July 2025 Dividend Income

As I'm writing this blog post, it's Friday, July 25th. The temperature here in Central Wisconsin is set to reach a high of 85 degrees Fahrenheit later today, with a partly sunny forecast. Thus, I'm definitely going to be spending time outside today.

Now that the month is nearly over, I'm going to be highlighting my net dividend income for July 2025. Without further ado, let's dive into it.

Net Dividends Were Nearly $270

In July 2025, I collected $268.61 in net dividends (net of GSK ADR fees). This works out to a 2.5% decrease in net dividends versus the $275.62 received in April 2025.

Against the $256.43 in net dividends that I collected in July 2024, this is equivalent to a 4.7% year-over-year growth rate. Stock sales of dividend payers in these months and redeployment into dividend payers in other months weighed on both my quarterly and year-over-year net dividend growth rates.

In my Charles Schwab account, I received $219.40 in net dividends from 20 companies. The account's dip in income can be entirely attributed to the trimming of 13 shares of Philip Morris International (PM) in April 2025.

I also collected $42.10 in net dividends from six companies in my Fidelity IRA portfolio. This was due to my addition to my Realty Income (O) position in May 2025 and my addition of Merck (MRK) to my IRA in June 2025.

Finally, in my Webull account, I received $7.11 in net dividends from two companies. This was unchanged from April 2025.

Concluding Thoughts:

My net dividends have climbed by nearly 25% year-over-year so far through July 2025. As the year progresses, I anticipate that my net dividend growth will remain in this range for 2025.

Discussion:

How was your dividend income during the month?

Did you collect any first-time dividends in July 2025?

Thanks for your readership and please leave your comments below!

July 2025 Stock Purchases/Sale

As I'm writing this blog post, it's currently Friday, July 18th. The temperature here in Central Wisconsin is anticipated to reach a high of 78 degrees Fahrenheit later today. As if that wasn't already ideal, it's also going to be sunny throughout the day. Needless to say, I plan on spending time outdoors today!

Now that I am likely done deploying capital for July 2025, it would be a good time to go over my stock purchases and my sale for the month. Let's dive into it!

Stock Purchase #1: Amazon (AMZN)

My first purchase in July 2025 was an additional three shares of Amazon at an average price per share of $219.34. Curious readers can read my investment thesis in my July 2025 Stock Watch List blog post or my May Seeking Alpha article.

Stock Purchase #2: Enterprise Products Partners (EPD)

The next stock that I purchased was another 25 units of Enterprise Products Partners at an average cost of $30.94 a unit. Interested readers can check out my investment thesis in my July 2025 Stock Watch List blog post linked above or my May Seeking Alpha article. This transaction added $53.50 to my net annual forward distributions, which equates to a 6.92% net distribution yield.

Stock Purchase #3: Union Pacific (UNP)

The third stock that I added was an additional three shares of Union Pacific at an average price per share of $231.10. Readers can peruse my July 2025 Stock Watch List blog post linked above or my June Seeking Alpha article. That upped my net annual forward dividends by $16.08, which is equivalent to a 2.32% net dividend yield.

Bonus Stock Purchase: Brookfield Asset Management (BAM)

I also purchased another share of Brookfield Asset Management at an average cost of $54.66 a share. Intrigued readers can find my investment thesis in my May 2025 Stock Watch List blog post or my June Seeking Alpha article co-produced with Brad Thomas. This transaction increased my net annual forward dividends by $1.75, which works out to a 3.20% net dividend yield.

Stock Sale: Broadcom (AVGO)

I sold 10 shares of my position in Broadcom (33.3% of my remaining stake) for an average price per share of $280.98. Overall, I'm still a big believer in the long-term prospects of this holding. For me, this was done for the purpose of rebalancing. That reduced my net annual forward dividends by $23.60.

Stock Purchase: Equinix (EQIX)

I purchased three shares of Equinix at an average cost of $761.16 a share. Interested readers can check out my recent Seeking Alpha listicle co-produced with Brad. This purchase lifted my net annual forward dividends by $56.28.

Concluding Thoughts:

In July 2025, I put $2,179.47 in fresh capital to work. Against the $71.33 in net annual forward dividends that were added, this is equivalent to a 3.27% net dividend yield. My capital redeployment also added $32.68 in net annual forward dividends.

Dividend increases received in July 2025 added $27.466 to my net annual forward dividends. This helped my net annual forward dividends to rise from roughly $6,035 to begin July to approximately $6,160 heading into August.

