June 2022 Dividend Stock Purchases

As I'm writing this blog post, it's 88 degrees Fahrenheit. The good news is that humidity is somewhat low at 43%, so the heat isn't particularly oppressive. And over the next week, high temperatures here in Central Wisconsin will drop to the upper-60 degrees Fahrenheit to mid-70 degrees Fahrenheit range. In my opinion, those temperature ranges are ideal for outdoor activity. Thus, I will be getting outside as much as I can in the days ahead.

There is less than a week left in the month of June and I won't be making any stock purchases in the last few days of the month. That's why it's time to take a look at the stock purchases that I made during June 2022.

Starting with my retirement account, the $75.43 in net dividends that I received from my Capital Income Builder (CAIBX) mutual fund were reinvested. Since I left my prior job last July to write for The Motley Fool and Seeking Alpha, dividend reinvestment is the only way my share count of CAIBX will grow moving forward.

My CAIBX share balance increased by 1.21 shares to 180.811 heading into July. This helped my net annual forward dividend income to move $2.58 higher, which works out to a 3.42% net dividend yield.

I started off the month by adding 18 shares to my position in Medical Properties Trust (MPW) at an average cost of $17.53 a share. Interested readers can check out this recently published Motley Fool article on why I like the stock, as well as Realty Income (O). This dividend stock purchase added $20.88 to my portfolio's net annual forward dividend income, which is equivalent to a weighted average net yield of 6.62%.

The next dividend stock that I added to in June was 11 shares of STORE Capital (STOR) at an average cost of $27.40 a share. For a more in-depth dive into why I'm bullish on STOR, readers can check out this Motley Fool article on STOR and Digital Realty Trust (DLR) that was published earlier this month. As a result of this dividend stock purchase, my net annual forward dividends surged $16.94 higher. This equates to a 5.62% net dividend yield.

I also added three shares of Simon Property Group (SPG) to my portfolio at an average cost per share of $111.48. This added $20.40 to my net annual forward dividend income, which works out to a weighted average net yield of 6.10%.

The next dividend stock that I purchased in June was 11 shares of Cisco (CSCO) at an average cost of $45.41 a share. This boosted my net annual forward dividends by $16.72, which is equivalent to a 3.35% net dividend yield.

I also added three shares of Medtronic (MDT) at an average cost per share of $89.51. Curious readers can check out this Motley Fool article from earlier in the month to see why I'm optimistic on MDT, as well as CVS Health (CVS). This bumped my net annual forward dividend income up by $8.16, which equates to a weighted average net yield of 3.04%.

The next dividend stock that I purchased was two shares of International Business Machines (IBM) at an average cost of $135.38 a share. This led my net annual forwards to increase by $13.20, which works out to a 4.88% net dividend yield.

I also added two shares of 3M (MMM) to my portfolio at an average cost per share of $136.01. This boosted my net annual forward dividend income by $11.92, which is equivalent to a weighted average net yield of 4.38%.

The only non-dividend stock that I purchased during June was 0.5 shares of Amazon (AMZN) at an average cost of $102.78 a share. Readers can find out why I added to my position in this stock by reading the April 2022 Dividend Stock Purchases blog post of this series. 

I also added six shares of Altria Group (MO) to my portfolio at an average cost per share of $42.16. For more color on why I made this decision, readers can check out this Motley Fool article on the stock. My net annual forward dividends soared $21.60 higher as a result of this purchase, which equates to an 8.53% net dividend yield.

The next dividend stock purchase that I made during June was six shares of GlaxoSmithKline (GSK) at an average cost of $42.49 a share. I laid out my reasoning for this purchase several weeks back in my June 2022 Dividend Stock Watch List blog post. My net annual forward dividend income increased by $12.00 due to this purchase, which works out to a weighted average net yield of 4.71%.

The final dividend stock purchase that I executed during the month was Kinder Morgan (KMI) at an average cost per share of $16.42. My logic for this decision was also laid out in the June 2022 Dividend Stock Watch List post that I linked to in the paragraph above. My net annual forward dividends grew by $19.98 as a result of this purchase, which is equivalent to a 6.76% net dividend yield.

Concluding Thoughts:

I deployed $3,192.36 in capital during June 2022. My dividend stock purchases for the month added $164.38 in net annual forward dividend income to my portfolio. Along with the $7.014 in increased annual dividend income from dividend increases received during the month, my net annual forward dividends soared from just under $2,790 at the start of the month to a bit more than $2,960 heading into July.

Discussion:

How was your June 2022 for capital deployment?

What stock positions did you add to and did you open any new positions during the month?

As always, thanks for reading and please feel free to comment below!