Expected Dividend Increases for September 2026

As I'm writing this blog post, it's currently Monday August 17th, 2026. The temperature here in Central Wisconsin is set to reach a high of 82 degrees Fahrenheit later today. Along with a sunny forecast, that makes it a perfect day to spend some time outdoors!

With that said, I will be looking at my dividend announcement activity thus far in August 2026. As my remaining two raises that I'm anticipating are declared, I will update this blog post. I'll also be looking ahead to the payout hikes that I'm expecting for September 2026. Let's get into it!

Actual Dividend Increase for August 2026

Dividend Increase: Carlisle Companies (CSL)

Carlisle Companies announced a 13.6% boost in its quarterly dividend per share to $1.25. Talk about an emphatic way to become a Dividend King! In this series' prior blog post, I was only expecting a 9.1% raise to $1.20.

Across my 11 shares of CSL, my net annual forward dividends surged $6.60 due to this dividend announcement.

Pending Dividend Increase #1: Intuit (INTU)

Intuit has yet to declare its next quarterly dividend per share. But I'm standing by my expectation of a 15% hike in the quarterly dividend per share to $1.38.

My net annual forward dividends would jump $7.20 higher from such a dividend declaration across my 10 shares of INTU.

Pending Dividend Increase #2: Altria Group (MO)

Altria Group hasn't announced its next quarterly dividend per share yet. Still, I anticipate a 4.7% increase in its quarterly dividend per share to $1.11.

Across my 24 shares of MO, my net annual forward dividends would rise by $4.80 due to such a dividend announcement.

Expected Dividend Increases for September 2026

Expected Dividend Increase #1: Accenture plc (ACN)

The first dividend raise that I'm anticipating for September 2026 will come from Accenture plc. My best guess is that ACN will declare a 9.8% hike in its quarterly dividend per share to $1.79.

My net annual forward dividends would rise by $12.80 across my 20 shares of ACN from such a dividend declaration.

Expected Dividend Increase #2: Microsoft (MSFT)

The next dividend boost that I'm predicting for next month will be from Microsoft. I believe that MSFT will announce a 9.9% raise in its quarterly dividend per share to $1.00.

Across my 26 shares of MSFT, my net annual forward dividends would rise by $9.36 due to such a dividend announcement.

Expected Dividend Increase #3: Realty Income (O)

The third dividend bump that I'm expecting for September 2026 will come from Realty Income. My guess is that O will declare a 1.5% increase in its monthly dividend per share to $0.2750 (the REIT tends to announce four smaller increases each year and one larger increase).

My net annual forward dividends would grow by $7.248 across my 151 shares of O from such a dividend declaration.

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

The next dividend hike that I'm anticipating for next month will be from Philip Morris International. My best guess is that PM will announce an 8.2% raise in its quarterly dividend per share to $1.59.

Across my 18 shares of PM, my net annual forward dividends would climb $8.64 higher due to such a dividend announcement.

Expected Dividend Increase #5: VICI Properties (VICI)

The fifth dividend raise that I'm predicting for September 2026 will come from VICI Properties. I believe that VICI will declare a 3.9% increase in its quarterly dividend per share to $0.4675.

My net annual forward dividends would surge $12.60 higher across my 180 shares of VICI from such a dividend declaration.

Concluding Thoughts:

If my raises from INTU and MO pan out, my net annual forward dividends will have grown by $18.60 in August 2026. This would be equivalent to investing $620.00 at a 3% net dividend yield.

If my five dividend boosts in September 2026 play out as anticipated, my net annual forward dividends would rocket higher by $50.648. That would be like investing $1,688.27 at a 3% net dividend yield.

Discussion:

How is your August 2026 coming along for dividend boosts? Did you receive any first-time raises in your portfolio like I did with CSL?

Are you expecting any first-time dividend raises like I am with ACN?

Thanks for reading and please feel free to comment below!

September 2026 Stock Watch List

As I'm writing this blog post, it's currently Tuesday, August 11th. The temperature here in Central Wisconsin reached a high of 85 degrees Fahrenheit today, with a heat index of 89 degrees. So, I limited my time spent outside.

With August almost half in the books, I will be turning my attention to several of the picks at the top of my watch list for September 2026. Without further ado, let's dive into it!

Stock #1: Amazon.com, Inc. (AMZN)

The first stock on my watch list for September 2026 is Amazon.com. I'm running it back from my August 2026 Stock Watch List blog post.

The Q2 earnings report released on Jul. 30 reinforced my investment thesis. The key highlights included the strongest quarter of growth for AWS since Q4 2021 (when AWS grew by roughly 40% to a $71 billion run rate business). In Q2 2026, the segment's growth accelerated from 28% in Q1 2026 to 37% in Q2 2026 (bringing the annual run rate to $169 billion heading into Q3 2026). 

For more context, AWS barely grew 17% on a much smaller base in Q2 2025. This is the latest and most concrete proof that the outsized capex in recent years is paying off in spades.

Then, there's the fact that the AI and chips businesses each topped $25 billion (with triple digit percentage YOY growth rates). Only NVIDIA and Broadcom have bigger businesses.

North America and International sales growth was exceptionally strong as well, with both growing at mid-teens percentage clips in Q2 2026. Overall, the company's OCF per share growth is poised to exceed 25% annually over the next several years.

AMZN is a financial fortress, with an AA S&P credit rating and a stable outlook.

GNG Research

From the current $272 share price, the stock is priced at a forward 12-month P/OCF ratio of 13.5. This is well below the 10-year average P/OCF ratio of 23.5 and 29% below my $382 fair value per share estimate (a fair value P/OCF ratio of 19). That also represents a 20% discount to the $342 fair value per share estimate (a fair value P/OCF ratio of roughly 17) of my friends at GNG Research.

Stock #2: Hamilton Lane Incorporated (HLNE)

The next stock on my watch list for the month ahead is Hamilton Lane Incorporated. After recently having sold a couple of lower conviction holdings to open a 1%+ starter position, this is a newcomer to my watch list.

As of Jun. 30, 2026, the global private markets investments solutions provider serving mostly institutional investors had $1.06 trillion in assets under management/advisement. Of that amount, $914.1 billion was AUA. The remaining $146.3 billion was AUM.

As private wealth professionals boost their market market investments in 2026 and beyond, this is an undeniable tailwind for HLNE. That's why the FAST Graphs analyst consensus is for its non-GAAP EPS to compound by 10.4% annually through FY 2029, off a FY 2026 base of $5.90.

The company's interest coverage ratio to kick off FY 2027 wasn't far off of 500, which is a testament to its financial strength. HLNE's non-GAAP EPS payout ratio is also likely to be in the mid-30% range for FY 2027, which should provide it plenty of room to hand out 10%+ annual dividend hikes over the next few years (very attractive when paired with a 2.3% starting yield).

GNG Research

At the current $106 share price (in after hours trading), HLNE is trading at a forward 12-month P/E ratio of 14.5. That's far less than the nine-year average P/E ratio of 24 and 34% under my $161 fair value per share estimate (a fair value P/E ratio of 22). This is also 26% below the GNG Research fair value estimate of $143 per share (a fair value P/E ratio just above 19).

Stock #3: Mastercard Incorporated (MA)

The third stock on my watch list for September 2026 is Mastercard Incorporated. This is returning to the watch list for the first time since June 2026.

The company has ample growth drivers for the future. The biggest one is that the world is transitioning from cash to alternative payments. Mastercard's mix of the network effect and competent execution should power more growth in the credentials on its network (over 3.7 billion as of Jun. 30, 2026), gross dollar volumes, and switched transactions over the long term.

The digitalization of payment methods is also a complementary growth catalyst for Mastercard. This is because it raises the demand for its value-added services, such as fraud, identity, and cyber. That's why mid-teens percentage annual adjusted diluted EPS growth is likely over the next several years for Mastercard.

The company's A+ S&P credit rating also provides it with the low cost of capital to execute the occasional bolt-on acquisition that's complementary to the business. The 0.6% dividend yield is modest, but the payout ratio is likely to be in the high-teens percentage range for 2026.

GNG Research

From the current $565 share price (in after hours trading), Mastercard is priced at a forward 12-month P/E ratio of 25.8. This is meaningfully below the 10-year average P/E ratio of 34.3 and 14% under my $656 fair value per share estimate. Shares are even more undervalued versus the GNG Research fair value per share estimate of $672, a 16% discount to fair value.

