February 2023 Dividend Stock Purchases

As I'm writing this blog post, it's early March. The temperature is expected to reach a high of 38 degrees Fahrenheit for today (Saturday, March 4). I'll certainly take that temperature!

With that being said, now is a good time to look back on the dividend stock purchases that I made last month. Let's dig in.

I began the month by purchasing one share of Alphabet (GOOGL) at a cost of $103.02. As I explained in a blog post last year, I was compelled to buy the stock for its enviable market share in digital advertising and its eventual dividend.

The next stock purchase that I made was a share of Amazon (AMZN) at a price of $106.27. I executed this transaction because AMZN is a dominant player in e-commerce, cloud computing, and digital advertising.

My first dividend stock purchase during the month was four shares of WEC Energy Group (WEC) at an average cost per share of $92.73. The rationale for this buy can be found in my February 2023 Dividend Stock Watch List post. Given the $12.48 in net annual forward dividends that were added from this transaction, that equates to a 3.36% net dividend yield.

The next dividend stock purchase that I completed last month was four shares of Digital Realty Trust (DLR) at an average cost of $109.98 a share. Interested readers can again refer to the aforementioned February 2023 Dividend Stock Watch List post for more details. This transaction boosted my net annual forward dividends by $19.52, which works out to a 4.44% dividend yield.

My third dividend stock purchase was nine shares of Pfizer (PFE) at an average price per share of $43.97. This was an alternative dividend stock purchase to Fastenal (FAST) because it was my opinion that the stock ran up too much since I highlighted it in my February 2023 Dividend Stock Watch List post. This activity added $14.76 to my net annual forward dividends, which is equivalent to a 3.73% net dividend yield.

The next dividend stock purchase that I executed in February was four shares of Automatic Data Processing (ADP) at an average cost of $225.12 a share. ADP is the leader of the human resources and payroll management software and services industry. As long as businesses remain in business, there will always be a need for ADP. Coupled with strong earnings and dividend growth prospects, that is the case for owning the stock. This transaction added $20.00 in net annual forward dividends to my portfolio, which equates to a 2.22% dividend yield.

My fifth and final dividend stock purchase that I completed last month was eight shares of CVS Health (CVS) at an average price per share of $85.20. Readers seeking my investment thesis can find it in this recent Motley Fool article. This activity increased my net annual forward dividends by $19.36, which works out to a 2.84% net dividend yield.

Concluding Thoughts:

I deployed $2,997.89 in capital during the month of February 2023. These dividend stock purchases added $86.12 to my portfolio's net annual forward dividends, which is equivalent to a 2.87% dividend yield.

Paired with $19.194 in additional net annual forward dividends from February dividend increases, my net annual forward dividends surged from not quite $3,480 heading into the month to almost $3,585 at the end of the month.

Discussion:

How did you do with capital deployment in February 2023?

Did you open any new positions during the month as I did with ADP?

Thanks for your readership and please leave your comments below!

Expected Dividend Increases for March 2023

As I'm writing this blog post, the end of February is already just four days away. The weather still seems to be reflecting this fact with the temperature reaching a high of 22 degrees Fahrenheit here in Central Wisconsin.

With that said, now would be a great time to look at the numerous payout hikes that I received during the month of February. I'll also look ahead to the seven raises that I'm anticipating will be announced in March.

Actual Dividend Increases for February 2023

Dividend Increase #1: Shell (SHEL)

Shell announced a 15% boost in its quarterly dividend per share to $0.575. My net annual forward dividends surged $2.70 higher across my nine shares of SHEL due to this dividend announcement.

Dividend Increase #2: BP plc (BP)

BP plc declared a 10.1% hike in its quarterly dividend per share to $0.3966. Across my 11 shares of BP, my net annual forward dividends increased by $1.58 from this dividend declaration.

Dividend Increase #3: T. Rowe Price Group (TROW)

T. Rowe Price Group announced a 1.7% bump in its quarterly dividend per share to $1.22. This came in just below my expectation of a 2.5% increase to $1.23. My net annual forward dividends edged $0.48 higher across my six shares of TROW due to this dividend announcement.

