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!

April 2026 Stock Purchases

As I'm writing this blog post, it's currently Saturday, May 2nd. The temperature here in Central Wisconsin is going to reach a high of 62 degrees Fahrenheit later today with a partly sunny forecast. In other words, it's a somewhat ideal day for this time of the year (although I would gladly take at least another 10 degrees). Better yet, tomorrow is going to hit 72 degrees with a sunny forecast.

With that aside, I want to take a moment to highlight my stock purchases for April 2026. Let's dig into it!

Stock Purchase #1: Automatic Data Processing (ADP)

I purchased another four shares of Automatic Data Processing at an average cost of $203 per share. In my April 2026 Stock Watch List blog post, I outlined my investment thesis for ADP. The $27.20 boost in net annual forward dividends works out to a 3.35% net dividend yield.

Stock Purchase #2: Microsoft (MSFT)

My next stock purchase was an additional three shares of Microsoft at an average price per share of $373.26. Once again, readers can check out my investment thesis in my April 2026 Stock Watch List blog post linked above. This transaction lifted my net annual forward dividends by $10.92, which equates to a 0.98% net dividend yield.

Stock Purchase #3: NVIDIA (NVDA)

I also picked up another five shares of NVIDIA at an average cost of $175 per share. Curious readers can find my investment thesis in my April 2026 Stock Watch List blog post. The $0.20 increase in my net annual forward dividends is equivalent to a 0.02% net dividend yield.

Stock Purchase #4: UnitedHealth Group (UNH)

My fourth stock purchase was an additional three shares of UnitedHealth Group at an average price per share of $273.25. Interested readers can peruse my investment thesis in my April 2026 Stock Watch List blog post. The resulting $26.52 rise in net annual forward dividends works out to a 3.24% net dividend yield.

Stock Purchase #5: VICI Properties (VICI)

My final stock purchase was another 35 shares of VICI Properties at an average cost of $27.31. Readers can view my thoughts on VICI in my April 2026 Stock Watch List blog post. The $63 in net annual forward dividends equates to a 6.59% net dividend yield.

Concluding Thoughts:

In April 2026, I deployed $4,582.54 in net capital. This led my net annual forward dividends to jump by $127.84, which is equivalent to a 2.79% net dividend yield.

My net annual forward dividends also rose by $7.15 from the dividend raises that I received in April 2026. This is how my net annual forward dividends climbed from around $7,235 at the start of the month to around $7,385 heading into May 2026 (including modest upward adjustments in net annual forward dividends from my ADR holdings).

Discussion:

How was your April 2026 for capital deployment?

Did you start any new positions or exit any positions in the month?

I appreciate your readership and welcome your comments below!

April 2026 Dividend Income

As I'm writing this blog post, it's currently Monday, April 27th. The temperature here in Central Wisconsin is expected to reach a high of 60 degrees Fahrenheit today, with some showers in the forecast. Overall, this is about what you'd expect for late April.

With that aside, the April 2026 is essentially complete. That's why I'll be taking a moment to highlight my net dividend income for the month. Without further ado, let's dive into it!

Net Dividend Income Topped $400

In April 2026, I received $404.84 in net dividends (including withholdings/ADR fees for Novo Nordisk and ADR fees for GSK). That's up 33.9% over the $302.24 in net dividends collected in January 2026. Backing out the timing of dividend payments from NVO (there were also timing differences for PepsiCo, Coca-Cola, and JPMorgan Chase) but these didn't move the needle as much), my net dividends would have grown by 8.5%.

Compared to the $275.62 in net dividends received in April 2025, my net dividends posted a 46.9% year-over-year growth rate.

In my Charles Schwab portfolio, I collected $334.03 in net dividends from 23 companies during the month (these included KO, NVO, INTU, VSNT, and JPM). The timing of NVO's dividend payment was the primary driver of this higher income, as well as February 2026 stock purchases.

I also received $63.22 in net dividends from six companies in my Robinhood IRA account. Higher dividends from Automatic Data Processing and VICI Properties stemming mostly from January 2026 and February 2026 stock purchases were to credit for this higher dividend income.

Finally, I collected $7.59 in net dividends from two companies (Philip Morris International and Altria Group) within my Webull portfolio. That was unchanged from January.

Concluding Thoughts:

April 2026 marked the first time that I exceeded $400 in net dividends in the first month of a quarter. In the first four months of 2026, my net dividends rose by 27.8% versus this time in 2025. God willing, I hope to keep up a similar rate of dividend compounding throughout the year.

Discussion:

How was your April 2026 for dividend income?

Did you receive any semi-annual dividend payments like I did with NVO during the month?

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

May 2026 Stock Watch List

As I'm writing this blog post, it's currently Monday, April 20th. I just turned 29 years old this past Wednesday! On an unrelated note, the weather here in Central Wisconsin is about what you'd expect for this time of the year. The temperature is going to get up to 55 degrees Fahrenheit today.

With my stock purchases complete for April 2026, I'm going to be highlighting several stocks on my watch list for the upcoming month. Without further ado, let's dig into it!

Stock #1: Amazon.com (AMZN)

The first stock on my watch list for the next month is Amazon.com. This was also featured in my March 2026 Stock Watch List blog post. Readers can check out my full investment thesis in this Seeking Alpha article.

The gist of my investment thesis remains unchanged. AWS growth of 24% was the strongest growth since 2022, which offers compelling proof that its 2025 capex paid off. This also was the basis for AMZN releasing a $200 billion forecast for 2026 capex. The growth trifecta of cloud computing, e-commerce retail, and digital advertising remains in place. This should power consistent annual operating cash flow per share growth of around 20% for the foreseeable future. The company also boasts an AA S&P credit rating.

