November 2025 Dividend Income

As I'm writing this blog post, it's Friday, November 28th. The temperature here in Central Wisconsin is going to reach a high of just 27 degrees Fahrenheit later today. In other words, it feels every bit like it will soon be December.

Now that the month is just about complete, I'll be looking at my net dividend income for November 2025. Without further ado, let's dig into it!

Net Dividend Income Surpassed $650

In November 2025, I received $654.25 in net dividends (including ADR fees for British American Tobacco). Compared to the $622.85 in net dividends collected in August 2025, this is a 5% quarterly growth rate.

Relative to $449.18 in net dividends received in the year-ago period of November 2024, my net dividends were up 45.7%.

In my Charles Schwab account, I collected $616.04 in net dividends from 19 companies. The discrepancy between the number of dividend payments from August to November is explained by the timing of Novo Nordisk's (NVO) semiannual dividend and my sale of Abbott Laboratories (ABT) stock in August 2025. This higher income was made possible by additional purchases of ONEOK (OKE) in September 2025 and October 2025, as well as an additional MPLX buy in November 2025.

I received $21.63 in net dividends from three companies within my Fidelity IRA portfolio. This slight increase came from dividend boosts recently announced by Agree Realty (ADC) and Realty Income (O).

Finally, I collected $16.58 in net dividends from three companies in my Webull account. Modestly unfavorable currency translation on dividends received from BTI led net dividends incrementally lower.

Concluding Thoughts:

November 2025 represented another month of progress for the dividend growth stock portfolio. Through the first 11 months of the year, my net dividends received are up almost 28% over the first 11 months of 2024. By the grace of God, I aim to continue this compounding for many more years and decades.

Discussion:

How was your dividend income in November 2025?

Did you receive any first-time dividend payments during the month?

Thanks for reading and please feel free to comment below!

Expected Dividend Increases for December 2025

As I'm writing this blog post, it's currently Friday, November 21st. The temperature here in Central Wisconsin is set to reach a high of 45 degrees Fahrenheit later today. Needless to say, that's balmy for this time of the year.

With that aside, I have receive all the dividend raises that I'm anticipating for November 2025. That's why I'll be taking a moment to recap them and look ahead to the payout boosts that I'm expecting for next month.

Actual Dividend Increases for November 2025

Actual Dividend Increase #1: Automatic Data Processing (ADP)

Automatic Data Processing announced a 10.4% lift in its quarterly dividend per share to $1.70. This came in just above my forecast of a 9.7% increase to $1.69.

Across my 12 shares of ADP, my net annual forward dividends rose by $7.68 due to this dividend announcement.

Expected Dividend Increase #2: Aflac (AFL)

Aflac declared a 5.2% increase in its quarterly dividend per share to $0.61. My net annual forward dividends grew by $1.32 across my 11 shares of AFL from this dividend declaration.

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

Main Street Capital announced a 2% raise in its monthly dividend per share to $0.26. That was in line with my expectations.

Across my 30 shares of MAIN, my net annual forward dividends increased by $1.80 due to this dividend announcement.

Expected Dividend Increase #4: Merck (MRK)

Merck declared a 4.9% bump in its quarterly dividend per share to $0.85, which was what I anticipated.

My net annual forward dividends rose by $3.04 across my 19 shares of MRK from this dividend declaration.

Expected Dividend Increase #5: Royal Gold (RGLD)

My latest new position, Royal Gold announced a 5.6% increase in its quarterly dividend per share to $0.475. This was about half of the 11.2% hike to $0.50 that I was forecasting. However, I believe this is a prudent move by RGLD. As its recent acquisitions of Sandstorm Gold and Horizon Copper are incorporated into the business and it commits to completely repaying its debt in the next 18 months, I think that dividend growth will reaccelerate again. That's why I think next November could see a return to a double-digit percentage annual dividend growth rate.

Across my six shares of RGLD, my net annual forward dividends edged $0.60 higher due to this dividend announcement.

Expected Dividend Increases for December 2025

Expected Dividend Increase #1: Broadcom (AVGO)

The first payout boost that I'm predicting for next month will be from Broadcom. My best guess is that AVGO will declare an 18.6% hike in its quarterly dividend per share to $0.70. Since AVGO is growing like a weed and has consequently deleveraged (S&P recently upgraded its credit rating from BBB to A-), I would argue this is a realistic projection.

Across my 20 shares of AVGO, my net annual forward dividends would surge by $8.80 from such a dividend declaration.

Expected Dividend Increase #2: Bristol Myers Squibb (BMY)

The next dividend increase that I'm expecting for December will come from Bristol Myers Squibb. I believe that BMY will announce a 3.2% bump in its quarterly dividend per share to $0.64.

My net annual forward dividends would rise by $1.76 across my 22 shares due to such a dividend announcement.

Expected Dividend Increase #3: Mastercard (MA)

The third payout boost that I'm forecasting for next month will be from Mastercard. My guess is that MA will declare a 14.5% hike in its quarterly dividend per share to $0.87.

Across my five shares of MA, my net annual forward dividends would increase by $2.20 from such a dividend declaration.

Expected Dividend Increase #4: Realty Income (O)

The next dividend increase that I'm predicting for December will come from Realty Income. I have a hunch that O will announce a 0.2% increase in its monthly dividend per share to $0.27. It's worth noting that O tends to up its dividend by incremental amounts four times a year and around two percent once a year.

My net annual forward dividends would edge $0.918 higher across my 153 shares due to such a dividend announcement.

Expected Dividend Increase #5: Pfizer (PFE)

The final dividend raise that I'm expecting for next month will be from Pfizer. My best guess is that PFE will increase its quarterly dividend per share to $0.44.

Across my 26 shares of PFE, my net annual forward dividends would grow by $1.04 from such a dividend declaration.

Concluding Thoughts:

My net annual forward dividends grew by $14.44 from the five raises that I received in November. This would be equivalent to investing $481.33 at a 3% net dividend yield.

If my five raises for December 2025 play out as predicted, my net annual forward dividends would rise by $14.718. That would equate to investing $490.60 at a 3% dividend yield.

Discussion:

How was your November 2025 for payout raises?

Did you receive any first-time dividend boosts for the month like I did with RGLD?

I appreciate your readership and welcome your comments below!

November 2025 Dividend Stock Purchases

As I'm writing this blog post, it's currently Friday, November 14th. The high temperature here in Central Wisconsin is set to reach 51 degrees Fahrenheit later today. For this time of the year, this is fantastic weather. Needless to say, I plan on getting outside for a while today!

With that aside, my purchases for November 2025 are likely complete. That's why I will now be highlighting my dividend stock purchases for the month.

Dividend Stock Purchase #1: Carlisle Companies (CSL)

My first dividend stock purchase during the month was another share of Carlisle Companies at a price of $323.69. For my investment thesis, readers can peruse my November 2025 Stock Watch List blog post. This transaction added $4.40 to my net annual forward dividends, which works out to a 1.36% net dividend yield.

Dividend (Distribution) Stock Purchase #2: MPLX LP (MPLX)

The next stock purchase that I completed in November 2025 was 13 units of MPLX LP at an average price per unit of $51.00. Readers may recall that ONEOK was on my watch list for November 2025. However, I felt compelled to pounce on the double-digit percentage distribution hike from MPLX announced earlier this month. This is a position I hadn't added to since last November, so it felt good to up the position. That raised my net annual forward distributions by $55.978, which is equivalent to an 8.44% distribution yield.

Dividend Stock Purchase #3: Novo Nordisk (NVO)

The third dividend stock purchase that I made during the month was 10 more shares of Novo Nordisk at an average cost of $49.43 per share. My investment thesis for this buy can also be found in the November 2025 Stock Watch List blog post that I linked to earlier. This lifted my net annual forward dividends by $15.31, which equates to a 3.10% net dividend yield.

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

A bonus stock purchase that I completed in November 2025 was another share of Automatic Data Processing at a price of $257.17. Interested readers can find my investment thesis in this September Seeking Alpha article. The transaction increased my net annual forward dividends by $6.16, which works out to a 2.40% dividend yield.

Bonus Dividend Stock Purchase #2: Royal Gold (RGLD)

The other bonus stock purchase that I made during the month was a six share starter position in Royal Gold at a cost per share of $170.58. The gist of my investment thesis is available in this Seeking Alpha listicle or my December 2025 Dividend Stock Watch List blog post. This lifted my net annual forward dividends by $10.80, which is equivalent to a 1.06% net dividend yield.

Concluding Thoughts:

In November, I allocated $2,761.69 in net capital. These purchases lifted my net annual forward dividends/distributions by $92.648, which equates to a 3.35% net dividend/distribution yield.

If my remaining dividend hikes play out as anticipated, this will have also boosted my net passive income by $14.44 (including a raise from Aflac and Royal Gold). That would raise my net annual forward dividends/distributions from approximately $6,510 at the start of the month to around $6,615 to end the month.

Discussion:

How did you or how do you expect to fare with your capital deployment in November 2025?

