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 our 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!

All Treats (And No Tricks) From My Dividend Growth Portfolio

As I'm writing this blog post, it's currently Friday, October 31st. Put another way, it's Halloween. Across the country, kids will be going trick-or-treating. Hopefully, they'll be getting many more treats than tricks!

That brings me to the subject of this brief blog post today. On this Halloween, I can say that my dividend growth portfolio has been delivering all treats and no tricks in recent years. Without further ado, let's get into it.

The Portfolio Is Generating Consistent Dividend Growth

The last time that my portfolio experienced a dividend cut was when I still owned Medical Properties Trust (MPW) in August 2023. American Tower cut its quarterly dividend per share from $1.70 to $1.62 in March 2024. However, on a calendar year basis, the REIT has paid out more dividends each year for 14 consecutive years.

Over my eight years of investing, I have found that the keys to minimizing dividend cuts are as follows:

1. Own companies with track records of generating consistent earnings growth (growing earnings in at least eight or nine out of the past 10 years). Look for forward-looking fundamentals that are likely to translate into continued earnings growth as well. This makes it much easier to hand out payout hikes in the future.

2. Own businesses with payout ratios that are manageable for their respective industries. This provides a buffer for dividends to be maintained in temporary downturns.

3. Own companies with phenomenal balance sheets. At least investment-grade (BBB- or higher). The higher the credit rating, the lower the risk of dividend cuts. Approximately 15% of S&P 500 companies have at least an A- credit rating. Yet, they have accounted for less than 3% of the dividend cuts in recent years.

Concluding Thoughts:

There we have it. In my circumstances, following a few general rules has helped me to greatly reduce the dividend cuts in my portfolio in recent years.

Discussion:

When was the last time your portfolio faced a dividend cut?

I appreciate your readership and look forward to your comments below!

October 2025 Dividend Income

As I'm writing this blog post, it's Friday, October 24th. The high temperature here in Central Wisconsin is set to reach 54 degrees Fahrenheit later today. That's a bit above average for this time of year, so I'll definitely take it.

The month is just about over and I have visibility into the remaining dividends set to be paid. Thus, I will be highlighting my net dividend income for October 2025. Let's dig into it!

Net Dividend Income Surpassed $275

In October 2025, I received $278 in net dividends (including ADR fees for GSK). This was up 3.5% over the $268.61 in net dividends collected in July 2025. Quarterly growth for the first month of each quarter tends to be less since I own less names that pay dividends in these months. Thus, there are less buying opportunities for these baskets of stocks than ones that pay dividends in other months.

On a year-over-year basis, my net dividends were up 5% versus the $264.70 in net dividends that I received in October 2024. Sales of Albemarle (ALB) and Cisco Systems (CSCO) last November, Innovative Industrial Properties (IIPR) last December, Iron Mountain (IRM) in February, and a trim of Philip Morris International (PM) in April each played into this muted dividend growth. That's because these moves couldn't be offset by additions like Rexford Industrial Realty (REXR) last December and adding more to VICI Properties (VICI) in February.

In my Charles Schwab portfolio, I collected $227.93 in net dividends from 20 companies in my portfolio. Dividend raises from the likes of VICI, PM, and Altria Group (MO) were largely to credit for this higher net dividend income.

I also received $42.48 in net dividends from six companies in my Fidelity IRA account. This was also due to the raise from VICI.

Finally, I collected $7.59 in net dividends from two companies in my Webull portfolio. Once again, PM and MO were behind the slight uptick.

Concluding Thoughts:

The dividend growth portfolio continues to make strides. Through October, my net dividends received have surged by nearly 26% versus 2024. Overall, I'm on pace to achieve my goal of at least 25% net dividend growth in 2025. By God's grace, I hope to build on this momentum for many years to come.

Discussion:

How was your October 2025 for dividend income?

Did you receive any first-time dividends during the month?

Thanks for reading and please feel free to comment below!