Dividend Increase #4: Prudential Financial (PRU)

Prudential Financial declared a 4.2% raise in its quarterly dividend per share to $1.25, which was in line with my projection. Across my 10 shares of PRU, my net annual forward dividends surged $2.00 from this dividend declaration.

Dividend Increase #5: Tractor Supply (TSCO)

Tractor Supply announced a 12% hike in its quarterly dividend per share to $1.03. My net annual forward dividends were boosted by $1.32 across my three shares of TSCO due to this dividend announcement.

Dividend Increase #6: PepsiCo (PEP)

PepsiCo declared a 10% raise in its quarterly dividend per share to $1.265. This was better than my prediction of a 7.8% increase in the quarterly dividend per share. Across my four shares of PEP, my net annual forward dividends were lifted by $1.84 from this dividend declaration.

Dividend Increase #7: Realty Income (O)

Realty Income announced a 2.4% increase in its monthly dividend per share to $0.2545. This was less than my forecast of a 3.8% raise in the monthly dividend per share. My net annual forward dividends rose by $1.224 across my 17 shares of O due to this dividend announcement.

Dividend Increase #8: Cisco (CSCO)

Cisco declared a 2.6% bump in its quarterly dividend per share to $0.39, which was what I expected. Across my 22 shares of CSCO, my net annual forward dividends increased by $0.88 from this dividend declaration.

Dividend Increase #9: Coca-Cola (KO)

Coca-Cola announced a 4.5% raise in its quarterly dividend per share to $0.46. That was precisely what I was anticipating.  My net annual forward dividends increased by $0.80 across my 10 shares of KO due to this dividend announcement.

Dividend Increase #10: NextEra Energy (NEE)

NextEra Energy declared a 10% hike in its quarterly dividend per share to $0.4675, which was better than the 8.2% raise that I was expecting. Across my nine shares of NEE, my net annual forward dividends were lifted higher by $1.53 from this dividend declaration.

Dividend Increase #11: Allstate (ALL)

Allstate announced a 4.7% increase in its quarterly dividend per share to $0.89. This was just ahead of my prediction of a 3.5% bump. My net annual forward dividends edged $0.80 higher across my five shares of ALL due to this dividend announcement.

Dividend Increase #12: Home Depot (HD)

Home Depot declared a 10% raise in its quarterly dividend per share to $2.13. This was well above my forecast of a 5.3% raise. Across my three shares of HD, my net annual forward dividends rose by $2.28 from this dividend declaration.

Dividend Increase #13: Genuine Parts Company (GPC)

Genuine Parts Company announced a 6.1% raise in its quarterly dividend per share to $0.95. This came in just above my expectation of a 5.6% increase. My net annual forward dividends surged $1.32 across my six shares of GPC due to this dividend announcement.

Dividend Increase #14: Albemarle (ALB)

Albemarle declared a 1.3% increase in its quarterly dividend per share, which was half of the 2.5% raise I was projecting. Across my six shares of ALB, my net annual forward dividends edged higher by $0.12 from this dividend declaration.

Dividend Increase #15: L3Harris Technologies (LHX)

L3Harris Technologies announced a 1.7% bump in its quarterly dividend per share to $1.14. This was less than the 7.1% hike that I was expecting. My net annual forward dividends increased by $0.32 across my four shares of LHX due to this dividend announcement.

Dividend Freeze #1: Medical Properties Trust (MPW)

Medical Properties Trust opted to keep its quarterly dividend per share at $0.29. I was expecting a raise to $0.30.

Dividend Freeze #2: Digital Realty Trust (DLR)

Digital Realty Trust made the decision to maintain its quarterly dividend per share at $1.22. I was expecting a raise to $1.28.

Expected Dividend Increases for March 2023

Expected Dividend Increase #1: Realty Income (O)

The first dividend raise that I'm expecting for next month will be from Realty Income. I believe that O will declare a 0.2% increase in its monthly dividend per share to $0.2550.

Across my 17 shares of O, my net annual forward dividends would edge $0.102 higher from such a dividend increase.

