Expected Dividend Increases for August 2023

As I'm writing this blog post, it is Saturday, July 22. The temperature here in Central Wisconsin is expected to reach a high of 82 degrees Fahrenheit, which is arguably perfect for this time of year.

With just a week remaining in the month of July, now would be a good time to highlight the dividend increases that I have received during the month. We'll also look ahead to the raises that I am expecting for next month. Let's dig in!

Actual Dividend Increases for July 2023

Dividend Increase #1: Enterprise Products Partners (EPD)

Enterprise Products Partners declared a 2% bump in its quarterly distribution per unit to $0.50. Across my 52 units of EPD, this declaration led my net annual forward distributions higher by $2.08.

Dividend Increase #2: Cummins (CMI)

Cummins announced a 7% boost in its quarterly dividend per share to $1.68, which was precisely what I expected as I outlined in the previous blog post of this series.

My net annual forward dividends surged higher by $2.20 across my five shares of CMI due to this dividend announcement.

Dividend Increase #3: Duke Energy (DUK)

Duke Energy declared a 2% increase in its quarterly dividend per share to $1.025. This was in line with my prediction.

Across my six shares of DUK, my net annual forward dividends grew by $0.48 from this dividend declaration.

Dividend Increase #4: J.M. Smucker (SJM)

J.M. Smucker announced a 3.9% raise in its quarterly dividend per share to $1.06, which was below my projection of $1.08.

My net annual forward dividends edged higher by $0.48 across my three shares of SJM due to this dividend announcement.

Dividend Increase #5: NNN REIT (NNN)

NNN REIT declared a 2.7% increase in its quarterly dividend per share to $0.565. This came in just under my estimate of $0.57.

Across my 18 shares of NNN, my net annual forward dividends rose by $1.08 from this dividend declaration.

Dividend Increase #6: Energy Transfer (ET)

Energy Transfer announced a 0.8% increase in its quarterly distribution per unit to $0.31 as I predicted.

My net annual forward distributions rose by $0.86 as a result of this dividend announcement.

Dividend Increase #7: Hershey (HSY)

Hershey has yet to announce a dividend increase this month. But with the company set to report earnings on July 27, that should soon change. I still believe HSY will announce a 10% boost in its quarterly dividend per share to $1.14.

If this raise plays out as expected, my net annual forward dividends would be lifted by $1.248 due to such a dividend announcement.

UPDATE: HSY announced a 15.1% hike in its quarterly dividend per share to $1.192! Across my three shares of HSY, this lifted my net annual forward dividends by $1.872.

Dividend Increase #8: Shell (SHEL)

Shell declared a 15.1% raise in its quarterly dividend per share to $0.662. My net annual forward dividends grew by $3.132 across my nine shares of SHEL.

Dividend Increase #9: Clorox (CLX)

Clorox announced a 1.7% increase in its quarterly dividend per share to $1.20. This came in above my expectation of $1.19. My net annual forward dividends grew by $0.16 across my two shares as a result.

Expected Dividend Increases for August 2023

Expected Dividend Increase #1: Altria Group (MO)

My best guess is that Altria Group will up its quarterly dividend per share by 4.3% to $0.98. Across my 24 shares of MO, my net annual forward dividends would rocket higher by $3.84 from such a dividend declaration.

Expected Dividend Increase #2: Essential Utilities (WTRG)

I believe that Essential Utilities will announce a 7% increase in its quarterly dividend per share to $0.307. My net annual forward dividends would rise by $0.80 across my 10 shares of WTRG due to such an announcement.

Expected Dividend Increase #3: Main Street Capital (MAIN)

My projection is that Main Street Capital will declare a 2.2% raise in its monthly dividend per share to $0.235. Across my 30 shares of MAIN, my net annual forward dividends would grow by $1.80 from such a declaration.

Expected Dividend Increase #4: Simon Property Group (SPG)

My best guess is that Simon Property Group will announce a 2.7% increase in its quarterly dividend per share to $1.90. My net annual forward dividends would surge higher by $1.80 due to such an announcement.

Concluding Thoughts:

My net annual forward dividends grew by $12.344 from the nine payout raises that I received in July. This is equivalent to investing $411.47 at a weighted average dividend yield of 3%.

Focusing on August, my net annual forward dividends could surge higher by $8.24 if my five dividend predictions work out. That would be the same as investing $274.67 at a 3% net dividend yield.

Discussion:

How did your July 2023 fare on the dividend increases front?

Did you receive any first-time payout boosts?

Thanks for reading and please feel free to comment below!

August 2023 Dividend Stock Watch List

As I'm writing this blog post on July 15th, the weather here in Central Wisconsin couldn't be more ideal for this time of year: The high temperature is set to reach 83 degrees Fahrenheit, which is why I plan on getting outside as much as possible today.

