Expected Dividend Increases for January 2023

As I'm writing this blog post, it's already Christmas Eve. The temperature with wind chill is currently well below zero here in Central Wisconsin.

With the month and the year of 2022 just about over, now is the time to go over the dividend increases that I received in December. I'll also look ahead to the payout boosts that I'm expecting for January 2023.

Actual Dividend Increases for December 2022

Dividend Increase #1: Abbott Laboratories (ABT)

Abbott Laboratories announced an 8.5% hike in its quarterly dividend per share to $0.51. This was slightly higher than the 6.4% increase to $0.50 that I was expecting.

My net annual forward dividends edged upward by $0.96 across my six shares of ABT due to the dividend announcement.

Dividend Increase #2: Amgen (AMGN)

Amgen declared a 9.8% boost in its quarterly dividend per share to $2.13, which was above my estimate of $2.10.

Across my four shares of AMGN, my net annual forward dividends soared $3.04 higher as a result of the dividend declaration.

Dividend Increase #3: American Tower (AMT)

American Tower announced a 6.1% increase in its quarterly dividend per share to $1.56. This was higher than my projection of $1.54.

My net annual forward dividends inched $1.08 higher across my three shares of AMT due to the dividend announcement.

Dividend Increase #4: Broadcom (AVGO)

Broadcom declared a 12.2% hike in its quarterly dividend per share to $4.60, which was in line with my forecast of $4.60.

Across my three shares of AVGO, my net annual forward dividends rocketed $6.00 higher as a result of the dividend declaration.

Dividend Increase #5: Bristol Myers Squibb (BMY)

Bristol Myers Squibb announced a 5.6% increase in its quarterly dividend per share to $0.57. This was just below my expectation of $0.58.

My net annual forward dividends surged $1.80 higher across my 15 shares of BMY due to the dividend announcement.

Dividend Increase #6: CVS Health (CVS)

CVS Health declared a 10% raise in its quarterly dividend per share to $0.605, which was moderately higher than my estimate of $0.59.

Across my seven shares of CVS, my net annual forward dividends increased by $1.54 as a result of the dividend declaration.

Dividend Increase #7: Eastman Chemical (EMN)

Eastman Chemical announced a 3.9% bump in its quarterly dividend per share to $0.79. This was below my projection of $0.81.

My net annual forward dividends edged $0.84 higher across my seven shares of EMN due to the dividend announcement.

Dividend Increase #8: Realty Income (O)

Realty Income declared a 0.2% increase in its monthly dividend per share to $0.2485, which was lower than my forecast of $0.258.

Across my 17 shares of O, my net annual forward dividends inched $0.102 higher as a result of the dividend declaration.

Dividend Increase #9: Pfizer (PFE)

Pfizer announced a 2.5% lift in its quarterly dividend per share to $0.41. This was less than my expectation of $0.43.

My net annual forward dividends increased by $0.68 across my 17 shares of PFE due to the dividend announcement.

Dividend Increase #10: WEC Energy Group (WEC)

WEC Energy Group declared a 7.2% boost in its quarterly dividend per share to $0.78, which was just above my estimate of $0.7775.

Across my eight shares of WEC, my net annual forward dividends surged $1.68 higher as a result of the dividend declaration.

Dividend Increase #11: W.P. Carey (WPC)

W.P. Carey announced a 0.4% increase in its quarterly dividend per share to $1.065. This was better than the $1.063 that I was projecting.

My net annual forward dividends edged $0.112 higher across my seven shares of WPC due to the dividend announcement.

Dividend Increase #12: Mastercard (MA)

Mastercard declared a 16.3% hike in its quarterly dividend per share to $0.57, which was above my forecast of $0.55.

Across my three shares of MA, my net annual forward dividends increased by $0.96 as a result of the dividend declaration.

Dividend Freeze: Union Pacific (UNP)

Union Pacific kept its quarterly dividend per share in line with the previous of $1.30. But since the company typically boosts its dividend every May and the probability of a recession continues to rise, I'm perfectly fine with this dividend announcement.

Expected Dividend Increases for January 2023

Expected Dividend Increase #1: BlackRock (BLK)

The first dividend hike that I am expecting next month is from BlackRock. I believe that BLK will declare a 5.7% increase in its quarterly dividend per share to $5.16.

Across my two shares of BLK, my net annual forward dividends would increase by $2.24 from such an announcement.

Expected Dividend Increase #2: Realty Income (O)

The next payout boost that I'm forecasting in January will be from Realty Income. My projection is that O will announce a 3.8% increase in its monthly dividend per share to $0.258.

My net annual forward dividends would surge $1.938 higher across my 17 shares of O due to such an announcement.

Expected Dividend Increase #3: Alliant Energy (LNT)

The third dividend increase that I am predicting next month is from Alliant Energy. My best guess is that LNT will declare a 7% hike in its quarterly dividend per share to $0.4575.

Across my 13 shares of LNT, my net annual forward dividends would be lifted $1.56 higher from such a declaration.

Expected Dividend Increase #4: Kimberly Clark (KMB)

The next dividend bump that I'm projecting in January will be from Kimberly Clark. I believe that KMB will announce a 1.7% increase in its quarterly dividend per share to $1.18.

My net annual forward dividends would edge $0.32 higher across my four shares of KMB due to such an announcement.

Expected Dividend Increase #5: Comcast (CMCSA)

The fifth payout boost that I am expecting next month is from Comcast. My projection is that CMCSA will declare a 7.4% lift in its quarterly dividend per share to $0.29.

Across my 25 shares of CMCSA, my net annual forward dividends would surge $2.00 higher from such a declaration.

Expected Dividend Increase #6: STAG Industrial (STAG)

The next dividend increase that I'm projecting in January will be from STAG Industrial. My best guess is that STAG will announce a 1.4% bump in its monthly dividend per share to $0.123334.

My net annual forward dividends would edge $0.42 higher across my 21 shares of STAG from such an announcement.

Expected Dividend Increase #7: Tractor Supply (TSCO)

The seventh dividend hike that I am expecting next month is from Tractor Supply. I believe that TSCO will declare an 8.7% boost in its quarterly dividend per share to $1.00.

Across my three shares of TSCO, my net annual forward dividends would inch $0.96 higher from such a declaration.

Expected Dividend Increase #8: Dominion Energy (D)

The final dividend increase that I'm forecasting in January will be from Dominion Energy. My projection is that D will announce a 6.4% hike in its quarterly dividend per share to $0.71.

My net annual forward dividends would surge $1.02 higher across my six shares of D from such an announcement.

Concluding Thoughts:

The 12 dividend raises that I received in December boosted my net annual forward dividends by $18.794. This is equivalent to investing $536.97 in fresh capital at a weighted average dividend yield of 3.5%.

And the eight dividend hikes that I am expecting in January 2023 would raise my net annual forward dividends by $10.458. This would be the same as investing $298.80 at a net dividend yield of 3.5%.

Discussion:

How was your December 2022 for dividend hikes?

Did you receive any first-time payout boosts as I did with MA?

Thanks for reading and I look forward to your comments below!

Recounting My Blessings (Part Two)

As I'm writing this blog post, Christmas is just eight days away. While there's never a bad time to count one's blessings and to be grateful, this is really the best time of the year to do so in my opinion.

As a follow-up to my post from early 2021, here are three more of the miraculous advantages that I have had in my life to this point.