Honorable Mentions: PepsiCo, Inc. (PEP) And Verizon Communications Inc. (VZ)

On the income side of the equation, I'm planning on buying more PepsiCo, Inc. and Verizon Communications Inc. In the case of the former, I laid out my case in this Seeking Alpha article. In short, I also believed VZ to be a decent value, having redeployed proceeds from my T. Rowe Price Group sale in July 2026 to it.

Concluding Thoughts:

That's all for now. Five quality businesses that I would like to add to in September 2026. Overall, I'm leaning toward a slight preference toward the growth-oriented names in terms of allocation. The more income-oriented names in the portfolio and the HLNE hybrid should keep me around the mid- to high-2% yield that I target.

Discussion:

Are any of AMZN, HLNE, MA, PEP, or VZ on your watch list for next month?

If not, what stocks are you watching for September 2026?

I appreciate your readership and welcome your comments below!

July 2026 Dividend Stock Purchases/Sales

As I'm writing this blog post, it's currently Tuesday, August 4th. The temperature here in Central Wisconsin reached a high of 81 degrees Fahrenheit earlier today, which was quite nice. Also of note, today is the 17th birthday of my family's cat, Thomas!

With that aside, the beginning of another month means it's time to highlight my dividend stock purchases/sales in July 2026. Let's dive into it!

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

I purchased another 24 shares of Brookfield Asset Management at an average cost of $48.98 a share. In my July 2026 Stock Watch List blog post, I outlined my investment thesis for BAM. This boosted my net annual forward dividends by $48.24, which equates to a 4.10% net dividend yield.

Dividend Stock Purchase #2: Genpact Limited (G)

My next purchase was 39 more shares of Genpact Limited at an average price per share of $29.48. Interested readers can find my investment thesis in my July 2026 Stock Watch List blog post linked earlier. That lifted my net annual forward dividends by $29.25, which is equivalent to a 2.54% net dividend yield.

Dividend Stock Purchase #3: McDonald's Corporation (MCD)

I also picked up another four shares of McDonald's Corporation at an average cost of $268.61 a share. Curious readers can peruse my investment thesis in my July 2026 Stock Watch List blog post. This raised my net annual forward dividends by $29.76, which works out to a 2.77% net dividend yield.

Dividend Stock Purchase #4: Microsoft Corporation (MSFT)

My next purchase was an additional two shares of Microsoft Corporation at an average price per share of $395.19. Readers can check out my investment thesis in my July 2026 Stock Watch List blog post. That increased my net annual forward dividends by $7.28, which equates to a 0.92% net dividend yield.

Dividend Stock Purchase #5: NVIDIA Corporation (NVDA)

I picked up another five shares of NVIDIA Corporation at an average cost of $208.13 a share. My investment thesis can again be found in my July 2026 Stock Watch List blog post. This move added another $5 to my net annual forward dividends, which is equivalent to a 0.48% net dividend yield.

Bonus Dividend Stock Purchase: Royal Gold, Inc. (RGLD)

My next purchase was an additional six shares of Royal Gold, Inc. at an average price per share of $192.77. Interested readers can find my investment thesis in this Seeking Alpha article co-produced with Treading Softly. Given that this increased my net annual forward dividends by $11.40, this works out to a 0.99% net dividend yield.

Dividend Stock Sales: Air Products & Chemicals (APD), Coca-Cola (KO), Rexford Industrial Realty (REXR), and T. Rowe Price Group (TROW)

I closed four positions in July 2026. I started the month by selling five shares of Air Products & Chemicals for an average price per share of $310.91. 

I also sold 30 shares of Rexford Industrial Realty for $34.06 apiece. 

Next, I closed out a 10 share position in Coca-Cola for $84.02 a share.

Finally, I sold six shares of T. Rowe Price Group for $120.17 a share.

Each of these sales were executed because of slow dividend growth, excessive valuations, or some combination of the two. These transactions reduced my net annual forward dividends by $140.80.

Dividend Stock Purchases: Accenture plc (ACN), Domino's Pizza, Inc. (DPZ), and Verizon Communications (VZ)

I rolled my proceeds from the APD and REXR sales plus an additional $250.11 into 20 starter shares of Accenture plc at an average cost per share of $141.32. Readers can find my investment thesis for ACN in my August 2026 Stock Watch List blog post.

I put my proceeds from my KO sale and an additional $984.04 into opening a six share starter position in Domino's Pizza, Inc. at an average price of $304.04 a share. Once again, the rationale for this move can be found in my August 2026 Stock Watch List blog post.

Lastly, I took my TROW sale proceeds and another $1.85 to add another 15 shares to my position in Verizon Communications at an average cost per share of $48.19. Overall, I thought this was a decent value for VZ.

In total, these moves added $220.61 to my net annual forward dividends.

Concluding Thoughts:

In July 2026, I deployed a record $7,623.01 in net capital. All of my wheeling and dealing added $210.74 to my net annual forward dividends, which equates to a 2.76% net dividend yield.

My net annual forward dividends also rose by $31.822 from 10 dividend raises in July 2026. These factors boosted my net annual forward dividends from around $7,770 to begin the month to about $8,010 heading into August 2026.

Discussion:

How was your capital deployment in July 2026?

Did you close any positions (as I did with APD, KO, REXR, and TROW) or open any new positions (as I did with ACN and DPZ) in the month?

Thanks for reading and please feel free to comment below!

July 2026 Dividend Income

As I'm writing this blog post, it's currently Monday, July 27th. The temperature here in Central Wisconsin reached 98 degrees Fahrenheit, with the heat index easily topping 100 degrees earlier today! As a result, I didn't really spend much time at all outside.

With that out of the way, I'll be going over my net dividend income for July 2026 now that the month is essentially over. Without further ado, let's jump into it!

Net Dividend Income Surpassed $350

In July 2026, I collected $359.31 in net dividends (including ADR fees for GSK). This was down 11.2% over the $404.84 in net dividends received in April 2026. Adjusting for the timing of dividend payments from Novo Nordisk and NVIDIA, my net dividends would have grown by 9.8%.

Against the $268.61 in net dividends collected in July 2025, that equates to a 33.8% year-over-year growth rate.

In my Charles Schwab account (and later taxable Robinhood account from a transfer), I received $262.16 in net dividends from 21 companies. As I alluded to earlier, the difference in company count and the decline in dividends versus April in this account was entirely attributed to the timing of dividend payments from NVO and NVDA.

I also collected $65.96 in net dividends from five companies in my Robinhood IRA portfolio.

Since opening Fidelity solo 401(k) in March and beginning funding in April 2026, I received my first dividends for the first month of a quarter in July 2026. These amounted to $23.60 from three companies (Automatic Data Processing, VICI Properties, and Intuit).

Lastly, I collected $7.59 in net dividends from two companies (Philip Morris International and Altria Group).

Concluding Thoughts:

When backing out the impact of timing of dividends from NVO and NVDA, my net dividend income was a new all-time high for the first month of a quarter. Through the first seven months of 2026, my net dividend income has jumped 27.6%. As I keep saving and investing as much as possible in the months to come, I believe that with God's providence, I can maintain a high-20% growth rate in dividend income in 2026.

Discussion:

How was your July 2026 for dividend income?

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

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

Expected Dividend Increases for August 2026

As I'm writing this blog post, it's currently Tuesday, July 21st. The temperature here in Central Wisconsin is set to reach a high of 75 degrees Fahrenheit later today, with a sunny forecast. In other words, the forecast is absolutely perfect. So, I plan on getting outside today after the recent hot stretch!

With that aside, I will be going over the dividend raises that I have received thus far in July 2026 (and updating the others as they are announced in the coming days). I'll also be looking ahead to the payout boosts that I'm anticipating next month. Let's dig into it!

Actual Dividend Increases for July 2026

Dividend Increase #1: Cummins (CMI)

Cummins declared a 10% hike in its quarterly dividend per share to $2.20. That beat my prediction of an 8% raise to $2.16 in this series' prior blog post.

My net annual forward dividends rose by $4 across my five shares of CMI due to this dividend declaration.

Dividend Increase #2: Duke Energy (DUK)

Duke Energy announced a 1.9% increase in its quarterly dividend per share to $1.085. This came in just below my forecast of a 2.3% increase in the quarterly dividend per share to $1.09.

Across my six shares of DUK, my net annual forward dividends edged $0.48 higher from this dividend announcement.

Distribution Increase #3: Enterprise Products Partners (EPD)

Enterprise Products Partners declared a 1.8% raise in its quarterly distribution per unit to $0.56. That was more than the 0.9% bump to $0.5550 that I was expecting.

