October 2025 Dividend Income

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

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

Net Dividend Income Surpassed $275

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

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

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

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

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

Concluding Thoughts:

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

Discussion:

How was your October 2025 for dividend income?

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

Thanks for reading and please feel free to comment below!

October 2025 Stock Purchases

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

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

Stock Purchase #1: Amazon (AMZN)

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

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

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

Stock Purchase #2: NextEra Energy (NEE)

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

Stock Purchase #3: ONEOK (OKE)

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

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

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

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

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

Concluding Thoughts:

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

If my remaining dividend raises play out as anticipated, my net annual forward dividends would surge $47.33 higher. That would boost my net annual forward dividends from $6,375 at the start of the month to around $6,510 heading into November.

Discussion:

How was your capital deployment during the month?

Did you open any new positions in October 2025?

I appreciate your readership and welcome your comments below!

Expected Dividend Increases for November 2025

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

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

Actual Dividend Increases for October 2025

Actual Dividend Increase #1: Agree Realty (ADC)

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

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

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

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

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

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

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

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

Actual Distribution Increase #4: Energy Transfer (ET)

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

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

Actual Dividend Increase #5: Lockheed Martin (LMT)

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

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

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

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

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

Actual Distribution Increase #7: MPLX LP (MPLX)

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

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

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

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

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

Actual Dividend Increase #9: Visa (V)

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

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

Nine dividend raises have been declared so far this month. Since I am reiterating my expectations for AbbVie, I would refer readers to this series' prior blog post.

Expected Dividend Increases for November 2025

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

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

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

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

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

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

Expected Dividend Increase #3: Merck (MRK)

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

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

Concluding Thoughts:

If my remaining dividend raise for October 2025 plays out as predicted, my net annual forward dividends would soar by $47.33 from 10 raises. That would be equivalent to investing $1,577.67 at a 3% net dividend yield.

If my three raises for November 2025 materialize, my net annual forward dividends would increase by $11.44. This would be like investing $381.33 at a 3% dividend yield.

Discussion:

How has your month been to date for dividend hikes?

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

Thanks for reading and please feel free to comment below!

November 2025 Stock Watch List

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

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

Stock #1: Carlisle Companies (CSL)

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

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

Stock #2: Novo Nordisk (NVO)

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

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

Stock #3: ONEOK (OKE)

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

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

Concluding Thoughts:

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

Discussion:

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

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

I appreciate your readership and welcome your comments below!