March 2023 Dividend Stock Watch List

As I'm writing this article, we're more than half way through the month of February. We're currently in the middle of a warming trend here in Central Wisconsin, with the high temperature set to reach 40 degrees Fahrenheit on Saturday, February 18th.

With that aside, now would be a good time to look ahead to potential dividend stock purchases for the next month. Let's dive into it!

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Dividend Stock #1: AbbVie (ABBV)

The first dividend stock that I'm watching for next month is AbbVie (ABBV). Readers longing for more substance on my buying rationale can check out my recent Motley Fool article on the stock (and Procter & Gamble and Realty Income).

Basically, ABBV is a wonderfully run business with a strong product portfolio and an equally stacked pipeline, for one. Second, ABBV's near-4% dividend yield is quite safe. Third and finally, ABBV's valuation is compelling at the current $150 share price (as of February 16, 2023).

Dividend Stock #2: Lowe's (LOW)

The next dividend stock on my watch list for March 2023 is Lowe's (LOW). Interested readers can check out my recent Motley Fool article on the stock (and Philip Morris International) for my investment thesis.

The long and short of it is that LOW is a major player in the massive home improvement retail market. The stock's 2% dividend yield is well-supported by profits and the valuation is also cheap at the current $214 share price (as of February 16, 2023).

Dividend Stock #3: Mastercard (MA)

The third dividend stock that I'm watching for next month is Mastercard (MA). Readers can take a look at my investment thesis for the stock in a recently published Motley Fool article.

The takeaways are basically are as follows: A shift toward alternative payment methods will greatly benefit MA, the dividend has nowhere to go but up, and the stock is reasonably valued at the current $368 share price (as of February 16, 2023).

Concluding Thoughts:

March 2023 will likely bring another month of capital deployment in the range of $3,000 to $3,500. I've said it before and I'll say it again: I'm so grateful to be able to be doing what I love and deploying as much capital as I have been to investments in recent months.

Discussion:

Are any of ABBV, LOW, or MA on your watch list for March 2023?

If not, what stocks are you monitoring for next month?

Thanks for reading. Please feel free to comment below!

January 2023 Dividend Income

As I'm writing this blog post, it is mid-February. It's hard to believe that the month is more than half over! This means that it is time to delve into my dividend income for last month.

During January 2023, I received $220.01 in net dividends. This is equivalent to a 7.5% quarterly growth rate compared to the $204.57 in net dividends collected in October 2022.

Stacked against the $128.80 in net dividends that I received from my portfolio in January 2022, this is a 70.8% year over year growth rate.

Diving into further detail, I collected $209.94 in net dividends from 28 stocks in my Robinhood account. I also received $9.89 in net dividends from four stocks within my Webull portfolio. Lastly, I collected $0.18 in net dividends from nine stocks in my M1 Finance account.

My net dividends received were boosted by $15.44 from October 2022 to January 2023, which was due to the following activity across my portfolios:

I collected an extra $2.16 in net dividends from Comcast (CMCSA) within my Robinhood account, which was the result of my purchase of eight more shares of the stock last October.

My net dividends received from STAG Industrial (STAG) were lifted higher by $2.56 in my Robinhood portfolio. This was the first dividend payment from the stock for the beginning of a quarter since I opened a position in October.

I collected $13.53 less in net dividends from STORE Capital due to my sale of the stock in November within my Robinhood and Webull accounts.

But my net dividends received from the newcomer to the Robinhood portfolio known as Spirit Realty Capital (SRC) increased by $13.26 from my stock purchase last November.

In addition to opening a stake in SRC, I also built my position in Realty Income (O) in November. Along with a 0.2% dividend increase in December, this explains how my net dividends collected from O edged $1.00 higher within my Robinhood account.

My net dividends received from W.P. Carey (WPC) rose $0.03 in my Robinhood portfolio. This was the result of a 0.4% dividend increase announced in December.

I collected an extra $7.32 in net dividends from Digital Realty Trust (DLR) within my Robinhood account, which was due to the timing of the dividend payment.

My net dividends received from Main Street Capital (MAIN) rose $0.12 in my Robinhood portfolio. This was the result of a 2.3% increase in its monthly dividend per share declared last November.

I collected $0.42 less in net dividends from GSK Plc (GSK) within my Robinhood and M1 Finance accounts, which was due to the company's variability in its dividend payments.

My net dividends received from Medical Properties Trust (MPW) increased by $6.09 in my Robinhood portfolio. This was the result of a 21 share purchase of the stock from last November.

I collected $0.44 in additional net dividends from Merck (MRK) within my Robinhood account, which was due to the 5.8% hike in the quarterly dividend per share announced in November.