Discussion:

How was your capital deployment this month?

Did you/will you open any new positions in July 2025 as I did with EQIX?

I'm grateful for your readership and look forward to your comments below!

Expected Dividend Increase For August 2025

As I'm writing this blog post, it's Friday, July 11th. The temperature here in Central Wisconsin is set to reach a high of 82 degrees Fahrenheit later today, with thunderstorms expected into the evening.

After having received a few dividend raises for this month, I figured now would be a good time to start looking ahead. As the remaining payout boosts are announced, I'll update this blog post. I will also look ahead to the single dividend raise that I'm expecting for August 2025.

Actual Dividend Increases For July 2025

Distribution Increase #1: Enterprise Products Partners (EPD)

As predicted in my previous blog post of this series, Enterprise Products Partners declared a 1.9% increase in its quarterly distribution per unit to $0.545. My net annual forward dividends jumped $11 across my 275 units from this distribution declaration.

Dividend Increase #2: JPMorgan Chase (JPM)

JPMorgan Chase announced a 7.1% hike in its quarterly dividend per share to $1.50. Across my six shares of JPM, my net annual forward dividends grew by $2.40 due to this dividend announcement.

Dividend Increase #3: U.S. Bancorp (USB)

U.S. Bancorp declared a 4% increase in its quarterly dividend per share to $0.52. My net annual forward dividends edged $2.08 higher across my 26 shares of USB from this dividend declaration.

Dividend Increase #4: Wells Fargo (WFC)

As anticipated, Wells Fargo announced a 12.5% boost in its quarterly dividend per share to $0.45. Across my eight shares of WFC, my net annual forward dividends rose by $1.60 due to this dividend announcement.

Bonus Increase #1: Union Pacific (UNP)

Union Pacific declared a 3% increase in its quarterly dividend per share to $1.38. In 2026 and beyond, I believe UNP will return to high-single-digit annual dividend growth. As a result of this dividend announcement, my net annual forward dividends grew by $1.12 across my seven shares of UNP.

Bonus Increase #2: Essential Utilities (WTRG)

Essential Utilities upped its quarterly dividend per share by 5.3% to $0.3426. Across my 21 shares of WTRG, my net annual forward dividends grew by $1.436 due to this dividend declaration.

Pending Dividend Increase #1: Cummins (CMI)

Cummins hasn't yet announced its next dividend hike. However, I'm maintaining my forecast for a 7.1% increase in its quarterly dividend per share to $1.95. This would be a $2.60 increase in my net annual forward dividends across my five shares of CMI.

UPDATE: CMI upped its quarterly dividend per share by 9.9% to $2. My net annual forward dividends grew by $3.60 across my five shares from this dividend announcement.

Pending Dividend Increase #2: Duke Energy (DUK)

Duke Energy has yet to declare a dividend raise. I continue to expect a 4.3% bump in its quarterly dividend per share to $1.09.

My net annual forward dividends would edge $1.08 higher across my six shares of DUK from such a dividend announcement.

UPDATE: DUK increased its quarterly dividend per share by 1.9% to $1.065. As a result, my net annual forward dividends edged $0.48 higher across my six shares of DUK.

Pending Distribution Increase #3: Energy Transfer (ET)

Energy Transfer hasn't declared a distribution increase yet. However, I'm sticking with my projection of a 0.8% bump in the quarterly distribution per unit to $0.33.

My net annual forward distributions would grow by $2.07 across my 207 units of ET from such a distribution declaration.

UPDATE: As expected, ET upped its quarterly distribution per unit by 0.8% to $0.33. As a result, my net annual forward distributions grew by $2.07 across my 207 units of ET.

Pending Dividend Increase #4: NNN REIT (NNN)

NNN REIT has yet to announce a dividend increase. Yet, I'm standing by my prediction of a 2.6% raise in its quarterly dividend per share to $0.595.

Across my 18 shares of NNN, my net annual forward dividends would grow by $1.08 due to such a dividend announcement.

UPDATE: NNN raised its quarterly dividend per share by 3.4% to $0.60. This increased my net annual forward dividends by $1.44 across my 18 shares of NNN.

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

J.M. Smucker hasn't yet declared a dividend increase. However, I believe that it will declare a 1.9% bump in its quarterly dividend per share to $1.10.

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

UPDATE: SJM declared a 1.9% increase in its quarterly dividend per share to $1.10. Across my three shares, my net annual forward dividends grew by $0.24.

