ahead to the dividend raises that I'm anticipating for next month.

Actual Dividend Increases for March 2022

Dividend Increase #1: Digital Realty Trust (DLR)

The first dividend increase that I received in March was from Digital Realty Trust. DLR announced a 5.2% increase in its quarterly dividend per share from $1.16 to $1.22, which was in line with my expectations from a couple of posts back in this series. I'm very pleased with my position in DLR and am considering adding to it in the near future.

Across my three shares of DLR, my net annual forward dividends edged $0.72 higher due to the payout raise.

Dividend Increase #2: Realty Income (O)

The next dividend increase that I benefited from this month came from Realty Income. O declared a 0.2% raise in its monthly dividend per share from $0.2465 to $0.2470. Like DLR, O's payout increase met my expectations. O has steadily upped the dividend for 27 years straight, which makes it a Dividend Aristocrat. That's precisely why the stock is a core holding within my portfolio.

My net annual forward dividends inched $0.078 higher across my 13 shares thanks to O's dividend increase.

Dividend Increase #3: W.P. Carey (WPC)

The third payout raise that I received in March was from W.P. Carey. WPC announced a 0.2% increase in its quarterly dividend per share from $1.055 to $1.057. Like O, WPC raises its dividend every quarter. WPC's dividend announcement was just below my expectation of a 0.3% raise. But the business is doing well and I expect dividend growth to pick up in the near future.

Across my seven shares of WPC, my net annual forward dividends advanced $0.056 higher as a result of the dividend announcement.

Dividend Increase #4: American Tower (AMT)

The fourth dividend increase that I benefited from this month came from American Tower. AMT declared a 0.7% increase in its quarterly dividend per share from $1.39 to $1.40. This was below my prediction of a 2.9% bump to $1.43. But AMT is another wonderful stock that raises its dividend every quarter.

My net annual forward dividends edged $0.12 higher across my three shares of AMT due to the dividend announcement.

Dividend Increase #5: Williams-Sonoma (WSM)

The next payout hike that I received in March was from Williams-Sonoma. WSM announced a 9.9% increase in its quarterly dividend per share from $0.71 to $0.78. This was right on the money with my estimate. Since my initial investment in the stock four and a half years ago, WSM has nearly quadrupled its stock price and doubled its dividend. If only every investment was this successful!

Across my nine shares of WSM, my net annual forward dividends surged $2.52 higher as a result of the dividend announcement.

Dividend Increase #6: General Dynamics (GD)

The sixth dividend increase that I benefited from this month came from General Dynamics. GD declared a 5.9% raise in its quarterly dividend per share from $1.19 to $1.26. This came in a bit below my forecast of a 7.6% increase in the quarterly dividend to $1.28, but that's still a decent raise. 

My net annual forward dividends were boosted by $1.12 across my four shares of GD due to the dividend announcement.

Dividend Increase #7: Medifast (MED)

The next payout boost that I received in March was from Medifast. MED announced a 15.5% raise in its quarterly dividend per share from $1.42 to $1.64. This came in well above my projection of an 11.3% increase in the dividend to $1.58. MED is a stock I just purchased last December and added to in January, but the stock offers a great blend of yield, growth, and value. I wouldn't mind adding another share to my position around the current $186 share price.

Across my four shares of MED, my net annual forward dividends soared $3.52 as a result of the dividend announcement.

Expected Dividend Increases for April 2022

Expected Dividend Increase #1: Johnson & Johnson (JNJ)

The first dividend raise that I'm expecting to receive next month is from Johnson & Johnson. JNJ is set to extend its dividend growth streak to 60 years straight, which is the longest streak in all of healthcare as I noted in a recent Motley Fool article

Analysts anticipate that JNJ's non-GAAP diluted EPS will grow 7.4% to $10.53 in 2022. I believe this will prompt the stock to announce a 7.5% hike in its quarterly dividend per share from $1.06 to $1.14.

If my guess is proven correct, my net annual forward dividends would surge $1.60 higher across my five shares of JNJ.

Expected Dividend Increase #2: Southern Company (SO)

The next payout increase that I foresee for April will come from Southern Company. As SO works to bring its nuclear facilities Vogtle 3 and 4 online next year, I expect dividend growth will likely accelerate. 

But until then, I believe SO will declare a 3% raise in its quarterly dividend per share from $0.66 to $0.68.

My net annual forward dividends would advance $0.40 higher across my five shares of SO, if my assumption is right.

Expected Dividend Increase #3: International Business Machines (IBM)

The third dividend increase that I should receive next month is from International Business Machines. Since IBM is focused on deleveraging in the aftermath of its Red Hat acquisition and forging a path to revitalizing its growth, I'm not expecting more than a token raise.

That's why I think IBM will announce a 0.6% increase in its quarterly dividend per share from $1.64 to $1.65. 