GNG Research

At the current $255 share price, the stock is trading at a forward 12-month P/OCF ratio of only 14.1. That's far below the FAST Graphs 10-year average P/OCF ratio of 23.5 and 30% under my fair value per share estimate of $362 (a fair value P/OCF ratio of 20). My friends over at GNG Research are much more conservative with their $275 fair value per share estimate. At any rate, AMZN looks to be a an intriguing long-term buy right now.

Stock #2: Brookfield Asset Management (BAM)

The next stock on my watch list for May 2026 is Brookfield Asset Management. After not being on my watch list since January 2026, BAM has made a return to my watch list. Readers can also peruse my investment thesis in this Seeking Alpha article.

As was the case last time, BAM is an industry leader in an alternative asset management industry with a strong long-term growth runway ahead. The company also had roughly $3 billion of corporate liquidity to close out 2025. BAM's 4.1% dividend yield is supported by its liquidity, capital-light business model, and predictable cash flows (87% of fee-bearing capital is long-term or permanent), which backs up its A- S&P credit rating. This is why BAM believes it can compound the payout by 15%+ annually. From the current $49 share price, the stock is trading at a 20% discount to my $62 fair value per share estimate (assuming a fair value yield of 3.25%).

Stock #3: Carlisle Companies (CSL)

The third stock on my watch list for next month is Carlisle Companies. This is the first time CSL has been on my watch list in a while, with it last being featured in my November 2025 Stock Watch List blog post. Curious readers can find my latest investment thesis in this recent Seeking Alpha article co-produced with Treading Softly.

Basically, aging U.S. commercial roofs and more stringent energy standards are key long-term catalysts. That gives me the confidence that CSL can reach its $40 adjusted EPS target by 2030. The company's net debt to EBITDA ratio was 1.4x to close out 2025. As of December 31st, 2025, CSL also had $2.1 billion in liquidity. This provides it with the dry powder needed for bolt-on acquisitions to drive further growth.

GNG Research

At the current $363 share price, the stock is trading at a forward 12-month P/E ratio of 17.1. That's moderately less than the FAST Graphs 10-year average P/E ratio of 19.5 and 8% below my $394 fair value per share estimate (a fair value P/E ratio of 18.5). GNG Research has fair value even higher at roughly $421 a share.

Stock #4: Intuit (INTU)

The next stock on my watch list for May 2026 is Intuit. Just like AMZN, this was last on my watch list in March 2026. My full investment thesis can be found in this Seeking Alpha article co-produced with Treading Softly.

The crux of my investment thesis is that INTU topped analysts' expectations for revenue and non-GAAP diluted EPS in Q2 2026. The continued implementation of AI into the business and these results gave management the confidence to reiterate revenue growth guidance (12% to 13%) and non-GAAP diluted EPS growth guidance (14% to 15%) for FY 2026. INTU also enjoys an A S&P credit rating with a stable outlook.

GNG Research

What's more, the stock is priced at a forward 12-month P/E ratio of 15.9 at the current $405 share price. This is less than half of the FAST Graphs 10-year average P/E ratio of 37.6 and 36% below my fair value per share estimate of $637 (a fair value P/E ratio of 25). This jives with GNG Research's $616 fair value per share estimate as well.

Stock #5: NNN REIT (NNN)

The fifth stock on my watch list for next month is NNN REIT. I last added to my position in NNN in February 2026. Readers can find my most recent investment thesis in my recent Seeking Alpha article.

The gist of my investment thesis is that NNN's continued investment volume and annual lease escalators should keep delivering 3% annual FFO per share growth in the years ahead. The BBB+ S&P credit rating is another positive.

Finally, from the current $45 share price, the stock is trading at a forward 12-month P/FFO ratio of 12.7. That's well below the 10-year average P/FFO ratio of 16.2 and 12% less than my $51 fair value per share estimate (a fair value P/FFO ratio of 14.5).

Concluding Thoughts:

That's all for now. I'll be allocating 25% of my capital to NNN and the remaining 75% to my growth-oriented picks. For my investment objectives, this strikes a nice balance between immediate income (keeping my yield on capital deployed in the high-2% range) and capital appreciation.

Discussion:

Are any of AMZN, BAM, CSL, INTU, or NNN on your watch list for next month?

If not, what stocks are you watching in May 2026?

I appreciate your readership and welcome your comments below!

Expected Dividend Increases for May 2026

As I'm writing this blog post, it's currently Tuesday, April 14th. The temperature here in Central Wisconsin is going to reach a high of 72 degrees Fahrenheit later today, with thunderstorms in the forecast this afternoon.

Today, I'm going to be taking a moment to go over the dividend raise that I have received thus far in April 2026 (I'll update the others as they are announced). Also, I'll be looking ahead to dividend raises that I'm anticipating for next month. Without further ado, let's dive into it!

Actual Dividend Increases for April 2026

Dividend Increase: Agree Realty (ADC)

Agree Realty announce a 1.9% increase in its monthly dividend per share to $0.267. This was just below my expectation of a 2.3% raise to $0.268. Still, I'll gladly take it!

Across my 20 shares of ADC, my net annual forward dividends grew by $1.20 due to this dividend announcement.

Pending Dividend Increase #1: American Water Works (AWK)

American Water Works hasn't declared its next dividend. Still, I predict that a 7.6% boost in the payout per share to $0.89 is in the works.