Have you opened any new positions during the month as I have with RGLD? Do you expect to initiate any new positions?

Thank you for reading. I look forward to your comments below!

December 2025 Dividend Stock Watch List

As I'm writing this blog post, it's currently Saturday, November 8th. The high temperature here in Central Wisconsin is set to reach just 37 degrees Fahrenheit later today, which is to be expected for this time of year.

With that aside, I'm just about done with capital deployment for the month. That makes now a good time to look a few weeks ahead to the dividend stocks that are on my radar for December 2025. Let's get into it!

Dividend Stock #1: Meta Platforms (META)

The first stock on my watch list for next month is Meta Platforms. I haven't added to this position since December 2024. As it stands, I'm planning an article for Seeking Alpha on META for early next week. I will link to it upon publication for those who want to read it.

Overall, I like the stock for most of the same reasons that I did about a year ago. I thought the Q3 2025 results demonstrated the power of META's social media ecosystem. Along with the integration of AI (evidenced by its greater ad impressions and average price per ad rate), this is helping it to deliver strong growth to shareholders. META's S&P credit rating remains AA- with a stable outlook, which indicates the company possesses a fortress balance sheet. The 0.3% dividend yield isn't huge, but the payout is well-covered and should have many years of double-digit percentage growth still to come. Putting the buy case over the top is the fact that the $622 share price is well below my fair value estimate near $750 per share.

Dividend Stock #2: Novo Nordisk (NVO)

The next dividend stock on my watch list for December 2025 is Novo Nordisk. The gist of my investment thesis is basically unchanged from my November 2025 Stock Watch List blog post.

NVO's top-notch drug portfolio and pipeline position it to remain a legitimate contender alongside Eli Lilly (LLY) to lead large and growing markets, including obesity and diabetes. This is why I believe NVO is set up for at least high-single-digit annual earnings growth for the foreseeable future. The 3%+ net dividend yield is also secure and in a position to keep growing. NVO's AA S&P credit rating sets it up to execute strategic bolt-on acquisitions to further complement its portfolio. Finally, the stock is trading at a forward 12-month P/E ratio just above 12 from the current $46 share price. For more perspective, that's well below the 10-year average P/E ratio of 27 and my fair value P/E ratio around 20x.

Dividend Stock #3: ONEOK (OKE)

The third dividend stock that I'm watching for next month is ONEOK. Once again, I'd refer interested readers to my November 2025 Stock Watch List blog post for my investment thesis.

Essentially, OKE has what it takes to deliver mid- to high-single-digit annual OCF per share growth over the next several years. The midstream operator is also financially sound, with a BBB S&P credit rating and a stable outlook. In my view, OKE's 6.1% dividend at the current $68 share price remains viable. The forward 12-month P/OCF ratio of 6.5 is considerably less than the 10-year average P/OCF ratio of 9.7 and $100+ fair value per share estimate.

Dividend Stock #4: Royal Gold (RGLD)

One final stock on my watch list for December 2025 is Royal Gold. This is a newcomer to the series, with me having just opened a position in the stock days ago. Interested readers can find my investment thesis in this Seeking Alpha listicle from September.

There are many things that I like about the precious metals streaming and royalty company. Its business model is low-risk and the profit margins are exceptionally high (50%+). RGLD is positioned to cash in on the ongoing rally in gold and other precious metals. The company also recently closed acquisitions for Sandstorm Gold and Horizon Copper. This added dozens of development assets to its portfolio, as well as over 200 assets in the evaluation and exploration stages to drive growth for many more years. RGLD has been a consistent dividend grower over the years as well, with a payout ratio that can support further payout growth. From the current $177 share price, the stock's forward 12-month P/OCF ratio is 11.3. That's much lower than the 10-year average P/OCF ratio of 20.5 and my fair value per share estimate near $270.

Concluding Thoughts:

So, that's my watch list for the coming weeks. Overall, I plan on allocating capital about evenly between the four stocks. In my view, this provides a great balance of income, growth, and value for my investment objectives. Together, the quartet could provide a yield in high-2% range with strong growth prospects and an attractive value profile.

Last but definitely not least, I would like to thank all United States military veterans for their service to this great nation!

Discussion:

Are any of META, NVO, OKE, or RGLD on your watch list for next month?

If not, what stocks are on your radar for December 2025?

Thanks for reading and please feel free to comment below!

All Treats (And No Tricks) From My Dividend Growth Portfolio

As I'm writing this blog post, it's currently Friday, October 31st. Put another way, it's Halloween. Across the country, kids will be going trick-or-treating. Hopefully, they'll be getting many more treats than tricks!

That brings me to the subject of this brief blog post today. On this Halloween, I can say that my dividend growth portfolio has been delivering all treats and no tricks in recent years. Without further ado, let's get into it.

The Portfolio Is Generating Consistent Dividend Growth

The last time that my portfolio experienced a dividend cut was when I still owned Medical Properties Trust (MPW) in August 2023. American Tower cut its quarterly dividend per share from $1.70 to $1.62 in March 2024. However, on a calendar year basis, the REIT has paid out more dividends each year for 14 consecutive years.

Over my eight years of investing, I have found that the keys to minimizing dividend cuts are as follows:

1. Own companies with track records of generating consistent earnings growth (growing earnings in at least eight or nine out of the past 10 years). Look for forward-looking fundamentals that are likely to translate into continued earnings growth as well. This makes it much easier to hand out payout hikes in the future.

2. Own businesses with payout ratios that are manageable for their respective industries. This provides a buffer for dividends to be maintained in temporary downturns.

3. Own companies with phenomenal balance sheets. At least investment-grade (BBB- or higher). The higher the credit rating, the lower the risk of dividend cuts. Approximately 15% of S&P 500 companies have at least an A- credit rating. Yet, they have accounted for less than 3% of the dividend cuts in recent years.

Concluding Thoughts:

There we have it. In my circumstances, following a few general rules has helped me to greatly reduce the dividend cuts in my portfolio in recent years.

Discussion:

When was the last time your portfolio faced a dividend cut?

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

October 2025 Dividend Income

As I'm writing this blog post, it's Friday, October 24th. The high temperature here in Central Wisconsin is set to reach 54 degrees Fahrenheit later today. That's a bit above average for this time of year, so I'll definitely take it.

The month is just about over and I have visibility into the remaining dividends set to be paid. Thus, I will be highlighting my net dividend income for October 2025. Let's dig into it!

Net Dividend Income Surpassed $275

In October 2025, I received $278 in net dividends (including ADR fees for GSK). This was up 3.5% over the $268.61 in net dividends collected in July 2025. Quarterly growth for the first month of each quarter tends to be less since I own less names that pay dividends in these months. Thus, there are less buying opportunities for these baskets of stocks than ones that pay dividends in other months.

On a year-over-year basis, my net dividends were up 5% versus the $264.70 in net dividends that I received in October 2024. Sales of Albemarle (ALB) and Cisco Systems (CSCO) last November, Innovative Industrial Properties (IIPR) last December, Iron Mountain (IRM) in February, and a trim of Philip Morris International (PM) in April each played into this muted dividend growth. That's because these moves couldn't be offset by additions like Rexford Industrial Realty (REXR) last December and adding more to VICI Properties (VICI) in February.

In my Charles Schwab portfolio, I collected $227.93 in net dividends from 20 companies in my portfolio. Dividend raises from the likes of VICI, PM, and Altria Group (MO) were largely to credit for this higher net dividend income.

I also received $42.48 in net dividends from six companies in my Fidelity IRA account. This was also due to the raise from VICI.

Finally, I collected $7.59 in net dividends from two companies in my Webull portfolio. Once again, PM and MO were behind the slight uptick.

Concluding Thoughts:

The dividend growth portfolio continues to make strides. Through October, my net dividends received have surged by nearly 26% versus 2024. Overall, I'm on pace to achieve my goal of at least 25% net dividend growth in 2025. By God's grace, I hope to build on this momentum for many years to come.

Discussion:

How was your October 2025 for dividend income?

Did you receive any first-time dividends during the month?

Thanks for reading and please feel free to comment below!

October 2025 Stock Purchases

As I'm writing this blog post, it's Friday, October 17th. The temperature here in Central Wisconsin is set to reach a high of 74 degrees later today. Better yet, the forecast is partly sunny. Not surprisingly, I plan on getting outside soon.

With a couple of weeks left in the month, I don't anticipate any more stock purchases or any sales. As a result, I'll be turning my attention to my stock purchases in October 2025. Let's jump into it!

Stock Purchase #1: Amazon (AMZN)

Initially, I was going to open a position in MercadoLibre this month. The stock was on my October 2025 Stock Watch List blog post. However, as I noted in my November 2025 Stock Watch List blog post, fractional shares for non-S&P 500 index constituents aren't supported on Charles Schwab. 

This led me to buy more Amazon (AMZN) instead. I picked up five shares of AMZN at $219.28 apiece. Interested readers can check out my investment thesis in my September 2025 Stock Watch List Blog post and/or my recent Seeking Alpha article. 

