Tuesday, April 9, 2024

March 2024 Dividend Income

As I'm writing this blog post, it's April 3rd. My paternal grandma is officially 86 years old today! After a relatively warm March, the weather has cooled off in recent days to start April here in Central Wisconsin. The temperature today is 34 degrees Fahrenheit and the ground is covered with a few inches of snow.

I'm not complaining, though. We have had limited snowfall so far this season and not much rain, either. So, I'll take precipitation however we can get it for the grass to get greened up.

Now that March is in the books, I will take a look at my dividend income for the month.

Nearing A Major Milestone For The Portfolio

In March 2024, I received $476.14 in net dividends (adjusting for ADR fees on BP dividends and withholdings on BAM dividends). Against the $529.78 in net dividends that I collected in December 2023, that's a -10.1% quarterly growth rate. Factoring out $81.26 in special dividends received from CAIBX (net of the $10 annual fee), my net dividend income was up 6.2%.

Compared to the $392.62 in net dividends that I collected in March 2023, this is a 21.3% year-over-year growth rate.

My residual Robinhood net dividends and Charles Schwab net dividends totaled $372.66 from 47 companies. This was driven by dividend raises announced in December, January, and February. The timing of an $8.15 dividend payment from United Parcel Service (UPS) also played a role in the income derived within these accounts.

I received $85.96 in regular net dividends from my Capital Income Builder or CAIBX mutual fund within my retirement account. That was due to a raise in the quarterly dividend per share and a higher share count from dividend reinvestment.

My net dividends collected in my Webull account from six companies were $16.97. This was the result of Prudential Financial's (PRU) 4% raise in the quarterly dividend per share announced in February.

In my M1 Finance account, the timing of UPS' dividend payment offset the timing of Fastenal's (FAST) dividend payment. Along with an extra $0.01 each from Aflac (AFL), Amgen (AMGN), and NextEra Energy (NEE) stemming from recent dividend hikes, this is how my net dividends were $0.55 from 23 companies.

Concluding Thoughts:

My portfolio is edging closer to generating $500 in monthly net dividends for the months of March, June, and September, as I surpassed $500 in December with special dividends from my CAIBX holding included. Overall, I hope to be blessed enough to continue this journey in the months and years that lie ahead. After years of hard work and (mostly) diligent capital deployment, it's starting to pay off!

Discussion:

How was your dividend income in March 2024?

Did you collect any special dividends or first-time dividends during the month?

Thanks for reading and please feel free to comment below!

Tuesday, April 2, 2024

March 2024 Dividend Stock Purchases

As I'm writing this blog post, it's Wednesday, March 27th. The high temperature is expected to reach 34 degrees Fahrenheit here in Central Wisconsin today. Good Friday and Easter weekend are shaping up to be very warm, with the high temperatures reaching into the 50s. So, it will be a great time to for me to spend time with family, praise my Lord and savior, Jesus Christ, and get outside!

Now that there is just one trading day left in the month, it is time to discuss my dividend stock purchases for March 2024.

Dividend Stock Purchase #1: Automatic Data Processing (ADP)

I started off my purchases today and for this month by purchasing four more shares of Automatic Data Processing (ADP) at an average price per share of $247.72. The $22.40 that this transaction added to my portfolio's net annual forward dividends was equivalent to a 2.26% net dividend yield.

Interested readers can check out a link to my buying rationale in my March 2024 Dividend Stock Watch List blog post.

Dividend Stock Purchase #2: Agree Realty (ADC)

Next, I opened a 20 share position in Agree Realty (ADC) at an average cost of $56.55 apiece. The $59.28 in net annual forward dividends that this purchase added to my portfolio worked out to a 5.24% net dividend yield.

Similar to ADP, readers can find a link to my investment thesis for ADC in the March 2024 Dividend Stock Watch List blog post that I noted earlier.

Dividend Stock Purchase #3: Enbridge (ENB)

Finally, I started a 31 share position in Enbridge (ENB) at an average cost of $35.82 each. This transaction lifted my net annual forward dividends by $83.70, which equated to a 7.54% net dividend yield.

Like ADP and ADC, a link to my buying explanation for ENB can also be found in the March 2024 Dividend Stock Watch List blog post.

Concluding Thoughts:

After seven months of not deploying fresh capital to shore up my emergency fund, I deployed $3,232.17 in capital in March 2024. Compared to the $165.38 in net annual forward dividends added by these purchases, that's a 5.12% weighted average net dividend yield.

Along with $14.184 in dividend increases during the month, my net annual forward dividends grew to nearly $4,480 heading into April.

Discussion:

How was your capital deployment in March 2024?

Did you open any new positions as I did with ADC and ENB?

Please feel free to comment below and I hope everyone has/had a blessed Easter!