My net annual forward distributions rose by $11 across my 275 units of EPD due to this distribution declaration.

Dividend Increase #4: JPMorgan Chase (JPM)

JPMorgan Chase announced a 10% boost in its quarterly dividend per share to $1.65. This was better than the 6.7% raise to $1.60 that I predicted.

Across my six shares of JPM, my net annual forward dividends grew by $3.60 from this dividend announcement.

Dividend Increase #5: NNN REIT (NNN)

NNN REIT declared a 3.3% raise in its quarterly dividend per share to $0.62, which was in line with my forecast.

My net annual forward dividends were lifted by $5.76 across my 72 shares of NNN due to this dividend declaration.

Dividend Increase #6: J.M. Smucker (SJM)

J.M. Smucker announced a 1.8% increase in its quarterly dividend per share to $1.12. This was less than the 2.7% raise to $1.13 that I was expecting.

Across my three shares of SJM, my net annual forward dividends inched $0.36 higher from this dividend announcement.

Dividend Increase #7: Wells Fargo (WFC)

Wells Fargo declared an 11.1% hike in its quarterly dividend per share to $0.50. That met my expectations.

My net annual forward dividends grew by $1.60 across my eight shares of WFC from this dividend announcement.

Pending Distribution Increase #1: Energy Transfer (ET)

Energy Transfer has yet to declare its next distribution. However, I continue to believe that ET will declare a 0.7% increase in its quarterly distribution per unit to $0.34.

My net annual forward distributions would increase by $2.07 across my 207 units due to such a distribution declaration.

UPDATE: As expected, ET declared a 0.7% bump in its quarterly distribution per unit to $0.34. Across my 207 units, this raised my net annual forward dividends by $2.07.

Pending Dividend Increase #2: Union Pacific (UNP)

Union Pacific hasn't yet announced its next dividend. Still, I'm maintaining my expectation for a 5.1% raise in the quarterly dividend per share to $1.45.

Across my nine shares of UNP, my net annual forward dividends would grow by $2.52 from such a dividend announcement.

UPDATE: UNP announced a 2.9% increase in its quarterly dividend per share to $1.42. Given the ongoing merger with Norfolk Southern, the conservatism makes sense. This increased my net annual forward dividends by $1.44 across my nine shares of UNP.

Pending Dividend Increase #3: Essential Utilities (WTRG)

Finally, Essential Utilities hasn't declared its next dividend, either. However, I'm sticking with my forecast of a 5.1% increase to $0.36.

My net annual forward dividends would edge $1.462 higher across my 21 shares due to such a dividend distribution.

UPDATE: WTRG declared a 5.3% increase in its quarterly dividend per share to $0.3606. Across my 21 shares of WTRG, that lifted my net annual forward dividends by $1.512.

Expected Dividend Increases for August 2026

Expected Dividend Increase #1: Carlisle Companies (CSL)

The first dividend boost that I'm expecting for August 2026 will come from Carlisle Companies. I believe that CSL will announce a 9.1% raise in its quarterly dividend per share to $1.20.

Across my 11 shares of CSL, my net annual forward dividends would grow by $4.40 from such a dividend announcement.

Expected Dividend Increase #2: Altria Group (MO)

The next dividend raise that I'm forecasting for next month will be from Altria Group. My best guess is that MO will declare a 4.7% increase in its quarterly dividend per share to $1.11.

My net annual forward dividends would rise by $4.80 across my 24 shares due to such a dividend declaration.

Expected Dividend Increase #3: Intuit (INTU)

The final dividend boost that I'm predicting for August 2026 will come from Intuit. My guess is that INTU will hike its quarterly dividend per share by 15% to $1.38.

Across my 10 shares of INTU, my net annual forward dividends would surge $7.20 higher from such a dividend announcement.

Concluding Thoughts:

My net annual forward dividends rose by $31.822 across 10 dividend raises in July 2026. That would be like investing $1,060.73 at a 3% net dividend yield.

If my three dividend hikes in August 2026 materialize, my net annual forward dividends would grow by $16.40. This would be equivalent to investing $546.67 at a 3% net dividend yield.

Discussion:

How was your July 2026 for dividend raises?

Are you expecting any first-time payout boosts in August as I am with CSL and INTU?

I appreciate your readership and welcome your comments below!

August 2026 Stock Watch List

As I'm writing this blog post, it's currently Tuesday, July 14th. The temperature here in Central Wisconsin is set to reach a high of 94 degrees Fahrenheit later today, with a heat index above 100 degrees! In fact, there's a heat advisory in place until tonight. Needless to say, I'll be drinking even more water than usual and spending much less time outside.

Now that August is only a couple of weeks away, I will be highlighting some of the picks on my watch list for next month. Let's jump into it!

Stock #1: Accenture plc (ACN)

The first stock on my watch list for August 2026 is Accenture plc. For my investment thesis, curious readers can peruse my recent listicle with Treading Softly on The Dividend Kings.

Basically, ACN takes care of the most important business functions for over 9,000 clients in 120 countries. These include finance/accounting, human resources, supply chains, and marketing/sales. Despite meaningful geopolitical disruptions, the mid single-digit percentage topline growth (+5.6% to $18.72 billion) in Q3 2026. ACN's adjusted EPS jumped 8.9% to $3.80 during the quarter.

The company's recent launch of Accenture Edge to target the $240 billion addressable market of middle-market companies ($300 million to $3 billion in annual revenue) is a significant growth opportunity. By offering ready-to-deploy solutions that package their large-enterprise expertise for smaller clients, this is poised to drive topline growth for years to come. 

Along with a $9 billion acquisition budget for FY 2026, ACN is insulating its business against AI automation of traditional consulting services. Aside from being supported by its free cash flows, the company also leverages an AA- S&P credit rating that provides a low cost of capital for acquisitions.

This is why I'm confident that the company can put up 6% to 7% annual adjusted EPS growth over the next several years.

ACN's 4.8% dividend yield is also well-covered. That's supported by an adjusted EPS payout ratio poised to be in the upper-40% range for FY 2026. This should allow for 8% to 10% annual dividend growth over the next few years, which is very compelling when mixed with ACN's generous starting income.

GNG Research

At the current $135 share price, shares are trading at a forward 12-month P/E ratio of just 9.3. This is a fraction of the FAST Graphs 10-year average P/E ratio of 25.7 and my fair value multiple of 20 (a $291 fair value per share estimate). That implies shares are priced at a 54% discount to my fair value estimate. When using the $347 fair value per share estimate of my friends over at GNG Research, the discount to fair value is an even more striking 61%.

Stock #2: Amazon.com, Inc. (AMZN)

The next stock on my watch list for next month is Amazon.com, Inc. Interested readers can find my investment thesis in a May Seeking Alpha article.

The gist is that AMZN sits at the intersection of numerous growth tailwinds, including a thriving e-commerce/Ads/subscription business, quickly growing AWS sales, and a soaring customer silicon business. 

Further e-commerce retail growth is going to be made possible by a combination of price competitiveness (the average prices of products offered on Amazon in Q1 2026 decreased versus Q1 2025), expansion of its massive selection (it added 600-plus new notable brands in Q1 2026), and leaning even more into convenience (perishable sales were up 40x year-over-year and Rufus agentic AI shopping assistant active users were up 115% while engagement was up nearly 400%).

AWS's backlog almost doubled over the year-ago period (+92.6%) to $364 billion (excluding a $100 billion deal with Anthropic in April) in Q1 2026. Sequentially, this was up 49.2% from Q4 2025.

And even though AMZN's chips business is mostly for AWS, the roughly $50 billion annual run rate would be the third biggest on the planet if it were its own business, trailing only NVIDIA and Broadcom. Of the portion sold to other customers, the annual run rate surpassed $20 billion in Q1 2026 (a triple-digit percentage year-over-year growth rate).

AMZN's balance sheet is also spectacular, with an AA S&P credit rating and a stable outlook. For these reasons, operating cash flow per share is forecasted to grow by 25%+ annually over the medium term.

At the current $247 share price, the stock is also trading at a forward 12-month P/OCF ratio of just 12.9. This is far below the FAST Graphs 10-year average P/OCF ratio of 23.5 and 36% under my $384 fair value per share estimate (a fair value P/OCF ratio of 20).

Stock #3: BlackRock, Inc. (BLK)

The third stock on my watch list for August 2026 is BlackRock, Inc. Readers can find my investment thesis in my April Seeking Alpha article.