Moving forward, I have found out that fractional shares are supported on Webull for MELI. That's how I plan to open a starter position in the stock in the months to come.

Stock Purchase #2: NextEra Energy (NEE)

I also added seven shares of NextEra Energy (NEE) at an average price per share of $77.88. Readers who want to know my investment thesis can peruse either my October 2025 Stock Watch List blog post linked earlier or this Seeking Alpha article. This purchase added $15.862 to my net annual forward dividends, which is a 2.91% net dividend yield.

Stock Purchase #3: ONEOK (OKE)

I purchased another 13 shares of ONEOK (OKE) at an average cost of $73.02 a share. Curious readers can find my investment thesis in the October 2025 Stock Watch List blog post linked earlier or this Seeking Alpha article. The move lifted my net annual forward dividends by $53.56, which equates to a 5.64% net yield.

Bonus Stock Purchase #1: Brookfield Asset Management (BAM)

I also added four shares of Brookfield Asset Management in my Fidelity IRA account at an average price per share of $56.49. Readers can find my investment thesis in my May 2025 Stock Watch List blog post or this Seeking Alpha article. This added $7 to my net annual forward dividends, which is a 3.10% net dividend yield.

Bonus Stock Purchase #2: Philip Morris International (PM)

Finally, I purchased two more shares of Philip Morris International (PM) at an average cost of $146.25 a share. After the 8.9% dividend raise last month, the impressive Q3 earnings results, and recent selloff, I have decided to up my weighting in PM once again. My purchase price represents a forward 12-month P/E ratio of 17.8. While that's slightly above the 10-year average P/E ratio of 17.3, PM's double-digit annual adjusted diluted EPS growth profile arguably justifies such a valuation. This transaction added $11.76 to my net annual forward dividends, which equates to a 4.02% net dividend yield.

Concluding Thoughts:

In October, I put $3,109.21 of capital to work. These transactions pushed my net annual forward dividends higher by $88.182, which works out to a 2.84% net dividend yield.

My net annual forward dividends surged $46.21 higher from dividend raises during the month. That boosted my net annual forward dividends from $6,375 at the start of the month to around $6,510 heading into November.

Discussion:

How was your capital deployment during the month?

Did you open any new positions in October 2025?

I appreciate your readership and welcome your comments below!

Expected Dividend Increases for November 2025

As I'm writing this blog post, it's Friday, October 10th. The temperature here in Central Wisconsin is set to reach a high of 67 degrees Fahrenheit later today. There will be intermittent showers throughout the day, but I'll still take this weather for this time of year.

As of yet, I haven't received any dividend raises this month. However, I'm expecting 10 raises. As these are announced, I will update this blog post accordingly.

Actual Dividend Increases for October 2025

Actual Dividend Increase #1: AbbVie (ABBV)

AbbVie upped its quarterly dividend per share by 5.5% to $1.73. That fell slightly short of my projection of a 6.7% hike in the quarterly dividend per share to $1.75.

My net annual forward dividends surged by $5.04 across my 14 shares of ABBV from this dividend news.

Actual Dividend Increase #1: Agree Realty (ADC)

Agree Realty declared a 2.3% raise in its monthly dividend per share to $0.263. This exceeded my prediction of a 1.6% increase in the monthly dividend per share to $0.26.

Across my 20 shares of ADC, my net annual forward dividends grew by $1.44 due to this dividend declaration.

Actual Dividend Increase #2: American Electric Power (AEP)

American Electric Power announced a 2.2% increase in its quarterly dividend per share to $0.95. This was well short of my expectations. Still, I will tolerate this dividend raise for now because I believe this will pay off down the road.

My net annual forward dividends grew by $1.20 across my 15 shares of AEP from this dividend announcement.

Actual Dividend Increase #3: A.O. Smith (AOS)

A.O. Smith declared a 5.9% boost in its quarterly dividend per share to $0.36, which matched my forecast.

My net annual forward dividends edged $0.96 higher across my 12 shares of AOS due to this dividend declaration.

Actual Distribution Increase #4: Energy Transfer (ET)

Energy Transfer announced a 0.8% increase in its quarterly distribution per unit to $0.3325, which was what I expected.

Across my 207 units, my net annual forward distributions grew by $2.07 from this distribution announcement.

Actual Dividend Increase #5: Lockheed Martin (LMT)

Lockheed Martin declared a 4.5% raise in its quarterly dividend per share to $3.45. This was in line with my projection.

Across my four shares of LMT, my net annual forward dividends increased by $2.40 due to this dividend declaration.

Actual Dividend Increase #6: McDonald's (MCD)

McDonald's announced a 5.1% increase in its quarterly dividend per share to $1.86. That came in slightly below my prediction of a 5.6% boost to $1.87.

My net annual forward dividends grew by $1.80 across my five shares of MCD from this dividend announcement.

Actual Distribution Increase #7: MPLX LP (MPLX)

MPLX LP declared a 12.5% hike in its quarterly distribution per unit to $1.0765. This was just above my forecast of a 12.4% lift to $1.075.

Across my 57 units of MPLX, my net annual forward distributions climbed $27.36 higher due to this distribution declaration.

Actual Dividend Increase #8: Pinnacle West Capital (PNW)

Pinnacle West Capital announced a 1.7% raise in its quarterly dividend per share to $0.91, which was what I expected.

My net annual forward dividends edged up by $0.42 across my seven shares of PNW from this dividend announcement.

Actual Dividend Increase #9: Visa (V)

Visa declared a 13.6% hike in its quarterly dividend per share to $0.67. This was $0.01 above my prediction.

Across my 11 shares of V, my net annual forward dividends rose by $3.52 due to this dividend declaration.

Expected Dividend Increases for November 2025

Expected Dividend Increase #1: Automatic Data Processing (ADP)

The first dividend hike that I'm expecting for November 2025 will come from Automatic Data Processing. I anticipate that ADP will announce a 9.7% boost in its quarterly dividend per share to $1.69.

My net annual forward dividends would surge $6.60 higher across my 11 shares of ADP from such a dividend announcement.

Expected Dividend Increase #2: Main Street Capital (MAIN)

The next dividend raise that I'm predicting for next month will be from Main Street Capital. My best guess is that MAIN will declare a 2% increase in its monthly dividend per share to $0.26.

Across my 30 shares of MAIN, my net annual forward dividends would grow by $1.80 due to such a dividend declaration.

Expected Dividend Increase #3: Merck (MRK)

The third and final dividend hike that I'm forecasting for November 2025 will come from Merck. My guess is that MRK will announce a 4.9% increase in its quarterly dividend per share to $0.85.

My net annual forward dividends would rise by $3.04 across my 19 shares of MRK from such a dividend announcement.

Concluding Thoughts:

If my remaining dividend raise for October 2025 plays out as predicted, my net annual forward dividends would soar by $46.21 from 10 raises. That would be equivalent to investing $1,540.33 at a 3% net dividend yield.

If my three raises for November 2025 materialize, my net annual forward dividends would increase by $13.24. This would be like investing $441.33 at a 3% dividend yield.

Discussion:

How has your month been to date for dividend hikes?

Have you received any first-time payout boosts in October 2025?

Thanks for reading and please feel free to comment below!

November 2025 Stock Watch List

As I'm writing this blog post, it's Friday, October 3rd. The temperature here in Central Wisconsin is set to reach a high of 87 degrees Fahrenheit later today. Better yet, a partly sunny forecast is predicted throughout today. Unsurprisingly, I'm going to be spending time outside today.

I have already deployed my initial capital for this month. So, I'm likely done with capital deployment for the month. That's why I will be turning my attention to potential stock buys for November 2025. Without further ado, let's jump into it!

Stock #1: Carlisle Companies (CSL)

Initially, my plan was to run back MercadoLibre from my October 2025 Stock Watch List blog post. However, I found out that Charles Schwab doesn't support fractional shares for any companies besides S&P 500 index constituents. As a result, I have pivoted to Carlisle Companies.

In my September 2025 Stock Purchases blog post, I outlined the gist of my investment thesis. Aging U.S. infrastructure and CSL's history of savvy bolt-on acquisitions are growth tailwinds. The company's investment-grade balance sheet and low dividend payout ratio give it flexibility for more bolt-on acquisitions in the future. I also believe CSL's dividend is positioned for double-digit percentage growth. At the $332 share price, the stock is priced at a P/E ratio of 15.3. This is significantly less than the 10-year average P/E ratio of 20.5 and my fair value of $400 a share (18.5 P/E ratio).

Stock #2: Novo Nordisk (NVO)

The next stock on my watch list for next month is Novo Nordisk. Interested readers can find my investment thesis in my August 2025 Dividend Stock Purchases blog post.