My net dividends received from Eastman Chemical (EMN) were $0.21 higher in my Robinhood portfolio. This was the result of the 3.9% dividend increase in the quarterly dividend per share declared last December.

I collected an extra $4.62 in net dividends from PepsiCo (PEP) within my Robinhood and M1 Finance accounts, which was due to the timing of the dividend payment.

My net dividends received from Albemarle (ALB) were $0.39 higher in my Robinhood portfolio. This was the result of my purchase of another share of the stock in September.

I collected $4.41 less in net dividends from American Tower (AMT) within my Robinhood account, which was due to the timing of the dividend payment.

My net dividends received from Coca-Cola (KO) were $4.40 less in my Robinhood portfolio. This was the result of the dividend payment timing.

Concluding Thoughts:

I anticipate that I will continue to deploy between $3,000 to $3,500 each month in fresh capital (including dividends) to dividend stock purchases. That's why I believe that January and February will likely be my final two months of less than $250 in net dividends for any given month.

Discussion:

How was your dividend income last month?

Did you collect any first-time dividends in January 2023 as I did with SRC?

I appreciate your readership and welcome your comments below!

January 2023 Dividend Stock Purchases

As I'm writing this blog post on Saturday, February 11, the temperature is expected to reach a high of 43 degrees Fahrenheit here in Central Wisconsin. Since it is uncharacteristically warm for this time of the year, I certainly plan on getting outside later today.

With that aside, the time of the month means that last month is well behind us at this point. That's why I will be discussing my dividend stock purchases for January 2023. Let's dig in!

I started off the month by opening a three share position in Dollar General (DG) at an average cost of $233.84 per share. Readers interested in my rationale for doing so can check out a recent Motley Fool article on DG (and TJX Companies). This purchase boosted my net annual forward dividends by $6.60, which equates to a 0.94% net dividend yield.

The next dividend stock purchase that I made during the month was four shares of American Electric Power (AEP) at an average cost per share of $95.16. Readers can take a look at my January 2023 Dividend Stock Watch List blog post for more info on the buy case for AEP. As a result of this transaction, my net annual forward dividends surged $13.28 higher. That is equivalent to a 3.49% average dividend yield.

My first non-dividend stock purchase for the month was a share of Alphabet (GOOGL) at a cost of $90.55. This purchase decision was due to GOOGL's dominance in digital advertising as I explained several months ago.

The other non-dividend stock purchase that I made in January was a share of Amazon (AMZN) at a share price of $98.56. This is because of AMZN's status as a leader of the cloud computing, e-commerce, and digital advertising industries.

My third dividend stock purchase that I completed last month was six shares of Main Street Capital (MAIN) at an average cost of $38.71 per share. Those interested in the investment thesis for MAIN can find out more by reading my recent Motley Fool article on the stock. This dividend stock purchase boosted my net annual forward dividends by $16.20, which works out to a 6.97% net dividend yield.

The next dividend stock that I added to in January was a share of Broadcom (AVGO) at a share price of $594.97. While eight months old, this Motley Fool article on AVGO (and Home Depot) still appropriately sums up my investment thesis for the stock. My net annual forward dividends were lifted $18.40 higher from this purchase, which equates to a 3.09% dividend yield.

My fifth dividend stock purchase for last month was two shares of Amgen (AMGN) at an average cost per share of $254.15. Readers can visit my recent Motley Fool article on AMGN to gain a better understanding of my investment thesis. This transaction propelled my net annual forward dividends higher by $17.04, which is a 3.35% net dividend yield.

The final dividend stock purchase that I made in January was 10 shares of Verizon Communications (VZ) at an average cost of $40.48 per share. Although this Motley Fool article is from five months ago, my investment thesis for VZ (and British American Tobacco and Energy Transfer) remains intact. My net annual forward dividends soared higher by $26.10, which is equivalent to a 6.45% dividend yield.

Concluding Thoughts:

I started off 2023 with a bang, putting $3,011.55 in capital to work during the month. Given the $97.62 in net annual forward dividends that these purchases added, my weighted-average net dividend yield was 3.24% on purchases made in January 2023.

Coupled with the record $28.35 in dividend increases that I received last month, my net annual forward dividends soared from $3,355 at the start of the month to nearly $3,480 to end the month.

Discussion:

How did you fare on capital deployment in January 2023?

Did you start any new positions as I did with DG?

Thanks for reading and please feel free to comment below!

Expected Dividend Increases for February 2023

As I'm writing this blog post on Saturday, February 4, Central Wisconsin just broke out of a lengthy cold snap. The temperature is currently a toasty 30 degrees Fahrenheit and similar temperatures should persist over the next week.

