Tuesday, March 7, 2023

Expected Dividend Increases for March 2023

As I'm writing this blog post, the end of February is already just four days away. The weather still seems to be reflecting this fact with the temperature reaching a high of 22 degrees Fahrenheit here in Central Wisconsin.

With that said, now would be a great time to look at the numerous payout hikes that I received during the month of February. I'll also look ahead to the seven raises that I'm anticipating will be announced in March.

Actual Dividend Increases for February 2023

Dividend Increase #1: Shell (SHEL)

Shell announced a 15% boost in its quarterly dividend per share to $0.575. My net annual forward dividends surged $2.70 higher across my nine shares of SHEL due to this dividend announcement.

Dividend Increase #2: BP plc (BP)

BP plc declared a 10.1% hike in its quarterly dividend per share to $0.3966. Across my 11 shares of BP, my net annual forward dividends increased by $1.58 from this dividend declaration.

Dividend Increase #3: T. Rowe Price Group (TROW)

T. Rowe Price Group announced a 1.7% bump in its quarterly dividend per share to $1.22. This came in just below my expectation of a 2.5% increase to $1.23. My net annual forward dividends edged $0.48 higher across my six shares of TROW due to this dividend announcement.

Dividend Increase #4: Prudential Financial (PRU)

Prudential Financial declared a 4.2% raise in its quarterly dividend per share to $1.25, which was in line with my projection. Across my 10 shares of PRU, my net annual forward dividends surged $2.00 from this dividend declaration.

Dividend Increase #5: Tractor Supply (TSCO)

Tractor Supply announced a 12% hike in its quarterly dividend per share to $1.03. My net annual forward dividends were boosted by $1.32 across my three shares of TSCO due to this dividend announcement.

Dividend Increase #6: PepsiCo (PEP)

PepsiCo declared a 10% raise in its quarterly dividend per share to $1.265. This was better than my prediction of a 7.8% increase in the quarterly dividend per share. Across my four shares of PEP, my net annual forward dividends were lifted by $1.84 from this dividend declaration.

Dividend Increase #7: Realty Income (O)

Realty Income announced a 2.4% increase in its monthly dividend per share to $0.2545. This was less than my forecast of a 3.8% raise in the monthly dividend per share. My net annual forward dividends rose by $1.224 across my 17 shares of O due to this dividend announcement.

Dividend Increase #8: Cisco (CSCO)

Cisco declared a 2.6% bump in its quarterly dividend per share to $0.39, which was what I expected. Across my 22 shares of CSCO, my net annual forward dividends increased by $0.88 from this dividend declaration.

Dividend Increase #9: Coca-Cola (KO)

Coca-Cola announced a 4.5% raise in its quarterly dividend per share to $0.46. That was precisely what I was anticipating.  My net annual forward dividends increased by $0.80 across my 10 shares of KO due to this dividend announcement.

Dividend Increase #10: NextEra Energy (NEE)

NextEra Energy declared a 10% hike in its quarterly dividend per share to $0.4675, which was better than the 8.2% raise that I was expecting. Across my nine shares of NEE, my net annual forward dividends were lifted higher by $1.53 from this dividend declaration.

Dividend Increase #11: Allstate (ALL)

Allstate announced a 4.7% increase in its quarterly dividend per share to $0.89. This was just ahead of my prediction of a 3.5% bump. My net annual forward dividends edged $0.80 higher across my five shares of ALL due to this dividend announcement.

Dividend Increase #12: Home Depot (HD)

Home Depot declared a 10% raise in its quarterly dividend per share to $2.13. This was well above my forecast of a 5.3% raise. Across my three shares of HD, my net annual forward dividends rose by $2.28 from this dividend declaration.

Dividend Increase #13: Genuine Parts Company (GPC)

Genuine Parts Company announced a 6.1% raise in its quarterly dividend per share to $0.95. This came in just above my expectation of a 5.6% increase. My net annual forward dividends surged $1.32 across my six shares of GPC due to this dividend announcement.

Dividend Increase #14: Albemarle (ALB)

Albemarle declared a 1.3% increase in its quarterly dividend per share, which was half of the 2.5% raise I was projecting. Across my six shares of ALB, my net annual forward dividends edged higher by $0.12 from this dividend declaration.

Dividend Increase #15: L3Harris Technologies (LHX)

L3Harris Technologies announced a 1.8% bump in its quarterly dividend per share to $1.14. This was less than the 7.1% hike that I was expecting. My net annual forward dividends increased by $0.32 across my four shares of LHX due to this dividend announcement.

Dividend Freeze #1: Medical Properties Trust (MPW)

Medical Properties Trust opted to keep its quarterly dividend per share at $0.29. I was expecting a raise to $0.30.

Dividend Freeze #2: Digital Realty Trust (DLR)

Digital Realty Trust made the decision to maintain its quarterly dividend per share at $1.22. I was expecting a raise to $1.28.

Expected Dividend Increases for March 2023

Expected Dividend Increase #1: Realty Income (O)

The first dividend raise that I'm expecting for next month will be from Realty Income. I believe that O will declare a 0.2% increase in its monthly dividend per share to $0.2550.

Across my 17 shares of O, my net annual forward dividends would edge $0.102 higher from such a dividend increase.

Expected Dividend Increase #2: W.P. Carey (WPC)

The next payout bump that I am forecasting in March is from W.P. Carey. My best guess is that WPC will announce a 0.4% increase in its quarterly dividend per share to $1.069.

My net annual forward dividends would rise by $0.112 across my seven shares of WPC due to such a payout raise.

Expected Dividend Increase #3: American Tower (AMT)

The third dividend increase that I'm expecting for next month will be from American Tower. I believe that AMT will declare a 1.3% bump in its quarterly dividend per share to $1.58.

Across my three shares of AMT, my net annual forward dividends would grow by $0.24 from such a dividend increase.

Expected Dividend Increase #4: Williams-Sonoma (WSM)

The next dividend hike that I am projecting in March is from Williams-Sonoma. My best guess is that WSM will announce a 6.4% increase in its quarterly dividend per share to $0.83.

If this plays out as expected, my net annual forward dividends will rise by $2.00 across my 10 shares of WSM.

Expected Dividend Increase #5: General Dynamics (GD)

The fifth dividend boost that I'm expecting for next month will be from General Dynamics. I believe that GD will declare a 7.1% increase in its quarterly dividend per share to $1.35.

Across my four shares of GD, my net annual forward dividends would grow by $1.44 from such a payout hike.

Expected Dividend Increase #6: Innovative Industrial Properties (IIPR)

The next dividend increase that I am anticipating for March is from Innovative Industrial Properties. My best guess is that IIPR will announce a 1.1% bump in its quarterly dividend per share to $1.82.

My net annual forward dividends would edge $0.24 higher across my six shares of IIPR from such a dividend announcement.

Expected Dividend Increase #7: Dollar General (DG)

The seventh and final dividend boost that I'm predicting for next month will be from Dollar General. I believe that DG will declare a 10.9% hike in its quarterly dividend per share to $0.61.

Across my three shares of DG, my net annual forward dividends would rise by $0.72 from such a declaration.

Concluding Thoughts:

My net annual forward dividends surged $19.194 higher from the 15 raises that I received in February. Invested at a 3.5% dividend yield, this would take $548.40 in fresh capital to replicate.

For the month of March, I am anticipating a $4.854 lift in net annual forward dividends stemming from dividend increases. That is equivalent to investing $138.69 of capital at a 3.5% yield.

Discussion:

How was your month for dividend hikes?

Did you receive any first-time raises as I did with TSCO and NEE?

I appreciate your readership and look forward to your comments below!

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