Tuesday, February 28, 2023
Tuesday, February 21, 2023
Tuesday, February 14, 2023
As I'm writing this blog post on Saturday, February 11, the temperature is expected to reach a high of 43 degrees Fahrenheit here in Central Wisconsin. Since it is uncharacteristically warm for this time of the year, I certainly plan on getting outside later today.
With that aside, the time of the month means that last month is well behind us at this point. That's why I will be discussing my dividend stock purchases for January 2023. Let's dig in!
I started off the month by opening a three share position in Dollar General (DG) at an average cost of $233.84 per share. Readers interested in my rationale for doing so can check out a recent Motley Fool article on DG (and TJX Companies). This purchase boosted my net annual forward dividends by $6.60, which equates to a 0.94% net dividend yield.
The next dividend stock purchase that I made during the month was four shares of American Electric Power (AEP) at an average cost per share of $95.16. Readers can take a look at my January 2023 Dividend Stock Watch List blog post for more info on the buy case for AEP. As a result of this transaction, my net annual forward dividends surged $13.28 higher. That is equivalent to a 3.49% average dividend yield.
My first non-dividend stock purchase for the month was a share of Alphabet (GOOGL) at a cost of $90.55. This purchase decision was due to GOOGL's dominance in digital advertising as I explained several months ago.
The other non-dividend stock purchase that I made in January was a share of Amazon (AMZN) at a share price of $98.56. This is because of AMZN's status as a leader of the cloud computing, e-commerce, and digital advertising industries.
My third dividend stock purchase that I completed last month was six shares of Main Street Capital (MAIN) at an average cost of $38.71 per share. Those interested in the investment thesis for MAIN can find out more by reading my recent Motley Fool article on the stock. This dividend stock purchase boosted my net annual forward dividends by $16.20, which works out to a 6.97% net dividend yield.
The next dividend stock that I added to in January was a share of Broadcom (AVGO) at a share price of $594.97. While eight months old, this Motley Fool article on AVGO (and Home Depot) still appropriately sums up my investment thesis for the stock. My net annual forward dividends were lifted $18.40 higher from this purchase, which equates to a 3.09% dividend yield.
My fifth dividend stock purchase for last month was two shares of Amgen (AMGN) at an average cost per share of $254.15. Readers can visit my recent Motley Fool article on AMGN to gain a better understanding of my investment thesis. This transaction propelled my net annual forward dividends higher by $17.04, which is a 3.35% net dividend yield.
The final dividend stock purchase that I made in January was 10 shares of Verizon Communications (VZ) at an average cost of $40.48 per share. Although this Motley Fool article is from five months ago, my investment thesis for VZ (and British American Tobacco and Energy Transfer) remains intact. My net annual forward dividends soared higher by $26.10, which is equivalent to a 6.45% dividend yield.
I started off 2023 with a bang, putting $3,011.55 in capital to work during the month. Given the $97.62 in net annual forward dividends that these purchases added, my weighted-average net dividend yield was 3.24% on purchases made in January 2023.
Coupled with the record $28.35 in dividend increases that I received last month, my net annual forward dividends soared from $3,355 at the start of the month to nearly $3,480 to end the month.
How did you fare on capital deployment in January 2023?
Did you start any new positions as I did with DG?
Thanks for reading and please feel free to comment below!