Basically, BLK is fundamentally thriving. Robust market performance in its higher-fee public markets book and client demand for international iShares ETF exposure are driving fee expansion. Organic base fees grew 8% in Q1 2026, which was the highest first quarter growth in the past five years and seventh straight quarter over the 5% target.

As corporate profits continue to expand over time, this will also drive further assets under management/revenue/adjusted diluted EPS growth for BLK. The potential for alt-inclusive 401(k) options to begin launching in 2027 could represent a catalyst for the company in terms of significantly higher fees over time (even with relatively modest allocation to private alternatives in target-date funds).

That's why solidly double-digit percentage annual adjusted diluted EPS growth over the next few years is arguably the base case for BLK. The balance sheet is also a fortress, with an AA- S&P credit rating and a stable outlook. Combined with an adjusted diluted EPS payout ratio poised to be in the low-40% range in 2026, this makes the 2.2% dividend yield reasonably secure.

GNG Research

The stock is also a decent value. At the current $1,025 share price, BLK is priced at a forward 12-month P/E ratio of 17.5. That's less than the 10-year average P/E ratio of 20.7 and is 12% below my $1,169 fair value per share estimate (a fair value multiple of 20). Relative to the GNG Research fair value per share estimate of $1,253, the discount is even more pronounced at 18%.

Stock #4: Domino's Pizza, Inc. (DPZ)

The next stock on my watch list for next month is Domino's Pizza, Inc.

Having just added this position to my portfolio earlier this month, this one is a newcomer for me. I have observed DPZ for years and covered it several times in my time at The Motley Fool. A major positive to me is that 99% of the 22,000-plus Domino's stores are owned by independent franchisees. Since franchisees fund the capex for new store openings and day-to-day operations, the parent company maintains a very efficient, capital-light profile. 

This allows for corporate cash flow to be recycled into share buybacks, dividends, and into R&D for their digital-ordering ecosystem. That is what enabled DPZ to be one of the best long-term performers in the stock market up until the stock price's peak just a few years ago. As the franchise network grows, the supply chain volume of the dough and ingredients distribution business also grows, creating operating leverage.

While DPZ's growth has slowed down from the sky-high pandemic pace, it remains respectable. The FAST Graphs analyst consensus is for diluted EPS to compound at around 9% annually over the next few years. 

The interest coverage ratio leaves a bit to be desired at 5.3x in Q1 2026, but it was an improvement over 5x in Q1 2025. It's also worth noting that the capital-light business model affords it more flexibility than most companies in this regard.

DPZ's 2.6% dividend yield is arguably sustainable, too. The diluted EPS payout ratio is likely to register in the low-40% range in 2026. That should leave plenty of room for 10%+ annual dividend growth for the foreseeable future.

DPZ's valuation is also quite appealing. At the current $310 share price, the stock is trading at a forward 12-month P/E ratio of only 15.5. This is much lower than the FAST Graphs 10-year average P/E ratio of 30.3 and is 23% below my $401 fair value per share estimate (a fair value P/E ratio of 20).

Stock #5: NVIDIA Corporation (NVDA)

The fifth stock on my watch list for August 2026 is NVIDIA Corporation. This one has been no stranger to my watch list in 2026. As such, I would refer interested readers to my July 2026 Dividend Stock Watch List blog post for the sake of brevity.

GNG Research

Concluding Thoughts:

There you have it. Applying my currently planned allocations, my weighted average net dividend yield will be just above 2.1% (I'll add a small stake in an existing high-quality income stock to bump this up to 2.3% or 2.4%). Once again, I believe this basket of stocks provides a solid mix of market-beating income, exceptional value, and double-digit percentage blended earnings/OCF growth potential.

Discussion:

Are any of ACN, AMZN, BLK, DPZ, or NVDA on your watch list for August 2026?

If not, what stocks are you watching in the coming weeks?

Thanks for reading and please feel free to comment below!

June 2026 Dividend Stock Purchases/Sale

As I'm writing this blog post, it's currently Tuesday, July 7th, 2026. The temperature here in Central Wisconsin reached a high of 86 degrees Fahrenheit (with a heat index of 90) earlier today.

Now that the month of June is behind us, I will be taking a moment to briefly outline my dividend stock purchases and sale for the month. Let's dig into it!

Dividend Stock Purchase #1: American Water Works Company, Inc. (AWK)

I added another 10 shares of American Water Works at an average price per share of $122.47. In my June 2026 Stock Watch List blog post, I discussed my investment thesis for AWK. This added $35.80 to my portfolio's net annual forward dividends, which is equivalent to a 2.92% net dividend yield.

Dividend Stock Purchase #2: Mastercard Incorporated (MA)

My next purchase was two more shares of Mastercard at an average cost of $491.48 a share. Interested readers can once again reference my June 2026 Stock Watch List blog post for my investment thesis. The transaction increased my net annual forward dividends by $6.96, which equates to a 0.71% net dividend yield.

Dividend Stock Purchase #3: Main Street Capital Corporation (MAIN)

I boosted my position in Main Street Capital by 20 shares at an average price per share of $51.68. Originally, I was going to add to my position in MPLX LP. It ran up a bit too much for my liking, so I instead decided to add to MAIN. In my view, the BDC is basically a wonderful business trading just below value value from here. Along with modest NII per share growth, this should provide a path to low double-digit percentage annual total returns over the medium term. This lifted my net annual forward dividends by $87.60, which works out to an 8.48% net dividend yield.

Dividend Stock Purchase #4: Microsoft Corporation (MSFT)

My next purchase was three more shares of Microsoft at an average cost of $464.14 a share. Curious readers can peruse my investment thesis in my June 2026 Stock Watch List blog post linked earlier. The $10.92 increase in net annual forward dividends is equivalent to a 0.78% net dividend yield.

Dividend Stock Purchase #5: NVIDIA Corporation (NVDA)

I also increased my position in NVIDIA Corporation by another four shares at an average price per share of $220.62. Readers can pore over my thesis in the June 2026 Stock Watch List blog post linked earlier. This helped my net annual forward dividends to edge $4 higher, which equates to a 0.45% net dividend yield.

Stock Sale: FedEx Freight Holding Company Inc. (FDXF)

Upon receiving a couple of shares of FedEx Freight Holding Company Inc. upon completion of the spinoff from FedEx Corporation, I decided to ultimately part ways with this very small position at $165.83 apiece. Since FDXF doesn't pay a dividend, this move didn't reduce my net annual forward dividends.

Dividend Stock Purchase: Genpact Limited (G)

I redeployed the proceeds into another 12 shares of Genpact Limited at an average cost of $27.69 a share. Readers can find my thoughts in my May 2026 Stock Purchases/Sale blog post. This works out to a 2.71% net dividend yield.

Concluding Thoughts:

In June 2026, I deployed $5,622.07 in net capital (including $105.28 in net dividends from my CAIBX mutual fund holding in my former employer-sponsored account. Including the $9 increase from capital deployment, my net annual forwards rose by $154.28. That's equivalent to a 2.74% net dividend yield.

My net annual forward dividends grew by $3.478 from dividend announcements in June 2026 (not counting downward adjustments in ADR dividends due to currency translation). These variables lifted my net annual forward dividends from $7,620 heading into the month to roughly $7,770 moving into July 2026.

Discussion:

How was your capital deployment in June 2026?

Did you close any positions as I did with FDXF (or open any new positions) during the month?

I appreciate your readership and welcome your comments below!

June 2026 Dividend Income

As I'm writing this blog post, it's currently Tuesday, June 30th. The temperature here in Central Wisconsin hit a high of 92 degrees Fahrenheit and a heat index of 104 earlier today! Needless to say, I didn't spend much time at all outside today.

Now that the month is over, I'll briefly highlight my net dividend income for June 2026. Without further ado, let's dig into it!

Net Dividend Income Topped $750

In June 2026, I collected $750.91 in net dividends (including ADR fees for BAM). Sequentially, this was up 8.2% over the $694.11 in net dividends received in March 2026.

Against the $615.38 in net dividends collected in June 2025, this is equivalent to a 22% year-over-year growth rate.

In my taxable Robinhood account (formerly my Charles Schwab account), I received $427.06 from 37 companies. The lower company count versus March 2026 was specifically due to the sales of United Parcel Service (UPS) and Pinnacle West Capital (PNW) in February 2026, as well as the sale of Aflac (AFL) in May 2026.

In my Robinhood IRA portfolio, I collected $171.90 in net dividends from 16 companies. The extra company in the portfolio that paid a dividend here was Meta Platforms (META), which I added to the IRA back in February 2026.