Expected Dividend Increase For August 2025

Expected Dividend Increase: Altria Group (MO)

The one and only dividend increase that I'm expecting for August is a 3.9% raise from Altria Group in its quarterly dividend per share to $1.06.

Across my 24 shares of MO, my net annual forward dividends would rise by $3.84 due to such a dividend announcement.

Concluding Thoughts:

I received 11 dividend/distribution raises in July, which increased my net annual forward dividends by $27.466. This would be equivalent to investing $915.53 at a 3% net dividend yield.

If my raise for August pans out, my net annual forward dividends would grow by $3.84. That would be like investing $128 at a 3% dividend yield.

Discussion:

How has your month been for dividend raises so far?

Have you received any first-time payout boosts in your portfolio this month?

I appreciate your readership and welcome your comments below!

August 2025 Dividend Stock Watch List

As I'm writing this blog post, it's Friday, July 4th. The temperature here in Central Wisconsin is set to reach a high of 92 degrees Fahrenheit, with a sunny forecast.

With that aside, I have likely completed all of my stock purchases for July 2025. As a result, I'm going to be looking at a few stocks on my watch list for next month.

Dividend Stock #1: Alphabet (GOOGL)

First up on my watch list for August 2025 is Alphabet. I have added to my position in this stock multiple times this year and it's still sitting a bit below my 5% to 6% targeted weight. Those interested in my investment thesis can find it in my June 2025 Stock Watch List blog post and this Seeking Alpha article.

The gist of my thesis is that GOOGL has many avenues to drive future growth. These include Gemini, Google Cloud, and YouTube.

The company also announced its first dividend raise. A 5% increase in the quarterly dividend per share to $0.21 was less than I expected. Still, I believe this is the first of many very strong payout boosts to come for GOOGL. The 0.5% yield is modest but the payout ratio is sub-10%. GOOGL's AA+ credit rating from S&P on a stable outlook certainly helps, too. 

At the current $180 share price, the stock is trading at a forward 12-month P/E ratio of just above 18. That's much cheaper than the 10-year average P/E ratio of 24.9 per FAST Graphs and under my fair value estimate of $221 a share.

Dividend Stock #2: Realty Income (O)

Next up on my watch list for next month is Realty Income. Like GOOGL, I have also added to O several times so far in 2025. My weight is a bit off my 5% target. Curious readers can find my investment thesis in my May 2025 Stock Watch List blog post and my recent Seeking Alpha article.

Overall, I believe that the $14 trillion total addressable market in the United States and Europe provides O with a lengthy growth runway. The company is just scratching the surface in Europe, where competition is limited. I'm reasonably confident that this can drive average annual AFFO per share growth in the mid-single-digits over the long run, as has been the case for decades now.

O also benefits from being one of the few net lease REITs with an A-rated balance sheet, which is paramount to its low cost of capital and strong investment spreads. The 5.6% yield is also well-covered and should have room to keep growing.

Best of all, the stock is trading at a forward 12-month P/AFFO ratio of approximately 13 from the current $58 share price. That's leagues below the 10-year average P/E ratio of 18.3 per FAST Graphs and my $71 fair value estimate.

Dividend Stock #3: UnitedHealth Group (UNH)

Last but not least is UnitedHealth Group. I have purchased this twice so far this year. UNH is a smaller position in my portfolio at a 1.4% weight, so I have some room to bring this up to a 2% weight.

To be clear, the stock has had its share of headwinds in 2025. Medicare Advantage cost pressures. The earnings guidance cut in April and then a withdraw of 2025 guidance entirely. Not to mention the resignation of CEO Andrew Witty and the return of former CEO Stephen Helmsley.

Despite all these challenges, I remain a believer in the long-term future of this company. I'm convinced that UNH can return to its targeted 13% to 16% annual adjusted diluted EPS growth rate beyond 2025.

The balance sheet remains A-rated. The 2.8% dividend yield is quite secure and gives UNH a path to return to very robust dividend growth. 

From the current $309 share price, the stock is trading at a forward 12-month P/E ratio below 13. This is significantly below the 10-year average P/E ratio of 20.3 per FAST Graphs and my fair value estimate of $440 a share.

Concluding Thoughts:

There you have it. GOOGL, O, and UNH are three phenomenal businesses. Coincidentally, this is the same trio that was featured in my March 2025 Stock Watch List blog post. I plan on allocating nearly 40% of my capital to GOOGL, with the remainder being about evenly split between O and UNH.

Discussion:

Are any of GOOGL, O, or UNH on your watch list for next month?

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

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