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

UPDATE: AWK declared an 8.2% raise in its quarterly dividend per share to $0.895. This lifted my net annual forward dividends by $2.16 across my eight shares.

Pending Distribution Increase #2: Energy Transfer (ET)

Energy Transfer has yet to announce its next distribution. Even so, I'm maintaining my projection of a 0.7% increase in the quarterly distribution per unit to $0.3375.

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

UPDATE: As expected, ET upped its quarterly distribution per unit by 0.7% to $0.3375. That raised my net annual forward distributions by $2.07 across my 207 units.

Pending Dividend Increase #3: Alphabet (GOOGL)

Alphabet hasn't raised its dividend yet either. I continue to think that it will declare a 4.8% bump in its quarterly dividend per share to $0.22.

My net annual forward dividends would rise by $1.72 across my 43 shares of GOOGL from such a dividend declaration.

UPDATE: As I predicted, GOOGL increased its quarterly dividend per share by 4.8% to $0.22. Across my 43 shares, this raised my net annual forward dividends by $1.72.

Expected Dividend Increases for May 2026

Expected Dividend Increase #1: Lowe's Companies (LOW)

The first dividend raise that I'm anticipating for May 2026 will come from Lowe's Companies. I believe that LOW will announce a 4% increase in its quarterly dividend per share to $1.25.

Across my 10 shares of LOW, my net annual forward dividends would grow by $2 due to such a dividend announcement.

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

The next dividend increase that I'm predicting for next month will be from Main Street Capital. My guess is that MAIN will declare a 1.9% increase in its monthly dividend per share to $0.2650.

My net annual forward dividends would rise by $1.80 across my 30 shares from such a dividend declaration.

Expected Dividend Increase #3: Medtronic (MDT)

The third dividend raise that I'm projecting for May 2026 will come from Medtronic. My best guess is that MDT will announce a 5.6% increase in its quarterly dividend per share to $0.75.

Across my 13 shares of MDT, my net annual forward dividends would grow by $2.08 due to such a dividend announcement.

Expected Dividend Increase #4: RTX Corporation (RTX)

The final dividend boost that I'm anticipating for next month will be from RTX Corporation. I believe that RTX will declare an 8.8% raise in its quarterly dividend per share to $0.74.

My net annual forward dividends would rise by $2.88 across my 12 shares of RTX from such a dividend declaration.

Concluding Thoughts:

My net annual forward dividends grew by $7.15 in April 2026. This would be like investing $238.33 at a 3% net dividend yield.

If my expected dividend increases for May 2026 materialize, my net dividends would grow by $8.76. This would be equivalent to investing $292 at a 3% yield.

Discussion:

How has your April 2026 been for payout increases?

Did you receive any first-time dividend raises in the month?

Thanks for your readership and please feel free to leave your comments below!

March 2026 Stock Purchases

As I'm writing this blog post, it's Saturday, April 4th. It's Easter weekend, but it doesn't feel like it here in Central Wisconsin. The high temperature is set to reach just 42 degrees Fahrenheit today (10+ degrees below the average for this time of year). At any rate, I'm still thrilled that it's Easter weekend.

With that aside, I will be highlighting my stock purchases in March 2026. Let's get into it!

Stock Purchase #1: Automatic Data Processing (ADP)

The first stock purchase that I completed in March 2026 was an additional three shares of Automatic Data Processing at an average price per share of $215.71. In my March 2026 Stock Watch List blog post, I laid out the rationale for why I've been adding ADP lately. The $20.40 boost in my net annual forward dividends is equivalent to a 3.15% net dividend yield.

Stock Purchase #2: Amazon.com (AMZN)

I also purchased another four shares of Amazon.com last month at an average cost of $203.92 per share. Readers can peruse my March 2026 Stock Watch List blog post linked above for my investment thesis.

Stock Purchase #3: Microsoft (MSFT)

The third stock purchase that I executed in March 2026 was an additional two shares of Microsoft at an average price per share of $396.17. Curious readers can find my investment thesis in my March 2026 Stock Watch List blog post linked earlier. The $7.28 in net annual forward dividends added from this transaction works out to a 0.92% dividend yield.

Stock Purchase #4: Western Midstream Partners (WES)

I also added another 22 units of Western Midstream Partners at an average cost of $41.49 a unit. Once again, I outlined my investment thesis in the March 2026 Stock Watch List blog post earlier. That lifted my net annual forward distributions by $81.84, which equates to an 8.97% net distribution yield.

Stock Purchase #5: VICI Properties (VICI)

The fifth stock purchase that I executed in March 2026 was three more shares of VICI Properties at an average price of $27.05 per share. I would refer interested readers to my April 2026 Stock Watch List blog post for my investment thesis for the net lease REIT. This added $5.40 to my net annual forward dividends, which is equivalent to a 6.65% net dividend yield.

Bonus Stock Purchase #1: Broadcom (AVGO)

I also picked up another three shares of Broadcom at an average cost per share of $315.38. I won't dive too deeply into it, but I'm basically very encouraged by AVGO's immense compounding potential (66%, ~60%, and ~22% non-GAAP EPS consensus growth projections for FY 2026 through FY 2028), the reasonable valuation of its shares (the forward 12-month P/E ratio is currently around 22x), an A-rated balance sheet, and a dividend with room to keep compounding at a double-digit percentage rate annually. That raised my net annual forward dividends by $7.80, which works out to a 0.82% net dividend yield.