With that being said, it's time to take a look at the dividend raises that I received in January and preview the dividend hikes that I am anticipating for this month.

Actual Dividend Increases for January 2023

Dividend Increase #1: Enterprise Products Partners (EPD)

Enterprise Products Partners announced a 3.2% bump in its quarterly distribution per unit to $0.49. Across my 36 units of EPD, this lifted my net annual forward distributions higher by $2.16 due to the distribution announcement.

Dividend Increase #2: STAG Industrial (STAG)

STAG Industrial declared a 0.7% increase in its monthly dividend per share to $0.1225, which came in below my expectation of a 1.4% raise. My net annual forward dividends edged up by $0.21 across my 21 shares of STAG as a result of the dividend declaration.

Dividend Increase #3: ONEOK (OKE)

ONEOK increased its quarterly dividend per share by 2.1% to $0.955. Across my 17 shares of OKE, my net annual forward dividends moved $1.36 higher due to the dividend announcement.

Dividend Increase #4: WEC Energy Group (WEC)

WEC Energy Group declared a 7.2% hike in its quarterly dividend per share to $0.78. My net annual forward dividends increased by $1.68 across my eight shares of WEC as a result of the dividend declaration.

Dividend Increase #5: Kimberly Clark (KMB)

Kimberly Clark announced a 1.7% bump in its quarterly dividend per share to $1.18. This proved my prediction to be on the money. Across my four shares of KMB, my net annual forward dividends inched $0.32 higher due to the dividend announcement.

Dividend Increase #6: BlackRock (BLK)

BlackRock declared a 2.5% increase in its quarterly dividend per share to $5.00. This was well below my expectation of a 5.7% raise in the dividend. My net annual forward dividends moved up by $0.96 across my two shares of BLK as a result of the dividend declaration.

Dividend Increase #7: Comcast (CMCSA)

Comcast announced a 7.4% boost in its quarterly dividend per share to $0.29, which was my exact projection. Across my 25 shares of CMCSA, my net annual forward dividends increased by $2.00 due to the dividend announcement.

Dividend Increase #8: Energy Transfer (ET)

Energy Transfer declared a 15.1% hike in its quarterly distribution per unit to $0.305, which is in line with its pre-COVID distribution. My net annual forward distributions rocketed $13.76 higher across my 86 units of ET as a result of the distribution declaration.

Dividend Increase #9: Alliant Energy (LNT)

Alliant Energy announced a 5.8% increase in its quarterly dividend per share to $0.4575. This was below my forecast of a 7% raise in the quarterly dividend per share. Across my 13 shares of LNT, my net annual forward dividends were lifted by $1.30 due to the dividend announcement.

Dividend Increase #10: Air Products & Chemicals (APD)

Air Products & Chemicals declared an 8% hike in its quarterly dividend per share to $1.75. My net annual forward dividends surged $1.56 higher across my three shares of APD as a result of the dividend declaration.

Dividend Increase #11: Kinder Morgan (KMI)

Kinder Morgan announced a 1.8% bump in its quarterly dividend per share to $0.2825. Across my 52 shares of KMI, my net annual forward dividends rose by $1.04 due to the dividend announcement.

Dividend Increase #12: United Parcel Service (UPS)

United Parcel Service declared a 6.6% increase in its quarterly dividend per share to $1.62. My net annual forward dividends were lifted $2.00 higher across my five shares of UPS as a result of the dividend announcement.

Dividend Freeze: Realty Income (O)

Realty Income kept its monthly dividend per share in line with the previous dividend of $0.2485. This wasn't the 3.8% increase in the dividend that I was hoping for, but I still expect a mid-single-digit dividend increase from the company in the near future.

Expected Dividend Increases for February 2023

Expected Dividend Increase #1: Genuine Parts Company (GPC)

The first dividend raise that I'm forecasting in February will be from Genuine Parts Company. My best guess is that GPC will announce a 5.6% increase in its quarterly dividend per share to $0.945.

Across my six shares of GPC, my net annual forward dividends would surge higher by $1.20 from such an announcement.

Expected Dividend Increase #2: Home Depot (HD)

The next dividend boost that I am predicting for next month will come from Home Depot. I believe that HD will declare a 5.3% increase in its quarterly dividend per share to $2.00.

My net annual forward dividends would be lifted $1.20 higher across my three shares of HD if this declaration plays out as expected.

Expected Dividend Increase #3: Albemarle (ALB)

The third dividend bump that I'm anticipating in February will be from Albemarle. My projection is that ALB will announce a 2.5% increase in its quarterly dividend per share to $0.405.

Across my six shares of ALB, my net annual forward dividends would edge $0.24 higher from such an announcement.

