Dividend Increase #1: Genuine Parts Company (GPC)
Genuine Parts Company's (GPC) dividend increase came in just below my expectation of 3.8% or $0.82/share, with the company announcing a 3.2% increase in its quarterly dividend from $0.79/share to $0.815/share.
Across my 6 shares of GPC, this dividend announcement increased my net annual forward dividends by $0.60.
Dividend Increase #2: Prudential Financial (PRU)
Prudential Financial's (PRU) dividend increase also came in just below my expectation of 6.4%, with PRU announcing a 4.5% increase in its quarterly dividend from $1.10/share to $1.15/share.
My net annual forward dividends were boosted by $1.80 across my 9 shares of PRU at the time of the dividend announcement.
Dividend Increase #3: United Parcel Service (UPS)
United Parcel Service's 1.0% increase in its quarterly dividend (from $1.01/share to $1.02/share) came in well below my expectations of a 6.9% dividend increase.
Given the blowout 2020 that UPS delivered to shareholders, I was surprised by UPS's dividend tiny dividend increase.
At any rate, UPS's dividend increase resulted in a $0.16 boost to my net annual forward dividends across my 4 shares of the stock.
Dividend Increase #4: Cisco (CSCO)
Cisco's 2.8% increase in its quarterly dividend (from $0.36/share to $0.37/share) came in below my expectations of a 5.6% increase to $0.38/share.
Across my 11 shares of the stock at the time of CSCO's dividend announcement, my net annual forward dividends increased $0.44.
Increase #5: Home Depot (HD)
As I expected Home Depot (HD) delivered a 10% increase to it shareholders, raising its quarterly dividend from $1.50/share to $1.65/share.
Across my 2 shares of the stock, my net annual forward dividends were boosted by $1.20.
Increase #6: Digital Realty Trust (DLR)
Digital Realty Trust (DLR) announced a 3.4% increase in its quarterly dividend from $1.12/share to $1.16/share just as I expected.
Across my 3 shares of the stock, my net annual forward dividends increased $0.48.
Increase #7: Albemarle (ALB)
Albemarle (ALB) announced a 1.3% increase in its quarterly dividend from $0.385/share to $0.39/share, which was well below my expectations of a 5.2% increase in the quarterly dividend.
Regardless, my net annual forward dividends increased by $0.10 as a result of ALB's dividend announcement across my 5 shares of the stock.
Dividend Freeze #1: PPL Corp (PPL)
PPL Corp (PPL) announced a dividend in line with its previous, which was less than the 0.6% increase in the quarterly dividend that I was expecting (from $0.415/share to $0.4175/share).
Given PPL's shift to a pureplay U.S. utility strategy with the sale of its U.K. utility business, I understand why PPL's management team and Board of Directors opted to simply maintain the dividend at this time.
Expected Dividend Increases for March 2021
Expected Increase #1: W.P. Carey (WPC)
W.P. Carey (WPC) is one of the most consistent dividend payers in my portfolio, which is why I am expecting the company to announce yet another 0.2% increase in its quarterly dividend from $1.046/share to $1.048/share.
Across my 7 shares of the stock, I am forecasting a $0.056 increase in my net annual forward dividends.
Expected Increase #2: Realty Income (O)
Another consistent dividend payer in my portfolio is Realty Income (O), which is why I am forecasting a 0.2% increase in its quarterly dividend from $0.2345/share to $0.2350/share.
This would boost my net annual forward dividends by $0.054 across my 9 shares of the stock.
Expected Increase #3: General Dynamics (GD)
The final dividend increase that I am expecting for March is General Dynamics (GD).
Due to GD's relatively sustainable payout ratios and high-single digit annual earnings growth expected for 2021, I believe that GD will announce a 7.3% increase in its quarterly dividend from $1.10/share to $1.18/share.
Across my 3 shares of the stock, my net annual forward dividends would be boosted by $0.96.
Concluding Thoughts:
I received $4.78 of dividend increases in February, which would require an investment of $119.50 at a 4% yield to replicate.
Furthermore, I am expecting $1.07 in dividend increases in March, which would take $26.75 to replicate at a 4% yield.
Discussion:
How was your February in terms of dividend announcements?
Did you receive any first-time dividend increases during the month as I did with UPS and CSCO?
As always, I appreciate your readership and I look forward to your comments in the comment section below!
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