Bonus Stock Purchase #2: BlackRock (BLK)

Finally, I purchased one share of BlackRock at a price of $937.97. Readers can find my most recent investment thesis in a Seeking Alpha article co-produced with Treading Softly. Essentially, I believe the string of private markets acquisitions will be instrumental in improving the company's adjusted operating margin. That would especially be the case if the trillions of dollars in retirement accounts were allowed to be modestly allocated to private equity/credit. BLK's AA- S&P credit rating makes it a juggernaut with a low cost of capital that can scoop up complementary assets. The recent double-digit percentage dividend hike and manageable payout ratio are additional positives. Finally, shares are also cheap relative to my fair value estimate above $1,100. This move added $22.72 to my net annual forward dividends, which equates to a 2.42% net dividend yield.

Concluding Thoughts:

In March 2026, I put $5,237.83 in net capital to work (including CAIBX mutual fund dividend reinvestment in my former employer-sponsored retirement account). My net annual forward dividends grew by $148.642 from capital deployment, which is equivalent to a 2.84% weighted-average net dividend yield.

In addition, my net annual forward dividends rose by $9.238 from the dividend raises that I received in March 2026. That's how my net annual forward dividends jumped from around $7,090 entering the month to nearly $7,235 at the end of the month (including modest downward adjustments in ADR net annual forward dividends, including Enbridge, British American Tobacco, Novo Nordisk, and GSK).

Discussion:

How was your March 2026 for capital deployment?

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

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

March 2026 Dividend Income

As I'm writing this blog, it's Saturday, March 28th. The high temperature is set to reach 45 degrees Fahrenheit here in Central Wisconsin, which is about what one would expect for this time of the year.

Since the month is almost complete, I will take a moment to highlight my net dividend income for March 2026. Let's get into it!

Net Income Was Almost $700

In March 2026, I received $694.11 in net dividends (including ADR fees for BAM in my taxable accounts). Sequentially, this is down 2% over the $708.24 in net dividends collected in December 2025. Backing out $85.67 in net special dividends in December (after the $10 annual fee), my net dividends would have grown by 11.5% sequentially.

Compared to the $583.10 in net dividends that I received in March 2025, this equates to a 19% year-over-year growth rate.

In my Charles Schwab account, I collected $397.81 in net dividends from 40 companies. The timing of PepsiCo's (PEP) dividend payment was only partially offset by the timing of Coca-Cola's (KO) dividend payment and my sale of Viatris (VTRS) in February 2026. My additions to Microsoft (MSFT) and Meta Platforms (META) in December 2025 also contributed to this uptick in income. Additions to Visa (V) in January 2026 chipped in as well.

I received $170.87 in net dividends from 15 companies within my Robinhood IRA. Purchases of BAM, MSFT, and META drove this uptick in income in the portfolio.

My net dividends collected in retirement account (when I was an employee at my first full-time job) from the Capital Income Builder (CAIBX) mutual fund was $104.64. A 3.2% uptick in the quarterly dividend per share and a higher share count from dividend reinvestment were behind this higher income.

In my Webull portfolio, I received $20.79 in net dividends from seven companies.

Concluding Thoughts:

March 2026 was yet another robust month for the portfolio. Through the first quarter of 2026, my net dividends were up 24% over Q1 2025. By the grace of God, I believe that this compounding can not only continue but accelerate through greater capital contributions moving forward than I would have anticipated only a few months ago.

Discussion:

How was your March 2026 for dividend income?

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

Thanks for your readership and please feel free to comment below!

Expected Dividend Increases for April 2026

As I'm writing this blog post, it's currently Friday, March 20th. The temperature here in Central Wisconsin is going to reach a high of 57 degrees Fahrenheit later today. Tomorrow is going to be even better, with the high set to be 65 degrees. Needless to say, I'm aiming to spend some time outside over the next few days!

Now that the month is almost over, I have received all the dividend raises that I'm expecting for March 2026. With that said, I will be going over the raises announced in recent weeks and looking ahead to next month. Let's get into it!

Actual Dividend Increases for March 2026

Dividend Increase #1: American Tower (AMT)

American Tower declared a 5.3% raise in its quarterly dividend per share to $1.79. This was $0.01 shy of my prediction of a 5.9% boost to $1.80.

My net annual forward dividends grew by $2.16 across my six shares of AMT from this dividend declaration.

Dividend Increase #2: General Dynamics (GD)

As anticipated, General Dynamics announced a 6% increase in its quarterly dividend per share to $1.59.

Across my six shares of GD, my net annual forward dividends rose by $2.16 due to this dividend announcement.

Dividend Increase #3: Realty Income (O)

As I predicted, Realty Income, declared a 0.2% bump in its monthly dividend per share to $0.2705.

My net annual forward dividends edged $0.918 higher across my 153 shares from this dividend declaration.

Dividend Increase #4: Williams-Sonoma (WSM)

Once again, Williams-Sonoma came up big for me. The company upped its quarterly dividend per share by 15.2% to $0.76. Across my 10 shares of WSM, my net annual forward dividends rose by $4 due to this dividend announcement.

Dividend Freeze: JPMorgan Chase & Co. (JPM)

JPMorgan Chase & Co. announced a $1.50 quarterly dividend per share, which was in line with the previous. Barring stress test results this summer, that changes my expectations for the next raise in September to a 10% raise to $1.65.

Expected Dividend Increases for April 2026

Expected Dividend Increase #1: Agree Realty (ADC)

The first dividend raise that I'm expecting for April 2026 will be from Agree Realty. My best guess is that ADC will declare a 2.3% increase in its monthly dividend per share to $0.268 (it's also worth noting that ADC raises its payout twice a year).