I also received $105.28 in net dividends from my Capital Income Builder (CAIBX) mutual fund in a retirement account from my employer out of college. The higher share count led to a slight increase in my net dividends from this source.

In my Fidelity solo 401k account, I collected $25.73 in net dividends from six companies. Since this was just opened in April, all of the income from this account was new to me.

Finally, I received $20.94 from seven companies in my Webull portfolio.

Concluding Thoughts:

June 2026 represented another passive income milestone for the portfolio, with net dividend income surpassing $750 for the first time. Through the first six months of 2026, my net dividend income surged 27%. As I continue to aggressively save and invest in the months ahead, I believe that this net dividend income growth rate will slightly accelerate with the help of math and above all else, God's grace.

Discussion:

How was your June 2026 for dividend income?

Did you receive any first-time dividends as I did with Genpact Limited?

Thanks for reading and please feel free to comment below!

Scaling Passive Income: How I Grew My Forward Dividends by 60%+ in Two Years

As I'm writing this blog post, it's currently Tuesday, June 23rd. The temperature here in Central Wisconsin reached a high of 78 degrees Fahrenheit today, so I was eager to spend some time outside!

Digging into the topic of today, building wealth through dividend growth investing is often described as a slow, methodical process - a marathon rather than a sprint. The speed at which this engine fires is heavily influenced by strategy, discipline, and consistent capital allocation.

Looking back at my portfolio data from June 2024 to June 2026, I am pleased to share that I have achieved a significant acceleration in my passive income stream. Over this two-year window, my net annual forward dividends surged higher by 62.8%. More specifically, from June 2025 to June 2026 alone (the latter blog post will be out next week), I saw a 28.7% increase, with my projected annual income rising from $6,035 to $7,765.

Achieving this level of growth requires more than simply holding "blue-chip" stocks. It takes a focused strategy. Here is how I moved the needle.

1. Prioritizing Dividend Growth And Quality Over High Yield

One of the most common pitfalls for income investors is yield chasing. That's buying stocks with unsustainable, sky-high dividends (generally, anything coming close to a 10% yield isn't viable). By leaning even more into companies that retain the majority of their earnings and that have a demonstrated history of dividend growth, I haven't had a dividend cut since Medical Properties Trust slashed its dividend in August 2023.

In dividend investing, it's arguably just as important to not go backward as it is to receive generous payout raises. Along with my preference to balance income with capital appreciation, this informs why I constructed the underlying holdings in my portfolio to only pay out 45% of their expected earnings for 2026. The improved growth from this capital retention strategy gives my portfolio much better total return prospects than static high-yielders.

2. Aggressive Capital Deployment and Dividend Reinvestment

Of course, growth at this pace isn't possible through dividend hikes alone. Consistent capital injections are a must. During these two years, I consistently saved and invested anywhere from 50%+ to 70%+ of my after-tax income (typically at the very beginning of each month to automate my contributions). Since I have been investing for less than nine years now, my monthly capital contributions remain the driving force behind my compounding machine.

My capital velocity has especially picked up in recent months as my income has scaled more from my professional development. Along the way, I have also selectively reinvested my dividends back into whatever I viewed as the best opportunities at the time.

3. Sector Diversification

I have also been meticulous to not allow any one particular sector of my portfolio produce too much of my passive income. The energy sector (specifically midstream) is my biggest income contributor, contributing roughly one-quarter of my passive income. By diversifying more defensive holdings with tech-oriented dividend growers with my barbell strategy, I protected the portfolio against volatility.

This helped me to keep my cool through the selloffs over the last couple years without panic-selling, which kept mt capital working in the highest-quality companies the market has to offer.

Concluding Thoughts:

Reaching $7,765 in annual forward income has me knocking on the door of the biggest milestone for my portfolio yet: $10,000, which will mark the start of the journey from five figures to six figures. At my current pace, this is probably about a year away for me.

More important than the dollar amount, though, the portfolio is becoming self-sustaining. If one is looking to accelerate their own dividend growth, remember that the most important variables are the ones you control: your savings rate, your focus on companies that grow their payouts year in and year out, and reinvestment.

Discussion:

As you work toward your own passive income goals, what is the biggest controlled variable (e.g., savings rate or reinvestment) that has helped you maintain your momentum during market volatility?

I appreciate your readership and welcome your comments below!

Expected Dividend Increases for July 2026

As I'm writing this blog post, it's currently Tuesday, June 16th. The temperature here in Central Wisconsin is set to reach a high of 67 degrees Fahrenheit later today. That's quite cool for this time of the year, but I'll still take it!

Now that the month is more than half complete, now would be a good time to highlight the dividend raises that I received in June 2026. I'll also look ahead to the raises that I'm expecting for July 2026. Let's get into it!

Actual Dividend Increases for June 2026

Dividend Increase #1: Medtronic (MDT)

Medtronic announced a 1.4% increase in its quarterly dividend per share to $0.72. This was less than the 5.6% increase in the quarterly dividend that I was anticipating in this series' previous blog post.

Across my 13 shares of MDT, my net annual forward dividends grew by $0.52 from this dividend announcement.

Dividend Increase #2: Realty Income (O)

Realty Income declared a 0.2% bump in its monthly dividend per share to $0.2710. Since O hasn't yet elected to deliver its one bigger dividend raise for the year yet, this missed my expectation for a 1.7% raise to $0.2750.

My net annual forward dividends edged $0.918 higher across my 153 shares of O due to this dividend declaration.

Dividend Increase #3: UnitedHealth Group (UNH)

UnitedHealth Group announced a 5% raise in its quarterly dividend per share to $2.32. This was a bit below the 6.3% boost to $2.35 that I was predicting.

Across my 13 shares of UNH, my net annual forward dividends grew by $5.72 from this dividend announcement.

Dividend Adjustment: FedEx Corporation (FDX)

On an adjusted basis, FedEx raised its quarterly dividend per share by 4% to $1.22. On an absolute basis, this was lower than the prior quarterly dividend per share of $1.45. That's due to the recent spinoff of its freight business (FedEx Freight Holding Company). Overall, I do believe that this will unlock more value for shareholders. Along with the impact on my passive income being minimal, I don't mind this move.

My net annual forward dividends decreased by $3.68 due to the dividend adjustment across my four shares.

Expected Dividend Increases for July 2026

Expected Dividend Increase #1: Cummins (CMI)

The first payout boost that I'm expecting for July 2026 will be from Cummins. My best guess is that CMI will declare an 8% hike in its quarterly dividend per share to $2.16.

Across my five shares of CMI, my net annual forward dividends would grow by $3.20 from such a dividend declaration.

Expected Dividend Increase #2: Duke Energy (DUK)

The next dividend raise that I'm anticipating for next month will come from Duke Energy. I believe that DUK will announce a 2.5% increase in its quarterly dividend per share to $1.09.

My net annual forward dividends would edge higher by $0.60 across my six shares due to such a dividend announcement.

Expected Distribution Increase #3: Enterprise Products Partners (EPD)

The third distribution increase that I'm expecting for July 2026 will be from Enterprise Products Partners. My guess is that EPD will declare a 0.9% increase in its quarterly distribution per unit to $0.5550.

Across my 275 units of EPD, my net annual forward distributions would rise by $5.50 from such a distribution declaration.

Expected Distribution Increase #4: Energy Transfer (ET)

The next distribution bump that I'm predicting for next month will come from Energy Transfer. My best guess is that ET will announce a 0.7% increase in its quarterly distribution per unit to $0.34.

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

Expected Dividend Increase #5: JPMorgan Chase (JPM)

The fifth dividend raise that I'm anticipating for July 2026 will be from JPMorgan Chase. I believe that JPM will declare a 6.7% raise in its quarterly dividend per share to $1.60.

Across my six shares of JPM, my net annual forward dividends would rise by $2.40 from such a dividend declaration.

Expected Dividend Increase #6: NNN REIT (NNN)

The next dividend increase that I'm expecting for next month will come from NNN REIT. My guess is that NNN will announce a 3.3% bump in its quarterly dividend per share to $0.62.

My net annual forward dividends would jump $5.76 higher across my 72 shares due to such a dividend announcement.

Expected Dividend Increase #7: J.M. Smucker (SJM)

The seventh dividend raise that I'm predicting will be from J.M. Smucker. My best guess is that SJM will declare a 2.7% increase in its quarterly dividend per share to $1.13.

Across my three shares of SJM, my net annual forward dividends would inch $0.36 higher from such a dividend declaration.

