November 2025 Dividend Income

As I'm writing this blog post, it's Friday, November 28th. The temperature here in Central Wisconsin is going to reach a high of just 27 degrees Fahrenheit later today. In other words, it feels every bit like it will soon be December.

Now that the month is just about complete, I'll be looking at my net dividend income for November 2025. Without further ado, let's dig into it!

Net Dividend Income Surpassed $650

In November 2025, I received $654.25 in net dividends (including ADR fees for British American Tobacco). Compared to the $622.85 in net dividends collected in August 2025, this is a 5% quarterly growth rate.

Relative to $449.18 in net dividends received in the year-ago period of November 2024, my net dividends were up 45.7%.

In my Charles Schwab account, I collected $616.04 in net dividends from 19 companies. The discrepancy between the number of dividend payments from August to November is explained by the timing of Novo Nordisk's (NVO) semiannual dividend and my sale of Abbott Laboratories (ABT) stock in August 2025. This higher income was made possible by additional purchases of ONEOK (OKE) in September 2025 and October 2025, as well as an additional MPLX buy in November 2025.

I received $21.63 in net dividends from three companies within my Fidelity IRA portfolio. This slight increase came from dividend boosts recently announced by Agree Realty (ADC) and Realty Income (O).

Finally, I collected $16.58 in net dividends from three companies in my Webull account. Modestly unfavorable currency translation on dividends received from BTI led net dividends incrementally lower.

Concluding Thoughts:

November 2025 represented another month of progress for the dividend growth stock portfolio. Through the first 11 months of the year, my net dividends received are up almost 28% over the first 11 months of 2024. By the grace of God, I aim to continue this compounding for many more years and decades.

Discussion:

How was your dividend income in November 2025?

Did you receive any first-time dividend payments during the month?

Thanks for reading and please feel free to comment below!

Expected Dividend Increases for December 2025

As I'm writing this blog post, it's currently Friday, November 21st. The temperature here in Central Wisconsin is set to reach a high of 45 degrees Fahrenheit later today. Needless to say, that's balmy for this time of the year.

With that aside, I have receive all the dividend raises that I'm anticipating for November 2025. That's why I'll be taking a moment to recap them and look ahead to the payout boosts that I'm expecting for next month.

Actual Dividend Increases for November 2025

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

Automatic Data Processing announced a 10.4% lift in its quarterly dividend per share to $1.70. This came in just above my forecast of a 9.7% increase to $1.69.

Across my 12 shares of ADP, my net annual forward dividends rose by $7.68 due to this dividend announcement.

Expected Dividend Increase #2: Aflac (AFL)

Aflac declared a 5.2% increase in its quarterly dividend per share to $0.61. My net annual forward dividends grew by $1.32 across my 11 shares of AFL from this dividend declaration.

Expected Dividend Increase #3: Main Street Capital (MAIN)

Main Street Capital announced a 2% raise in its monthly dividend per share to $0.26. That was in line with my expectations.

Across my 30 shares of MAIN, my net annual forward dividends increased by $1.80 due to this dividend announcement.

Expected Dividend Increase #4: Merck (MRK)

Merck declared a 4.9% bump in its quarterly dividend per share to $0.85, which was what I anticipated.

My net annual forward dividends rose by $3.04 across my 19 shares of MRK from this dividend declaration.

Expected Dividend Increase #5: Royal Gold (RGLD)

My latest new position, Royal Gold announced a 5.6% increase in its quarterly dividend per share to $0.475. This was about half of the 11.2% hike to $0.50 that I was forecasting. However, I believe this is a prudent move by RGLD. As its recent acquisitions of Sandstorm Gold and Horizon Copper are incorporated into the business and it commits to completely repaying its debt in the next 18 months, I think that dividend growth will reaccelerate again. That's why I think next November could see a return to a double-digit percentage annual dividend growth rate.

Across my six shares of RGLD, my net annual forward dividends edged $0.60 higher due to this dividend announcement.

Expected Dividend Increases for December 2025

Expected Dividend Increase #1: Broadcom (AVGO)

The first payout boost that I'm predicting for next month will be from Broadcom. My best guess is that AVGO will declare an 18.6% hike in its quarterly dividend per share to $0.70. Since AVGO is growing like a weed and has consequently deleveraged (S&P recently upgraded its credit rating from BBB to A-), I would argue this is a realistic projection.

Across my 20 shares of AVGO, my net annual forward dividends would surge by $8.80 from such a dividend declaration.