My net annual forward dividends would rise by $1.44 across my 20 shares of ADC from such a dividend declaration.

Expected Dividend Increase #2: American Water Works (AWK)

The next payout boost that I am predicting for next month will come from American Water Works. I believe that AWK will announce a 7.6% raise in its quarterly dividend per share to $0.89.

Across my eight shares of AWK, my net annual forward dividends would grow by $2 due to such a dividend announcement.

Expected Distribution Increase #3: Energy Transfer (ET)

The third distribution bump that I'm projecting for April will be from Energy Transfer. My guess is that ET will declare a 0.7% increase in its quarterly distribution per unit to $0.3375.

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

Expected Dividend Increase #4: Alphabet (GOOGL)

The final dividend raise that I am expecting for next month will come from Alphabet. My best guess is that GOOGL will announce a 4.8% increase in its quarterly dividend per share to $0.22.

Across my 43 shares of GOOGL, my net annual forward dividends would grow by $1.72 due to such a dividend announcement.

Concluding Thoughts:

My net annual forward dividends grew by $9.238 in March 2026. That would be like investing $307.93 at a 3% yield.

If the four raises that I'm projecting for April 2026 materialize, my net annual forward dividends will have increased by $7.23. This would be equivalent to investing $241 at a 3% net dividend yield.

Discussion:

How was your March 2026 for dividend raises?

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

I appreciate your readership and welcome your comments below!

April 2026 Stock Watch List

As I'm writing this blog post, it's Monday, March 16th. The temperature here in Central Wisconsin is expected to reach a high of 22 degrees Fahrenheit later today. On top of this seasonally cold weather, we have received about 18 inches of cumulative snowfall in less than 48 hours.

Now that I have completed my stock purchases for March 2026, I'm going to look ahead to stocks on my watch list for next month. Let's dive into it!

Stock #1: Automatic Data Processing (ADP)

Once again, the first stock on my watch list for the next month is Automatic Data Processing (running it back again after it was my first pick in my March 2026 Stock Watch List blog post and my February 2026 Stock Watch List blog post). Interested readers can find my investment thesis in this Seeking Alpha article from earlier this month.

Basically, ADP beat analyst estimates for revenue and adjusted diluted EPS (doing so in 19 and 20 out of the last 20 quarters, respectively). The HCM software company is now guiding for 9% to 10% adjusted diluted EPS growth in FY 2026 (up from 8% to 10%). Realistically, I believe that high single-digit to low double-digit percentage annual adjusted diluted EPS growth can continue through mid single-digit percentage annual revenue growth, incremental margin expansion, and share buybacks.

The nearly 3.3% dividend yield is also secure, with the adjusted diluted EPS payout ratio poised to be in the high-50% range for FY 2026 and the FCF payout ratio positioned to be in the low-50% range for FY 2026. ADP's balance sheet continues to enjoy an AA- S&P credit rating with a stable outlook.

GNG Research

Finally, shares are substantially discounted. My friends over at GNG Research peg ADP's fair value at $345 a share (a nearly 40% discount to fair value). While I apply a slightly more conservative fair value multiple of 25.5 (in line with the 20-year average P/E ratio and about one standard deviation below the FAST Graphs 10-year average multiple of 28.6), this still produces a fair value per share estimate of $298. Relative to the current $209 share price, that equates to a still very compelling 30% discount to fair value (a forward 12-month P/E ratio of just 17.9).

Stock #2: Microsoft (MSFT)

The second stock on my watch list for April 2026 is Microsoft. Just like I've been pounding the table on ADP, I've been doing so even more on MSFT. It has appeared in each of my first four stock watch list blog posts to begin 2026.

Just as I indicated in my previous blog post, MSFT's growth outlook remains tremendous. At a macro level, cloud computing and enterprise software are fast-growing markets to fuel teens percentage annual non-GAAP diluted EPS growth for the foreseeable future. On a more company-specific level, MSFT's commercial remaining performance obligation backlog more than doubled to $625 billion in its most recent quarter, as I outlined in this Dividend Kings listicle.

Then, there's the fact that it's the only tech company with a flawless AAA S&P credit rating. Along with an EPS payout ratio set to be in the low-20% range for FY 2026, this makes the 0.9% yield very safe. This is why I contend that MSFT should have no problem delivering 10%+ annual dividend growth to become a Dividend Aristocrat by the end of the decade.

From the current $399 share price, the stock is trading at a forward 12-month P/E ratio of just 21.8. That's well below the 10-year average P/E ratio of 29 and 22% under my fair value P/E ratio of 28 ($513 a share).

Stock #3: NVIDIA (NVDA)

Next up on my watch list for next month is NVIDIA. This is a pick I haven't added to since last May.

On its face, it would seem insane to claim that after rallying 61% over that time, I like NVDA about as much now as I did almost 10 months ago... Until I consider that the company's non-GAAP diluted EPS rocketed about 60% higher in FY 2026 to $4.77.

This growth is showing no signs of slowing down in FY 2027, either. The analyst consensus is for non-GAAP diluted EPS to soar another 70% to $8.11. CEO Jensen Huang noted on the most recent earnings call that the agentic AI era has arrived. These autonomous systems will perform more complex tasks than earlier generative AI, which will require continuous, high-performance inference, which should broaden demand beyond initial model training.

Even as hyperscalers are developing internal silicon to address supply bottlenecks amid soaring customer demand, NVDA's Blackwell architecture appears to have exceptional pricing power. That's helping the company to routinely maintain gross margins above 70%.