Expected Dividend Increase #8: Union Pacific (UNP)

The next dividend increase that I'm anticipating will come from Union Pacific. I believe that UNP will announce a 5.1% raise in its quarterly dividend per share to $1.45.

My net annual forward dividends would rise by $2.52 across my nine shares of UNP due to such a dividend announcement.

Expected Dividend Increase #9: Wells Fargo (WFC)

The ninth dividend raise that I'm expecting will be from Wells Fargo. My guess is that WFC will declare an 11.1% hike in its quarterly dividend per share to $0.50.

Across my eight shares of WFC, my net annual forward dividends would grow by $1.60 from such a dividend declaration.

Expected Dividend Increase #10: Essential Utilities (WTRG)

The final dividend increase that I'm predicting will come from Essential Utilities. My best guess is that WTRG will announce a 5.1% raise in its quarterly dividend per share to $0.36.

My net annual forward dividends would edge higher by $1.462 across my 21 shares of WTRG due to such a dividend announcement.

Concluding Thoughts:

My net annual forward dividends grew by $3.478 in June 2026 (not counting downward adjustments in ADR dividends from a stronger USD as of late). This would be equivalent to investing $115.93 at a 3% net dividend yield.

If my 10 dividend raises that I'm expecting for July 2026 play out as anticipated, my net annual forward dividends would climb $25.472 higher. That would require investing $849.07 at a 3% net dividend yield to replicate.

Discussion:

How has your June 2026 been for dividend raises thus far?

Did you or do you expect to receive any first-time dividend hikes this month?

Thanks for reading and please feel free to comment below!

July 2026 Dividend Stock Watch List

As I'm writing this blog post, it's Tuesday, June 9th. The temperature here in Central Wisconsin reached a high of 84 degrees Fahrenheit earlier today with a sunny forecast, so I was glad to spend some time outside.

Now that my stock purchases are largely complete for June 2026, I will be looking ahead at the dividend stocks on my watch list for next month. Let's dive into it!

Dividend Stock #1: Brookfield Asset Management (BAM)

The first stock on my watch list for July 2026 is Brookfield Asset Management. Interested readers can check out my May 2026 Stock Watch List blog post or my recent Seeking Alpha article for my investment thesis.

The crux of my investment thesis is that BAM's $67 billion in fundraising leading up to its Q1 2026 earnings call shows that its secular-driven growth isn't slowing down. This is because more institutional and retail investors are increasing their allocation to alternative assets for their returns, low correlation with stock and bond markets, and portfolio diversification. That's driving the forecast for upper-teens percentage annual distributable EPS growth over the next several years.

The 4.3% dividend yield (from the current $47 share price) modestly exceeds the forecast for distributable EPS for 2026. However, the payout is reasonably protected by steady cash flows (87% of fee-bearing capital is long-term or permanent), capital-light business model, and $2.5 billion in corporate liquidity against no debt maturities until 2030 (and an A- S&P credit rating). This gives BAM the confidence that it can deliver 15%+ annual dividend growth.

Appraising the alternative asset manager as a yield vehicle with a growth kicker, shares are trading 18% below my updated fair value per share estimate of $57. This assumes a fair value yield of 3.5% for BAM, which is arguably reasonable even in an elevated rate environment. That's because, while it comes with risks, it offers the potential for significant passive income growth over time. In my opinion, the same simply can't be said about bonds.

Dividend Stock #2: Genpact Limited (G)

The next stock on my watch list for the month ahead is Genpact Limited. For the gist of my investment thesis, I would refer readers to my May 2026 Dividend Stock Purchases/Sales blog post.

Basically, G is an investment-grade IT services and solutions company that I believe can continue to compound its adjusted diluted EPS by around 10% annually. While generative AI fears have caused a sharp selloff in 2026 so far, the Advanced Technology Solutions segment (implementing AI for Fortune 500 businesses) is contradicting the concern that AI is going to replace its business. On the contrary, the ATS segment's net revenue soared 24.3% over the year-ago period in Q1 2026 (to now 27% of total net revenue). All the while, the core business held its own, reporting 1.4% growth in Q1 2026.

The 2.3% dividend yield is very safe, with the payout ratio set to be in the high-teens in 2026. That should power at least 10% annual dividend growth over the next several years.

At the current $33 share price, the stock is trading at a forward 12-month P/E ratio of just 7.7. No, that's not a typo. Yes, you read that right. This is less than half of the 10-year average FAST Graphs P/E ratio of 17.1 and the five-year average of 15.6.

GNG Research

Given G's intact growth prospects, I believe a reversion to 15x is a reasonable base case. That would imply shares are trading at a 49% discount to my $63 fair value per share estimate. Even applying the more conservative $53 fair value per share estimate from my friends over at GNG Research (by the way, anybody signing up with my link above receives 35% off every payment), shares are an undeniable value right now.

Dividend Stock #3: McDonald's Corporation (MCD)

The third stock on my watch list for July 2026 is none other than McDonald's Corporation.

As macro pressures have squeezed discretionary budgets, lower consumers have become especially selective. My investment thesis centers on MCD dominating the value wars and reclaiming traffic, with everyday menus priced under $3 alongside targeted promotions, such as the $4 Breakfast Meal Deal. Then, there's the fact that more than 95% of locations operate under franchised models (all but 2,027 of the nearly 45,700 systemwide restaurants). 

In essence, McDonald's is both a landlord (the greater of a base minimum rent or a percentage of gross sales generally around 8% to 10% is paid in rent) and a tollbooth-like franchisor (franchisees typically pay a royalty fee of 4% to 5% of gross monthly sales). When the cost of inputs like beef, potatoes, and labor go up, franchisees are typically forced to raise menu prices to protect unit economics. In turn, MCD takes its cut of these larger sales stemming from inflation right off the top.

That's why the FAST Graphs analyst consensus is for 8.1% annual non-GAAP diluted EPS through 2028, off a 2025 base of $12.20. MCD also enjoys a BBB+ S&P credit rating with a stable outlook.

The 2.6% dividend yield is also secure, with the payout ratio poised to be in the mid to high-50% range in 2026. That should enable decent dividend growth over the next few years.

GNG Research

From the current $282 share price, the stock is arguably somewhat undervalued, too. MCD is priced at a forward 12-month P/E ratio of 20.9. This is moderately below the 10-year average P/E ratio of 25.2 and  is 9% under my fair value per share estimate of $311 (a fair value P/E ratio of 23, which is almost a standard deviation less than the 10-year average). GNG Research is even more bullish, with a $349 fair value per share estimate.

Dividend Stock #4: Microsoft Corporation (MSFT)

The next stock on my watch list for the upcoming month is Microsoft Corporation. This one has been no stranger to the list in recent months, so I would encourage readers to check out my June 2026 Stock Watch List blog post for my investment thesis.

Essentially, MSFT has big growth catalysts with cloud computing, enterprise software, and AI. These secular tailwinds are why FAST Graphs anticipates upper teens percentage annual non-GAAP diluted EPS growth through FY 2028, off a FY 2025 base of $13.64.

MSFT is the only tech company in the world with a flawless AAA S&P credit rating with a stable outlook. The 0.9% dividend yield is modest. However, with the payout ratio likely to be in the low-20% range for FY 2026, there's plenty of room for 10%+ annual dividend growth to persist.

At the current $403 share price, the stock is trading at forward 12-month P/E ratio of 20.9. That's well below the 10-year average P/E ratio of 29 and 25% under my fair value per share estimate of $539 (a fair value P/E ratio of 28).

Dividend Stock #5: NVIDIA Corporation (NVDA)

The fifth stock on my watch list for July 2026 is NVIDIA Corporation. Just like MSFT, I'm running this one back.

This is because NVDA is a paradoxical example of a stock that doubles as a value stock (more on that in a second) and a growth stock. The continued AI infrastructure buildout around the world has the FAST Graphs analyst consensus for FY 2027 (ending in January 2027) non-GAAP diluted EPS soaring 86.4% to $8.89. In FY 2028, another 38.3% spike is anticipated to $12.29. For FY 2029, an additional 21.1% surge to $14.88 is the current consensus. So, that's the growth aspect of NVDA.

Not to mention that shares are trading at a forward 12-month P/E ratio of just 20.5. That's a fraction of the 10-year average P/E ratio of 44.3 and the 20-year average P/E ratio of 35.1! It's also cheaper than the S&P 500.