Image Source: Pexels

The First Blessing: Living In The Information Age

Having been born in 1997, I have had all information in recorded human history at my fingertips for practically as long as I can remember. That's what makes it hard for me to grasp the following reality that all generations before those of us who are alive today had to grapple with in the past: The only way to learn something used to be to read books in print form.

With the advent of the search engine and YouTube, anybody with an internet connection can learn anything, at any time, from the comfort of their own home. The dark side to the internet is that it can be a rabbit hole of distractions. But when used to obtain knowledge, there is unlimited upside to the technology. This is what makes it so revolutionary to those who understand its power.

The Second Blessing: The Democratization Of Stock Ownership

Playing into the first blessing, stock ownership has been democratized. This is because, for one, it is now possible for average folks to thoroughly research the underlying fundamentals of stocks and pick winners with the availability of information via the internet.

And with all major brokers (that I can think of) offering no-commission stock trades and fractional share transactions to customers, it has never been easier to get started. This is what makes it such a tragedy that a significant minority of Americans don't own stocks.

Thanks to numerous blessings along with this one, I am approaching the much anticipated $100,000 mark for my investment portfolio. I'm still a bit surprised that I will reach this milestone after just over five years of saving. And it would have been much sooner if it weren't for the approximately $26,000 of books and tuition that I paid for out-of-pocket completing my last two years of undergrad.

The Third Blessing: This Blog

The third blessing loosely ties into the second one. Interestingly, one of the initial motivating factors for this blog was for me to refer readers to Robinhood, so that I could pick up free shares of stock. I only received a couple of free shares of stock from this strategy. But little did I know that this blog would cement my destiny as a writer.

After not having success with getting Robinhood referrals from my website, I turned my attention to writing non-exclusive articles through Seeking Alpha with the hopes of attracting more traffic to my blog and possibly more referrals. Upon writing my first article, an editor advised me to instead submit the article as an exclusive, paid one.

Nearly 200 paid Seeking Alpha articles later, I decided to leave my day job in 2021 and to pursue writing as a career with The Motley Fool and Seeking Alpha. This was such a life-changing move for the better because I believe that I'm now right where I was meant to be as it pertains to a career. If it weren't for this blog, who knows where I would be right now.

Concluding Thoughts:

I'm amazed at the trajectory of my life over the last few years. And it's not lost on me that there has certainly been a divine influence at the center of this remarkable journey. Merry Christmas and Happy Holidays to all. Let's keep pushing and finish out 2022 on a high note!

Discussion:

What are your blessings for which you are most grateful?

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

January 2023 Dividend Stock Watch List

As I'm writing this blog post on Saturday, December 10th, it's currently 32 degrees Fahrenheit here in Central Wisconsin. With the official start of winter less than two weeks away, that's a pretty decent temperature for this area.

With that aside, it's never too early to look ahead to next month. Here are three dividend stocks that I plan on buying, unless they experience massive rallies between now and then.

Image Source: Pexels

Dividend Stock #1: Dollar General (DG)

The first dividend stock on my watch list in January is Dollar General (DG). Interested readers can check out my Motley Fool article on the stock from September for my investment thesis. 

As massive as DG is, there's still plenty of room for future earnings growth. And on top of that earnings growth, the payout ratio is quite low. This makes up for the stock's starting yield of 0.9%. Topping it all off, DG is a decent value at the current $243 share price (as of December 10, 2022).

Dividend Stock #2: American Electric Power (AEP)

The next dividend stock on my watch list next month is American Electric Power (AEP). Readers looking for my investment thesis on the stock (and on Philip Morris International and Enterprise Products Partners) can take a look at my Motley Fool article from June.

Basically, everybody needs electricity. And AEP is one of the most dominant electric utilities in the industry. The stock offers a compelling 3.4% dividend yield that is also well-covered. And AEP isn't unreasonably valued at the current $97 share price (as of December 10, 2022).

Dividend Stock #3: Main Street Capital (MAIN)

The third dividend stock on my watch list for January is Main Street Capital (MAIN). Readers inquiring for my investment thesis on the stock (and for Prudential Financial) can find it in this recent Motley Fool article.

Essentially, MAIN provides capital to underserved businesses in exchange for debt and/or equity. Due to the lack of competition in its space, MAIN does quite well for itself. The business is well-diversified and steadily growing over time. And the 7.4% dividend yield is quite safe by business development company standards. The cherry on top is that MAIN is also somewhat cheap at the current $37 share price (as of December 10, 2022).

Concluding Thoughts:

In just three weeks, December and the year of 2022 will be in the books! I'm looking forward to adding yet another high-quality stock in DG to my dividend growth stock portfolio to start off 2023. And I'm just as excited to be adding to positions that are already well-established in my portfolio.

Discussion:

Are any of DG, AEP, or MAIN on your watch list for January 2023?

If not, what stocks are you thinking about buying next month?

As usual, thanks for reading. Please feel free to comment below!

November 2022 Dividend Income

As I'm writing this blog post, it's Friday, December 2nd. It's hard to believe that there are just four weeks left to this year. Surprisingly, the high temperature is going to reach 40 degrees Fahrenheit today here in Central Wisconsin. That's considerably warmer than the average high of 27 degrees Fahrenheit for December in my area.

With that being said, November is now in the books. I will go over the net dividend income that my portfolio generated for the month of November 2022.

Analysis:

During November 2022, I collected $228.67 in net dividends. This equates to a 9.4% quarterly growth rate over the $209.05 in net dividends that I received in August 2022.

My net dividends were a staggering 63.8% higher compared to the $139.64 in net dividends that were collected in November 2021.

Digging deeper, I received $214.61 in net dividends from 30 companies in my Robinhood account. My net dividends collected within my Webull portfolio amounted to $13.71 from three companies. Finally, I received $0.35 in net dividends from 15 companies in my M1 Finance account.

The net dividends that I collected from August 2022 to November 2022 soared higher by $19.62. This was due to the following activity within my portfolio:

I received an extra $0.40 in net dividends from Starbucks (SBUX) in my Robinhood account, which was the result of the stock's 8.2% dividend hike in September.

My net distributions collected from Energy Transfer (ET) within my Robinhood and Webull portfolios were $9.00 higher. This was due to the company's 15.2% distribution boost in October, as well as my purchase of 26 more units in August.

I received an additional $0.12 in net dividends from Main Street Capital (MAIN) in my Robinhood account, which was the result of a 2.3% dividend increase in the monthly dividend per share in November.

My net dividends collected from British American Tobacco (BTI) within my Robinhood and Webull portfolios were $3.36 more than the prior quarter. This was due to my purchase of six additional shares of BTI in July.

I received an extra $3.30 in net dividends from National Retail Properties (NNN) in my Robinhood account, which was the result of my addition of six shares in August.

My net dividends collected from A.O. Smith (AOS) were $0.24 higher within my Robinhood portfolio. This was due to the stock's 7.1% dividend raise announced in October.

I received an additional $2.84 in net dividends from Texas Instruments (TXN) in my Robinhood account, which was the result of my purchase of another two shares in August and the 7.8% dividend increase in September.

My net dividends collected from Tanger Factory Outlet Centers (SKT) edged $0.22 higher within my Robinhood portfolio. This was due to the 10% hike in the dividend back in October.

I received my first ever payment of $2.56 in net dividends from STAG Industrial (STAG) in my Robinhood account, which was the result of opening a 21 share position in October.