NVDA's balance sheet is phenomenal, too. The company boasts an AA- S&P credit rating with a stable outlook.

Bringing everything full circle, shares are trading at a forward 12-month P/E ratio of just 21.7 at the current $183 share price. This is well below the 10-year average P/E ratio of 44.3 and the 20-year average P/E ratio of 35.1. I believe that NVDA's move into software and networking can conservatively support a fair value P/E ratio of around 30. That would imply a fair value per share of $252, which would be a 28% discount to fair value.

Stock #4: UnitedHealth Group (UNH)

The fourth stock on my watch list for next month is UnitedHealth Group. I haven't added to this one since last August at $236 a share. Curious readers can find my updated and comprehensive thesis in this Dividend Kings deep dive.

The gist of my investment thesis is as follows: I'm convinced that UNH can unlock cost savings through AI efficiencies, become more efficient by leaving unprofitable markets, and further tapping into value-based care. Beyond the high single-digit adjusted diluted EPS growth forecasted for this year, these moves should return UNH to double-digit percentage growth in 2027 and beyond.

In the meantime, the managed care giant sports an A+ S&P credit rating with a stable outlook. The 3.1% dividend is also well-supported by a payout ratio slated to be in the high-40% to low-50% range for 2026. That has me confident that UNH can return to double-digit percentage dividend growth in 2027.

GNG Research

From the current $285 share price, the stock is priced at a forward 12-month P/E ratio of 15.7. For more context, that's well below the 10-year average of 20.5 and 21% below my fair value per share estimate of $364 (20 P/E ratio). This also represents a roughly 22% discount to the GNG Research fair value per share estimate of $365.

Stock #5: VICI Properties (VICI)

The final stock on my watch list for April 2026 is VICI Properties. My investment thesis is basically unchanged from when I last added to my position in January 2026.

The crux of my thesis is that VICI's world-class experiential properties are irreplaceable. Its annual contractual lease escalators and incremental acquisition activity provide a realistic path to 3% to 4% annual AFFO per share growth over the long haul.

VICI's 6.2% dividend yield is also arguably sustainable. The payout ratio is likely to be in the mid-70% range in 2026, which gives the net lease REIT the retained AFFO needed to keep fueling future growth, and a cushion for further payout raises. VICI's BBB- S&P credit rating with a stable outlook is another positive.

GNG Research

At the current $29 share price, the stock is trading at a forward 12-month P/AFFO ratio of 11.7. This is well below the seven-year average P/AFFO ratio of 15.7 and 16% less than my fair value per share estimate of $34 (14 P/AFFO ratio). That's also about 12% below the GNG Research fair value per share estimate of roughly $33.

Concluding Thoughts:

That's it for today. I'm planning on a 24% allocation to VICI, a 22% allocation to NVDA, a 20% allocation to UNH, a 19% allocation to MSFT, and a 15% allocation to ADP. This blend of value and growth offers a high-2% starting yield and potentially strong capital appreciation over the next several years.

Discussion:

Are any of ADP, MSFT, NVDA, UNH, or VICI on your watch list for April 2026?

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

Thanks for reading and please feel free to comment below!

February 2026 Dividend Stock Purchases/Sales

As I'm writing this blog post, it's Friday, March 6th. The temperature here in Central Wisconsin is set to reach a high of 53 degrees Fahrenheit later today, with a thunderstorm expected tonight. Better yet, the temperature is expected to reach into the 60s on Sunday and Monday with sunny forecasts!

Now that February 2026 is in the rearview mirror, I'll briefly highlight my stock purchases and stock sales during the month. Without further ado, let's get into it!

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

The first dividend stock purchase that I made in February 2026 was two more shares of Automatic Data Processing at an average cost per share of $241.55. In my March 2026 Stock Watch List blog post, my rationale is the same as it has been in recent months (with an even better value proposition to boot). This raised my net annual forward dividends by $13.60, which is equivalent to a 2.81% net dividend yield.

Dividend Stock Purchase #2: Brookfield Asset Management (BAM)

The next dividend stock purchase that I completed during the month was 14 shares of BAM at an average price per share of $49.28. Curious readers can peruse my investment thesis in my February 2026 Dividend Stock Watch List blog post. My net annual forward dividends rose by $25.02 (accounting for the pre-dividend announcement payout on 12 of those shares and the post-dividend announcement on two of those shares), which works out to a 3.63% net dividend yield.

Dividend Stock Purchase #3: Microsoft (MSFT)

The third dividend stock purchase that I made in February 2026 was two shares of Microsoft at an average cost per share of $395.64. Interested readers can find my investment thesis in either of my blog posts linked above. The $7.28 in net annual forward dividends added from this transaction equates to a 0.92% net dividend yield.

Dividend Stock Purchase #4: Meta Platforms (META)

The next dividend stock purchase that I completed during the month was one share of Meta Platforms at a total cost of $650.35. Readers can check out my investment thesis in the February 2026 Dividend Stock Watch List blog post linked earlier. The $2.10 increase in my net annual forward dividends is equivalent to a 0.32% net dividend yield.

Dividend Stock Purchase #5: NNN REIT (NNN)

The fifth dividend stock purchase that I made in February 2026 was 23 shares of NNN REIT at an average price per share of $43.08. Once again, my investment thesis can be found in the aforementioned February 2026 Dividend Stock Watch List blog post. My net annual forward dividends rose by $55.20, which works out to a 5.57% net dividend yield.