Across my four shares of IBM, my net annual forward dividends would edge $0.16 higher, if my prediction is accurate.

Expected Dividend Increase #4: Exxon Mobil (XOM)

The next payout raise that I'm expecting for April will come from Exxon Mobil. Since XOM's EPS are expected to skyrocket to $8.05 in 2022 and hold around $7 next year, I think XOM will declare a 6.8% increase in its quarterly dividend per share from $0.88 to $0.94. This should give the company plenty of room to reinvest its profits and pay down debt.

My net annual forward dividends would rocket $2.64 higher across my 11 shares of XOM, if my guess is correct.

Expected Dividend Increase #5: Raytheon Technologies (RTX)

The fifth dividend increase that I should receive next month is from Raytheon Technologies. Analysts are projecting that RTX's EPS will surge 12.2% higher to $4.79 this year. That's why I believe RTX will announce a 9.8% raise in its quarterly dividend per share from $0.51 to $0.56 per share.

Across my seven shares of RTX, my net annual forward dividends would be boosted by $1.40, if my assumption is right.

Expected Dividend Increase #6: American Water Works (AWK)

The sixth dividend increase that I'm expecting for April will come from American Water Works. With analysts forecasting 11.8% growth in AWK's EPS to $4.45 in 2022, I think a 10% raise in the quarterly dividend per share from $0.6025 to $0.6625 is realistic.

My net annual forward dividends would increase by $0.96 across my four shares of AWK, if my prediction is accurate.

Concluding Thoughts:

My net annual forward dividends were positively impacted by $8.134 due to the dividend announcements during the month. At a 3.5% weighted average net dividend yield, it would require $232.40 in capital to match the income created by my portfolio's dividend increases in March 2022.

And if my predictions for April 2022 pan out, my net annual forward dividends will increase $7.16 from dividend announcements. The persistent growth in my net annual forward dividend income only motivates me even more to keep pushing and investing as much as I possibly can.

Discussion:

How was your March 2022 for dividend raises?

Did you receive any first-time dividend increases like I did with MED?

As always, I appreciate your readership and look forward to your comments in the section below!

Tuesday, March 15, 2022

February 2022 Dividend Income

As I'm writing this blog post, the sun already doesn't set until nearly 6 PM here in Central Wisconsin. And with Daylight Savings Time only a week away, it will soon be light out past 7 PM. I'm stoked because that means there will be much more time to stay outdoors to exercise and get fresh air that isn't frigid!

Since the first week of March is basically over now, I'll go over my dividend income for February 2022 and how it compared to November 2021 and February 2021.





During February 2022, I collected $156.30 in net dividends. This is equivalent to an 11.9% quarterly growth rate over the $139.64 in net dividends received in November 2021.

The amount of net dividends that I collected in February 2022 was a striking 58.8% year-over-year increase compared to the $98.44 in net dividends received during February 2021

Digging deeper into my net dividends, I collected $142.19 from 22 companies within my Robinhood portfolio, $13.77 from three companies in my Webull account (factoring in the $0.06 ADR fee), and $0.34 from 14 companies within my M1 Finance portfolio. 

The net dividends that I received from November 2021 to February 2022 increased by $16.66, which was the result of the following activity in my portfolio:

I collected an extra $1.32 in net distributions from Energy Transfer (ET) in my Robinhood and Webull accounts, which was due to the recent 14.8% increase in its quarterly distribution.

My net dividends received from Main Street Capital (MAIN) were $0.94 higher within my Robinhood portfolio. This was the result of the stock's 2.4% increase in the monthly dividend and my purchase of another four shares of the stock during November.

I collected an additional $0.13 in dividends from Realty Income (O) in my Robinhood account, which was due to the 4.2% raise in the monthly dividend declared last November.

My net dividends received from Alliant Energy (LNT) were boosted by $5.56 within my Robinhood portfolio, which was the result of my decision to open a 13 share position in December 2021.

I collected an extra $0.77 in net dividends from AbbVie (ABBV) in my Robinhood account, which was due to the 8.5% lift in the quarterly dividend announced last November.

My net dividends received from Abbott Laboratories (ABT) were boosted by $0.12 within my Robinhood portfolio as a result of the 4.4% payout increase declared last December.

I collected an extra $1.60 in net dividends from British American Tobacco (BTI) in my Robinhood and Webull accounts. This was due to my purchase of two additional shares in November and the dividend increase.

My net distributions received from Enterprise Products Partners (EPD) increased by $1.00 within my Robinhood and Webull portfolios. This was the result of my purchase of an additional unit that I picked up last December and the 3.3% distribution increase declared in January.

I collected $4.60 in first-time dividends from Texas Instruments (TXN) in my Robinhood account, which was due to my decision to start and add to a position in TXN.

My net dividends received from Verizon (VZ) were $1.28 higher within my Robinhood portfolio. This was the result of an additional two shares that I added in October after the ex-dividend date.

