As I'm writing this blog post on Friday, the high temperature is expected to reach 77 degrees Fahrenheit later today. And the next few days are going to remain around this temperature here in Central Wisconsin. That's why I plan on getting outside for at least a few hours this weekend.
With just a few days left in the month of August, now is a great time to look at the dividend raises received for the month and to look ahead to September. Since I am expecting a baker's dozen for dividend increases next month, I will cut to the chase and not elaborate on the assumptions behind my expectations for each raise.
Actual Dividend Increases for August 2022
Dividend Increase #1: Essential Utilities (WTRG)
Essential Utilities announced a 7% increase in its quarterly dividend per share to $0.2870. This was just slightly below my expectation of a 7.2% raise in the quarterly payout per share to $0.2875. Overall, I'm very happy with WTRG as a holding in the 13 months that it has been in my portfolio.
Across my 10 shares of WTRG, my net annual forward dividends edged $0.752 higher due to the dividend hike.
Dividend Increase #2: BP plc (BP)
BP plc declared a 10.1% boost in its quarterly dividend per share to $0.3606. This was far higher than the 3.8% increase to $0.3350 per share that I was anticipating. But the company has been immensely profitable the last few quarters, so it can certainly afford such a raise.
My net annual forward dividends surged $1.452 higher across my 11 shares of BP as a result of the payout hike.
Dividend Increase #3: Simon Property Group (SPG)
Simon Property Group announced a 2.9% increase in its quarterly dividend per share to $1.75, which was a raise that I wasn't expecting. That makes the slight bump that much sweeter as SPG works to restore its dividend to pre-COVID levels.
Across my nine shares of SPG, my net annual forward dividends ripped $1.80 higher due to the dividend increase.
Dividend Increase #4: Main Street Capital (MAIN)
Another bonus raise came from Main Street Capital, which inched its monthly dividend per share up 2.3% to $0.22. I have been very pleased with my position in MAIN over the last two and a half years.
My net annual forward dividends edged $1.44 higher across my 24 shares of MAIN as a result of the dividend raise.
Dividend Increase #5: Altria Group (MO)
Altria Group declared a 4.4% increase in its quarterly dividend per share to $0.94, which was precisely as I expected. MO was one of the very first dividend stocks that I purchased for my portfolio. And while the share price has been stagnant compared to my cost basis, the dividend growth has remained strong.
Across my 24 shares of MO, my net annual forward dividends soared $3.84 higher due to the payout boost.
Expected Dividend Increases for September 2022
Expected Dividend Increase #1: Realty Income (O)
The first dividend raise that I'm expecting in September will come from Realty Income. I believe O will announce a 0.2% increase in its monthly dividend per share to $0.248.
If my prediction is correct, my net annual forward dividends would inch $0.078 higher across my 13 shares of O.
Expected Dividend Increase #2: W.P. Carey (WPC)
The next dividend increase that I'm anticipating next month will be from W.P. Carey. I'm projecting that WPC will declare a 0.2% increase in its quarterly dividend per share to $1.061.
Across my seven shares of WPC, my net annual forward dividends would increase by $0.056 if my estimation is right.
Expected Dividend Increase #3: STORE Capital (STOR)
The third dividend boost that I'm predicting in September will come from STORE Capital. It's my expectation that STOR will announce a 6.5% increase in its quarterly dividend per share to $0.41.
If this pans out, my net annual forward dividends would surge $3.30 higher across my 33 shares of STOR.
Expected Dividend Increase #4: Innovative Industrial Properties (IIPR)
The next dividend hike that I'm expecting for next month will be from Innovative Industrial Properties. I believe that IIPR will declare an 11.4% raise in its quarterly dividend per share to $1.95.
Across my six shares of IIPR, this would boost my net annual forward dividends by $4.80 if my prediction works out.
Expected Dividend Increase #5: American Tower (AMT)
The fifth dividend raise that I'm anticipating in September will come from American Tower. I'm projecting that AMT will announce a 2.8% increase in its quarterly dividend per share to $1.47.
If my projection is correct, my net annual forward dividends would edge higher by $0.48 across my three shares of AMT.
Expected Dividend Increase #6: VICI Properties (VICI)
The next payout boost that I'm predicting for next month will be from VICI Properties. I estimate that VICI will declare a 5.6% bump in its quarterly dividend per share to $0.38.
Across my 33 shares of VICI, my net annual forward dividends would be lifted by $2.64 by such a raise.
Expected Dividend Increase #7: Verizon Communications (VZ)
The seventh dividend increase that I'm expecting in September will come from Verizon Communications. I believe that VZ will announce a 2% raise in its quarterly dividend per share to $0.6525.
If this prediction is fulfilled, my net annual forward dividends would increase by $1.00 across my 20 shares of VZ.
Expected Dividend Increase #8: McDonald's (MCD)
The next payout raise that I'm anticipating for next month will be from McDonald's. I'm projecting that MCD will declare a 7.2% boost in its quarterly dividend per share to $1.48.
Across my three shares of MCD, my net annual forward dividends would be boosted by $1.20 by such a dividend increase.
Expected Dividend Increase #9: Starbucks (SBUX)
The ninth dividend increase that I'm predicting in September will come from Starbucks. I estimate that SBUX will announce an 8.2% hike in its quarterly dividend per share to $0.53.
If this is proven correct, my net annual forward dividends would be lifted $1.60 higher across my 10 shares of SBUX.
Expected Dividend Increase #10: Philip Morris International (PM)
The next payout raise that I'm expecting for next month will be from Philip Morris International. I believe that PM will declare a 0.8% increase in its quarterly dividend per share to $1.26.
Across my 13 shares of PM, my net annual forward dividends would inch $0.52 higher by this dividend announcement.
Expected Dividend Increase #11: Microsoft (MSFT)
The eleventh dividend hike that I'm anticipating in September will come from Microsoft. I'm projecting that MSFT will announce a 9.7% lift in its quarterly dividend per share to $0.68.
If this ends up being right, my net annual forward dividends would increase by $0.72 across my three shares of MSFT.
Expected Dividend Increase #12: Lockheed Martin (LMT)
The next payout raise that I'm predicting for next month will be from Lockheed Martin. I estimate that LMT will declare a 7.1% boost in its quarterly dividend per share to $3.
Across my four shares of LMT, my net annual forward dividends would surge $3.20 higher as a result of this dividend increase.
Expected Dividend Increase #13: U.S. Bancorp (USB)
The thirteenth and final dividend increase that I'm expecting in September will come from U.S. Bancorp. I believe that USB will announce a 6.5% raise in its quarterly dividend per share to $0.49.
Assuming this is correct, my net annual forward dividends would be lifted $1.56 higher across my 13 shares of USB.
Concluding Thoughts:
I received $9.284 in dividend increases from five of my stocks during the month. This equates to investing $265.26 in fresh capital at an average net yield of 3.5%. Looking ahead to September, I am forecasting $21.154 in additional annual forward dividends stemming from dividend raises. That would be the equivalent of investing $604.40 in capital at a 3.5% net dividend yield.
As my portfolio grows larger, so too is the impact of dividend raises on my net annual forward dividends. I'm excited to continue accumulating shares of wonderful businesses to help this figure continue to grow.
Discussion:
How was your August for dividend boosts?
Are you projecting any first-time dividend raises for September like I am with IIPR, MCD, USB, and VICI?
I appreciate your readership and welcome your comments below!
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