With that aside, the time of the month means that it isn't a bad idea to look ahead a couple of weeks to dividend stocks that will be on my watch list for August 2023.

Image source: Pexels

Dividend Stock #1: AbbVie (ABBV)

The first dividend stock on my watch list for next month is AbbVie (ABBV). Readers interested in my investment thesis for the stock can check out my Motley Fool article from last month (also covering Air Products & Chemicals and PepsiCo).

But the gist of my thesis is as follows: AbbVie's medicine portfolio and drug pipeline position it well for both the near future and the long-term. The company also offers a generous and well-covered 4.4% dividend yield for an attractive valuation at the current $136 share price (as of July 15, 2023).

Dividend Stock #2: Lowe's (LOW)

The next dividend stock that I'm watching for August 2023 is Lowe's (LOW). Curious readers can peruse my Motley Fool article from June on the stock.

In a nutshell, Lowe's is holding up better than you'd expect in an environment with shrinking home renovation budgets. Also, the company's 1.9% yield is safe and not too shabby of starting income for its decent dividend growth prospects. And Lowe's stock isn't unreasonably valued at the present $229 share price (as of July 15, 2023), either.

Dividend Stock #3: VICI Properties (VICI)

The third dividend stock on my watch list for next month is VICI Properties (VICI). Readers can visit my Motley Fool article from last month for the investment thesis.

VICI has made its shareholders richer than the tech-heavy Nasdaq Composite would have over the past five years. For some, that's probably a surprise. But those who know the quality of VICI's real estate portfolio and business model likely aren't the least bit shocked by this outperformance. The stock's sustainable 5% dividend yield and somewhat cheap valuation at the current $32 share price (as of July 15, 2023) seal the deal for me.

Concluding Thoughts:

As has been the case for a while now, I expect that my capital allocation should (hopefully) remain between $3,000 and $3,500 for August 2023. This should allow me to continue rapidly building up my portfolio with world-class businesses in the near future!

Discussion:

Are any of ABBV, LOW, or VICI on your watch list for next month?

If not, what stocks are you considering for August 2023?

I appreciate your readership and welcome your comments below!

June 2023 Dividend Income

As I'm writing this blog post, it's Wednesday, July 5. But despite it being summer here in Central Wisconsin, the temperature is going to be ideal today, reaching a high of 76 degrees Fahrenheit. That's exactly why I plan out getting outside later!

But before I go outside, now would be a good time to look back on my dividend income for the month of June 2023. Let's get into it!

During June 2023, I collected $421.41 in net dividends. Compared to the $392.62 in net dividends that I received in March 2023, this represents a quarterly growth rate of 7.3%.

Stacked up against the $332.86 in net dividends that I collected in June 2022, this works out to a 26.6% year over year growth rate.

Digging deeper, I received $324.45 in net dividends from 48 companies within my Robinhood account. Secondly, I collected $80.80 in net dividends from my Capital Income Builder (CAIBX) mutual fund in my retirement portfolio. Thirdly, I received $15.63 in net dividends from six companies within my Webull account. Finally, I collected $0.53 in net dividends from 24 companies in my M1 Finance portfolio.

The $28.79 increase in net dividends received from March 2023 to June 2023 was the result of the following activity within my accounts:

My net dividends collected from Simon Property Group (SPG) were $0.45 higher in my Robinhood portfolio, which was due to the 2.8% dividend raise announced in May.

I received an additional $6.26 in net dividends from Crown Castle International (CCI) within my Robinhood account. This was the result of my purchase of another four shares of stock in May.

My net dividends collected from PepsiCo (PEP) edged upward by $0.47 in my Robinhood and M1 Finance portfolios, which was due to the 10% dividend boost declared in February.

I received an extra $1.50 in net dividends from Main Street Capital (MAIN) within my Robinhood account. This was the result of the big special dividend and the regular dividend increase announced in May.

My net dividends collected from UnitedHealth Group (UNH) rose by $2.34 in my Robinhood and Webull portfolios, which was due to my purchase of another share of the stock in March and the 13.9% dividend lift declared in June.

I received an additional $4.18 in net dividends from Home Depot (HD) within my Robinhood account. This was the result of my purchase of two more shares in May.

My net dividends collected from Realty Income (O) were $1.79 higher in my Robinhood portfolio, which was due to dividend raises in March and May and my purchase of seven shares in April.

I received an extra $0.28 in net dividends from Raytheon Technologies (RTX) within my Robinhood account. This was the result of the 7.3% dividend raise announced in April.

My net dividends collected from Tractor Supply (TSCO) increased by $2.06 in my Robinhood portfolio, which was due to my purchase of two more shares in March.

I received an extra $0.06 in net dividends from International Business Machines (IBM) within my Robinhood account. This was the result of a 0.6% bump in its quarterly dividend per share in April.

My net dividends collected from Pfizer (PFE) grew by $3.69 in my Robinhood portfolio, which was due to my purchase of nine shares in February.

