March 2023 Dividend Income

As I'm writing this blog post, the temperature is expected to reach a high of 57 degrees Fahrenheit today (April 8) here in Central Wisconsin. That's about what you'd expect for this time of year. But the temperature is expected to quickly ramp up to a high of 80 degrees Fahrenheit as soon as Wednesday!

With the month of March over a week behind us at this point, now would be a good time to delve into my dividend income for last month.

During the month of March 2023, I received $392.62 in net dividends. Against the $423.00 in net dividends that I collected in December 2022, this is a quarterly contraction rate of 7.2%.

Compared to the $302.53 in net dividends that I received in March 2022, my net dividends grew by 29.8% over the year-ago period.

Digging deeper, I collected $296.44 in net dividends from 47 companies in my Robinhood portfolio. My net dividends received from the Capital Income Builder (CAIBX) mutual fund within my retirement account were $80.24. I collected $15.40 in net dividends from six companies in my Webull portfolio. Finally, I received $0.54 in net dividends from 25 companies within my M1 Finance account.

The $30.38 decrease in net dividends collected from December 2022 to March 2023 was due to the following activity in my portfolios:

My net dividends received from CAIBX were $73.43 lower within my retirement account. This was because in the prior period I received a special dividend.

I collected an extra $4.60 in net dividends from Broadcom (AVGO) in my Robinhood and Webull portfolios, which was the result of my purchase of another share in January 2023.

My net dividends received from PepsiCo (PEP) were an additional $4.62 within my Robinhood and M1 Finance accounts. That is due to the timing of PEP's dividend payment.

I collected $12.20 more in net dividends from Digital Realty Trust (DLR) in my Robinhood portfolio, which was the result of the timing of the dividend payment and my purchase of another four shares in February 2023.

My net dividends received from Union Pacific (UNP) were $1.30 higher within my Robinhood account. This was due to my purchase of another share in December 2022.

I collected an extra $0.40 in net dividends from BP plc (BP) in my Robinhood portfolio, which was the result of a 10.1% payout hike in February.

My net dividends received from Main Street Capital (MAIN) in my Robinhood account were $4.32 higher. This was due to my purchase of another six more shares of MAIN in January and a higher special dividend.

I collected an additional $0.68 in net dividends from Shell (SHEL) within my Robinhood portfolio, which was the result of a 15% lift in the dividend in February.

My net dividends received from L3Harris Technologies (LHX) were $0.08 higher in my Robinhood account. This was due to a 1.8% raise in the dividend back in February.

I collected an extra $0.57 in net dividends from Home Depot (HD) within my Robinhood portfolio, which was the result of the 10% raise announced in February.

My net dividends received from BlackRock (BLK) in my Robinhood account were up $0.24. This was due to the 2.5% dividend increase in January.

I collected an additional $0.50 in net dividends from Prudential Financial (PRU) within my Robinhood and Webull portfolios, which was the result of the 4.2% raise declared in February.

My net dividends received from STAG Industrial (STAG) were $0.01 higher in my Robinhood account. This was due to the 0.7% dividend increase announced in January.

I collected an extra $0.38 in net dividends from NextEra Energy (NEE) within my Robinhood portfolio, which was the result of the 10% raise declared in February.

My net dividends received from Realty Income (O) were $0.11 more in my Robinhood account. This was due to the 2.4% raise in the monthly dividend back in February.

I collected an additional $3.09 in net dividends from Tractor Supply (TSCO) within my Robinhood portfolio, which was the result of my dividend stock purchase in December 2022.

My net dividends received from 3M (MMM) increased by $0.06 in my Robinhood account. This was due to the 0.7% dividend bump in February.

I collected an extra $0.50 in net dividends from United Parcel Service (UPS) within my Robinhood portfolio, which was the result of the 6.6% dividend increase in January.

My net dividends received from American Electric Power (AEP) were $3.32 higher in my Robinhood account. This was due to my purchase of four more shares in January.

I collected an additional $1.36 in net dividends from Microsoft (MSFT) within my Robinhood portfolio, which was the result of my purchase of two more shares last November.

My net dividends received from Amgen (AMGN) were $5.02 more in my Robinhood account. This was due to my purchase of two shares in January and the 9.8% dividend increase last December.

I collected an extra $0.17 in net dividends from Pfizer (PFE) within my Robinhood portfolio, which was the result of the 2.5% payout raise in December.

My net dividends received from Aflac (AFL) were $0.22 higher in my Robinhood account. This was due to the 5% dividend increase last November.

I collected an additional $3.54 in net dividends from WEC Energy Group (WEC) within my Robinhood portfolio, which was the result of both a dividend hike in January and my purchase of four more shares in February.

My net dividends received from Coca-Cola were $4.40 lower within my Robinhood account. This was due to the timing of the dividend payment.

I collected an extra $0.12 in net dividends from T. Rowe Price Group (TROW) in my Robinhood portfolio, which was the result of the recent 1.7% dividend increase announced in February.

My net dividends received were $0.04 higher within my M1 Finance account. This was due to the timing of Fastenal's (FAST) $0.03 dividend payment and the $0.01 dividend from the recently spun-off Brookfield Corp (BN).

Concluding Thoughts:

Given that my typical capital deployment each month is in the neighborhood of $3,000 to $3,500, this should be my final end of quarter month with net dividends under $400.

Discussion:

How was your dividend income last month?

Did you receive any first-time dividends last month like I did with TSCO and BN?

Thanks for your readership. Please leave your comments below!