June 2024 Dividend Stock Watch List

As I'm writing this blog post, it is Monday, May 6. The weather is going to be perfect today here in Central Wisconsin, with clear skies and the temperature expected to hit a high of 75 degrees Fahrenheit. 

The first week of the month is almost over. So, now would be a good time to take a look at three dividend stocks that are top of mind for purchases next month.

Dividend Stock #1: American Water Works (AWK)

First up is the water utility, American Water Works (AWK). Interested readers can check out my Seeking Alpha article from earlier this month to learn why I would like to up my weighting in the stock.

Basically, AWK is a steady grower and the most recent quarterly results reinforce my belief that this won't be ending anytime soon. The 8.1% dividend hike announced just days ago is supported by the low payout ratio. Lastly, I believe shares could be worth approximately $141 each, which would be a decent discount from the current $130 share price.

Dividend Stock #2: VICI Properties (VICI)

The next dividend stock on my watch list is VICI Properties (VICI). For a deeper dive into why I like VICI, readers can peruse my Seeking Alpha article from last month.

Simply put, VICI's near-6% dividend yield can be sustained by FFO per share generation. Consistent FFO per share growth can also power future dividend growth. Finally, shares could be worth $35 apiece. That would be a moderate discount versus the current $29 share price.

Dividend Stock #3: WEC Energy Group (WEC)

The third stock on my watch list is WEC Energy Group (WEC). Readers can take a look at my Seeking Alpha article published today for my updated investment thesis.

Basically, I think WEC's latest quarterly results back up my argument that it is just a few years away from becoming a Dividend Aristocrat. The company's earnings are consistently growing. For a utility, the payout is also conservative. In closing, WEC could be worth $96 a share - - a double-digit percentage discount from the current $82 share price.

Concluding Thoughts:

There we have it. The names and the month may change, but the story stays the same. Three more businesses that I believe are high-quality and undervalued. Thus, why I'm likely going to be adding to each next month.

Discussion:

Are any of AWK, VICI, or WEC on your watch list for the foreseeable future?

If not, what stocks are you currently watching?

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

April 2024 Dividend Income

As I'm writing this blog post, it is currently Wednesday, May 1. The temperature is expected to reach a high of 68 degrees Fahrenheit here in Central Wisconsin. That's why aside from my usual treadmill and weights routine, I plan on getting outside for at least a half an hour to an hour later today.

With that aside, a new month means now is a great time to reflect on my portfolio's net dividend income for April 2024. Without further ado, I'll jump into it!

A Decent Month Considering Recent Portfolio Activity

During April 2024, I received $246.69 in net dividends. This was 7.2% less than the $265.76 in net dividends that I collected in January 2024. However, when adjusting for some special items, my net dividends would have grown by 6.4% in April over that month.

Via my forced sale of Spirit Realty (SRC) to Realty Income (O) due to the latter's acquisition, this was a $7.06 hit to my net dividends. My sale of Leggett & Platt (LEG) in January was a $14.72 drag on my net dividends. The timing of Digital Realty Trust's (DLR) dividend also weighed on my net dividends to the tune of $12.20.

Against the $222.78 in net dividends that I received in April 2023, this was a 10.7% year-over-year growth rate (before accounting for the above items).

In my Charles Schwab account, I collected $236.23 in net dividends from 27 companies. The aforementioned headwinds from SRC, LEG, and DLR were partially offset by dividend raises.

My net dividends received from four companies in my Webull account were unchanged at $10.24.

Concluding with my M1 Finance account, I collected $0.22 in net dividends from nine companies. This was also the same as January 2024.

Concluding Thoughts:

My net dividends dipped below $250 in April. But moving forward, they should climb back above that in July and beyond. Besides dividend increases, this is because of my dividend stock purchases made in March 2024.

Discussion:

How was your dividend income last month?

Did you collect any first-time dividends in April 2024?

As always, thanks for reading and please feel free to comment below!