I believe NVO's drug portfolio and pipeline. This is why I think the company can deliver strong annual earnings growth for the foreseeable future. NVO's balance sheet is nearly flawless, with an AA S&P credit rating. The 2.6% dividend yield is also well-covered. At the current $59 share price, the stock is trading at a forward 12-month P/E ratio of 15. That's well below the 10-year average P/E ratio of 27 and my fair value P/E ratio in the low-20 range ($84 a share).S

Stock #3: ONEOK (OKE)

The third stock on my watch list for November 2025 is ONEOK. Curious readers can peruse my investment thesis on OKE in my October 2025 Stock Watch List blog post or my August 2025 Seeking Alpha article.

OKE continues to have catalysts to drive mid- to high-single-digit OCF per share growth in the coming years. The company's BBB S&P credit rating is another plus. Lastly, the stock is trading at a forward 12-month P/OCF ratio of 6.9 from the current $73 share price. OKE's 5.7% dividend yield is quite safe, too. This is less than the 10-year average P/OCF ratio of 9.7 and my fair value P/OCF ratio of 8.7 ($92 a share).

Concluding Thoughts:

There we have it. I'm running back OKE. I'm also eager to add to my stakes in CSL and NVO. Overall, I'm planning on a 45% weight for CSL, 30% weight for OKE, and 25% weight for NVO, respectively. These weights could provide a yield in the high-2% range, outsized growth potential, and meaningful valuation upside.

Discussion:

Are any of CSL, NVO, or OKE on your watch list for November 2025?

If not, what stocks are you considering buying next month?

I appreciate your readership and welcome your comments below!

September 2025 Dividend Income

As I'm writing this blog post, it's Friday, September 26th. The temperature here in Central Wisconsin is set to reach a high of 76 degrees Fahrenheit later today. Better yet, the forecast is for a mostly sunny day. So, I'm certainly hoping to spend time outside in a bit!

With that aside, the end of the month is right around the corner. Thus, I will be briefly highlighting my net dividends collected in September 2025. Without further ado, let's jump into it!

Net Dividends Are Steadily Growing

In September 2025, I received $623.20 in net dividends (including ADR fees for BAM in my taxable account). Compared to the $615.38 in net dividends collected in June 2025, that's equivalent to a 1.3% quarterly growth rate.

Against the $543.81 in net dividends received in September 2024, this equates to a 14.6% year-over-year growth rate.

In my Charles Schwab account, I collected $369.96 in net dividends from 39 companies.

I also received $138.34 in net dividends from 14 companies within my Fidelity IRA portfolio.

In my other retirement account, I collected $95.17 in net dividends from my Capital Income Builder mutual fund. A higher share count from automatically reinvesting the prior dividend led to this uptick.

Lastly, I received $19.73 in net dividends from seven companies within my Webull portfolio. The 12.5% boost in Wells Fargo's (WFC) quarterly dividend per share to $0.45 was to credit for this slight growth.

Concluding Thoughts:

The dividend growth portfolio continues to progress. By God's grace, American capitalism, and consistent capital deployment/selective dividend reinvestment, I hope to sustain this momentum.

Discussion:

How was your September 2025 for dividend income?

Did you receive any first-time dividends during the month as I did with EQIX?

Thanks for reading and I look forward to your comments below!

September 2025 Stock Purchases/Sales

As I'm writing this blog post, it's currently Friday, September 19th. The temperature here in Central Wisconsin is set to reach a high of 73 degrees Fahrenheit later today. Thus, I'm planning on getting outside in a bit!

With that aside, I'm most likely done allocating capital this month. So, without further ado, I'm going to be outlining my stock purchases and stock sale for September 2025.

Stock #1: Amazon (AMZN)

My first stock purchase for the month was another four shares of Amazon at an average price per share of $225.03. Curious readers can find my investment thesis in my September 2025 Stock Watch List blog post and in this recent Seeking Alpha article.

Stock #2: ONEOK (OKE)

The next stock that I completed in September was an additional 12 shares of ONEOK at an average cost of $75.92 per share. Intrigued readers can check out my investment thesis in my September 2025 Stock Watch List blog post linked earlier or my August Seeking Alpha article. This move upped my net annual forward dividends by $49.44, which equates to a 5.43% net dividend yield.

Stock #3: Union Pacific (UNP)

The third stock purchase for the month was two more shares of Union Pacific at an average price per share of $222. Readers can peruse my investment thesis in my aforementioned September 2025 Stock Watch List blog post. My net annual forward dividends increased by $11.04, which is equivalent to a 2.49% dividend yield.

Bonus Stock: Brookfield Asset Management (BAM)

I also added two shares of Brookfield Asset Management at an average cost of $58.52 per share. Interested readers can find my investment thesis in a Seeking Alpha article from earlier this month. My net annual forward dividends grew by $3.50, which works out to be a 2.99% net dividend yield.

Stock Sales: Hershey (HSY) and Alphabet (GOOGL)

I closed out my five share position in Hershey at an average share price of $190.81. HSY is trading at a forward P/E ratio of nearly 30, which is significantly above the 10-year average P/E ratio of 23.5. I'm confident that HSY can execute its turnaround. However, I believe it's already priced into the stock. This move reduced my net annual forward dividends by $27.40.

I also closed an 11 share position in Alphabet (GOOGL) in my Fidelity IRA at $254.89 a share (~20% of my overall position at a 55% gain, bringing GOOGL down to just under 6% of my portfolio). To be clear, I'm still a long-term believer in the stock. I just viewed this as an opportunity to right-size the portfolio weight with no tax consequences. This reduced my net annual forward dividends by $9.24.

Stock Purchases: NextEra Energy (NEE) and Carlisle Companies (CSL)

I redeployed the proceeds into buying 13 shares of NextEra Energy at an average cost of $70.66 a share. The investment thesis for this decision can be found in my October 2025 Stock Watch List blog post. My net annual forward dividends grew by $29.458 due to this move.

I also purchased an eight share starter position in Carlisle Companies at an average cost per share of $333.85. Interested readers can check out my investment thesis in this May Seeking Alpha listicle. 

Basically, CSL is an established player in the building envelope products industry. Economic development means plenty of new buildings requiring the company's materials will be constructed. More than half of U.S. non-residential buildings are over 35 years old. This will lead to tons of re-roofing demand. CSL's balance sheet is also investment-grade. The 1.3% dividend yield beats the S&P 500 index and looks set to keep growing at a double-digit pace each year. Finally, the stock is trading just above 15x forward earnings. That's well below the 10-year average P/E ratio of 20.5, which positions CSL for potential multiple expansion. This move added $35.20 to my net annual forward dividends.

Concluding Thoughts:

In September, I invested $2,372.17 in capital. My net annual forward dividends from these moves rose by $63.98, which equates to a 2.70% net dividend yield. Capital redeployment increased my net annual forward dividends by $28.018.

Dividend increases lifted my net annual forward dividends by $20.828. Upward adjustments in foreign dividend payers like BTI and NVO also were positives. My net annual forward dividends rose from $6,245 at the start of September to $6,375 to head into October.

Discussion:

How was your capital deployment for September 2025?

Did you close any positions during the month as I did with HSY?

Thank you for reading and please feel free to comment below!

Expected Dividend Increases for October 2025

As I'm writing this blog post, it's currently Friday, September 12th. The temperature here in Central Wisconsin is set to reach a high of 82 degrees Fahrenheit later today.

Now that there are two and a half weeks left in the month, I'm going to look at the dividend raises that I have received thus far and the ones pending yet (the latter will be updated as they are announced). I'll also look ahead to the payout boosts that I'm expecting for October 2025.

Dividend Increase #1: Realty Income (O)

As expected in the previous blog post of this series, Realty Income announced a 0.2% increase in its monthly dividend per share to $0.2695.

Across my 153 shares of O, my net annual forward dividends edged $0.918 higher due to this dividend announcement. 

Dividend Increase #2: VICI Properties (VICI)

VICI Properties also met my expectations, declaring a 4% raise in its quarterly dividend per share to $0.45.

My net annual forward dividends rose by $7.42 across my 106 shares of VICI from this dividend declaration.

Dividend Increase #3: Verizon Communications (VZ)

Verizon Communications matched my forecast as well, announcing a 1.8% bump in its quarterly dividend per share to $0.69.

Across my 45 shares of VZ, my net annual forward dividends increased by $2.25 due to this dividend announcement.

Pending Dividend Increase #1: Microsoft (MSFT)

Microsoft hasn't announced its next dividend, either. Yet, I'm standing by my prediction of a 10.8% boost in the quarterly dividend per share to $0.92.

Across my 11 shares of MSFT, my net annual forward dividends would rise by $3.96 from such a dividend announcement.

UPDATE: MSFT announced a 9.6% hike in its quarterly dividend per share to $0.91. Across my 11 shares of MSFT, my net annual forward dividends grew by $3.52.

Pending Dividend Increase #2: Philip Morris International (PM)

Philip Morris International hasn't declared its next dividend yet. However, I maintain my forecast of a 5.2% increase in its quarterly dividend per share to $1.42.

My net annual forward dividends would grow by $3.92 across my 14 shares of PM from such a dividend declaration.