Expected Dividend Increase #2: Bristol Myers Squibb (BMY)

The next dividend increase that I'm expecting for December will come from Bristol Myers Squibb. I believe that BMY will announce a 3.2% bump in its quarterly dividend per share to $0.64.

My net annual forward dividends would rise by $1.76 across my 22 shares due to such a dividend announcement.

Expected Dividend Increase #3: Mastercard (MA)

The third payout boost that I'm forecasting for next month will be from Mastercard. My guess is that MA will declare a 14.5% hike in its quarterly dividend per share to $0.87.

Across my five shares of MA, my net annual forward dividends would increase by $2.20 from such a dividend declaration.

Expected Dividend Increase #4: Realty Income (O)

The next dividend increase that I'm predicting for December will come from Realty Income. I have a hunch that O will announce a 0.2% increase in its monthly dividend per share to $0.27. It's worth noting that O tends to up its dividend by incremental amounts four times a year and around two percent once a year.

My net annual forward dividends would edge $0.918 higher across my 153 shares due to such a dividend announcement.

Expected Dividend Increase #5: Pfizer (PFE)

The final dividend raise that I'm expecting for next month will be from Pfizer. My best guess is that PFE will increase its quarterly dividend per share to $0.44.

Across my 26 shares of PFE, my net annual forward dividends would grow by $1.04 from such a dividend declaration.

Concluding Thoughts:

My net annual forward dividends grew by $14.44 from the five raises that I received in November. This would be equivalent to investing $481.33 at a 3% net dividend yield.

If my five raises for December 2025 play out as predicted, my net annual forward dividends would rise by $14.718. That would equate to investing $490.60 at a 3% dividend yield.

Discussion:

How was your November 2025 for payout raises?

Did you receive any first-time dividend boosts for the month like I did with RGLD?

I appreciate your readership and welcome your comments below!

November 2025 Dividend Stock Purchases

As I'm writing this blog post, it's currently Friday, November 14th. The high temperature here in Central Wisconsin is set to reach 51 degrees Fahrenheit later today. For this time of the year, this is fantastic weather. Needless to say, I plan on getting outside for a while today!

With that aside, my purchases for November 2025 are likely complete. That's why I will now be highlighting my dividend stock purchases for the month.

Dividend Stock Purchase #1: Carlisle Companies (CSL)

My first dividend stock purchase during the month was another share of Carlisle Companies at a price of $323.69. For my investment thesis, readers can peruse my November 2025 Stock Watch List blog post. This transaction added $4.40 to my net annual forward dividends, which works out to a 1.36% net dividend yield.

Dividend (Distribution) Stock Purchase #2: MPLX LP (MPLX)

The next stock purchase that I completed in November 2025 was 13 units of MPLX LP at an average price per unit of $51.00. Readers may recall that ONEOK was on my watch list for November 2025. However, I felt compelled to pounce on the double-digit percentage distribution hike from MPLX announced earlier this month. This is a position I hadn't added to since last November, so it felt good to up the position. That raised my net annual forward distributions by $55.978, which is equivalent to an 8.44% distribution yield.

Dividend Stock Purchase #3: Novo Nordisk (NVO)

The third dividend stock purchase that I made during the month was 10 more shares of Novo Nordisk at an average cost of $49.43 per share. My investment thesis for this buy can also be found in the November 2025 Stock Watch List blog post that I linked to earlier. This lifted my net annual forward dividends by $15.31, which equates to a 3.10% net dividend yield.

Bonus Dividend Stock Purchase #1: Automatic Data Processing (ADP)

A bonus stock purchase that I completed in November 2025 was another share of Automatic Data Processing at a price of $257.17. Interested readers can find my investment thesis in this September Seeking Alpha article. The transaction increased my net annual forward dividends by $6.16, which works out to a 2.40% dividend yield.

Bonus Dividend Stock Purchase #2: Royal Gold (RGLD)

The other bonus stock purchase that I made during the month was a six share starter position in Royal Gold at a cost per share of $170.58. The gist of my investment thesis is available in this Seeking Alpha listicle or my December 2025 Dividend Stock Watch List blog post. This lifted my net annual forward dividends by $10.80, which is equivalent to a 1.06% net dividend yield.

Concluding Thoughts:

In November, I allocated $2,761.69 in net capital. These purchases lifted my net annual forward dividends/distributions by $92.648, which equates to a 3.35% net dividend/distribution yield.

If my remaining dividend hikes play out as anticipated, this will have also boosted my net passive income by $14.44 (including a raise from Aflac and Royal Gold). That would raise my net annual forward dividends/distributions from approximately $6,510 at the start of the month to around $6,615 to end the month.