My net distributions collected from Magellan Midstream Partners (MMP) within my Robinhood portfolio were $0.16 more than the prior quarter. This was due to its 1% distribution increase in November.

I received an extra $0.49 in net dividends from Mastercard (MA) in my Robinhood account. This was the result of my purchase of an additional share of the stock in July.

My net dividends collected from Verizon were $0.25 higher within my Robinhood portfolio, which was due to the stock's 2% dividend increase in September.

I received an additional $2.70 in net dividends from Bristol-Myers Squibb (BMY) in my Robinhood account. This was the result of my purchase of five more shares in September.

My net dividends collected from JPMorgan Chase (JPM) were $6.02 lower within my Robinhood and M1 Finance accounts, which was due to the timing of when I received the dividend payment.

Concluding Thoughts:

November 2022 was a record month of net dividend income for a middle of the quarter month. And based on my anticipated dividend increases and capital deployment, this will likely be my last middle of the month quarter under $250 in net dividend income.

Discussion:

How was your dividend income in November 2022?

Did you collect any first-time dividends during the month as I did with STAG?

I appreciate your readership and welcome your comments below!

November 2022 Dividend Stock Purchases

As I'm writing this blog post, it's November 25th. The high temperature for today is expected to reach 41 degrees Fahrenheit here in Central Wisconsin. And tomorrow will top 49 degrees Fahrenheit. Needless to say, I'm thrilled with these temperatures for this time of the year.

Aside from the weather, the time of the month means that I am done with my dividend stock purchases for the month of November 2022. Therefore, I will be going over the purchases that I made this month.

I started off the month of November by adding 1.5 shares of Alphabet (GOOGL) to my portfolio at an average cost per share of $85.88. As I indicated a couple of posts ago in this series, I like GOOGL for its strong market share in digital advertising. And I eventually believe that GOOGL will be a legendary dividend payer.

My first and only stock sale during the month was when I closed my 33 share position in STORE Capital (STOR) across my Robinhood and Webull accounts. This brought in $1,046.05 of capital proceeds, but I lost $54.12 in net annual forward dividends from the sale. It's really a shame that STOR will be sold to Oak Street because it's a classic example of a buy and hold business.

With the proceeds from my sale of STOR, I opened a 20 share position in Spirit Realty Capital (SRC) at a cost of $37.77 a share. This transaction added $53.04 to my net annual forward dividends, which works out to a net dividend yield of 7.02%. I was drawn to SRC because it is a fairly comparable business relative to STOR in terms of quality. The high-yield is well covered and I believe the dividend will grow in the mid-single-digits annually over the long haul.

I also used the proceeds from my sale of STOR to add 21 shares to my stake in Medical Properties Trust (MPW) at an average cost per share of $11.00. This purchase boosted my net annual forward dividends by $24.16, which is equivalent to a 10.46% weighted average dividend yield. MPW was on my November 2022 watch list because of its well-covered and high-yielding dividend and cheap valuation.

My next purchase was 1.5 shares of Amazon (AMZN) at a cost per share of $90.90. Similar to GOOGL, I believe that AMZN's dominance in cloud computing and e-commerce will eventually lead to a generous dividend policy from the company.

I added two shares of Microsoft (MSFT) to my portfolio at an average cost of $239.38 a share. This transaction bumped up my net annual forward dividends by $5.44, which is a 1.14% net dividend yield. As I explained in my November 2022 dividend stock watch list post, MSFT is a wonderful growth stock trading at a fair valuation. This was the logic behind my purchase decision.

My final dividend stock purchase of the month was four shares of Realty Income (O) at a cost per share of $64.54. As was the case with MPW and MSFT, O was on my watch list for the month. This transaction increased my net annual forward dividends by $11.904, which equates to a 4.61% dividend yield.

Concluding Thoughts:

Factoring out my sale of STOR, I deployed $942.42 in capital during November 2022. Given the $40.424 in net annual forward dividends that I added through purchases for the month, the weighted average dividend yield on my investments was 4.29%.

Discussion:

How was your November 2022 for capital deployment?

Did you close any positions during the month as I did with STOR? Did you open any new positions as I did with SRC?

Thanks for reading and feel free to comment below!

Expected Dividend Increases for December 2022

As I'm writing this blog post, it's already November 19th. The temperatures have really cooled off here in Central Wisconsin, with the high temperature reaching just 20 degrees Fahrenheit today. But in the next few days, we will see high temperatures in the upper-30 degrees Fahrenheit range.

With all dividend raises, I will turn my attention to the dividend increases received this month. And I'll look ahead to the dividend boosts that I'm expecting for December 2022.

Actual Dividend Increases for November 2022

Dividend Increase #1: Main Street Capital (MAIN)

Main Street Capital announced a 2.3% increase in its monthly dividend per share to $0.225. For context, this was precisely what I predicted in the previous post of this series.

This boosted my net annual forward dividends by $1.44 across my 24 shares of MAIN.

Dividend Increase #2: Simon Property Group (SPG)

Simon Property Group declared a 2.9% raise its quarterly dividend per share to $1.80. Again, this was in line with my forecast. 

Across my nine shares of SPG, my net annual forward dividends surged $1.80 higher from this dividend declaration.

Dividend Increase #3: KeyCorp (KEY)

KeyCorp announced a 5.1% hike in its quarterly dividend per share to $0.205, which was what I projected.

My net annual forward dividends increased by $1.56 across my 39 shares of KEY due to this dividend announcement.

Dividend Increase #4: Aflac (AFL)

Aflac declared a 5% raise in its quarterly dividend per share to $0.42. This was just below my expectation of a 7.5% increase in the quarterly dividend per share to $0.43.

Across my 11 shares of AFL, my net annual forward dividends edged $0.88 higher as a result of this dividend declaration.

Dividend Increase #5: Merck (MRK)

Merck declared a 5.8% hike in its quarterly dividend per share to $0.73, which was what I expected.

Across my 11 shares of MRK, my net annual forward dividends rose by $1.76.

Expected Dividend Increases for December 2022

Expected Dividend Increase #1: Union Pacific (UNP)

The first dividend hike that I am expecting in December is from Union Pacific. I believe that UNP will announce a 7.7% increase in its quarterly dividend per share to $1.40. This would be good enough once a year, but UNP has a track record of delivering two raises annually in most years.

My net annual forward dividends would be boosted by $1.20 across my three shares of UNP if this prediction pans out.

Expected Dividend Increase #2: Abbott Laboratories (ABT)

The next payout increase that I'm projecting will come from Abbott Laboratories. My best guess is that ABT will declare a 6.4% raise in its quarterly dividend per share to $0.50.

Across my six shares of ABT, my net annual forward dividends would inch $0.72 higher if this forecast is proven correct.

Expected Dividend Increase #3: Amgen (AMGN)

The third dividend boost that I am expecting in December is from Amgen. I believe that AMGN will announce an 8.2% increase in its quarterly dividend per share to $2.10.

My net annual forward dividends would be lifted by $2.56 across my four shares of AMGN if this prediction is accurate.

Expected Dividend Increase #4: American Tower (AMT)

The next dividend increase that I'm anticipating will come from American Tower. My belief is that AMT will declare a 4.8% raise in its quarterly dividend per share to $1.54. With typically four hikes in a year, this would be a solid growth rate.

Across my three shares of AMT, my net annual forward dividends would move $0.84 higher if this forecast is right.