Expected Dividend Increase #2: W.P. Carey (WPC)

The next payout bump that I am forecasting in March is from W.P. Carey. My best guess is that WPC will announce a 0.4% increase in its quarterly dividend per share to $1.069.

My net annual forward dividends would rise by $0.112 across my seven shares of WPC due to such a payout raise.

Expected Dividend Increase #3: American Tower (AMT)

The third dividend increase that I'm expecting for next month will be from American Tower. I believe that AMT will declare a 1.3% bump in its quarterly dividend per share to $1.58.

Across my three shares of AMT, my net annual forward dividends would grow by $0.24 from such a dividend increase.

Expected Dividend Increase #4: Williams-Sonoma (WSM)

The next dividend hike that I am projecting in March is from Williams-Sonoma. My best guess is that WSM will announce a 6.4% increase in its quarterly dividend per share to $0.83.

If this plays out as expected, my net annual forward dividends will rise by $2.00 across my 10 shares of WSM.

Expected Dividend Increase #5: General Dynamics (GD)

The fifth dividend boost that I'm expecting for next month will be from General Dynamics. I believe that GD will declare a 7.1% increase in its quarterly dividend per share to $1.35.

Across my four shares of GD, my net annual forward dividends would grow by $1.44 from such a payout hike.

Expected Dividend Increase #6: Innovative Industrial Properties (IIPR)

The next dividend increase that I am anticipating for March is from Innovative Industrial Properties. My best guess is that IIPR will announce a 1.1% bump in its quarterly dividend per share to $1.82.

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

Expected Dividend Increase #7: Dollar General (DG)

The seventh and final dividend boost that I'm predicting for next month will be from Dollar General. I believe that DG will declare a 10.9% hike in its quarterly dividend per share to $0.61.

Across my three shares of DG, my net annual forward dividends would rise by $0.72 from such a declaration.

Concluding Thoughts:

My net annual forward dividends surged $19.194 higher from the 15 raises that I received in February. Invested at a 3.5% dividend yield, this would take $548.40 in fresh capital to replicate.

For the month of March, I am anticipating a $4.854 lift in net annual forward dividends stemming from dividend increases. That is equivalent to investing $138.69 of capital at a 3.5% yield.

Discussion:

How was your month for dividend hikes?

Did you receive any first-time raises as I did with TSCO and NEE?

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

March 2023 Dividend Stock Watch List

As I'm writing this article, we're more than half way through the month of February. We're currently in the middle of a warming trend here in Central Wisconsin, with the high temperature set to reach 40 degrees Fahrenheit on Saturday, February 18th.

With that aside, now would be a good time to look ahead to potential dividend stock purchases for the next month. Let's dive into it!

Image Source: Pexels

Dividend Stock #1: AbbVie (ABBV)

The first dividend stock that I'm watching for next month is AbbVie (ABBV). Readers longing for more substance on my buying rationale can check out my recent Motley Fool article on the stock (and Procter & Gamble and Realty Income).

Basically, ABBV is a wonderfully run business with a strong product portfolio and an equally stacked pipeline, for one. Second, ABBV's near-4% dividend yield is quite safe. Third and finally, ABBV's valuation is compelling at the current $150 share price (as of February 16, 2023).

Dividend Stock #2: Lowe's (LOW)

The next dividend stock on my watch list for March 2023 is Lowe's (LOW). Interested readers can check out my recent Motley Fool article on the stock (and Philip Morris International) for my investment thesis.

The long and short of it is that LOW is a major player in the massive home improvement retail market. The stock's 2% dividend yield is well-supported by profits and the valuation is also cheap at the current $214 share price (as of February 16, 2023).

Dividend Stock #3: Mastercard (MA)

The third dividend stock that I'm watching for next month is Mastercard (MA). Readers can take a look at my investment thesis for the stock in a recently published Motley Fool article.

The takeaways are basically are as follows: A shift toward alternative payment methods will greatly benefit MA, the dividend has nowhere to go but up, and the stock is reasonably valued at the current $368 share price (as of February 16, 2023).