UPDATE: PM declared an 8.9% boost in its quarterly dividend per share to $1.47. This lifted my net annual forward dividends by $6.72 across my 14 shares.

Expected Dividend Increases for October 2025

Expected Dividend Increase #1: AbbVie (ABBV)

The first dividend lift that I anticipate for next month will be from AbbVie. My hunch is that ABBV will announce a 6.7% raise in its quarterly dividend per share to $1.75.

Across my 14 shares of ABBV, my net annual forward dividends would rise by $6.16 due to such a dividend announcement.

Expected Dividend Increase #2: Agree Realty (ADC)

The next raise that I'm predicting for October will come from Agree Realty. I believe that ADC will declare a 1.6% increase in its monthly dividend per share to $0.26.

My net annual forward dividends would grow by $0.96 across my 20 shares of ADC from such a dividend declaration.

Expected Dividend Increase #3: American Electric Power (AEP)

The third dividend boost that I expect for next month will be from American Electric Power. My best guess is that AEP will announce a 5.4% increase in its quarterly dividend per share to $0.98.

Across my 15 shares of AEP, my net annual forward dividends would rise by $3 from such a dividend announcement.

Expected Dividend Increase #4: A.O. Smith (AOS)

The next dividend increase that I'm anticipating for October will come from A.O. Smith. I'm projecting that AOS will declare a 5.9% lift in its quarterly dividend per share to $0.36.

My net annual forward dividends would grow by $0.96 across my 12 shares of AOS from such a dividend declaration.

Expected Distribution Increase #5: Energy Transfer (ET)

The fifth distribution raise that I predict for next month will be from Energy Transfer. I believe that ET will announce a 0.8% increase in its quarterly distribution per unit to $0.3325.

Across my 207 units of ET, my net annual forward distributions would rise by $2.07 from such a distribution announcement.

Expected Dividend Increase #6: Lockheed Martin (LMT)

The next dividend increase that I'm expecting for October will come from Lockheed Martin. My best guess is that LMT will declare a 4.5% bump in its quarterly dividend per share to $3.45.

My net annual forward dividends would grow by $2.40 across my four shares of LMT from such a dividend declaration.

Expected Distribution Increase #7: MPLX LP (MPLX)

The seventh distribution hike that I anticipate for next month will be from MPLX LP. I'm projecting that MPLX will announce a 12.4% boost in its quarterly distribution per unit to $1.075.

Across my 54 units of MPLX, my net annual forward distributions would be lifted by $27.018 from such a distribution announcement.

Expected Dividend Increase #8: Pinnacle West Capital (PNW)

The next dividend increase that I'm predicting for October will come from Pinnacle West Capital. I believe that PNW will declare a 1.7% increase in its quarterly dividend per share to $0.91.

My net annual forward dividends would edge $0.42 higher across my seven shares of PNW from such a dividend declaration.

Expected Dividend Increase #9: Visa (V)

The final dividend boost that I expect for next month will be from Visa. My best guess is that V will announce an 11.9% hike in its quarterly dividend per share to $0.66.

Across my 11 shares of V, my net annual forward dividends would rise by $3.08 from such a dividend announcement.

Bonus Dividend Increase: McDonald's (MCD)

McDonald's has yet to declare its next dividend. However, I still think that MCD will up its quarterly dividend per share by 5.6% to $1.87.

My net annual forward dividends would grow by $2 across my five shares of MCD from such a dividend declaration.

Concluding Thoughts:

I received five dividend raises in September. These boosted my net annual forward dividends by $20.828. This would be like investing $694.27 at a 3% dividend yield.

If my 10 raises for October materialize, my net annual forward dividends/distributions will have surged by $48.068. That would be equivalent to investing $1,602.27 at a 3% net dividend yield.

Discussion:

How has your month been so far for dividend announcements?

Have you received any first-time payout raises in September?

I appreciate your readership and welcome your comments below!

October 2025 Stock Watch List

As I'm writing this blog post, it's currently Friday, September 5th. The temperature here in Central Wisconsin is set to reach a high of just 56 degrees Fahrenheit later today. That's considerably less than the average temperature for this time of the year.

Now that I'm likely done with my stock purchases for this month, I'll look ahead to the stocks on my radar for October 2025. Without further ado, let's jump into it!

Stock #1: MercadoLibre (MELI)

The first stock is MercadoLibre, which is a newcomer to the watch list. Interested readers can check out my investment thesis in this recent Seeking Alpha article.

Otherwise, the gist of my investment thesis is that MELI is the leading e-commerce and fintech company in Latin America. As the local economies expand, the penetration rate of e-commerce and fintech services is likely to also rise. The company's credit ratings with S&P and Fitch were also both upgraded in the past 12 months to BBB- on stable outlooks. Best of all, I believe the stock is significantly undervalued from the current $2,370 share price.

Stock #2: NextEra Energy (NEE)

The next stock on my watch list for October is NextEra Energy. Curious readers can find my updated investment thesis on NEE in this Seeking Alpha article.

The crux of my investment thesis revolves around the company's presence in the demographically thriving state of Florida. This is supporting heavy capex investments, which has the company confident in its 6% to 8% annual adjusted EPS growth rate through 2027. Honestly, I'd be surprised if growth didn't come in on the high end of that range. What's more, NEE has an A-rated balance sheet. The 3.1% dividend yield is also well-covered by adjusted EPS. That's why the company has committed to annual dividend growth of approximately 10% through at least 2026. The stock is also moderately discounted from the current $72 share price.

Stock #3: ONEOK (OKE)

The final stock on my watch list for next month is ONEOK. Readers can peruse either my September 2025 Stock Watch List blog post or my recent Seeking Alpha article.

OKE's recent acquisitions are unlocking new growth opportunities for the company. Anticipated synergies are another lever that the company is pulling to grow. OKE's financials are also healthy, with a BBB credit rating from S&P on a stable outlook. The 5.6% yield is also secure and set to grow at a mid-single-digit rate annually. Finally, the stock is trading far under my fair value estimate from the current $74 share price.

Discussion:

Another month. Three more great businesses on my radar. MELI would represent a new position for me. I anticipate a roughly 40% allocation to it, an approximately 35% allocation to more OKE, and a ~25% allocation to more NEE.

Concluding Thoughts:

Are any of MELI, NEE, or OKE on your watch list for next month?

If not, what stocks are on your radar for October 2025?

Thanks for reading and please feel free to comment below!

August 2025 Dividend Income

As I'm writing this blog post, it's Friday, August 29th. With Labor Day around the corner, the temperatures here in Central Wisconsin are cooling. The high temperature today is set to reach just 65 degrees Fahrenheit. 

Now that I have received all of my dividends for the month, I will take a moment to outline my dividend income for August 2025. Let's dig into it!

Net Dividend Income Topped $600

In August 2025, I collected $622.85 in net dividends (including ADR fees for British American Tobacco and Novo Nordisk, as well as withholding taxes for Novo Nordisk). Relative to the $568.35 in net dividends received in May 2025, that's equivalent to a 9.6% quarterly growth rate.

My net dividends were also up 61.9% against the $384.73 in net dividends collected in August 2024.

In my Charles Schwab portfolio, I received $584.70 in net dividends from 21 companies. Due to the sales of General Mills (GIS) and Clorox (CLX) in June 2025 and my initial August 2025 stock purchase of Novo Nordisk (NVO), my company count was one lower than in May 2025. Purchases in recent months of more British American Tobacco (BTI) and Enterprise Products Partners (EPD) were mostly to credit for higher income in this account.

I collected $21.48 in net dividends from three companies within my Fidelity IRA account. This was the result of my purchase of 11 more shares of Realty Income (O) in May 2025.

My net dividends received from three companies in my Webull account were $16.67.

Concluding Thoughts:

My net dividends through August 2025 are up nearly 30%. Overall, I still believe that my net dividend growth for the entirety of 2025 will be somewhere around 25%, with a percent or two of upside potential.

As this post will be published the day after Labor Day weekend concludes, I hope everyone had a safe, healthy, and relaxing long weekend!

Discussion:

How was your dividend income in August 2025?

Did you receive any first-time dividend payments during the month as I did with NVO?

I appreciate your readership and welcome your comments below!

August 2025 Dividend Stock Purchases/Sales

As I'm writing this blog post, it's currently Friday, August 22nd. The temperature here in Central Wisconsin is expected to reach a high of 79 degrees Fahrenheit. It's also expected to be partly sunny, so I'm definitely looking to get outside later today.

Since I'm probably done deploying capital for the month, I'm going to highlight my dividend stock purchases and sales for August 2025. Without further ado, let's jump into it.

Dividend Stock #1: Alphabet (GOOGL)

My first purchase in August 2025 was another five shares of Alphabet at an average cost of $188.86 a share. Interested readers can find the gist of my investment thesis in my August 2025 Dividend Stock Watch List blog post. This transaction added $4.20 to my portfolio's net annual forward dividends, which is equivalent to a 0.44% net dividend yield.