Expected Dividend Increase #5: Broadcom (AVGO)

The fifth dividend raise that I am expecting in December is from Broadcom. I believe that AVGO will announce a 12.2% increase in its quarterly dividend per share to $4.60.

My net annual forward dividends would be boosted by $6.00 across my three shares of AVGO if this prediction is correct.

Expected Dividend Increase #6: Bristol Myers Squibb (BMY)

The next dividend increase that I'm projecting will come from Bristol Myers Squibb. My best guess is that BMY will declare a 7.4% hike in its quarterly dividend per share to $0.58.

Across my 15 shares of BMY, my net annual forward dividends would surge $2.40 higher from such a declaration.

Expected Dividend Increase #7: CVS Health (CVS)

The seventh payout raise that I am expecting in December is from CVS Health. I believe that CVS will announce a 7.3% increase in its quarterly dividend per share to $0.59.

My net annual forward dividends would increase by $1.12 across my seven shares of CVS from such an announcement.

Expected Dividend Increase #8: Dominion Energy (D)

The next dividend hike that I'm anticipating will come from Dominion Energy. My belief is that D will declare a 6% raise in its quarterly dividend per share to $0.7075.

Across my six shares of D, my net annual forward dividends would be lifted $0.96 higher from such a declaration.

Expected Dividend Increase #9: Eastman Chemical (EMN)

The ninth dividend raise that I am projecting in December is from Eastman Chemical. My best guess is that EMN will announce a 6.6% increase in its quarterly dividend per share to $0.81.

My net annual forward dividends would surge $1.40 higher across my seven shares of EMN from such an announcement.

Expected Dividend Increase #10: Realty Income (O)

Realty Income kept its monthly dividend per share in line with the previous payout of $0.248. This was below my expectation of a 4% raise to $0.258. But I believe this was more an issue of timing than anything and that my prediction will come to fruition next month.

Across my 17 shares of O, this would be a $2.04 lift to my net annual forward dividends, if my forecast is correct.

Expected Dividend Increase #11: Pfizer (PFE)

The eleventh dividend hike that I am expecting in December will come from Pfizer. I believe that PFE will declare a 7.5% raise in its quarterly dividend per share to $0.43.

My net annual forward dividends would be boosted by $2.04 across my 17 shares of PFE from such a declaration.

Expected Dividend Increase #12: WEC Energy Group (WEC)

The next dividend increase that I'm projecting is from WEC Energy Group. My belief is that WEC will announce a 6.9% hike in its quarterly dividend per share to $0.7775.

Across my eight shares of WEC, my net annual forward dividends would be lifted by $1.60 from such an announcement.

Expected Dividend Increase #13: W.P. Carey (WPC)

The thirteenth and final payout raise that I am expecting in December will come from W.P. Carey. My best guess is that WPC will declare a 0.2% increase in its quarterly dividend per share to $1.063.

My net annual forward dividends would edge $0.056 higher across my seven shares from such a declaration.

Expected Dividend Increase #14: Mastercard (MA)

Mastercard didn't announce a dividend hike in November. However, I am reiterating my projection for a 12.2% lift to the quarterly dividend per share to $0.55.

My net annual forward dividends would increase by $0.72 from such an announcement across my three shares of MA.

Concluding Thoughts:

The five dividend raises that I received in November have lifted my net annual forward dividends by $7.44. This equates to investing $212.57 in fresh capital at a 3.5% weighted average dividend yield.

And the fourteen dividend hikes that I am expecting in December 2022 would raise my net annual forward dividends by $23.656, if proven correct. This works out to investing $675.89 in fresh capital at a 3.5% net dividend yield. As the months and years unfold, the power of compounding is working more and more in my favor. Needless to say, I feel very blessed to have started investing as early as I did!

Discussion:

How was your November 2022 for payout increases?

Are you expecting any first-time dividend hikes next month as I am with UNP?

Thank you for reading! Please leave your comments below.

December 2022 Dividend Stock Watch List

As I'm writing this blog post on November 12th, the high temperature is expected to reach just 33 degrees Fahrenheit today here in Central Wisconsin. This is a bit below the average high temperature for this time of the year. The dip in temperature means that over the next few months, I will largely have to exercise indoors.

Given that it is now the middle of the month, December is right around the corner. With that in mind, I will be going over three stocks that I will be buying next month, absent huge rallies in the weeks ahead.

Image Source: Pexels

Dividend Stock #1: Tractor Supply (TSCO)

The leading rural lifestyle retailer, Tractor Supply (TSCO), is the first stock on my watch list for December. For more details on why TSCO is an appealing buy for dividend growth investors, interested readers can check out my recent Motley Fool article on the stock.

But it basically comes down to a few key points. First, TSCO's customer base is growing as more individuals consider moving from urban areas to small towns or rural areas. Second, the market-beating 1.8% dividend yield is also well-covered. Third and finally, TSCO is reasonably valued at the current $209 share price (as of November 12, 2022).

Dividend Stock #2: FedEx (FDX)

The second dividend stock on my watch list for next month is the logistics giant, FedEx (FDX). My investment thesis for FDX remains unchanged from a few months ago when I wrote about the stock (as well as Bristol-Myers Squibb and British American Tobacco) in a Motley Fool article.

As more consumers turn to e-commerce for convenience, more packages will need to be shipped. And as a leading package delivery company, FDX will be one of the biggest beneficiaries of this increased demand. Along with a low dividend payout ratio, this positions FDX well to be a great dividend growth stock. And the valuation is especially compelling at the current $176 share price (as of November 12, 2022).

Dividend Stock #3: Union Pacific (UNP)

The final dividend stock on my watch list for December is the railroad operator, Union Pacific (UNP). The investment thesis for UNP is the same as it was back in July when I last covered it (and UnitedHealth Group) in a Motley Fool article.

For the past two hundred years, railroads have been the backbone of the U.S. economy. And there's little reason to believe that will change anytime soon. Union Pacific's status as a leading railroad operator and its low payout ratio should translate into solid dividend growth in the years to come. Best of all, the stock's market-beating 2.4% dividend yield comes at a sensible valuation at the current $218 share price (as of November 12, 2022).

Concluding Thoughts:

November will be over in the blink of an eye. And we will be in the final month of 2022. I look forward to yet another month of adding to my ownership in quality businesses!

Discussion:

Are any of TSCO, FDX, and/or UNP on your watch list for next month?

If not, what stocks are you considering for December 2022?

As always, I appreciate your readership. Please leave your comments below!

October 2022 Dividend Income

As I'm writing this blog post on Saturday, November 5, it is currently just 40 degrees Fahrenheit and raining. Over the next few days, temperatures here in Central Wisconsin will only reach into the low-50 degrees Fahrenheit. But at least that is meaningfully higher than the 40 degrees Fahrenheit average high for November.

Now that October 2022 is in the books, it is time to take a look at my net dividend income for the month. Spoiler alert: It was yet another record for the first month of the quarter.

I collected $204.57 in net dividends during October 2022. This equates to a 16.2% growth rate over the $176.10 in net dividends received in July 2022.

Compared to the $114.59 in net dividends that I collected in October 2021, this works out to a 78.5% year-over-year growth rate.

Digging deeper, I received $193.69 in net dividends from 27 stocks within my Robinhood portfolio. I also collected $10.71 in net dividends from five stocks in my Webull account. Finally, I received $0.17 in net dividends from eight stocks within my M1 Finance portfolio.