I received an additional $0.30 in net dividends from Johnson & Johnson (JNJ) within my Robinhood account. This was the result of a 5.3% dividend increase in April.

My net dividends collected from Southern Company (SO) edged $0.11 higher in my Robinhood and M1 Finance portfolios, which was due to the 2.9% payout raise in April.

I received an extra $3.66 in net dividends from TJX Companies (TJX) within my Robinhood account. This was the result of my decision to start a position back in April.

My net dividends collected from American Water Works (AWK) were $0.21 more in my Robinhood portfolio, which was due to the 8% dividend hike in April.

I received an additional $0.90 in net dividends from Visa (V) within my Robinhood account. This was the result of my purchase of two more shares in April.

My net dividends collected from CAIBX were $0.56 higher in my retirement portfolio, which was due to my higher share count from dividend reinvestment.

I received $0.03 less in net dividends from Fastenal (FAST) within my M1 Finance account. This was the result of the timing of the dividend payment.

Concluding Thoughts:

With my net dividends clocking in firmly above $400 in June 2023, my days of sub-$400 months for the end of each quarter should be behind me. And as I continue to steadily deploy capital, I believe September 2023 will be my final end-of-quarter month below $500.

Discussion:

How was your dividend income for June 2023?

Did you collect any first-time dividends like I did with TJX?

Thanks for reading and please leave your comments below!

June 2023 Dividend Stock Purchases

As I'm writing this blog post, it is Saturday, July 1. It's hard to believe that 2023 is already half in the books! It certainly feels like July as well, with the high temperature expected to reach 84 degrees Fahrenheit today here in Central Wisconsin.

With June behind us, now would be a good time for me to highlight the (mostly) dividend stock purchases that I made during the month.

The first stock purchase that I executed in June was a share of Amazon (AMZN) at a price of $123.46. It has been nearly 15 months since my first purchase of AMZN stock in April 2022, but the investment thesis that I laid out remains intact in my opinion.

My other non-dividend stock purchase that I completed last month was another share of Alphabet (GOOGL) at a cost of $122.34. Just like AMZN, my initial investment thesis on GOOGL from my July 2022 Stock Purchases blog post from nearly a year ago looks to remain in place.

The first dividend stock purchase that I made in June was seven shares of W.P. Carey (WPC) at an average price per share of $70.60. Readers interested in my investment thesis for WPC can check out my Motley Fool article on the stock from last month. This dividend stock purchase boosted my net annual forward dividends by $29.876, which works out to a 6.05% net dividend yield.

My next dividend stock purchase that I executed last month was 16 units of Enterprise Products Partners (EPD) at an average cost per unit of $26.29. Curious readers can peruse my June 2023 Dividend Stock Watch List blog post for my investment thesis relating to EPD. This transaction added $31.36 in net annual forward distributions to my portfolio, which equates to a 7.46% distribution yield.

The third dividend stock purchase that I completed in June was two shares of General Dynamics (GD) at an average price per share of $213.63. Again, readers can take a look at my June 2023 Dividend Stock Watch List blog post linked above for the investment thesis on GD. This purchase lifted my net annual forward dividends by $10.56, which is equivalent to a 2.47% net dividend yield.

My next dividend stock purchase that I made last month was five shares of Medtronic (MDT) at an average cost per share of $87.36. As is the case with EPD and GD, readers can check out my June 2023 Dividend Stock Watch List for my investment thesis on MDT. This transaction boosted my net annual forward dividends by $13.80, which works out to a 3.16% dividend yield.

The fifth dividend stock purchase that I executed in June was three shares of American Tower (AMT) at an average price per share of $191.08. Interested readers can check out my investment thesis for AMT in this Motley Fool article from last month. This purchase added $18.84 in net annual forward dividends to my portfolio, which equates to a 3.29% net dividend yield.

My final dividend stock purchase completed last month was 13 shares of U.S. Bancorp (USB) at an average cost per share of $32.30. This transaction lifted my net annual forward dividends by $24.96, which is equivalent to a 5.95% dividend yield.

Concluding Thoughts:

I deployed $3,017.40 in capital to stock purchases for the month of June 2023. Considering the $129.396 in net annual forward dividends that these transactions added to my portfolio during the month, this works out to a 4.29% weighted average net dividend yield.

Along with $6.56 in extra net annual forward dividends from dividend increases for the month, my net annual forward dividends surged from approximately $3,830 heading into June to $3,970 at the start of July. God willing, I am on track to surpass $4,000 in net annual forward dividends this month. I don't know what else to say other than that I'm so blessed to have known about dividend growth investing from such an early age. God bless the USA and Happy 4th of July to all of my fellow American readers!

Discussion:

How was your capital deployment in the month of June 2023?

Did you begin any new positions for the month?

Thanks for reading and please feel free to comment below!