November 2024 Dividend Stock Watch List

As I’m writing this blog post, it is Friday, October 11^th. The high temperature is expected reach 74 degrees Fahrenheit in Central Wisconsin. Add in a partly sunny forecast and the weather is perfect for this time of the year.

Now that less than three weeks remain in the month, I’ll be looking ahead to dividend stocks on my watch list for November 2024. Let’s dive into it!

Dividend Stock #1: Energy Transfer (ET)

The first stock on my watch list for November 2024 is Energy Transfer (ET). Those interested in the investment thesis in detail can refer to my August Seeking Alpha article.

In a nutshell, ET set several new partnership records in its second quarter. The partnership’s credit rating was upgraded to Baa2 (BBB equivalent) by Moody’s in June. The 7.8% distribution yield is also well-covered by DCF. Finally, ET’s $16 unit price (as of October 11^th, 2024) remains well under my fair value estimate of approximately $19 a unit.

Dividend Stock #2: Alphabet (GOOGL)

The next stock on my watch list for next month is Alphabet (GOOGL). Astute readers will notice that I just highlighted the stock in my September 2024 Dividend Stock Watch List.

Well, my buying rationale is about the same as it was at that time. Since that time, I published a September Seeking Alpha article. YouTube Shorts monetization is improving, and Google Cloud remains a go-to option for both startups and established businesses. GOOGL’s nearly $100 billion net cash position and AA+ credit rating from S&P on a stable outlook are also pluses. The recently initiated dividend is modest and has tons of room for future growth. The icing on the cake is that GOOGL is deeply undervalued from the current $165 share price (as of October 11^th, 2024), with my October fair value estimate approaching $210 a share.

Dividend Stock #3: PepsiCo (PEP)

The third stock on my watch list for November 2024 is PepsiCo (PEP). My investment thesis for the consumer staple remains unchanged from my May Seeking Alpha article.

PEP operates as a leader in a fragmented, trillion-plus dollar global beverage and convenient food category. The company also enjoys an A+ credit rating from S&P on a stable outlook. Fair value is also edging closer to $200 a share, which would represent a moderate discount versus the current $174 share price (as of October 11^th, 2024).

Concluding Thoughts:

So, that is that for this blog post in my monthly stock watch list series. Three more world-class stocks on my radar for additional investment. These are the kinds of investment holdings that allow me to sleep well at night and stand by the dividend growth investing strategy. This has served me well over the past seven years and I especially look forward to the next seven years of living by the strategy.

Discussion:

Are any of ET, GOOGL, and/or PEP on your watch list for November 2024?

If not, what stocks are on your radar for next month?

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

September 2024 Dividend Income

As I'm writing this blog post, it's Friday, October 4th. The high temperature is going to reach into the upper 60 degrees Fahrenheit range later today. Unsurprisingly, I'm planning on getting outside for a while today to enjoy what's left of the ideal weather.

Now that September is over, I'm going to be taking a moment today to review my net dividend income for the month. Without further ado, let's dig into it.

Dividend Income Approached $550 For The Month

In September 2024, I collected $543.81 in net dividends (including ADR fees for BP and withholdings on BAM dividends). Against the $520.75 in net dividends received in June 2024, this is equivalent to a 4.4% quarterly growth rate.

Compared to the $434.85 in net dividends collected in September 2023, that equates to a 25.1% year-over-year growth rate.

My net dividends received in my Charles Schwab portfolio were $364.41 from 48 companies. This was marginally lower because of my sale of Dominion Energy (D) in July 2024 and partially offset by my purchase of Meta Platforms (META) during the month.

In my retirement account sponsored by my former employer, I collected $87.11 in net dividends from my Capital Income Builder (CAIBX) holding. This increased slightly because of a higher share count from dividend reinvestment.

My net dividends received from my Fidelity portfolio was $74.80 from 13 companies. Dividend stock purchases in June 2024, July, and August 2024 accounted for this uptick in net dividends.

In my Webull account, I collected $17.49 in net dividends from six companies. Payout raises contributed to a modest increase in net dividends.

Concluding Thoughts:

As I indicated in my June 2024 Dividend Income blog post, my capital deployment in recent months is putting me on a realistic path to receive at least $600 in net dividends for December 2024.

Discussion:

How was your net dividend income for September 2024?

Did you collect any first-time dividends during the month as I did with META?

I appreciate your readership and welcome your comments below!

September 2024 Dividend Stock Purchases

As I’m writing this blog post, it is currently Thursday, September 26^th. The weekend is going to see highs in the mid 70 degrees Fahrenheit. So, we’re seeing a cooling trend here in Central Wisconsin. That’s decent weather for this time of the year, though.

Since the month of September is just about complete, I’ll be detailing my dividend stock purchases for the month. Without further ado, let’s dig into it.

Dividend Stock Purchase #1: Enbridge (ENB)

The first dividend stock purchase that I made during the month was 25 shares of Enbridge at an average price of $40.57 a share. This boosted my net annual forward dividends by $67, which is equivalent to a 6.61% net dividend yield.

Interested readers can find the gist of my investment thesis in my September 2024 Dividend Stock Watch List blog post.

Dividend Stock Purchase #2: Alphabet (GOOGL)

My next dividend stock purchase completed in September was four shares of Alphabet at an average cost per share of $153.84. That increased my portfolio’s net annual forward dividends by $3.20, which works out to a 0.52% net dividend yield.

Curious readers can peruse the September 2024 Dividend Stock Watch List blog post linked above for my investment thesis.

Dividend Stock Purchase #3: Meta Platforms (META)

The third and final dividend stock purchase that I executed for the month was a share of Meta Platforms at $506.11. As a result, my net annual forward dividends edged $2 higher. This equates to a net dividend yield of 0.40%.

Intrigued readers can also uncover my investment thesis in the September 2024 Dividend Stock Watch List blog post.

Concluding Thoughts:

In September, I put $2,135.70 in capital to work. Against the $72.20 in net annual forward dividends added from these buys, this is a weighted average net dividend yield of 3.38%.

My net annual forward dividends also increased by $22.378 from the nine dividend increases that I received in September 2024. This helped my net annual forward dividends rise from about $4,945 heading into the month to approximately $5,040 going into October.

Discussion:

How was your capital deployment during the month?

Did you open any new positions/close any positions in September 2024?

Thank you for reading and please leave your comments below!