My net dividends were lifted by $28.47 from July 2022 to October 2022, which was the result of the following activity across my accounts:

I received an extra $6.02 in net dividends from JPMorgan Chase (JPM) in my Robinhood and M1 Finance portfolios, which was due to the timing of the dividend payment. This is because it is always paid at the end of the first month, but sometimes isn't reflected in my brokerage account until the day after.

My net dividends collected from American Tower (AMT) increased by $0.12 within my Robinhood account, which was the result of the 2.8% dividend increase in the quarterly dividend per share announced in September.

I received an additional $0.26 in net dividends from U.S. Bancorp (USB) in my Robinhood portfolio. That was due to the 4.3% bump in the quarterly dividend per share declared back in September.

My net dividends collected from STORE Capital (STOR) were $0.82 higher within my Robinhood and Webull accounts, which was the result a 6.5% hike in the quarterly dividend per share in September.

I received an extra $0.02 in net dividends from W.P. Carey (WPC) in my Robinhood portfolio. This was due to the 0.2% increase in the quarterly dividend per share back in September.

My net dividends collected from Innovative Industrial Properties (IIPR) were $0.30 more than the prior quarter within my Robinhood account, which was the result of a 2.9% bump in the quarterly dividend per share.

I received an additional $0.12 in net dividends from Main Street Capital (MAIN) in my Robinhood portfolio. This was due to the 2.3% increase in its monthly dividend per share in August.

My net dividends collected from Philip Morris International were $4.07 higher than in the previous quarter within my Robinhood and Webull accounts. This was the result of a 1.6% raise in the quarterly dividend per share back in September and my purchase of three more shares during that month.

I received an extra $6.36 in net dividends from Altria Group (MO) in my Robinhood and Webull portfolios. This was due to a 4.4% increase in the quarterly dividend per share in August and my purchase of six shares back in June after the ex-dividend date.

My net dividends collected from Merck (MRK) were $2.07 higher within my Robinhood account, which was the result of my purchase of three more shares in July.

I received an additional $1.34 in net dividends from GlaxoSmithKline (GSK) in my Robinhood portfolio. This was due to the purchase of six more shares in June.

My net dividends collected from VICI Properties (VICI) were $3.87 more than in the prior quarter within my Robinhood account, which was the result of the dividend hike in September and my purchase of eight more shares in July.

I received an extra $3.10 in net dividends from Iron Mountain (IRM) in my Robinhood and Webull portfolios. This was due to my purchase of five more shares back in July.

Concluding Thoughts:

October was the first time that I surpassed $200 in net dividend income in what have always been my weakest months of the year (i.e., January, April, July, and October). I'm looking forward to continuing to receive dividend raises from my portfolio and to add to my holdings to keep my net dividends moving higher over time!

Discussion:

How did your dividend income fare in October 2022?

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

Thanks for reading. I look forward to your comments below!

October 2022 Dividend Stock Purchases

As I'm writing this blog post on Oct. 28, the temperature is expected to reach a high of 61 degrees Fahrenheit here in Central Wisconsin. And the weather will be just as warm over the next few days. That's why I plan on definitely getting outside this weekend!

Weather aside, I have made all of the dividend stock purchases that I plan on making for this month. Thus, I will be detailing my dividend stock purchases for the month of October 2022.

As I did in September and in the months prior, I added to my position in the non-dividend stock, Amazon (AMZN). I purchased a single share of the stock at a cost of $115.04.

I also boosted my stake in the other non-dividend stock in my portfolio, which is Alphabet (GOOGL). I acquired another 1.5 shares in GOOGL at an average cost of $97.39 a share.

My first dividend stock purchase during the month was 21 shares of STAG Industrial (STAG) at an average price per share of $29.70. As I alluded to in my October 2022 Dividend Stock Watch List post, STAG is a high-yielding real estate investment trust with a safe dividend. The company also is steadily growing and trading at a cheap valuation. This dividend stock purchase added $30.66 to my net annual forward dividend income, which equates to a 4.87% net dividend yield.

My only sale for the month was 15 shares of Haleon (HLN) at an average price of $6.12 a share. HLN is the consumer health division that was recently spun-off from GlaxoSmithKline (GSK), which will eventually pay out 30% to 50% of its profits via a dividend. While the company has a solid brand portfolio, I feel as though I already have a strong enough bench of consumer staples.

My next dividend stock purchase during October was three shares of Medifast (MED) at an average cost per share of $118.30. Like STAG, this was also on my watch list for the month. The $19.68 boost in net annual forward dividends by this transaction is equivalent to a 5.55% weighted average yield.

The third and final dividend stock purchase was Comcast (CMCSA), which was also on my watch list for October. I added eight shares of the stock to my portfolio at an average cost of $33.84 a share. This buy added $8.64 in net annual forward dividends to my portfolio, which works out to a 3.19% net dividend yield.

Concluding Thoughts:

Excluding my sale of HLN, I deployed $1,418.62 of capital during the month. This equates to a weighted average net yield of 4.16%.

I also received a $25.12 boost in annual net forward dividends via dividend increases during the month. My net annual forward dividends surged from just over $3,175 heading into the month to just over $3,260 by the end of the month.

Discussion:

How was your capital deployment for the month?

Did you open any new positions in October 2022 as I did with my purchase of STAG?

Thank you for reading. Please feel free to comment below!

Expected Dividend Increases for November 2022

As I'm writing this blog post, the temperature is expected to reach a high of 76 degrees Fahrenheit today (Saturday, October 22) here in Central Wisconsin. And with the next few days set to be about as warm, I am itching to get outside for at least a few hours between now and then.

Given that we're nearing the end of October, it's time to look at the dividend raises that I received for the month. And it would be fitting to also go over the dividend hikes that I'm expecting for next month.

Actual Dividend Increases for October 2022

Dividend Increase #1: Tanger Factory Outlet Centers (SKT)

Tanger Factory Outlet Centers announced a 10% hike in its quarterly dividend per share to $0.22. This was a raise that I wasn't actually expecting. But SKT's fundamentals are solid, so I don't believe the raise was unjustified.

Across my 11 shares of SKT, my net annual forward dividends surged $0.88 higher due to this dividend announcement.

Dividend Increase #2: A.O. Smith (AOS)

A.O. Smith declared a 7.1% increase in its quarterly dividend per share to $0.30. Even though AOS has historically raised its dividend in October, I likely missed it because I had just opened a position back in April. That's not too shabby of a payout hike in this environment in my opinion.

This dividend declaration lifted my net annual forward dividends by $0.96 across my 12 shares of AOS.

Dividend Increase #3: McDonald's (MCD)

McDonald's hiked its quarterly dividend per share by 10.1% to $1.52, which was moderately more than the 7.2% raise to $1.48 that I was anticipating. That's one heck of a first-time raise from MCD, which I suspect will be the first of many more.

Across my three shares of MCD, my net annual forward dividends were boosted by $1.68 as a result of this dividend announcement.

Dividend Increase #4: Crown Castle International (CCI)

Crown Castle International declared a 6.5% increase in its quarterly dividend per share to $1.565. This was a bit lower than the 8.2% increase to $1.59 that I was projecting. Overall, that's still not a bad raise.

This dividend declaration led my net annual forward dividends higher by $1.52 across my four shares of CCI.