Dividend Stock #2: Realty Income (O)

The next purchase that I made during the month was 14 more shares of Realty Income at an average price per share of $56.39. Curious readers can find my investment thesis in the August 2025 Dividend Stock Watch List blog post that I linked above. My net annual forward dividends climbed by $45.192, which equates to a 5.72% net yield.

Dividend Stock #3: UnitedHealth Group (UNH)

My third purchase in August 2025 was another two shares of UnitedHealth Group at an average cost of $236.18 a share. Readers can find my investment thesis in the blog post that I linked earlier. My net annual forward dividends grew by $17.68 from this transaction, which works out to be a 3.74% net dividend yield.

Dividend Stock Sale: Amgen (AMGN), Abbott Laboratories (ABT), and Johnson & Johnson (JNJ)

I closed a six share position in Amgen at an average price per share of $286.54. To be clear, I believe the stock can deliver high-single-digit annual total returns over the next several years. It's arguably a bit discounted, the dividend is well-covered, and mid-single-digit annual non-GAAP EPS growth is fairly realistic. For me, this was about opportunity cost. This move reduced my net annual forward dividends by $57.12.

I also exited a six share position in Abbott Laboratories at an average price of $130.51 and a five share position in Johnson & Johnson at an average price per share of $177.35. ABT and JNJ are both qualitative companies to be sure. However, I believe with their stocks near fair value and their growth prospects, high single digit annual total returns over the next several years is likely. These sales lowered my net annual forward dividends by $40.16.

Dividend Stock Purchases: Novo Nordisk (NVO)

I used the proceeds from my Amgen sale to buy 38 shares of Novo Nordisk at an average cost of $45.59 a share. Overall, I like NVO's AA credit rating from S&P. I'm also a firm believer in the company's existing drug portfolio and drug pipeline. This is why I'm confident that the stock can grow earnings at a high-single-digit to low-double-digit annual rate annually for the foreseeable future. The stock's forward 12-month P/E ratio of approximately 11 was less than half of its 10-year average P/E ratio of 27. Overall, I believe that could set NVO up for 20%+ annual total return potential from this cost basis over the next five years. This transaction added $57.11 to my portfolio's net annual forward dividends.

I also redeployed my proceeds from the ABT and JNJ sales to purchase another 30 shares of NVO at $55.13 per share. I think that high teens annual total return potential from the cost basis on this tranche is a realistic expectation through 2030. This added $45.09 to my net annual forward dividends.

Concluding Thoughts:

In August 2025, I invested $2,206.07 in fresh capital. These purchases added $67.072 to my net annual forward dividends. That's equivalent to a 3.04% net dividend yield. Capital redeployment lifted my net annual forward dividends by another $4.93 during the month.

The dividend raise announced in August 2025 increased my net annual forward dividends by $3.84. An upward adjustment in my dividends from my Capital Income Builder (CAIBX) mutual fund increased my net annual forward dividends by $10.23. This led my net annual forward dividends to grow from around $6,160 at the start of August to $6,245 heading into September.

Discussion:

How was your capital deployment in August 2025?

Did you open any new positions like I did with NVO? Did you close any positions like I did with AMGN, ABT, and JNJ?

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

Expected Dividend Increases for September 2025

As I'm writing this blog post, it's Friday, August 15th. The temperature is set to reach a high of 86 degrees Fahrenheit today here in Central Wisconsin. However, thunderstorms are expected throughout the day. Thus, I won't be getting outside much, if at all today.

Now that August is about half over, I figure it would be a good time to look at the one dividend raise that I'm expecting for this month. I will also preview the dividend boosts that I'm anticipating for September 2025. Let's dive into it!

Actual Dividend Increase for August 2025

Pending Dividend Increase: Altria Group (MO)

Altria Group has yet to up its quarterly dividend per share. However, it will be announcing this on August 21st. I continue to believe that MO will announce a 3.9% bump in its quarterly dividend per share to $1.06.

My net annual forward dividends would grow by $3.84 across my 24 shares of MO from such an announcement.

UPDATE: As expected, MO raised its quarterly dividend per share by 3.9% to $1.06. Across my 24 shares, my net annual forward dividends rose by $3.84.

Expected Dividend Increases for September 2025

Expected Dividend Increase #1: McDonald's (MCD)

The first raise that I'm anticipating for next month will be from McDonald's. I believe that MCD will declare a 5.6% increase in its quarterly dividend per share to $1.87.

Across my five shares of MCD, my net annual forward dividends would rise by $2 due to such a dividend declaration.

Expected Dividend Increase #2: Microsoft (MSFT)

The next dividend boost that I'm expecting for September 2025 will come from Microsoft. My best guess is that MSFT will announce a 10.8% hike in its quarterly dividend per share to $0.92.

My net annual forward dividends would jump by $3.96 across my 11 shares of MSFT from such a dividend announcement.

Expected Dividend Increase #3: Realty Income (O)

The third dividend bump that I'm predicting for next month will be from Realty Income. I believe that O will declare a 0.2% increase in the monthly dividend per share to $0.2695.

Across my 153 shares of O, my net annual forward dividends would grow by $0.918 due to such a dividend declaration.

Expected Dividend Increase #4: Philip Morris International (PM)

The next dividend raise that I'm anticipating for September 2025 will come from Philip Morris International. My best guess is that PM will announce a 4.5% raise in its quarterly dividend per share to $1.42.

My net annual forward dividends would climb by $3.92 across my 14 shares of PM from such a dividend announcement.

Expected Dividend Increase #5: VICI Properties (VICI)

The fifth payout increase that I'm expecting for next month will be from VICI Properties. I believe that VICI will declare a 4% raise in its quarterly dividend per share to $0.45.

Across my 106 shares of VICI, my net annual forward dividends would surge by $7.42 due to such a dividend declaration.

Expected Dividend Increase #6: Verizon Communications (VZ)

The final dividend bump that I'm predicting for September 2025 will come from Verizon Communications. My best guess is that VZ will announce a 1.8% increase in its quarterly dividend per share to $0.69.

My net annual forward dividends would edge $2.25 higher across my 45 shares of VZ from such a dividend announcement.

Concluding Thoughts:

My net annual forward dividends grew by $3.84 in August 2025. This would be like investing $128 at a 3% net dividend yield.

If my six raises for September play out as expected, my net annual forward dividends would rise by $20.468. That would be equivalent to investing $682.27 at a 3% yield.

Discussion:

How has your August been for dividend raises thus far? Are any still outstanding?

Did you receive any first-time dividend hikes this month?

Thank you for your readership and please feel free to comment below!

A Major Portfolio Milestone

As I'm writing this blog post on Friday, August 8th. The temperature here in Central Wisconsin is set to reach a high of 77 degrees Fahrenheit later. Not surprisingly, I plan on spending some time outside today.

Honing in on today's focus, my investments surpassed $200,000 last month. I'll briefly highlight the time that it took me to go from $100,000 in investments to $200,000. As I'll get into in a bit, I believe this demonstrates how much compounding starts to kick in after sticking with the dividend growth investing strategy for a while.

The Snowball Is Starting To Roll Down The Hill

Just like I noted in an August 2022 blog post, Charlie Munger couldn't have been more right with the following quote: "The first $100,000 is a b*tch, but you gotta do it."

That's because the vast majority of this amount is generated strictly from savings. Consider that I reached $100,000 in investments in March 2023 (this differs from my net worth milestone due to some liquid savings and my car that I own free and clear). That means starting from zero, it took about five and a half years to reach $100,000 in investments.

Reaching $200,000 in investments in late July 2025, it took a bit less than two and a half years.

Granted, the former did include a period in which I paid for my final two years of undergrad and saved up for my car. Plus, my earnings were lower over this period as I wasn't too established in my career. So, it's not a purely apples-to-apples comparison.

Still, it shows just how much compounding is beginning to work.

Concluding Thoughts:

What's really neat is that it was decades ago when Munger pointed this out in the quote above. Adjusting for inflation, I'm right around the point at which he says one can ease off the gas a little bit. I'm very grateful to be at this point in my life and hope to reach the next incremental $100,000 milestone in 2027.

Discussion:

Have you reached $200,000 in investments?

If so, when did you attain it? If not, do you have a timeline on when you expect to do so?

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

September 2025 Stock Watch List

As I'm writing this blog post, it's Saturday, August 2nd. The temperature here in Central Wisconsin is set to reach a high of 80 degrees Fahrenheit later today. Along with a sunny forecast, this is arguably perfect weather. Thus, I definitely plan on spending time outside today!

Now that I have completed the purchases that I highlighted in my August 2025 Stock Watch List blog post, I likely won't be committing any further fresh capital for the month. I may shuffle the portfolio around a bit with a minor capital reallocation. Anyway, with that being said, I'm going to be looking ahead to the stocks on my watch list for September 2025.

Stock #1: Amazon (AMZN)

Once again, Amazon is on my watch list for next month. I've added to my position seven times so far this year. Curious readers can find my investment thesis in my July 2025 Stock Watch List blog post.