Dividend Stock Sales: Bristol Myers Squibb (BMY), Dollar General (DG), Pinnacle West Capital (PNW), AT&T (T), United Parcel Service (UPS), and Viatris (VTRS)

I was also busy exiting quite a few small positions in my portfolio. Since these all had some combination of lackluster dividend growth/dividend freezes/elevated valuations, I decided late last month was the time to close them out to redeploy capital into higher conviction positions.

I sold out of 22 shares of BMY at $59.58 a share. I exited four shares of DG at $153 apiece. I closed out seven shares of PNW at $99.89 each. I sold off 21 shares of T at $28.95 a share. I exited five shares of UPS at $117.40 each. Finally, I closed out 42 shares of VTRS at $15.83 a share.

Overall, these sales reduced my net annual forward dividends by $166.63.

Stock Purchases: Intuit (INTU) and Western Midstream Partners (WES)

Rather than wait to buy Intuit in March, I got started before the Q2 2026 earnings report was released. In two tranches, I added a total of seven shares of INTU at an average cost of $392.62. In two tranches, I also added a total of 45 units of WES at an average price per unit of $42.66.

Including additional capital contributions of $186.80 beyond what I received from my proceeds in sales, I added $198.44 in net annual forward dividends/distributions (accounting for 32 units of WES purchased before the distribution increase and 13 units after the payout raise).

Concluding Thoughts:

In February 2026, I invested $3,792.40 in net capital. Including a $31.81 benefit from capital redeployment, my net annual forward dividends grew by $135.01 during the month. That equates to a 3.56% net yield.

Dividend boosts announced in February 2026 also lifted my net annual forward dividends by $64.108. That took my net annual forward dividends from around $6,885 heading into February 2026 to almost $7,090 to conclude the month.

Discussion:

How was your February 2026 for capital deployment?

Did you open any new position(s) as I did with INTU and WES during the month? Did you exit any positions as I did with BMY, DG, PNW, T, UPS, and VTRS?

I appreciate your readership and welcome your comments below!

February 2026 Dividend Income

As I'm writing this blog post, it's currently Saturday, February 28th. After reaching a high of 54 degrees Fahrenheit yesterday, the high temperature here in Central Wisconsin is only expected to reach 22 degrees today. The good news is that the next warming trend will begin on Sunday, with temperatures again reaching into the 50s by next weekend.

Now that February is already over (hard to believe, isn't it?), I thought it would be a great time to highlight my dividend income for the month. Without further ado, let's dig into it!

Net Dividend Income Almost Topped $700

In February 2026, I received $699.63 in net dividends (including ADR fees for British American Tobacco). That equates to a 6.9% quarterly growth rate over the $654.25 in net dividends collected in November 2025.

My net dividends received in February were also 35.5% higher over the $516.48 in net dividends logged in February 2025.

In my Charles Schwab portfolio, I collected $668.93 in net dividends from 21 companies. The timing of dividend payments from Comcast and American Tower explains how I received dividends from two more companies in February than I did last November. Purchases of MPLX LP in November and ONEOK in December also played a role in my higher income in this portfolio. 

I received $22.64 in net dividends from three companies in my Robinhood IRA account. Higher dividends from Realty Income, Agree Realty, and Mastercard (and a January purchase) contributed to slightly higher dividend income in this account.

In my Webull portfolio, I received $17.08 in net dividends from three companies. This was mostly due to higher dividend income from BTI from more favorable currency translation.

Concluding Thoughts:

February 2026 marked another month of strong progress for the overall portfolio. In the first two months of 2026, my net dividends are up 27.7% over 2025. By continuing to roll the snowball down the hill and God's grace, I hope to further accelerate this compounding in the coming months and years.

Discussion:

How was your dividend income in February 2026?

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

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

Expected Dividend Increases for March 2026

As I'm writing this blog post, it's Friday, February 20th. The temperature here in Central Wisconsin is set to reach a high of 30 degrees Fahrenheit later. For this time of year, that's pretty typical. So, I plan on getting outside for a bit today.

With that aside, I have received almost all of the dividend announcements I anticipated for February 2026. That makes now a great time to highlight these dividend declarations and look ahead to the next month. Let's get into it!

Actual Dividend Increases for February 2026

Dividend Increase #1: Allstate (ALL)

Allstate announced an 8% hike in its quarterly dividend per share to $1.08, which was perfectly in line with my expectation shared in this series' prior blog post.

My net annual forward dividends grew by $1.60 across my five shares of ALL due to this dividend announcement.

Dividend Increase #2: Brookfield Asset Management (BAM)

Brookfield Asset Management declared a 14.9% boost in its quarterly dividend per share to $0.5025. This was just above my prediction of a 14.3% raise to $0.50.

Across my 76 shares of BAM at the time of the declaration, my net annual forward dividends surged higher by $19.76 from this declaration.

Dividend Increase #3: British American Tobacco (BTI)

British American Tobacco announced a 2% increase in its quarterly dividend per share to 0.6126 GBP. That was below my forecast of a 3.6% raise to 0.6222 GBP.

My net annual forward dividends rose by $9.222 (based on current exchange rates) across my 141 shares of BTI due to this dividend announcement.

Dividend Increase #4: Equinix (EQIX)

Equinix declared a 10% boost in its quarterly dividend per share to $5.16. This came in above my expectation of an 8.1% increase in the quarterly dividend per share to $5.07.

Across my three shares of EQIX, my net annual forward dividends grew by $5.64 from this dividend declaration.

Dividend Increase #5: Genuine Parts Company (GPC)

Genuine Parts Company announced a 3.2% increase in its quarterly dividend per share to $1.0625.

My net annual forward dividends edged $0.78 higher across my six shares of GPC due to this dividend announcement.