The balance sheet is also world-class, with an AA- S&P credit rating and a stable outlook. As if this wasn't enough, NVDA is also now a dividend growth stock after its whopping 2,400% hike in the quarterly dividend per share to $0.25 last month. All the while, the payout ratio is set to be roughly 9% in FY 2027. In other words, more strong dividend growth is likely on the way. That's why I'm excited about a seemingly small 0.5% yield.

GNG Research

Even my rather conservative fair value P/E ratio of 30 yields a fair value per share estimate of $303. That's up from my prior fair value estimate of $265 and is 32% below the current share price. GNG Research's potentially more base-case fair value of $355 would represent a staggering 42% discount to fair value.

Concluding Thoughts:

That's all for now. Based on my currently planned allocations to each, my yield will be around 2.2% (I'll probably add a small position in an existing qualitative high-yielder to juice this a bit further). This isn't the most impressive yield, but for my money, I think this is a fantastic basket of stocks that offers a bit of everything.

Discussion:

Are any of BAM, G, MCD, MSFT, or NVDA on your watch list for July 2026?

If not, what stocks are you monitoring in the month ahead?

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

May 2026 Dividend Income

As I'm writing this blog post, it's currently Tuesday, June 2nd. The temperature here in Central Wisconsin is set to reach a high of 81 degrees Fahrenheit today with a sunny forecast. So, I plan on spending some time outside for sure!

Now that May 2026 is complete, I figure it would be a fitting time to briefly highlight my dividend income for the month. Let's dive into it!

Net Dividend Income Surpassed $700

In May 2026, I collected $737.61 in net dividends (including ADR fees for British American Tobacco). This is equivalent to a 5.4% quarterly growth rate over the $699.63 in net dividends received in February 2026.

My net dividends collected in May 2026 were also 29.8% higher over the $568.35 in net dividends recorded in May 2025.

In my Charles Schwab account, I received $683.84 in net dividends from 18 companies. The lower company count was due to the sales of Bristol Myers Squibb and AT&T in February 2026. First-time distributions from Western Midstream (WES) and capital allocation in recent months powered my net dividends higher in this account.

My Robinhood IRA portfolio collected $36.57 in net dividends from four companies. This higher income was mostly fueled by my purchase of 23 shares of NNN REIT (NNN) in February 2026.

In my Webull account, I received $17.20 in net dividends from three companies.

Concluding Thoughts:

May 2026 represented the first time that the portfolio breached $700 in the middle month of a quarter. Through the first five months of 2026, my net dividends are up 28.3% versus the first five months of 2025. By God's grace, keeping the pedal to the medal with my high savings rate, stacking up dividend growth, and reinvesting dividends, I hope to keep this in the high-20% range in 2026.

Discussion:

How was your dividend income in May 2026?

Did you receive any first-time passive income as I did with WES in May 2026?

I appreciate your readership and welcome your comments below!

May 2026 Dividend Stock Purchases/Sales

As I'm writing this blog post, it's currently Tuesday, May 26th. The temperature here in Central Wisconsin is currently 88 degrees Fahrenheit, with the high set to reach 89 later today. The forecast is sunny as well, so it will be as important as ever to stay hydrated!

With the month of May almost complete, now is a great time for me to highlight my dividend stock purchases and sales for the month. Without further ado, let's jump into it!

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

I added another 22 shares of Brookfield Asset Management at an average cost of $47.89 per share. In my May 2026 Stock Watch List blog post, I provided my investment thesis for BAM. The $44.22 lift in net annual forward dividends equates to a 4.20% net dividend yield.

Dividend Stock Purchase #2: Carlisle Companies (CSL)

My next purchase was two more shares of Carlisle Companies at an average price per share of $356.11. Interested readers can find my investment thesis in my May 2026 Stock Watch List blog post linked above. The $8.80 in net annual forward dividends added is equivalent to a 1.24% net dividend yield.

Dividend Stock Purchase #3: Intuit (INTU)

I also added another three shares of Intuit at an average cost of $370.92 per share. Again, readers can check out my investment rationale in my May 2026 Stock Watch List blog post. The $14.40 increase in net annual forward dividends works out to be a 1.29% net dividend yield.

Dividend Stock Purchase #4: Mastercard (MA)

My next purchase was an additional share of Mastercard for $506.03. The $3.48 in net annual forward dividends added from this purchase equates to a 0.69% net dividend yield.

Dividend Stock Purchase #5: Meta Platforms (META)

I also added a share of Meta Platforms for $613.72. My investment thesis can be found in my May 2026 Stock Watch List blog post. The $2.10 increase in my net annual forward dividends is equivalent to a 0.34% net dividend yield.

Dividend Stock Purchase #6: NNN REIT (NNN)

My next purchase was another 31 shares of NNN REIT at an average price per share of $43.64. Curious readers can peruse my May 2026 Stock Watch List blog post for my investment thesis. The $74.40 boost in net annual forward dividends works out to be a 5.50% net dividend yield.

Dividend Stock Sales: Aflac (AFL) and Alliant Energy (LNT)

I also closed positions in Aflac (at a roughly 170% gain before dividends) and Alliant Energy (at a roughly 25% gain before dividends). To be clear, I think these are solid businesses. After years of phenomenal dividend raises from AFL, the most recent left a bit to be desired for me as business growth has slowed. Couple that with what I think is an elevated valuation, and I sold my 11 shares at $118.95 each. 

I like LNT, but the valuation looks a bit stretched to me here as well. Thus, I sold my 13 shares of LNT at $72.27 apiece.

These actions reduced my net annual forward dividends by $54.66.

Dividend Stock Purchase: Genpact Limited (G)

I took my proceeds and pitched in another $316.49 of cash accrued from dividends to purchase a 79 share starter position in Genpact Limited for $32.46 a share. In covering this for Sure Dividend over the years, it has been on my radar for a while. My rationale for the buy is that G is an investment-grade IT services and solutions company with 9% to 10% annual adjusted diluted EPS growth prospects. Yet, generative AI fears have led it to shed roughly one-third of its market value this year.

All the while, its Advanced Technology Solutions segment posted 24.3% net revenue growth (now 27% of total net revenue) in Q1 2026. The core business was stable, edging 1.4% higher in Q1 2026. In other words, instead of being replaced by AI, G's ATS segment is being paid by Fortune 500 enterprises to implement AI.

My entry point represents a forward 12-month P/E ratio of 7.7. For more context, that's less than half of the 10-year average P/E ratio of 17.1 and about half of my fair value P/E ratio of 15. Compared to the high single-digit percentage annual total return potential from AFL and LNT, G has a realistic path to 20%+ annual total returns. The dividend is also very secure, with a payout ratio in the high-teens, which should facilitate roughly 10% annual payout growth over the next several years.

This move added $59.25 to my net annual forward dividends.

Concluding Thoughts:

In May 2026, I deployed $5,667.47 in net capital. Including the $4.59 increase from capital deployment, my net annual forward dividends rose by $151.99 in May 2026. That equates to a 2.68% net dividend yield.

My net annual forward dividends rose by $80.12 from dividend raises as well. This took my net annual forward dividends from $7,385 at the start of this month to roughly $7,620 going into June 2026.

Discussion:

How was your capital deployment for May 2026?

Did you close any positions or open any new positions during the month?

Thanks for reading and please feel free to comment below!

Expected Dividend Increases for June 2026

As I'm writing this blog post, it's currently Saturday, May 16th. The temperature here in Central Wisconsin is already over 70 degrees Fahrenheit and expected to reach a high of 83 degrees later today. Better yet, the forecast is also sunny. Needless to say, I will be spending some time outside!

Now that the month is half over, I figured now would be a good time to discuss the dividend raises that I have received to date (I will update the others as they are declared). I will also be previewing the payout increases that I'm expecting in June 2026. Let's dig into it!

Actual Dividend Increases for May 2026

Dividend Increase #1: Main Street Capital Corporation (MAIN)

As I predicted in this series' previous blog post, Main Street Capital declared a 1.9% increase in its monthly dividend per share to $0.2650.

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

Dividend Increase #2: RTX Corporation (RTX)

RTX Corporation announced a 7.4% raise in its quarterly dividend per share to $0.73. This came in a bit below the 8.8% boost to $0.74 that I was anticipating.

My net annual forward dividends rose by $2.40 across my 12 shares of RTX from this dividend announcement.

Surprise Announcement: NVIDIA Corporation (NVDA)

In stunning fashion, NVIDIA showed the world how dividend growth is done. It declared a whopping 2,400% boost in the quarterly dividend per share from $0.01 to $0.25.