Expected Dividend Increase #4: Prudential Financial (PRU)

The next dividend increase that I am expecting for next month will come from Prudential Financial. My best guess is that PRU will declare a 4.2% raise in its quarterly dividend per share to $1.25.

My net annual forward dividends would surge $2.00 higher across my 10 shares of PRU if this declaration goes as anticipated.

Expected Dividend Increase #5: L3Harris Technologies (LHX)

The fifth dividend raise that I'm projecting in February will be from L3Harris Technologies. I believe that LHX will announce a 7.1% increase in its quarterly dividend per share to $1.20.

Across my four shares of LHX, my net annual forward dividends would rise by $1.28 from such an announcement.

Expected Dividend Increase #6: Cisco Systems (CSCO)

The next dividend bump that I am forecasting for next month will come from Cisco Systems. My projection is that CSCO will declare a 2.6% increase in its quarterly dividend per share to $0.39.

My net annual forward dividends would grow by $0.88 across my 22 shares of CSCO if this declaration plays out as expected.

Expected Dividend Increase #7: T. Rowe Price Group (TROW)

The seventh dividend raise that I'm anticipating in February will be from T. Rowe Price Group. My best guess is that TROW will announce a 2.5% bump in its quarterly dividend per share to $1.23.

Across my six shares of TROW, my net annual forward dividends would increase by $0.72 from such an announcement.

Expected Dividend Increase #8: Allstate (ALL)

The next dividend increase that I am predicting for next month will come from Allstate. I believe that ALL will declare a 3.5% raise in its quarterly dividend per share to $0.88.

My net annual forward dividends would edge $0.60 higher across my five shares of ALL if this declaration comes to fruition.

Expected Dividend Increase #9: 3M (MMM)

The ninth dividend bump that I'm projecting in February will be from 3M. My estimate is that MMM will announce a 0.7% increase in its quarterly dividend per share to $1.50.

Across my six shares of MMM, my net annual forward dividends would rise by $0.24 from such an announcement.

Expected Dividend Increase #10: Medical Properties Trust (MPW)

The next dividend increase that I am expecting for next month will come from Medical Properties Trust. My best guess is that MPW will declare a 3.4% dividend increase in its quarterly dividend per share to $0.30.

My net annual forward dividends would surge $2.56 higher across my 64 shares of MPW if this declaration occurs.

Expected Dividend Increase #11: Coca-Cola (KO)

The eleventh dividend hike that I'm forecasting in February will be from Coca-Cola. I believe that KO will announce a 4.5% increase in its quarterly dividend per share to $0.46.

Across my 10 shares of KO, my net annual forward dividends would rise by $0.80 from such an announcement.

Expected Dividend Increase #12: PepsiCo (PEP)

The next dividend increase that I am expecting for next month will come from PepsiCo. My estimate is that PEP will declare a 7.8% hike in its quarterly dividend per share to $1.24.

My net annual forward dividends would surge $1.44 higher across my four shares of PEP if this declaration manifests itself.

Expected Dividend Increase #13: Digital Realty Trust (DLR)

The thirteenth dividend raise that I'm predicting in February will be from Digital Realty Trust. My best guess is that DLR will announce a 4.9% increase in its quarterly dividend per share to $1.28.

Across my six shares of DLR, my net annual forward dividends would move $1.44 higher from such an announcement.

Expected Dividend Increase #14: NextEra Energy (NEE)

The next dividend increase that I am projecting for next month will come from NextEra Energy. I believe that NEE will declare an 8.2% hike in its quarterly dividend per share to $0.46.

My net annual forward dividends would rise by $1.26 across my nine shares of NEE if this declaration materializes.

Already Announced Dividend Increase: Shell (SHEL)

Shell announced a 15% hike in its quarterly dividend per share to $0.575. Across my nine shares of SHEL, my net annual forward dividends were boosted by $2.70 by this dividend announcement.

Concluding Thoughts:

The dozen dividend increases that I received during the month of January 2023 caused my net annual forward dividends to soar higher by $28.35. Putting this into perspective, that would be the equivalent of investing $810.00 in fresh capital at a weighted-average dividend yield of 3.5%. As the months and years unfold, my portfolio is carrying more and more of the load on my journey toward financial independence.

And if the fourteen raises that I expect for February turn out to be correct, my net annual forward dividends would soar $18.56 higher (including the raise from SHEL before this blog post was wrote). This would require a $530.29 investment at a 3.5% dividend yield to replicate.

Discussion:

How was your January 2023 for dividend hikes?

Are you expecting any first-time payout boosts as I am with NEE?

As always, thanks for your readership. You're welcome to leave comments below!