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!

Expected Dividend Increases For October 2024

As I’m writing this blog post, it is currently Thursday, September 19th. The weather here in Central Wisconsin is going to be ideal for this weekend, with the high temperatures in the low 80 degrees Fahrenheit range. So, I plan on going outside for at least a few hours this weekend.

Now that I have received all but one of the raises that I am expecting for the month, I’ll go over those in this post. I’ll also look ahead to the dividend raises that I’m anticipating for next month.

Actual Dividend Increases For September 2024

Dividend Increase #1: Broadcom (AVGO)

Broadcom announced a 1% increase in its quarterly dividend per share to $0.53. This was due to the 10:1 stock split completed in July and aimed at keeping the dividend at an non-fractional cent amount.

Across my 40 shares of AVGO, my net annual forward dividends grew by $0.80 due to this dividend announcement.

Dividend Increase #2: JPMorgan Chase (JPM)

JPMorgan Chase made its 8.7% increase in its quarterly dividend per share to $1.25 official during the month.

My net annual forward dividends rose by $2.40 across my six shares of JPM because of this dividend declaration.

Dividend Increase #3: Microsoft (MSFT)

Microsoft announced a 10.7% raise in its quarterly dividend per share to $0.83 in September. This was in line with my prediction in this series’ previous blog post.

Across my five shares of MSFT, my net annual forward dividends climbed by $1.60 due to this dividend announcement.

Dividend Increase #4: Realty Income (O)

Realty Income declared a 0.2% increase in its monthly dividend per share to $0.2635. That was also precisely what I anticipated.

My net annual forward dividends edged $0.288 higher across my 48 shares of O because of this dividend declaration.

Dividend Increase #5: Philip Morris International (PM)

Philip Morris International announced a 3.8% raise in its quarterly dividend per share to $1.35. This was $0.01 more than I expected.

Across my 27 shares of PM, my net annual forward dividends increased by $5.40 due to this dividend announcement.

Dividend Increase #6: VICI Properties (VICI)

VICI Properties declared a 4.2% increase in its quarterly dividend per share to $0.4325. This came in below my expectation of $0.44.

My net annual forward dividends climbed by $4.76 across my 68 shares of VICI because of this dividend declaration.

Dividend Increase #7: Verizon Communications (VZ)

Verizon Communications announced a 1.9% raise in its quarterly dividend per share to $0.6775, which was what I predicted.

Across my 45 shares of VZ, my net annual forward dividends increased by $2.25 due to this dividend announcement.

Dividend Increase #8: Texas Instruments (TXN)

Texas Instruments upped its quarterly dividend per share by 4.6% to $1.36. Across my 12 shares of TXN, my net annual forward dividends rose by $2.88.

Dividend Increase #9: McDonald's (MCD)

McDonald's was a bit early with its dividend hike this year. The company matched my expectations of a 6% raise in its quarterly dividend per share to $1.77. My net annual forward dividends grew by $2 across my five shares of MCD from this dividend announcement.

Expected Dividend Increases For October 2024

Expected Dividend Increase #1: AbbVie (ABBV)

The first dividend raise that I’m expecting in October will be from AbbVie. My best guess is that a 5.2% increase in the quarterly dividend to $1.62 will be announced.

Across my 14 shares of ABBV, my net annual forward dividends would climb by $3.92 from such an announcement.

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

The next dividend increase that I’m projecting for next month will come from American Electric Power. I believe that AEP will declare a 5.7% increase in its quarterly dividend per share to $0.93.

My net annual forward dividends would rise by $3 due to such a declaration across my 15 shares of AEP.

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

The third dividend raise that I’m anticipating in October will be from A.O. Smith. My guess is that AOS will announce a 7.8% increase in its quarterly dividend per share to $0.345.

Across my 12 shares of AOS, my net annual forward dividends would edge higher by $1.20 from such an announcement.

Expected Dividend Increase #4: Energy Transfer (ET)

The next distribution increase that I’m expecting for next month will come from Energy Transfer. I believe that ET will declare a 0.8% bump in its quarterly distribution per unit to $0.3225.

My net annual forward distributions would rise by $1.02 across my 102 units of ET due to such a distribution declaration.

Expected Dividend Increase #5: Lockheed Martin (LMT)

The fifth dividend raise that I’m projecting in October will be from Lockheed Martin. My best guess is that LMT will announce a 6.3% increase in its quarterly payout per share to $3.35.

Across my four shares of LMT, my net annual forward dividends would climb by $3.20 from such an announcement.

Expected Dividend Increase #6: MPLX LP (MPLX)

The next distribution raise that I’m anticipating in October will be from MPLX LP. My guess is that MPLX will announce a 5.9% hike in its quarterly distribution per unit to $0.90.

Across my 32 units of MPLX, my net annual forward distributions would grow by $6.40 from such an announcement.

Expected Dividend Increase #7: Pinnacle West Capital (PNW)

The seventh dividend increase that I’m projecting for next month will come from Pinnacle West Capital. I believe that PNW will declare a 1.9% bump in its quarterly dividend per share to $0.90.

My net annual forward dividends would increase by $0.56 across my seven shares due to such a dividend declaration.

Expected Dividend Increase #8: Visa (V)

The next dividend boost that I’m predicting in October will be from Visa. My best guess is that V will announce a 13.5% hike in its quarterly dividend per share to $0.59.

Across my nine shares of V, my net annual forward dividends would rise by $2.52 from such an announcement.

Expected Dividend Increase #9: Exxon Mobil (XOM)

The ninth and final dividend increase that I’m anticipating for next month will come from Exxon Mobil. I believe that XOM will declare a 5.3% raise in its quarterly dividend per share to $1.

My net annual forward dividends would grow by $2.20 across my 11 shares of XOM due to such a declaration.

Pending Dividend Increase: Starbucks (SBUX)

Starbucks has yet to deliver its dividend boost. But I’m standing by my projection that a 7% increase in the quarterly dividend per share to $0.61 will be declared before the month is up.

My net annual forward dividends would rise by $3.68 across my 23 shares of SBUX with such a dividend declaration.

Concluding Thoughts:

I received an additional $22.378 in net annual forward dividends from nine companies in September. This is like investing $745.93 in capital at a 3% dividend yield.

If the 10 raises that I’m projecting for next month materialize, my net annual forward dividends would increase by $27.70. That would be equivalent to investing $923.33 in fresh capital at a 3% net yield.

Discussion:

How were your dividend/distribution raises in September?

Did you receive any first-time raises?

As always, I appreciate your readership. Please feel free to leave your comments below!