Across my 77 shares of NVDA, my net annual forward dividends soared by $73.92 due to this dividend declaration.

Pending Dividend Increase: Lowe's Companies (LOW)

Lowe's Companies has yet to declare its next dividend. So, I'm now pushing this back into June. I'm maintaining my forecast for a 4% raise in the quarterly dividend per share to $1.25.

Across my 10 shares of LOW, my net annual forward dividends would edge $2 higher due to such a dividend declaration.

UPDATE: As expected, LOW upped its quarterly dividend per share by 4% to $1.25. This raised my net annual forward dividends by $2.

Expected Dividend Increases for June 2026

Expected Dividend Increase #1: FedEx Corporation (FDX)

The first dividend hike that I'm expecting in June 2026 will be from FedEx Corporation. I believe that FDX will declare an 8.3% hike in its quarterly dividend per share to $1.57.

Across my four shares of FDX, my net annual forward dividends would rise by $1.92 due to such a dividend declaration.

Expected Dividend Increase #2: Realty Income Corporation (O)

The next dividend raise that I'm anticipating for next month will come from Realty Income Corporation. My best guess is that O will announce a 1.7% increase in its monthly dividend per share to $0.2750.

My net annual forward dividends would jump $8.262 across my 153 shares of O from such a dividend announcement.

Expected Dividend Increase #3 UnitedHealth Group Incorporated (UNH)

The third dividend boost that I'm predicting in June 2026 will be from UnitedHealth Group Incorporated. My guess is that UNH will declare a 6.3% raise in its quarterly dividend per share to $2.35.

Across my 13 shares of UNH, my net annual forward dividends would climb $7.28 higher due to such a dividend declaration.

Pending Dividend Increase: Medtronic plc (MDT)

Medtronic plc also hasn't announced its next dividend yet. I'm now pushing MDT back into June. However, I'm sticking with my projection of a 5.6% increase in the quarterly dividend per share to $0.75.

My net annual forward dividends would grow by $2.08 across my 13 shares of MDT from such a dividend announcement.

Concluding Thoughts:

My net annual forward dividends rose by $80.12 in May 2026. That would be equivalent to investing $2,670.67 at a 3% net dividend yield.

If my dividend boosts for June 2026 pan out, my net annual forward dividends would grow by $19.542. This would be like investing $651.40 at a 3% net dividend yield.

Discussion:

How has your May 2026 been for payout raises?

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

I appreciate your readership and welcome your comments below!

June 2026 Stock Watch List

As I'm writing this blog post, it's Monday, May 11th. The temperature here in Central Wisconsin is set to reach a high of 61 degrees Fahrenheit today, with a sunny forecast. That's a bit below what's typical for this time of the year, but I'll still take it.

Now that I have executed my stock purchases for May 2026, I will be looking ahead to next month by highlighting several stocks on my watch list. Let's jump into it!

Stock #1: American Water Works (AWK)

The first stock on my watch list for the next month is American Water Works. Readers can check out my most recent investment thesis in this February Seeking Alpha article.

The crux of my investment thesis centers on the $18 billion to $20 billion five-year capital spending plan for 2026 through 2030 (not counting capex from Essential Utilities). The company also had over 1.5 million customer connections in its pipeline that it can acquire to further enhance growth. This is expected to support 7% to 9% annual adjusted EPS growth for the foreseeable future. AWK also enjoys an A S&P credit rating with a stable outlook. The 2.8% dividend yield is also well-supported by underlying profits, which positions it for a high-50% payout ratio in 2026.

GNG Research

Capping off the buy case, the water utility looks to be a solid value. From the current $126 share price, the stock is priced at a forward 12-month P/E ratio of 20.1. This is well under the FAST Graphs 10-year average P/E ratio of 29.2 and 16% less than my $150 fair value per share estimate (a fair value multiple of 24). My friends over at GNG Research think the value is even more compelling, with a $176 fair value of their own.

Stock #2: Mastercard Incorporated (MA)

The next stock on my watch list for June 2026 is Mastercard Incorporated. Interested readers can peruse my investment thesis in this Dividend Kings listicle (if you're not subscribed to the service, it will be posted to Seeking Alpha under Treading Softly's account any day now).

The gist of our thesis is that MA is a leading payment processor alongside Visa. In the first quarter of 2026 alone, its payment network handled almost 44 billion switched transactions and $2.7 trillion in gross dollar volume. Recent business wins and the beauty of its business model (e.g., it benefits from inflation through higher gross dollar volumes) have us confident that MA can keep generating mid-teens percentage annual adjusted diluted EPS in the years ahead. The A+ S&P credit rating also gives it the flexibility to complete bolt-on acquisitions that further complement its business. MA's 0.7% dividend yield is very secure, with a payout ratio poised to be in the high-teens in 2026.

For its overall quality, the payment processor looks to be an intriguing value right now. At the current $501 share price, the stock is trading at a forward 12-month P/E ratio of 24.1. That's considerably below the 10-year average P/E ratio of 34.3 and represents a 22% discount to my $645 fair value per share estimate (a fair value P/E ratio of 31).

Stock #3: MPLX LP (MPLX)

The third stock on my watch list for next month is MPLX LP. Curious readers can find my thoughts in a February Seeking Alpha article that I co-produced for Treading Softly.

Basically, MPLX is steadily growing its volumes. The continued integration of Northwind's Delaware Basin assets into its network is another forward-looking catalyst, with the Titan Complex set to come online in Q4 2026. Adding in the BANGL Pipeline expansion (coming into service in Q4 2026 as well) and Harmon Creek III (expected in Q3 2026), this should lead to consistent mid to upper single-digit percentage annual adjusted EBITDA per unit growth beyond 20%+ growth in 2026. MPLX boasts a BBB S&P credit rating with a stable outlook as well. The partnership's 7.9% distribution yield is secure, too.

GNG Research

Units look to be a decent value right now. From the current $54 unit price, MPLX is priced at a forward 12-month P/EBITDA ratio of 7.2. That's moderately below the 13-year average P/E ratio of 8.4 and a 4% discount to my fair value per unit estimate of $57 (a fair value P/EBITDA ratio of 7.5).

Stock #4: Microsoft Corporation (MSFT)

The next stock on my watch list for June 2026 is Microsoft Corporation. Readers can pore over my investment thesis in my April 2026 Stock Watch List blog post (which is essentially unchanged with the recent release of the Q3 2026 earnings report).

The big picture is very promising, with the cloud computing and enterprise software markets set for robust growth in the coming years. That should power teens mid to upper teens percentage annual non-GAAP diluted EPS growth over the next several years. With the payout ratio set to be in the low-20% range in FY 2026, MSFT's 0.9% dividend yield is quite sustainable. What's more, the company's AAA S&P credit rating makes it the only tech company with a flawless credit rating from the agency.

At the current $412 share price, MSFT is trading at a forward 12-month P/E ratio of 21.7. This is far under the 10-year average P/E ratio of 29 and a 23% discount to my $532 fair value per share estimate (a fair value P/E ratio of 28).

Stock #5: NVIDIA Corporation (NVDA)

The final stock on my watch list for next month is NVIDIA Corporation. Once again, I would refer interested readers to my April 2026 Stock Watch List blog post linked above.

Basically, the 70%+ non-GAAP diluted EPS growth (to $8.12) forecasted for the current fiscal year is mind-blowing for NVDA's sheer size and scale. Beyond this fiscal year, the ongoing hyperscaler capex bonanza is expected to power firmly double-digit percentage growth over the next couple of years as well. The extent of NVDA's free cash flow and its AA- S&P credit rating are undeniable positives, too.

GNG Research

From the current $220 share price, NVDA is priced at a forward 12-month P/E ratio of 24.9. That's much less than the 10-year average P/E ratio of 44.3 and the 20-year average P/E ratio of 35.1. Even applying a significant margin of safety (a fair value P/E ratio of 30 and a fair value per share estimate of $265), NVDA is trading at a 17% discount to fair value. GNG Research's fair value is even higher at $295 (a fair value P/E ratio of just above 33), which I could certainly see as being reasonable.

Concluding Thoughts:

There we have it. I don't have my allocations down to science quite yet, but I'm likely going to push my income picks in AWK and MPLX to just above 40%, with the remaining allocation skewed a bit more toward MA and MSFT (to keep my weight in NVDA capped in the high single digits).

Discussion:

Are any of AWK, MA, MPLX, MSFT, or NVDA on your watch list for June 2026?

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

Thanks for reading and please feel free to comment below!