Expected Dividend Increases For August 2024

As I'm writing this blog post, it is July 19th. The temperature is going to reach a high of 79 degrees Fahrenheit today, which is arguably perfect for this time of year.

Now that the month is mostly complete, I believe it is a good time to discuss the dividend hikes that I received. I'll also look ahead to the dividend raises that I believe are on tap for August 2024.

Actual Dividend Increases For July 2024

Dividend Increase #1: Cummins (CMI)

Cummins announced an 8.3% boost in its quarterly dividend per share to $1.82. This was slightly better than my expectation of a 7.1% raise in the quarterly dividend per share to $1.70 in the previous blog post of this series.

Across my five shares of CMI, my net annual forward dividends grew by $2.80 from this dividend announcement.

Dividend Increase #2: Duke Energy (DUK)

Duke Energy declared a 2% increase in its quarterly dividend per share to $1.045, which was in line with my prediction.

My net annual forward dividends rose by $0.48 across my six shares of DUK due to this dividend declaration.

Dividend Increase #3: Enterprise Products Partners (EPD)

Enterprise Products Partners announced a 1.9% raise in its quarterly distribution per unit to $0.525. That was a bit below my projection of a 2.9% increase in its quarterly distribution per unit to $0.53.

Across my 75 units of EPD, my net annual forward distributions surged by $3 from this distribution announcement.

Dividend Increase #4: NNN REIT (NNN)

NNN REIT declared a 2.7% bump in its quarterly dividend per share to $0.58, which was what I predicted.

My net annual forward dividends grew by $1.08 across my 18 shares of NNN due to this dividend declaration.

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

J.M. Smucker announced a 1.9% raise in its quarterly dividend per share to $1.08. This was below the 3.8% increase in the quarterly dividend per share to $1.10.

Across my three shares of SJM, my net annual forward dividends edged $0.24 higher from this dividend announcement.

Dividend Increase #6: Albemarle (ALB)

Albemarle declared a 1.3% increase in its quarterly dividend per share to $0.405. My net annual forward dividends grew by $0.16 across my eight shares of ALB due to this dividend declaration.

Dividend Increase #7: Union Pacific (UNP)

Union Pacific announced a 3.1% raise in its quarterly dividend per share to $1.34. Across my four shares of UNP, my net annual forward dividends rose by $0.64 from this dividend announcement.

Dividend Increase #8: Wells Fargo (WFC)

This month, Wells Fargo made its 14.3% hike in its quarterly dividend per share to $0.40 official. Across my eight shares of WFC, this lifted my net annual forward dividends by $1.60 due to this declaration.

Dividend Increase #9: BP plc (BP)

BP announced a 10% hike in its quarterly dividend per share to $0.48. My net annual forward dividends grew by $1.927 across my 10 shares of BP from this dividend announcement.

Dividend Increase #10: Clorox (CLX)

Clorox declared a 1.7% increase in its quarterly dividend per share to $1.22. Across my two shares of CLX, my net annual forward dividends edged higher by $0.16 due to this declaration.

Dividend Increase #11: Essential Utilities (WTRG)

Essential Utilities announced a 6% boost in its quarterly dividend per share to $0.3255. This was just below my previous estimate in this post of a 6.8% raise to $0.3280. My net annual forward dividends rose by $1.5456 across my 21 shares of WTRG from this dividend announcement.

Pending Dividend Increase: Energy Transfer (ET)

Energy Transfer has yet to up its quarterly distribution per unit. However, I'm reiterating my expectation for a 0.8% increase in the quarterly distribution per unit to $0.32.

My net annual forward distributions could grow by $0.86 across my 86 units of ET from such an announcement.

UPDATE:

ET announced a 0.8% increase in its quarterly distribution per unit to $0.32. Across my 86 units of ET, my net annual forward dividends grew by $0.86 due to this announcement.

Expected Dividend Increases For August 2024

Expected Dividend Increase #1: Iron Mountain (IRM)

The first dividend increase that I'm expecting for next month will be from Iron Mountain. My best guess is that IRM will announce a 6.2% raise in its quarterly dividend per share to $0.69.

Across my 21 shares of IRM, my net annual forward dividends would grow by $3.36 from such an announcement.

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

The next dividend bump that I'm predicting in August is from Main Street Capital. I believe that MAIN will declare a 2% increase in its monthly dividend per share to $0.25.

My net annual forward dividends would increase by $1.80 across my 30 shares due to such a declaration.

Expected Dividend Increase #3: Altria Group (MO)

The third dividend raise that I'm projecting for next month will be from Altria Group. My hunch is that MO will announce a 4.1% hike in it quarterly dividend per share to $1.02.

Across my 24 shares of MO, my net annual forward dividends would soar by $3.84 from such an announcement.

Expected Dividend Increase #4: Simon Property Group (SPG)

The next dividend bump that I'm expecting for August is from Simon Property Group. I believe that SPG will declare a 2.5% increase in its quarterly dividend per share to $2.05.

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

Concluding Thoughts:

The 12 dividend increases that I received in July lifted my net annual forward dividends by $14.4926. That's equivalent to investing $483.09 of fresh capital at a net dividend yield of 3%.

If the four dividend raises that I'm expecting for next month play out as anticipated, my net annual forward dividends could increase by $10.80. This would be like investing $360 of fresh capital at a net dividend yield of 3%.

Discussion:

How has your month been for dividend increases?

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

Thanks for reading and please feel free to comment below!