Concluding Thoughts:

March 2023 will likely bring another month of capital deployment in the range of $3,000 to $3,500. I've said it before and I'll say it again: I'm so grateful to be able to be doing what I love and deploying as much capital as I have been to investments in recent months.

Discussion:

Are any of ABBV, LOW, or MA on your watch list for March 2023?

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

Thanks for reading. Please feel free to comment below!

January 2023 Dividend Income

As I'm writing this blog post, it is mid-February. It's hard to believe that the month is more than half over! This means that it is time to delve into my dividend income for last month.

During January 2023, I received $220.01 in net dividends. This is equivalent to a 7.5% quarterly growth rate compared to the $204.57 in net dividends collected in October 2022.

Stacked against the $128.80 in net dividends that I received from my portfolio in January 2022, this is a 70.8% year over year growth rate.

Diving into further detail, I collected $209.94 in net dividends from 28 stocks in my Robinhood account. I also received $9.89 in net dividends from four stocks within my Webull portfolio. Lastly, I collected $0.18 in net dividends from nine stocks in my M1 Finance account.

My net dividends received were boosted by $15.44 from October 2022 to January 2023, which was due to the following activity across my portfolios:

I collected an extra $2.16 in net dividends from Comcast (CMCSA) within my Robinhood account, which was the result of my purchase of eight more shares of the stock last October.

My net dividends received from STAG Industrial (STAG) were lifted higher by $2.56 in my Robinhood portfolio. This was the first dividend payment from the stock for the beginning of a quarter since I opened a position in October.

I collected $13.53 less in net dividends from STORE Capital due to my sale of the stock in November within my Robinhood and Webull accounts.

But my net dividends received from the newcomer to the Robinhood portfolio known as Spirit Realty Capital (SRC) increased by $13.26 from my stock purchase last November.

In addition to opening a stake in SRC, I also built my position in Realty Income (O) in November. Along with a 0.2% dividend increase in December, this explains how my net dividends collected from O edged $1.00 higher within my Robinhood account.

My net dividends received from W.P. Carey (WPC) rose $0.03 in my Robinhood portfolio. This was the result of a 0.4% dividend increase announced in December.

I collected an extra $7.32 in net dividends from Digital Realty Trust (DLR) within my Robinhood account, which was due to the timing of the dividend payment.

My net dividends received from Main Street Capital (MAIN) rose $0.12 in my Robinhood portfolio. This was the result of a 2.3% increase in its monthly dividend per share declared last November.

I collected $0.42 less in net dividends from GSK Plc (GSK) within my Robinhood and M1 Finance accounts, which was due to the company's variability in its dividend payments.

My net dividends received from Medical Properties Trust (MPW) increased by $6.09 in my Robinhood portfolio. This was the result of a 21 share purchase of the stock from last November.

I collected $0.44 in additional net dividends from Merck (MRK) within my Robinhood account, which was due to the 5.8% hike in the quarterly dividend per share announced in November.

My net dividends received from Eastman Chemical (EMN) were $0.21 higher in my Robinhood portfolio. This was the result of the 3.9% dividend increase in the quarterly dividend per share declared last December.

I collected an extra $4.62 in net dividends from PepsiCo (PEP) within my Robinhood and M1 Finance accounts, which was due to the timing of the dividend payment.

My net dividends received from Albemarle (ALB) were $0.39 higher in my Robinhood portfolio. This was the result of my purchase of another share of the stock in September.

I collected $4.41 less in net dividends from American Tower (AMT) within my Robinhood account, which was due to the timing of the dividend payment.

My net dividends received from Coca-Cola (KO) were $4.40 less in my Robinhood portfolio. This was the result of the dividend payment timing.

Concluding Thoughts:

I anticipate that I will continue to deploy between $3,000 to $3,500 each month in fresh capital (including dividends) to dividend stock purchases. That's why I believe that January and February will likely be my final two months of less than $250 in net dividends for any given month.

Discussion:

How was your dividend income last month?

Did you collect any first-time dividends in January 2023 as I did with SRC?

I appreciate your readership and welcome your comments below!