Dividend Increase #5: Magellan Midstream Partners (MMP)

Magellan Midstream Partners announced a 1% bump in its quarterly distribution per unit to $1.0475, which was what I forecasted. It doesn't take much of a raise from an ultra-high-yielding blue chip like MMP to make me happy, so I was content with this raise for sure.

Across my 16 units of MMP, my net annual forward distributions edged upward by $0.64 due to this announcement.

Dividend Increase #6: Pinnacle West Capital (PNW)

Pinnacle West Capital declared a 1.8% increase in its quarterly dividend per share to $0.865. This was just below the raise to $0.87 that I was predicting.

This dividend declaration inched my net annual forward dividends higher by $0.42 across my seven shares of PNW.

Dividend Increase #7: American Electric Power (AEP)

American Electric Power announced a 6.4% increase in its quarterly dividend per share to $0.83. 

My net annual forward dividends surged $2.20 higher across my 11 shares of AEP.

Dividend Increase #8: Visa (V)

V announced a 20% hike in its quarterly dividend per share to $0.45. This came in well above my expectation of a 14.7% boost to the dividend.

Across my five shares of V, my net annual forward dividends increased by $1.50.

Dividend Increase #9: Exxon Mobil (XOM)

Exxon Mobil declared a 3.4% increase in its quarterly dividend per share to $0.91. This was just below my expectation of a raise to $0.92. But given the volatility of the industry and the need to not draw more negative political attention to itself amid the high gas prices, XOM's conservatism makes sense.

As a result of the payout bump, my net annual forward dividends were lifted $1.32 higher across my 11 shares of XOM.

Dividend Increase #10: AbbVie (ABBV)

AbbVie announced a 5% hike to its quarterly dividend per share to $1.48, which was a bit lower than my forecast of a raise to $1.50. With Humira losing exclusivity in the U.S. in just a few months, it's probably better to be on the safe side with an increase rather than to be too generous.

Across my seven shares of ABBV, my net annual forward dividends surged $1.96 higher due to the dividend boost.

Dividend Increase #11: Energy Transfer (ET)

Energy Transfer declared a 15.2% increase in its quarterly distribution per unit to $0.265. ET is steadily making progress in restoring its quarterly distribution per unit to $0.305. In fact, the company will likely do just that with its next distribution hike.

My net annual forward distributions soared $12.04 higher across my 86 units of ET as a result of the distribution boost.

Expected Dividend Increases for November 2022

Expected Dividend Increase #1: Main Street Capital (MAIN)

The first dividend raise that I'm expecting in November will be from Main Street Capital. I expect a 2.3% increase in the monthly dividend per share to $0.225.

If this prediction proves to be correct, my net annual forward dividends would be boosted by $1.44 across my 24 shares of MAIN.

Expected Dividend Increase #2: Simon Property Group (SPG)

The next dividend bump I'm anticipating next month is from Simon Property Group. I believe that SPG will announce a 2.9% raise in its quarterly dividend per share to $1.80.

Across my nine shares of SPG, my net annual forward dividends would be lifted $1.80 higher, if this raise manifests itself.

Expected Dividend Increase #3: Realty Income (O)

The third dividend hike that I'm projecting in November will be from Realty Income. I predict that O will declare a 4% increase in its monthly dividend per share to $0.2580.

If this pans out, my net annual forward dividends would surge $1.56 higher across my 13 shares of O.

Expected Dividend Increase #4: Merck (MRK)

The next dividend raise that I'm expecting next month is from Merck. My best guess is that MRK will announce a 5.8% hike in its quarterly dividend per share to $0.73.

Across my 11 shares of MRK, my net annual forward dividends would increase by $1.76 from such a raise.

Expected Dividend Increase #5: KeyCorp (KEY)

The fifth payout bump that I'm anticipating in November will be from KeyCorp. I believe that KEY will declare a 5.1% raise in its quarterly dividend per share to $0.205.

If this is proven right, my net annual forward dividends would be boosted by $1.56 across my 39 shares of KEY.

Expected Dividend Increase #6: Aflac (AFL)

The next dividend hike that I'm projecting next month is from Aflac. I predict that AFL will announce a 7.5% increase in its quarterly dividend per share to $0.43.

Across my 11 shares of AFL, my net annual forward dividends would be lifted by $1.32 from this dividend raise.

Expected Dividend Increase #7: Mastercard (MA)

The seventh dividend increase that I'm expecting in November will be from Mastercard. MA may revert to its pre-2021 pattern of declaring a dividend hike in December rather than November. But regardless, my best guess is that MA will declare a 12.2% boost in its quarterly dividend per share to $0.55.

If this turns out to be accurate, my net annual forward dividends would increase by $0.72 across my three shares of MA.

Concluding Thoughts:

The 11 dividend increases that I received in October have boosted my net annual forward dividends by $25.12. This is equivalent to investing $717.71 in fresh capital at a 3.5% weighted average dividend yield.

Looking ahead to next month, my net annual forward dividends would soar $10.16 higher, if my predictions are on point.

Discussion:

How was your October 2022 for dividend increases?

Did you receive any first-time hikes from your holdings as I did with AOS, MCD, and CCI?

I appreciate your readership and welcome your comments below!

November 2022 Dividend Stock Watch List

As I'm writing this blog post, it's snowing here in Central Wisconsin. But since the temperature is 38 degrees Fahrenheit, the snow is luckily melting before it hits the ground. Hooray to no snow cover!

With that aside, it's already mid-October. That means it's probably a good idea to look ahead to the stocks that I will consider buying in November. Here are the three that are looking most favorable for my investment goals at this time.

Image Source: Pexels

Dividend Stock #1: Realty Income (O)

The first stock on my watch list is none other than Realty Income (O). For readers seeking a more in-depth explanation of why I like O so much, I would refer them to my Motley Fool article from earlier this month on the stock (as well as Procter & Gamble and Magellan Midstream Partners).

Basically, O has immense scale and it only acquires the best properties. The company also has plenty of room for future growth and pays a well-covered 5.3% dividend yield. Yet it is trading at a forward price-to-AFFO-per-share ratio just over 14 at the current $56 share price (as of October 14, 2022). This should provide a compelling combination of income and low-double-digit annual total return potential over the long haul.

Dividend Stock #2: Medical Properties Trust (MPW)

Medical Properties Trust (MPW) is the other REIT that's on my watch list for the month. Readers looking for a more complete rationale on why I like MPW should check out my recent Motley Fool article on MPW (and W.P. Carey).

There are concerns about the financial condition of MPW's largest tenant, Steward Health Care System, which comprises 27.8% of the company's total annualized base rent (page 32 of 51 of MPW's recent 10-Q). But I am confident that the tenant will recover in the quarters ahead. And even if the tenant doesn't, this risk appears to be more than priced in at the current $11 share price. That's because MPW is trading at a valuation of less than eight times its trailing-twelve-month AFFO per share.

Dividend Stock #3: Microsoft (MSFT)

The final stock rounding out my watch list for November is Microsoft (MSFT). With its Office suite of products, Azure cloud computing service, professional networking website and app LinkedIn, and video gaming brand Xbox, MSFT has something of use for everyone: Businesses, individuals, and governments.

Given its diversified and recurring streams of revenue, it shouldn't be surprising that analysts are anticipating 14.9% annual adjusted diluted EPS growth over the next five years from MSFT. Along with its low dividend payout ratio, this should fuel plenty of dividend growth moving forward.

