March 2023 Dividend Stock Purchases

As I'm writing this blog post on March 31, the temperatures here in Central Wisconsin remain frigid for this time of the year. The high is expected to reach just 41 degrees Fahrenheit later today.

With that aside, the end of the month means now would be a good time to look at the stock purchases that I made during March 2023.

Starting with my retirement account, I reinvested $80.24 in net dividends received from my mutual fund named Capital Income Builder (CAIBX). This purchased 1.293 shares of CAIBX, which boosted my net annual forward dividends by $2.75 at an annualized dividend per share of $2.13. That's equivalent to a 3.43% weighted average dividend yield.

My first dividend stock purchase in my taxable accounts during the month was three shares of Lowe's (LOW) at an average cost per share of $196.69. Readers interested in my buying rationale can refer to my March 2023 Dividend Stock Watch List blog post. This transaction boosted my net annual forward dividends by $12.60, which equates to a 2.14% net dividend yield.

The next dividend stock buy that I made in March was one share of Mastercard (MA) at a share price of $353.89. Again, readers can check out my aforementioned blog post for the basic investment thesis. This dividend stock purchase lifted my net annual forward dividends by $2.28, which works out to a 0.64% dividend yield.

My third dividend stock purchase during the month was four shares of AbbVie (ABBV) at an average cost per share of $156.09. Readers can once again view my aforementioned blog post for further explanation as to why I executed this transaction. My net annual forward dividends surged higher by $23.68, which is equivalent to a 3.79% net dividend yield.

The first non-dividend stock buy that I completed in March was 1.5 shares of Amazon (AMZN) at an average cost of $98.14 a share. My reasons for buying the tech juggernaut remain the same as when I opened a position in the stock nearly a year ago.

The other non-dividend stock that I purchased last month was one share of Alphabet (GOOGL) at a share price of $105.53. Like AMZN, the investment thesis guiding my purchase decision remains unchanged from when I started my position in the stock last July.

The fourth dividend stock that I added to in March was one share of UnitedHealth Group (UNH) at a total cost of $465.88. Readers wanting to know the investment thesis behind this transaction can check out my Motley Fool article from January. This dividend stock purchase added $6.60 to my net annual forward dividends, which equates to a 1.42% dividend yield.

The next dividend stock that I purchased last month was two shares of Tractor Supply (TSCO) at an average price per share of $230.33. Interested readers can take a look at my Motley Fool article from February for more detail on why I like the stock. This transaction raised my net annual forward dividends by $8.24, which works out to a 1.79% net dividend yield.

The sixth dividend stock that I added to in March was a share of Dollar General (DG) at a total cost of $207.02. Readers can check out my recent Motley Fool article for why I'm bullish toward the stock. This dividend stock purchase helped my net annual forward dividends to edge higher by $2.36, which is equivalent to a 1.14% dividend yield.

The final dividend stock purchase that I executed last month was a share of Automatic Data Processing (ADP) at a price per share of $219.94. Curious readers can skim the previous post in the series for my investment thesis. My net annual forward dividends increased by $5.00, which equates to a 2.42% net dividend yield.

Concluding Thoughts:

I deployed $3,254.78 in capital during the month of March. These dividend stock purchases boosted my net annual forward dividends by $63.51, which works out to a weighted-average dividend yield of 1.95%.

Along with $6.678 in dividend increases that I received for the month, my net annual forward dividends rose from nearly $3,585 heading into the month to almost $3,655 to end the month.

Discussion:

How was your capital deployment during March 2023?

Did you start any new positions in the month?

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