October 2024 Dividend Income

As I'm writing this blog post, it's currently Monday, October 28th. The weather here in Central Wisconsin is starting to feel like late-October. The high temperature for today is expected to reach just 50 degrees Fahrenheit.

On that note, the month of October is just about complete. Now that I've received all dividend payments besides the JPMorgan Chase (JPM) dividend set for the last day of the month, I'll be reviewing my net dividend income for October 2024.

Another Decent Month

During October 2024, I received $264.70 in net dividends (including GSK ADR fees). This equates to a 3.2% quarterly growth rate against the $256.43 in net dividends collected in July 2024.

That came in 6.3% less than the $282.51 in net dividends that I received in October 2023. This drop was due to my sale of W.P. Carey (WPC) in October 2023. Realty Income's acquisition of Spirit Realty Capital earlier this year (and the resulting shift from quarterly to monthly dividend income) also played a role. Exiting Medical Properties Trust (MPW) in November 2023 was also behind this reduced dividend income. My sale of Leggett & Platt (LEG) in January 2024 factored into decreased dividend income, too. Finally, sales of Omnicom (OMC) and Eastman Chemical Company (EMN) in May 2024 also negatively impacted dividend income.

I collected $232.30 in net dividends from 25 companies in my Charles Schwab account. Dividend stock purchases and dividend raises in recent months led to a slight uptick in net dividend income in October versus July. I also received my first dividend from Nvidia for the month.

I also collected $21.62 in net dividends from four companies within my Fidelity portfolio. A dividend raise from VICI Properties (VICI) and my purchase of Realty Income (O) stock in August 2024 were to credit for this higher net dividend income during October.

Lastly, I collected $10.78 in net dividends from four companies in my Webull account. Dividend raises from Albemarle (ALB), Iron Mountain (IRM) and Philip Morris International (PM) helped net dividend income edge higher in October.

Concluding Thoughts:

Another month of dividends. Thus far, my net dividend income has risen by 20.1% through the first 10 months of 2024 compared to 2023. As I have for over seven years now, I hope to keep routinely deploying capital in the months and years to come. This should keep propelling those dividends higher in the future.

Discussion:

How was your month for dividend income?

Did you receive any first-time dividends during October 2024 as I did with NVDA?

Thanks for reading and please feel free to comment below!

October 2024 Stock Purchases

As I'm writing this blog post on Friday, October 25th, it's expected to reach a high of 62 degrees Fahrenheit later today. If that wasn't enough, it's also going to be sunny throughout the day. For late-October, this is excellent weather for Central Wisconsin. Not surprisingly, that's why I plan on getting outside for at least an hour or two today.

Now that we're in the last week of October, I'm probably done buying stocks for the month. So, that makes today the perfect time to highlight my stock purchases for October 2024.

Stock Purchase #1: Amazon (AMZN)

The first stock purchase that I executed in October was three shares of Amazon at an average cost per share of $184.53. Curious readers can check out my basic investment thesis for AMZN in my October 2024 Stock Watch List post.

Stock Purchase #2: Enterprise Products Partners (EPD)

My second stock purchase completed during the month was 34 units of Enterprise Products Partners at an average price of $29.27 a unit. This boosted my net annual forward distributions by $71.40, which equates to a 7.18% distribution yield.

Readers can peruse my investment thesis for EPD in the October 2024 Stock Watch List post linked above.

Stock Purchase #3: Visa (V)

The next stock purchase that I carried out in October was two shares of Visa at $277.47 apiece. That transaction increased my net annual forward dividends by $4.16, which works out to a 0.75% net dividend yield.

Again, interested readers can find my investment thesis for V in my October 2024 Stock Watch List post.

Bonus Stock Purchase: Enbridge (ENB)

I had some dividend payments that accumulated in my IRA. So, I put those funds to work and purchased two shares of Enbridge at an average cost per share of $40.61. This lifted my net annual forward dividends by $5.36, which is equivalent to a 6.6% dividend yield.

Readers can examine my investment thesis for ENB in my September 2024 Dividend Stock Watch List post.

Concluding Thoughts:

In October, I deployed $2,184.75 in capital. These buys helped my net annual forward dividends jump by $80.92, which is a 3.70% weighted average net dividend yield.

My net annual forward dividends also rose by $34.092 from the 10 dividend increases that I received during the month. This pushed my net annual forward dividends from around $5,040 going into the month to over $5,155 exiting the month.

Discussion:

How was your capital deployment in October 2024?

Did you start any new positions during the month?

I appreciate your readership and welcome your comments below!

Expected Dividend Increases For November 2024

As I'm writing this blog post on Friday, October 18th, the weather remains decent here in Central Wisconsin. The high temperature is expected to reach 67 degrees Fahrenheit today.

Now that the end of the month is drawing near, it would appropriate to highlight the dividend raises that I have received in October. I'll also reiterate the raises that I still expect but haven't yet received and update those as they are announced. Finally, I'll look ahead to the dividend boosts that I'm expecting for next month.

Actual Dividend Increases For October 2024

Dividend Increase #1: Agree Realty (ADC)

Agree Realty announced a 1.2% increase in its monthly dividend per share to $0.253. Across my 20 shares of ADC, my net annual forward dividends rose by $0.72 from this announcement.

Dividend Increase #2: Lockheed Martin (LMT)

Lockheed Martin announced a 4.8% increase in its quarterly dividend per share to $3.30. This was less than the 6.3% raise to $3.35 that I was anticipating.