And shares of the stock can be scooped up at a forward price-to-earnings (P/E) ratio of just 22.6 at the current $228 share price. That's not an excessive valuation to pay for arguably one of the top five to top 10 businesses on the planet.

Concluding Thoughts:

Before we know it, October will be in the books. I'll have added to my positions in Comcast (CMCSA) and Medifast (MED), as well as opened a stake in Stag Industrial (STAG) by that point. And I'm looking forward to likely bolstering my ownership in O, MPW, and MSFT in November.

Discussion:

Are any of O, MPW, and/or MSFT on your watch list for November?

If not, what stocks are you considering buying next month?

Thanks for reading. I look forward to your comments below!

September 2022 Dividend Income

As I'm writing this blog post, the temperature has dipped to a high of just 48 degrees Fahrenheit on Friday, October 7, here in Central Wisconsin. The good news is that temperatures will reach into the high-60 degrees Fahrenheit over the next several days.

With that aside, I'll detail the dividend income that my portfolio generated during September 2022.

During the month of September 2022, I collected $343.64 in net dividends. Against the $332.86 in net dividends that I received in June 2022, this is a 3.2% quarterly growth rate.

Stacked up to the $229.54 in net dividends collected for September 2021, this equates to a 49.7% year-over-year growth rate.

Digging deeper, I received $252.81 in net dividends from 44 stocks in my Robinhood portfolio. I also collected $75.94 in net dividends from my Capital Income Builder (CAIBX) mutual fund within my retirement account. My net dividends received from six stocks in my Webull portfolio amounted to $14.40. Finally, I received $0.49 from 23 stocks within my M1 Finance account.

The $10.78 quarterly increase in my net dividends collected from June 2022 to September 2022 was the result of the following activity in my portfolios:

My net dividends received from Simon Property Group (SPG) were $0.45 higher within my Robinhood account. This was due to the 2.9% raise in the quarterly dividend per share announced in August.

I also collected an additional $0.60 in special dividends from Main Street Capital (MAIN) during the month in my Robinhood portfolio.

My net dividends received from BP plc (BP) edged $0.36 higher within my Robinhood account, which was the result of the company's 10.1% hike to its quarterly dividend per share in August.

I also collected an extra $0.12 in net dividends from Duke Energy (DUK) for the month in my Robinhood portfolio. This was due to a 2% increase in the quarterly dividend per share back in July.

My net dividends received from Hershey (HSY) increased by $0.41 within my Robinhood account, which was the result of a 15% boost to its quarterly dividend per share in July.

I also collected an additional $0.01 in net dividends from Realty Income (O) in my Robinhood portfolio. This was due to the 0.2% increase in its monthly dividend per share announced in June.

My net dividends received from 3M (MMM) were $2.98 higher within my Robinhood account, which was the result of my purchase of two more shares in June.

I also collected an extra $3.30 in net dividends from International Business Machines (IBM) in my Robinhood portfolio. This was due to the addition of two more shares back in June.

My net dividends received from J.M. Smucker (SJM) increased by $0.09 within my Robinhood account, which was the result of a 3% raise in the quarterly dividend per share in July.

I also collected an additional $0.19 in net dividends from Essential Utilities (WTRG) in my Robinhood portfolio. This was due to the 7% hike in the quarterly dividend per share in August.

My net dividends received from Visa (V) within my Robinhood account were $0.75 higher, which was the result of my purchase of two more shares in August.

I also collected an extra $0.61 in net dividends from Cummins (CMI) in my Robinhood and M1 Finance portfolios. This was the result of an 8.3% raise in the quarterly dividend per share in July.

My net dividends received from Wells Fargo (WFC) increased by $0.40 within my Robinhood and Webull accounts, which was due to a 20% boost in the quarterly dividend per share in July.

I collected an additional $0.51 in net dividends from my CAIBX mutual fund, which was the result of dividend reinvestment.

Concluding Thoughts:

As I reinvest dividends, receive payout raises, and deploy capital of my own, my net dividends should continue to climb higher. I'm excited to keep grinding and boosting that dividend income higher with each passing quarter. Considering that December will have special dividends from my CAIBX mutual fund and March is still a ways off, this will likely be my last end of quarter month under $400 in net dividends.

Discussion:

How was your September 2022 for dividend income?

Did you collect any first-time dividends last month?

I appreciate your readership and welcome your comments below!

September 2022 Dividend Stock Purchases

As I'm writing this blog post, the high temperature is expected to reach 68 degrees Fahrenheit here in Central Wisconsin today (September 30). After a cold snap, the temperatures are finally looking good over the next few days. Needless to say, I will be getting outside as much as I can during that time.

With that aside, I'll be going over my stock purchases for the month of September 2022.

My retirement account from my former employer with the mutual fund holding Capital Income Builder (CAIBX) paid $75.94 in net dividends to me, which were reinvested. This purchased 1.199 additional shares, which added $2.55 in net annual forward dividends to my portfolio. That is equal to a 3.36% weighted average dividend yield.

I began my taxable dividend stock purchases by adding a share of Albemarle (ALB) at a cost of $277.21. As I explained several weeks back in my September 2022 Dividend Stock Watch List post, ALB is poised to benefit from a massive expansion in the electric vehicle penetration rate over the next decade. This will lead to an explosion of demand for lithium that goes into EV batteries, which is primarily why I am bullish on the stock. This dividend stock transaction lifted my net annual forward dividends by $1.58, which is a 0.57% net yield.

The first non-dividend-paying stock that I increased my position in was Amazon (AMZN), which I purchased a single share of at the price of $116.89. As I noted a couple of weeks ago in my August 2022 Dividend Stock Purchases post, AMZN is the undisputed leader in cloud computing and e-commerce. This is why I plan to continue buying a share of AMZN each month for the foreseeable future.

The other non-dividend-paying stock that I bolstered my stake in was Alphabet (GOOGL), which I bought 1.5 shares of at an average cost of $99.93 per share. Whereas AMZN is the leader of the cloud computing and e-commerce industries, GOOGL is the most dominant in digital advertising. That explains my rationale to buy the stock each month.

The second dividend-paying stock that I purchased was five shares of Bristol-Myers Squibb (BMY) at a cost per share of $70.22. That's because it is one of the most dominant pharmaceutical companies in the world with a stacked drug pipeline. This boosted my net annual forward dividends by $10.80, which is equivalent to a 3.08% weighted average dividend yield.

The third and final dividend-paying stock that I added to was three shares of Philip Morris International (PM) at an average cost of $95.74 a share. This rationale hinges on the fact that PM is the most established tobacco company on the planet and is set up well for the future as more cigarette smokers seek less harmful alternatives. This helped my net annual forward dividends to surge $15.24 higher, which equates to a 5.31% net dividend yield.

Concluding Thoughts:

I put $1,258.25 in capital to work during the month of September. Given the $30.17 in net annual forward dividends that these transactions added to my portfolio, this works out to a 2.40% weighted average dividend yield.

Including the $20.114 in dividend increases that I have received for the month as of this afternoon, my net annual forward dividends spiked from more than $3,125 at the start of the month to a bit more than $3,175 heading into October.

Discussion:

How was your capital deployment during September 2022?

Did you add any new holdings to your portfolio?

Thanks for reading. I look forward to your comments below!

Expected Dividend Increases for October 2022

As I'm writing this blog post, the first day of fall is behind us here in Central Wisconsin. And with the temperature currently at 57 degrees Fahrenheit, there's no denying that fall is in the air.