Discussion:

How did you or how do you expect to fare with your capital deployment in November 2025?

Have you opened any new positions during the month as I have with RGLD? Do you expect to initiate any new positions?

Thank you for reading. I look forward to your comments below!

December 2025 Dividend Stock Watch List

As I'm writing this blog post, it's currently Saturday, November 8th. The high temperature here in Central Wisconsin is set to reach just 37 degrees Fahrenheit later today, which is to be expected for this time of year.

With that aside, I'm just about done with capital deployment for the month. That makes now a good time to look a few weeks ahead to the dividend stocks that are on my radar for December 2025. Let's get into it!

Dividend Stock #1: Meta Platforms (META)

The first stock on my watch list for next month is Meta Platforms. I haven't added to this position since December 2024. As it stands, I'm planning an article for Seeking Alpha on META for early next week. I will link to it upon publication for those who want to read it.

Overall, I like the stock for most of the same reasons that I did about a year ago. I thought the Q3 2025 results demonstrated the power of META's social media ecosystem. Along with the integration of AI (evidenced by its greater ad impressions and average price per ad rate), this is helping it to deliver strong growth to shareholders. META's S&P credit rating remains AA- with a stable outlook, which indicates the company possesses a fortress balance sheet. The 0.3% dividend yield isn't huge, but the payout is well-covered and should have many years of double-digit percentage growth still to come. Putting the buy case over the top is the fact that the $622 share price is well below my fair value estimate near $750 per share.

Dividend Stock #2: Novo Nordisk (NVO)

The next dividend stock on my watch list for December 2025 is Novo Nordisk. The gist of my investment thesis is basically unchanged from my November 2025 Stock Watch List blog post.

NVO's top-notch drug portfolio and pipeline position it to remain a legitimate contender alongside Eli Lilly (LLY) to lead large and growing markets, including obesity and diabetes. This is why I believe NVO is set up for at least high-single-digit annual earnings growth for the foreseeable future. The 3%+ net dividend yield is also secure and in a position to keep growing. NVO's AA S&P credit rating sets it up to execute strategic bolt-on acquisitions to further complement its portfolio. Finally, the stock is trading at a forward 12-month P/E ratio just above 12 from the current $46 share price. For more perspective, that's well below the 10-year average P/E ratio of 27 and my fair value P/E ratio around 20x.

Dividend Stock #3: ONEOK (OKE)

The third dividend stock that I'm watching for next month is ONEOK. Once again, I'd refer interested readers to my November 2025 Stock Watch List blog post for my investment thesis.

Essentially, OKE has what it takes to deliver mid- to high-single-digit annual OCF per share growth over the next several years. The midstream operator is also financially sound, with a BBB S&P credit rating and a stable outlook. In my view, OKE's 6.1% dividend at the current $68 share price remains viable. The forward 12-month P/OCF ratio of 6.5 is considerably less than the 10-year average P/OCF ratio of 9.7 and $100+ fair value per share estimate.

Dividend Stock #4: Royal Gold (RGLD)

One final stock on my watch list for December 2025 is Royal Gold. This is a newcomer to the series, with me having just opened a position in the stock days ago. Interested readers can find my investment thesis in this Seeking Alpha listicle from September.

There are many things that I like about the precious metals streaming and royalty company. Its business model is low-risk and the profit margins are exceptionally high (50%+). RGLD is positioned to cash in on the ongoing rally in gold and other precious metals. The company also recently closed acquisitions for Sandstorm Gold and Horizon Copper. This added dozens of development assets to its portfolio, as well as over 200 assets in the evaluation and exploration stages to drive growth for many more years. RGLD has been a consistent dividend grower over the years as well, with a payout ratio that can support further payout growth. From the current $177 share price, the stock's forward 12-month P/OCF ratio is 11.3. That's much lower than the 10-year average P/OCF ratio of 20.5 and my fair value per share estimate near $270.

Concluding Thoughts:

So, that's my watch list for the coming weeks. Overall, I plan on allocating capital about evenly between the four stocks. In my view, this provides a great balance of income, growth, and value for my investment objectives. Together, the quartet could provide a yield in high-2% range with strong growth prospects and an attractive value profile.

Last but definitely not least, I would like to thank all United States military veterans for their service to this great nation!

Discussion:

Are any of META, NVO, OKE, or RGLD on your watch list for next month?

If not, what stocks are on your radar for December 2025?

Thanks for reading and please feel free to comment below!