The gist of my bullishness continues to rest on AMZN's strong positions in thriving industries like cloud computing, e-commerce, and digital advertising. The company beat analysts' expectations in Q2. Given capacity restraints and the sheer size of its cloud computing business, I thought the AWS results were solid. The advertising business posted solid results as well.

The midpoint of AMZN's Q3 operating income guidance came in below the consensus from analysts. However, the company does have a tendency to be conservative with guidance ($19.2 billion in Q2 was $1.7 billion above the top end of its guidance). That's why I'm not too worried about the lower-than-expected guidance.

AMZN's balance sheet remains an AA-rated fortress. At the current $215 share price (as of August 2nd, 2025),  the stock is also priced at a forward 12-month P/OCF ratio of 14.5. According to FAST Graphs, that's below the 10-year average P/OCF ratio of 23.8. Given the 19% annual OCF/share growth consensus through 2030, I believe a P/OCF ratio of 21 (a $310 fair value per share estimate) is reasonable. 

Overall, a 31% discount to my fair value estimate for one of the best businesses on the planet is what gives me such conviction to keep buying more AMZN.

Stock #2: ONEOK (OKE)

Next up on my watch list for September 2025 is ONEOK. Interested readers can peruse my investment thesis in my June Seeking Alpha article.

The takeaway is that OKE has a handful of projects that have been finished recently to drive near-term growth (the West Texas NGL Pipeline and Elk Creek NGL Pipeline expansions). Other longer term projects remain in progress and OKE also expects to fully realize hundreds of millions of dollars of annual synergies over the next few years from recent acquisitions.

OKE's balance sheet is investment-grade, too (BBB on a stable outlook from S&P). Shares are trading at a forward 12-month P/OCF ratio of 7.5 at the current $79 share price. For more context, that's below the 10-year average P/OCF ratio of 9.7 and my fair value estimate of 8.7 ($92 fair value per share estimate).

Stock #3: Union Pacific (UNP)

The third and final focus of my watch list for next month is Union Pacific. Readers can check out my investment thesis in my July 2025 Stock Watch List blog post linked above. Otherwise, my full analysis can be found in my June Seeking Alpha article.

Basically, railroads are some of my favorite long-term investments. That's because of the fact that they'll always be needed. As the economy grows and UNP becomes more efficient, this should drive solid diluted EPS growth over time. The company's potential merger with Norfolk Southern to form the country's first transcontinental railroad could come with additional growth opportunities and the potential for sizable synergies, too.

UNP's A-rated balance sheet is another plus. What's more, the stock is trading at a forward 12-month P/E ratio of 17.6 from the current $219 share price. This is below the 10-year average P/E ratio of 21.2, which is also my fair value P/E ratio ($264 fair value per share estimate).

Concluding Thoughts:

There we have it. In my view, AMZN, OKE, and UNP are three phenomenal businesses. As was the case in my July stock watch list, I'm leaning toward an approximately 40% weighting to AMZN. The remaining 60% of funds will be allocated pretty evenly between OKE and UNP.

Discussion:

Are any of AMZN, OKE, or UNP on your radar for September 2025?

If not, what stocks are you watching for next month?

I appreciate your readership and welcome your comments below!

July 2025 Dividend Income

As I'm writing this blog post, it's Friday, July 25th. The temperature here in Central Wisconsin is set to reach a high of 85 degrees Fahrenheit later today, with a partly sunny forecast. Thus, I'm definitely going to be spending time outside today.

Now that the month is nearly over, I'm going to be highlighting my net dividend income for July 2025. Without further ado, let's dive into it.

Net Dividends Were Nearly $270

In July 2025, I collected $268.61 in net dividends (net of GSK ADR fees). This works out to a 2.5% decrease in net dividends versus the $275.62 received in April 2025.

Against the $256.43 in net dividends that I collected in July 2024, this is equivalent to a 4.7% year-over-year growth rate. Stock sales of dividend payers in these months and redeployment into dividend payers in other months weighed on both my quarterly and year-over-year net dividend growth rates.

In my Charles Schwab account, I received $219.40 in net dividends from 20 companies. The account's dip in income can be entirely attributed to the trimming of 13 shares of Philip Morris International (PM) in April 2025.

I also collected $42.10 in net dividends from six companies in my Fidelity IRA portfolio. This was due to my addition to my Realty Income (O) position in May 2025 and my addition of Merck (MRK) to my IRA in June 2025.

Finally, in my Webull account, I received $7.11 in net dividends from two companies. This was unchanged from April 2025.

Concluding Thoughts:

My net dividends have climbed by nearly 25% year-over-year so far through July 2025. As the year progresses, I anticipate that my net dividend growth will remain in this range for 2025.

Discussion:

How was your dividend income during the month?

Did you collect any first-time dividends in July 2025?

Thanks for your readership and please leave your comments below!

July 2025 Stock Purchases/Sale

As I'm writing this blog post, it's currently Friday, July 18th. The temperature here in Central Wisconsin is anticipated to reach a high of 78 degrees Fahrenheit later today. As if that wasn't already ideal, it's also going to be sunny throughout the day. Needless to say, I plan on spending time outdoors today!

Now that I am likely done deploying capital for July 2025, it would be a good time to go over my stock purchases and my sale for the month. Let's dive into it!

Stock Purchase #1: Amazon (AMZN)

My first purchase in July 2025 was an additional three shares of Amazon at an average price per share of $219.34. Curious readers can read my investment thesis in my July 2025 Stock Watch List blog post or my May Seeking Alpha article.

Stock Purchase #2: Enterprise Products Partners (EPD)

The next stock that I purchased was another 25 units of Enterprise Products Partners at an average cost of $30.94 a unit. Interested readers can check out my investment thesis in my July 2025 Stock Watch List blog post linked above or my May Seeking Alpha article. This transaction added $53.50 to my net annual forward distributions, which equates to a 6.92% net distribution yield.

Stock Purchase #3: Union Pacific (UNP)

The third stock that I added was an additional three shares of Union Pacific at an average price per share of $231.10. Readers can peruse my July 2025 Stock Watch List blog post linked above or my June Seeking Alpha article. That upped my net annual forward dividends by $16.08, which is equivalent to a 2.32% net dividend yield.

Bonus Stock Purchase: Brookfield Asset Management (BAM)

I also purchased another share of Brookfield Asset Management at an average cost of $54.66 a share. Intrigued readers can find my investment thesis in my May 2025 Stock Watch List blog post or my June Seeking Alpha article co-produced with Brad Thomas. This transaction increased my net annual forward dividends by $1.75, which works out to a 3.20% net dividend yield.

Stock Sale: Broadcom (AVGO)

I sold 10 shares of my position in Broadcom (33.3% of my remaining stake) for an average price per share of $280.98. Overall, I'm still a big believer in the long-term prospects of this holding. For me, this was done for the purpose of rebalancing. That reduced my net annual forward dividends by $23.60.

Stock Purchase: Equinix (EQIX)

I purchased three shares of Equinix at an average cost of $761.16 a share. Interested readers can check out my recent Seeking Alpha listicle co-produced with Brad. This purchase lifted my net annual forward dividends by $56.28.

Concluding Thoughts:

In July 2025, I put $2,179.47 in fresh capital to work. Against the $71.33 in net annual forward dividends that were added, this is equivalent to a 3.27% net dividend yield. My capital redeployment also added $32.68 in net annual forward dividends.

Dividend increases received in July 2025 added $27.466 to my net annual forward dividends. This helped my net annual forward dividends to rise from roughly $6,035 to begin July to approximately $6,160 heading into August.

Discussion:

How was your capital deployment this month?

Did you/will you open any new positions in July 2025 as I did with EQIX?

I'm grateful for your readership and look forward to your comments below!

Expected Dividend Increase For August 2025

As I'm writing this blog post, it's Friday, July 11th. The temperature here in Central Wisconsin is set to reach a high of 82 degrees Fahrenheit later today, with thunderstorms expected into the evening.

After having received a few dividend raises for this month, I figured now would be a good time to start looking ahead. As the remaining payout boosts are announced, I'll update this blog post. I will also look ahead to the single dividend raise that I'm expecting for August 2025.

Actual Dividend Increases For July 2025

Distribution Increase #1: Enterprise Products Partners (EPD)

As predicted in my previous blog post of this series, Enterprise Products Partners declared a 1.9% increase in its quarterly distribution per unit to $0.545. My net annual forward dividends jumped $11 across my 275 units from this distribution declaration.

Dividend Increase #2: JPMorgan Chase (JPM)

JPMorgan Chase announced a 7.1% hike in its quarterly dividend per share to $1.50. Across my six shares of JPM, my net annual forward dividends grew by $2.40 due to this dividend announcement.

Dividend Increase #3: U.S. Bancorp (USB)

U.S. Bancorp declared a 4% increase in its quarterly dividend per share to $0.52. My net annual forward dividends edged $2.08 higher across my 26 shares of USB from this dividend declaration.