I collected an extra $0.35 in net dividends from CVS Health (CVS) in my Robinhood account, which was due to the 10% dividend increase announced last December.

My net dividends received from Bristol Myers Squibb were $0.50 higher within my Robinhood portfolio, which was the result of the 10.2% payout hike declared last December.

I collected $1.50 less in net dividends from Equitrans Midstream Partners (ETRN), which I closed my position in during January.

My net dividends received in my M1 Finance account declined by $0.01. An additional $0.01 in net dividends received from ABBV was more than offset by a $0.02 reduction in net dividends from Fastenal (FAST) due to the timing of its dividend payment (it was paid in March).

Concluding Thoughts:

February 2022 was the first middle month of the quarter in which I surpassed $150 in net dividend income. And based on the $2,500 to $3,000 in capital that I'm consistently deploying each month, I anticipate that my net dividends will exceed $200 this August. Depending on my stock purchases in the coming weeks, I may even come close to that mark in May.

I'll definitely be aiming to collect at least $250 in net dividends next February.

Discussion:

How was your dividend income in February 2022?

Did you collect any dividends for the first time like I did with LNT and TXN?

I appreciate your readership and encourage your comments below!

Tuesday, March 8, 2022

February 2022 Dividend Stock Purchases

As I'm writing this blog post, it's already March. Over the next few days, temperatures are going to be topping out in the low-30 degrees Fahrenheit here in Central Wisconsin. It won't be long and the snow will finally be melted!

With February nearly a week behind us at this point, I will go over my dividend stock purchases for February 2022.




While I own a fractional share of Duke Energy (DUK) in my M1 Finance portfolio, DUK was the first stock that I purchased whole shares in to start February. 

All together, I acquired six shares of the stock at an average cost of $103.00 per share within my Robinhood account. As I explained in my February 2022 Dividend Stock Watch List, I liked DUK for its high dividend yield, reasonable value, and decent financial condition.

My net annual forward dividends were boosted by $23.64 due to my purchase activity, which works out to a weighted average net dividend yield of 3.83%.

I also opened a 10 share stake in Coca-Cola (KO) at an average cost of $61.08 per share in my Robinhood portfolio. As I discussed in the post that I linked to above, KO is a rationally valued Dividend King with solid earnings growth potential. 

My net annual forward dividends increased by $16.80 as a result of my purchases within my Robinhood account (prior to the dividend increase announced on the same day I purchased the stock), which equates to a 2.79% weighted average net dividend yield.

The third stock that I started a two share position in was Mastercard (MA) at an average cost of $375.22 a share within my Robinhood account. As I alluded to in the post above, I am bullish toward MA because of its tremendous growth prospects and sensible valuation.

My net annual forward dividends edged $3.92 higher due to my purchase activity, which is equivalent to a weighted average net dividend yield of 0.52%.

I added three shares to my stake in STORE Capital (STOR) at an average cost of $30.62 a share in my Robinhood and Webull portfolios. My net annual forward dividends increased by $4.62 as a result of my purchases, which works out to a 5.03% weighted average net dividend yield.

I also upped my position in T. Rowe Price Group (TROW) by two shares at an average cost of $149.08 a share within my Robinhood account. For those interested in my buying rationale, my recent Motley Fool article sums it up pretty well.

My net annual forward dividends were boosted by $9.12 due to my purchase activity (because I purchased one share before the dividend increase and one share after the dividend increase; and I account for the share purchased before the dividend increase in my expected dividend increases post linked above), which equates to a 3.06% weighted average net dividend yield.

I also added 13 shares of Kinder Morgan (KMI) to my portfolio at an average cost of $17.52 a share in my Robinhood portfolio. My net annual forward dividends were boosted by $14.43, which is equivalent to a weighted average net yield of 6.34%.

I increased my position in Medical Properties Trust (MPW) by nine shares at an average cost of $21.79 a share within my Robinhood account. My net annual forward dividends surged $10.08 higher, which works out to a 5.14% weighted average net dividend yield.

Finally, I added one share of United Parcel Service (UPS) to my Robinhood portfolio. Since this purchase was after UPS's dividend increase, my net annual forward dividends edged $6.08 higher. This equates to a weighted average net yield of 2.69%.

Concluding Thoughts:

I deployed $3,018.73 in capital during February 2022, which helped my portfolio to add $88.69 in net annual forward dividends. This is equivalent to a 2.94% weighted average net dividend yield.

My net annual forward dividends also increased by $2.47 due to dividend increases announced in February 2022. Combining my capital deployment and dividend announcements during the month, my net annual forward dividends were just under $2,490 heading into March 2022.

Discussion:

How was your February 2022 for dividend stock purchases and capital deployment?

Did you start any new whole share positions during the month like I did with DUK, MA, and KO?

As usual, I thank you for your readership and welcome your comments in the comment section below!