Dividend Increase #6: Coca-Cola (KO)

Coca-Cola declared a 3.9% raise in its quarterly dividend per share to $0.53. That missed my prediction of a 4.9% raise in the quarterly dividend per share to $0.535.

Across my 10 shares of KO, my net annual forward dividends increased by $0.80 from this dividend declaration.

Dividend Increase #7: NextEra Energy (NEE)

NextEra Energy announced a 10% hike in its quarterly dividend per share to $0.6232. This was slightly more than my forecast of a 10% raise to $0.6230.

My net annual forward dividends grew by $10.886 across my 48 shares of NEE due to this dividend announcement.

Dividend Increase #8: PepsiCo (PEP)

PepsiCo declared a 4% increase in its quarterly dividend per share to $1.48. That was just below my expectation of a 4.9% raise in the quarterly dividend per share to $1.4925.

Across my 24 shares of PEP, my net annual forward dividends rose by $5.52 from this dividend declaration.

Dividend Increase #9: Prudential Financial (PRU)

Prudential Financial announced a 3.7% raise in its quarterly dividend per share to $1.40. This was in line with my prediction.

My net annual forward dividends edged $2 higher across my 10 shares due to this dividend announcement.

Dividend Increase #10: Rexford Industrial Realty (REXR)

Rexford Industrial Realty declared a 1.2% increase in its quarterly dividend per share to $0.435. That missed my forecast of a 2.9% raise to $0.4425.

Across my 30 shares of REXR, my net annual forward dividends inched $0.60 higher from this dividend declaration.

Dividend Increase #11: T. Rowe Price Group (TROW)

T. Rowe Price Group announced a 2.4% raise in its quarterly dividend per share to $1.30. This fell short of my expectation of a 3.1% bump to $1.31.

My net annual forward dividends grew by $0.72 across my six shares of TROW due to this dividend announcement.

Dividend Increase #12: Tractor Supply (TSCO)

Tractor Supply declared a 4.3% increase in its quarterly dividend per share to $0.24. That was less than the 8.7% boost to $0.25 that I was predicting.

Across my 25 shares of TSCO, my net annual forward dividends edged $1 higher from this dividend declaration.

Distribution Increase: Western Midstream Partners (WES)

Western Midstream Partners announced a 2.2% raise in its quarterly distribution per unit to $0.93.

My net annual forward distributions rose by $2.56 across my 32 units of WES at the time of the distribution announcement.

Pending Dividend Increase #1: The Home Depot (HD)

Home Depot hasn't yet declared its next dividend. However, I'm maintaining my forecast of a 4.3% raise in the quarterly dividend per share to $2.40.

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

UPDATE: HD missed my forecast, increasing its quarterly dividend per share by 1.3% to $2.33. Across my five shares, my net annual forward dividends grew by $0.60 from this dividend declaration.

Pending Dividend Increase #2: TJX Companies (TJX)

TJX Companies also has yet to announce its next dividend. Still, I'm sticking with my expectation of a 9.4% boost in the quarterly dividend per share to $0.465.

My net annual forward dividends would grow by $1.76 across my 11 shares of TJX due to such a dividend announcement.

UPDATE: TJX surpassed my expectations, hiking its quarterly dividend per share by 12.9% to $0.48. My net annual forward dividends rose by $2.42 across my 11 shares of TJX from this dividend announcement.

Dividend Freeze: Meta Platforms (META)

In light of its significant uptick in capex for 2026 to pivot the company toward personal superintelligence, Meta Platforms opted to keep its quarterly dividend per share at $0.525. I was anticipating an 8.6% lift in the payout to $0.57.

Dividend Freeze: Realty Income (O)

Realty Income kept its monthly dividend per share at $0.27. Since O tends to announce one larger dividend raise at some point in the year (along with four smaller ones), I expected a 1.9% raise to $0.2750. I still believe we'll see that level of a dividend raise declared within the next few months.

Expected Dividend Increases for March 2026

Expected Dividend Increase #1: American Tower (AMT)

The first dividend raise that I'm predicting for next month will come from American Tower. I believe that AMT will announce a 5.9% boost in its quarterly dividend per share to $1.80.

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

Expected Dividend Increase #2: General Dynamics (GD)

The next dividend increase that I'm anticipating for March 2026 will be from General Dynamics. My guess is that GD will declare a 6% raise in its quarterly dividend per share to $1.59.

My net annual forward dividends would grow by $2.16 across my six shares of GD due to such a dividend declaration.

Expected Dividend Increase #3: JPMorgan Chase & Co. (JPM)

The third dividend raise that I'm expecting for next month will come from JPMorgan Chase & Co. My best guess is that JPM will announce a 6.7% raise in its quarterly dividend per share to $1.60 (JPM has raised its dividend twice a year in recent years to better manage its capital surplus).

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

Dividend Increase #4: Realty Income (O)

The final dividend increase that I'm predicting for March 2026 will be from Realty Income. I believe O will declare a 0.2% increase in its monthly dividend per share to $0.2705.

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

Concluding Thoughts:

My net annual forward dividends climbed higher by $64.108 in February 2026 from 15 payout hikes. This would be equal to investing $2,136.93 at a 3% net dividend yield.

If my four raises expected in March 2026 materialize, my net annual forward dividends would rise by $7.878. That would be equivalent to investing $262.60 at a 3% net yield.

Discussion:

How was your February 2026 for dividend raises?

Did you receive any first-time payout boosts as I did with EQIX and WES?

Thanks for reading and please feel free to comment below!