With that aside, I'll turn my attention to the dividend increases that I have received in September. I will also look ahead to the dividend increases that I'm anticipating for next month. For the sake of conciseness (there were quite a few dividend increases in September), I won't discuss the reasoning behind my dividend increase expectations for October.

Actual Dividend Increases for September 2022

Dividend Increase #1: Realty Income (O)

Realty Income declared a 0.2% increase in its monthly dividend per share to $0.2480, which was precisely what I predicted in the previous blog post of this series.

This announcement led my net annual forward dividends to edge $0.078 higher across my 13 shares of O.

Dividend Increase #2: W.P. Carey (WPC)

Similar to O, W.P. Carey announced a 0.2% increase in its quarterly dividend per share to $1.061. This was also in line with what I outlined as my expectation.

Across my seven shares of WPC, my net annual forward dividends inched upward by $0.056 due to the dividend declaration.

Dividend Increase #3: STORE Capital

STORE Capital delivered a 6.5% increase in its quarterly dividend per share to $0.41. This was what I was anticipating. But the bitter sweet news is that it will be the company's last dividend before being bought out by GIC and Oak Street, assuming the deal is approved by shareholders.

My net annual forward dividends would be $3.30 higher as a result of this latest dividend hike across my 33 shares, but for the fact that the deal will almost certainly be closed in just a few months.

Dividend Increase #4: Innovative Industrial Properties (IIPR)

Innovative Industrial Properties declared a 2.9% increase in its quarterly dividend per share to $1.80. This was below my expectation of a raise to $1.90. But given the recent issues with one of its largest tenants called Kings Garden, it makes sense for the company to err on the side of caution until that can be resolved.

Across my six shares of IIPR, my net annual forward dividends were boosted by $1.20 due to the payout increase.

Dividend Increase #5: American Tower (AMT)

American Tower announced a 2.8% bump in its quarterly dividend per share to $1.47, which was precisely what I predicted.

My net annual forward dividends increased by $0.72 across my three shares of AMT as a result of the dividend increase.

Dividend Increase #6: VICI Properties (VICI)

VICI Properties declared an 8.3% hike in its quarterly dividend per share to $0.39. This came in better than the $0.38 quarterly dividend per share that I was anticipating.

Across my 33 shares of VICI, my net annual forward dividends were boosted by $3.96 due to the dividend boost.

Dividend Increase #7: Verizon Communications (VZ)

Verizon Communications announced a 2% increase in the quarterly dividend per share to $0.6525. Again, this was what I was expecting.

My net annual forward dividends were lifted $1.00 higher across my 20 shares of VZ as a result of the payout bump.

Dividend Increase #8: Philip Morris International (PM)

Philip Morris International declared a 1.6% increase in the quarterly dividend per share to $1.27. This came in a bit higher than the $1.26 quarterly dividend per share that I was forecasting.

Across my 13 shares (at the time of the announcement), my net annual forward dividends surged upward by $1.08 due to the dividend bump.

Dividend Increase #9: Microsoft (MSFT)

Microsoft announced a 9.7% hike in its quarterly dividend per share to $0.68, which was spot on with my projection.

My net annual forward dividends were lifted $0.72 higher across my three shares of MSFT as a result of the payout boost.

Dividend Increase #10: U.S. Bancorp (USB)

U.S. Bancorp declared a 4.3% increase in its quarterly dividend per share to $0.48. This was just below my estimate of $0.48.

Across my 13 shares of USB, my net annual forward dividends were boosted by $1.04 due to the dividend hike.

Dividend Increase #11: Texas Instruments (TXN)

Texas Instruments announced a 7.8% bump in its quarterly dividend per share to $1.24. This came as a surprise to me since TXN's dividend increases in past years have typically been in October.

My net annual forward dividends were lifted by $2.16 across my six shares of TXN as a result of the new dividend declaration.

Dividend Increase #12: Starbucks (SBUX)

Starbucks declared an 8.2% raise in the quarterly dividend per share to $0.53.

My net annual forward dividends were lifted by $1.60 across my 10 shares of SBUX due to the hike.

Dividend Increase #13: Lockheed Martin (LMT)

Lockheed Martin upped its quarterly dividend per share by 7.1% to $3.00 as I expected.

Across my four shares of LMT, my net annual forward dividends soared $3.20 higher from the dividend increase.

Expected Dividend Increases for October 2022

Expected Dividend Increase #1: American Electric Power (AEP)

The first dividend increase that I'm expecting in October is from American Electric Power. I believe that AEP will declare a 5.1% increase in its quarterly dividend per share to $0.82.

If this increase plays out, my net annual forward dividends would surge $1.76 higher across my 11 shares of AEP.

Expected Dividend Increase #2: Visa (V)

The next payout boost that I am anticipating next month will be from Visa. I wouldn't be surprised if V announced a 14.7% hike in its quarterly dividend per share to $0.43.

Across my five shares of V, this would work out to an extra $1.10 in net annual forward dividends, if my projection is correct.

Expected Dividend Increase #3: Exxon Mobil (XOM)

The third dividend increase that I'm expecting in October is from Exxon Mobil. My forecast is for a 4.5% bump in the quarterly dividend per share to $0.92.

If this dividend hike occurs, my net annual forward dividends would be lifted $1.76 higher across my 11 shares of XOM.

Expected Dividend Increase #4: Magellan Midstream Partners (MMP)

The next distribution bump that I'm projecting next month will be from Magellan Midstream Partners. I believe MMP will increase its quarterly distribution per unit by 1% to $1.0475.

Across my 16 units of MMP, my net annual forward distributions would edge $0.64 higher, if my forecast is right.

Expected Dividend Increase #5: AbbVie (ABBV)

The fifth dividend increase that I believe will be announced in October is from AbbVie. My projection is for a 6.4% hike in the quarterly dividend per share to $1.50.

My net annual forward dividends would surge $2.52 higher across my seven shares of ABBV, if the company meets my expectations.

Expected Dividend Increase #6: Pinnacle West Capital (PNW)

The next dividend bump that I'm expecting next month will be from Pinnacle West Capital. I believe that PNW will declare a 2.4% increase in the quarterly dividend per share to $0.87.

Across my seven shares of PNW, my net annual forward dividends would edge higher by $0.56, if my prediction pans out.

Expected Dividend Increase #7: Crown Castle International (CCI)

The seventh dividend increase that I'm projecting for October is from Crown Castle International. My forecast is that CCI will deliver an 8.2% increase in its quarterly dividend per share to $1.59.

My net annual forward dividends would be boosted by $1.92 across my four shares of CCI if my estimate is right.

Expected Dividend Increase #8: McDonald's (MCD)

McDonald's didn't announce a dividend increase in October. But I am reiterating my expectation of a 7.2% increase in the quarterly dividend per share to $1.48.

Across my three shares of MCD, my net annual forward dividends would increase by $1.20, if the company meets my forecast.

Concluding Thoughts:

My net annual forward dividends were lifted by $20.114 with my 13 dividend increases. This would be equivalent to investing $574.69 at a 3.5% weighted average dividend yield.

The number of dividend hikes will slow down in October. But if my predictions are proven correct, my net annual forward dividends would be boosted by $11.46 from payout raises.

Discussion:

How has your September been for dividend hikes?

Did you receive any first-time payout increases during the month as I did with IIPR, SBUX, TXN, USB, VICI?

Thank you for your readership. Please feel free to comment below!