Across my four shares of LMT, my net annual forward dividends rose by $2.40 from this announcement.

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

A.O. Smith announced a 6.3% raise in its quarterly dividend per share to $0.34. This was just below my expectation of a 7.8% increase to $0.345 in this series' previous blog post.

My net annual forward dividends grew by $0.96 across my 12 shares of AOS from this announcement.

Pending Dividend Increase #1: AbbVie (ABBV)

AbbVie has yet to announce its dividend increase. However, I'm reiterating my expectation of a 5.8% increase in the quarterly dividend to $1.64.

UPDATE: ABBV announced a 5.8% raise in its quarterly dividend per share to $1.64. Across my 14 shares, my net annual forward dividends rose by $5.04.

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

American Electric Power hasn't declared its next dividend, either. I'm standing by my prediction of a 5.7% raise in the quarterly dividend per share to $0.93, though.

UPDATE: As predicted, AEP upped its quarterly dividend per share by 5.7% to $0.93. My net annual forward dividends rose by $3 across my 15 shares of AEP from this declaration.

Pending Dividend Increase #3: Energy Transfer (ET)

Energy Transfer has yet to announce its distribution increase. I still believe ET will up the quarterly distribution per unit by 0.8% to $0.3225.

UPDATE: As projected, ET increased its quarterly distribution per unit by 0.8% to $0.3225. Across my 102 units of ET, my net annual forward distributions rose by $1.02 from this announcement.

Pending Dividend Increase #4: MPLX LP (MPLX)

MPLX LP hasn't declared its next distribution raise. However, I'm affirming my projection of a 5.9% increase in the quarterly distribution per unit to $0.90.

UPDATE: MPLX boosted its quarterly distribution per unit by 12.5% to $0.9565, crushing my expectations. My net annual forward distributions soared by $13.632 due to this declaration.

Pending Dividend Increase #5: Pinnacle West Capital (PNW)

Pinnacle West Capital has yet to announce its dividend increase. I'm standing by my prediction of a 1.7% raise in the quarterly dividend per share to $0.90.

UPDATE: As expected, PNW upped its quarterly dividend be share by 1.7% to $0.90. Across my seven shares, this lifted my net annual forward dividends by $0.56.

Pending Dividend Increase #6: Starbucks (SBUX)

Starbucks hasn't declared its next dividend increase yet, but I'm still expecting a 7% raise in the quarterly dividend per share to $0.61.

UPDATE: SBUX declared a 7% raise in its quarterly dividend per share to $0.61. Across my 23 shares, this increased my net annual forward dividends by $3.68.

Pending Dividend Increase #7: Visa (V)

Visa has yet to announce its dividend boost. However, I believe that the quarterly dividend per share will be upped by 13.5% to $0.59.

UPDATE: As anticipated, V upped its quarterly dividend per share by 13.5% to $0.59. My net annual forward dividends rose by $3.08 as a result.

Pending Dividend Increase #8: Exxon Mobil (XOM)

Exxon Mobil hasn't declared its next dividend increase. I'm still projecting a 5.3% raise in the quarterly dividend per share to $1, though.

UPDATE: XOM announced a 4.2% increase in its quarterly dividend per share to $0.99. Across my 11 shares, my net annual forward dividends rose by $1.76.

Expected Dividend Increases For November 2024

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

The first dividend increase that I'm predicting in November will be from Automatic Data Processing. I believe that ADP will announce a 10.7% boost in its quarterly dividend per share to $1.55.

Across my 11 shares, my net annual forward dividends would surge higher by $6.60 from such an announcement.

Expected Dividend Increase #2: Aflac (AFL)

The next dividend raise that I'm expecting for next month will come from Aflac. My best guess is that AFL will declare a 6% increase in its quarterly dividend per share to $0.53.

If such a declaration plays out as expected, my net annual forward dividends would increase by $1.32 across my 11 shares of AFL.

Expected Dividend Increase #3: Enbridge (ENB)

The third dividend increase that I'm projecting in November will be from Enbridge. I anticipate that ENB will announce a 3% increase in its quarterly dividend per share (in USD) to $0.69.

Across my 58 shares of ENB, my net annual forward dividends would rise by $4.64 from such an announcement.

Expected Dividend Increase #4: Main Street Capital (MAIN)

The next dividend raise that I'm predicting for next month will come 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 #5: Merck (MRK)

The fifth dividend raise that I'm expecting in November will be from Merck. My best guess is that MRK will announce a 5.1% increase in its quarterly dividend per share to $0.81.

Across my 11 shares of MRK, my net annual forward dividends would rise by $1.76 from such an announcement.

Expected Dividend Increase #6: Simon Property Group (SPG)

The final dividend increase that I'm projecting for next month will come from Simon Property Group. I anticipate that SPG will declare a 2.4% bump in its quarterly dividend per share to $2.10.

My net annual forward dividends per share would grow by $1.80 across my nine shares of SPG due to such a declaration.

Concluding Thoughts:

I received $34.092 of dividend increases from 10 companies in October. This is equivalent to investing $1,136.40 at a 3% dividend yield.

If the seven raises that I'm expecting for next month go as expected, my net annual forward dividends would increase by $19.68. This is like investing $656.00 at a weighted average net yield of 3%.

Discussion:

How was your dividend raise activity in October?

Did you receive any first-time payout raises like I did from MPLX?

Thanks for reading and please feel free to comment below!

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!