Dividend Increase #4: Wells Fargo (WFC)

As anticipated, Wells Fargo announced a 12.5% boost in its quarterly dividend per share to $0.45. Across my eight shares of WFC, my net annual forward dividends rose by $1.60 due to this dividend announcement.

Bonus Increase #1: Union Pacific (UNP)

Union Pacific declared a 3% increase in its quarterly dividend per share to $1.38. In 2026 and beyond, I believe UNP will return to high-single-digit annual dividend growth. As a result of this dividend announcement, my net annual forward dividends grew by $1.12 across my seven shares of UNP.

Bonus Increase #2: Essential Utilities (WTRG)

Essential Utilities upped its quarterly dividend per share by 5.3% to $0.3426. Across my 21 shares of WTRG, my net annual forward dividends grew by $1.436 due to this dividend declaration.

Pending Dividend Increase #1: Cummins (CMI)

Cummins hasn't yet announced its next dividend hike. However, I'm maintaining my forecast for a 7.1% increase in its quarterly dividend per share to $1.95. This would be a $2.60 increase in my net annual forward dividends across my five shares of CMI.

UPDATE: CMI upped its quarterly dividend per share by 9.9% to $2. My net annual forward dividends grew by $3.60 across my five shares from this dividend announcement.

Pending Dividend Increase #2: Duke Energy (DUK)

Duke Energy has yet to declare a dividend raise. I continue to expect a 4.3% bump in its quarterly dividend per share to $1.09.

My net annual forward dividends would edge $1.08 higher across my six shares of DUK from such a dividend announcement.

UPDATE: DUK increased its quarterly dividend per share by 1.9% to $1.065. As a result, my net annual forward dividends edged $0.48 higher across my six shares of DUK.

Pending Distribution Increase #3: Energy Transfer (ET)

Energy Transfer hasn't declared a distribution increase yet. However, I'm sticking with my projection of a 0.8% bump in the quarterly distribution per unit to $0.33.

My net annual forward distributions would grow by $2.07 across my 207 units of ET from such a distribution declaration.

UPDATE: As expected, ET upped its quarterly distribution per unit by 0.8% to $0.33. As a result, my net annual forward distributions grew by $2.07 across my 207 units of ET.

Pending Dividend Increase #4: NNN REIT (NNN)

NNN REIT has yet to announce a dividend increase. Yet, I'm standing by my prediction of a 2.6% raise in its quarterly dividend per share to $0.595.

Across my 18 shares of NNN, my net annual forward dividends would grow by $1.08 due to such a dividend announcement.

UPDATE: NNN raised its quarterly dividend per share by 3.4% to $0.60. This increased my net annual forward dividends by $1.44 across my 18 shares of NNN.

Pending Dividend Increase #5: J.M. Smucker (SJM)

J.M. Smucker hasn't yet declared a dividend increase. However, I believe that it will declare a 1.9% bump in its quarterly dividend per share to $1.10.

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

UPDATE: SJM declared a 1.9% increase in its quarterly dividend per share to $1.10. Across my three shares, my net annual forward dividends grew by $0.24.

Expected Dividend Increase For August 2025

Expected Dividend Increase: Altria Group (MO)

The one and only dividend increase that I'm expecting for August is a 3.9% raise from Altria Group in its quarterly dividend per share to $1.06.

Across my 24 shares of MO, my net annual forward dividends would rise by $3.84 due to such a dividend announcement.

Concluding Thoughts:

I received 11 dividend/distribution raises in July, which increased my net annual forward dividends by $27.466. This would be equivalent to investing $915.53 at a 3% net dividend yield.

If my raise for August pans out, my net annual forward dividends would grow by $3.84. That would be like investing $128 at a 3% dividend yield.

Discussion:

How has your month been for dividend raises so far?

Have you received any first-time payout boosts in your portfolio this month?

I appreciate your readership and welcome your comments below!

August 2025 Dividend Stock Watch List

As I'm writing this blog post, it's Friday, July 4th. The temperature here in Central Wisconsin is set to reach a high of 92 degrees Fahrenheit, with a sunny forecast.

With that aside, I have likely completed all of my stock purchases for July 2025. As a result, I'm going to be looking at a few stocks on my watch list for next month.

Dividend Stock #1: Alphabet (GOOGL)

First up on my watch list for August 2025 is Alphabet. I have added to my position in this stock multiple times this year and it's still sitting a bit below my 5% to 6% targeted weight. Those interested in my investment thesis can find it in my June 2025 Stock Watch List blog post and this Seeking Alpha article.

The gist of my thesis is that GOOGL has many avenues to drive future growth. These include Gemini, Google Cloud, and YouTube.

The company also announced its first dividend raise. A 5% increase in the quarterly dividend per share to $0.21 was less than I expected. Still, I believe this is the first of many very strong payout boosts to come for GOOGL. The 0.5% yield is modest but the payout ratio is sub-10%. GOOGL's AA+ credit rating from S&P on a stable outlook certainly helps, too. 

At the current $180 share price, the stock is trading at a forward 12-month P/E ratio of just above 18. That's much cheaper than the 10-year average P/E ratio of 24.9 per FAST Graphs and under my fair value estimate of $221 a share.

Dividend Stock #2: Realty Income (O)

Next up on my watch list for next month is Realty Income. Like GOOGL, I have also added to O several times so far in 2025. My weight is a bit off my 5% target. Curious readers can find my investment thesis in my May 2025 Stock Watch List blog post and my recent Seeking Alpha article.

Overall, I believe that the $14 trillion total addressable market in the United States and Europe provides O with a lengthy growth runway. The company is just scratching the surface in Europe, where competition is limited. I'm reasonably confident that this can drive average annual AFFO per share growth in the mid-single-digits over the long run, as has been the case for decades now.

O also benefits from being one of the few net lease REITs with an A-rated balance sheet, which is paramount to its low cost of capital and strong investment spreads. The 5.6% yield is also well-covered and should have room to keep growing.

Best of all, the stock is trading at a forward 12-month P/AFFO ratio of approximately 13 from the current $58 share price. That's leagues below the 10-year average P/E ratio of 18.3 per FAST Graphs and my $71 fair value estimate.

Dividend Stock #3: UnitedHealth Group (UNH)

Last but not least is UnitedHealth Group. I have purchased this twice so far this year. UNH is a smaller position in my portfolio at a 1.4% weight, so I have some room to bring this up to a 2% weight.

To be clear, the stock has had its share of headwinds in 2025. Medicare Advantage cost pressures. The earnings guidance cut in April and then a withdraw of 2025 guidance entirely. Not to mention the resignation of CEO Andrew Witty and the return of former CEO Stephen Helmsley.

Despite all these challenges, I remain a believer in the long-term future of this company. I'm convinced that UNH can return to its targeted 13% to 16% annual adjusted diluted EPS growth rate beyond 2025.

The balance sheet remains A-rated. The 2.8% dividend yield is quite secure and gives UNH a path to return to very robust dividend growth. 

From the current $309 share price, the stock is trading at a forward 12-month P/E ratio below 13. This is significantly below the 10-year average P/E ratio of 20.3 per FAST Graphs and my fair value estimate of $440 a share.

Concluding Thoughts:

There you have it. GOOGL, O, and UNH are three phenomenal businesses. Coincidentally, this is the same trio that was featured in my March 2025 Stock Watch List blog post. I plan on allocating nearly 40% of my capital to GOOGL, with the remainder being about evenly split between O and UNH.

Discussion:

Are any of GOOGL, O, or UNH on your watch list for next month?

If not, what stocks are on your radar for August 2025?

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

June 2025 Dividend Income

As I'm writing this blog post, it's currently Friday, June 27th. The temperature here in Central Wisconsin is set to reach a high of 79 degrees Fahrenheit later today with a sunny forecast. After many days of hot/humid and cloudy days, this is a welcome development.

Now that the month is just about complete, I will be briefly highlighting my net dividend income for June 2025.

Net Dividends Topped $600

In June 2025, I collected $615.38 in net dividends (including ADR fees for BAM in my taxable account). Against the $583.10 in net dividends that I received in March 2025, this equates to a quarterly growth rate of 5.5%.

Compared to the $520.75 in net dividends collected in June 2024, this works out to a year-over-year dividend growth rate of 18.2%.

In my Charles Schwab account, I received $364.67 in net dividends from 39 companies.

I collected $136.65 in net dividends from 14 companies in my Fidelity IRA portfolio.

In my other retirement account, I received $94.58 in net dividends from my Capital Income Builder mutual fund.

Finally, I collected $19.48 in net dividends from seven companies within my Webull account.

Concluding Thoughts:

I'm pleased that my portfolio's income is continuing to compound at a solidly double-digit annualized rate. By God's grace and the genius of American capitalism, I hope to continue on this progress.

Discussion:

How was your dividend income for June 2025?

Did you receive any first-time dividends during the month?

I appreciate your readership and please feel free to comment below!