Expected Dividend Increases for June 2023

As I'm writing this blog post on Saturday, May 27th, the temperature is poised to reach a high of 75 degrees Fahrenheit here in Central Wisconsin. Add in that it will be a mostly sunny day and the conditions are ripe for an absolutely spectacular day. That's precisely why I plan on getting outside later today!

With that aside, the month is May is just about over. This means that now is a good time to look at the dividend increases that I received for the month and to look ahead to June.

Actual Dividend Increases for May 2023

Dividend Increase #1: Main Street Capital (MAIN)

As indicated in my previous post of this series, Main Street Capital declared a 2.2% increase in its monthly dividend per share to $0.23. This lifted my net annual forward dividends by $1.80 across my 30 shares of MAIN.

Dividend Increase #2: Simon Property Group (SPG)

Simon Property Group announced a 2.8% raise in its quarterly dividend per share to $1.85. Across my nine shares of SPG, my net annual forward dividends grew by $1.80 from this announcement.

Dividend Increase #3: Leggett & Platt (LEG)

Leggett & Platt declared a 4.5% bump in its quarterly dividend per share to $0.46. This declaration led my net annual forward dividends higher by $1.20 across my 15 shares of LEG.

Dividend Increase #4: Medtronic (MDT)

Medtronic announced a 1.5% increase in its quarterly dividend per share to $0.69, which came in below my estimate of a 5.9% boost in the quarterly dividend per share to $0.72. Across my eight shares of MDT, my net annual forward dividends grew by $0.32 due to this announcement.

Dividend Increase #5: Lowe's (LOW)

Lowe's declared a 4.8% raise in its quarterly dividend per share to $1.10. This was less than my prediction of an 8.6% lift in the quarterly payout per share to $1.14. My net annual forward dividends were lifted higher by $1.60 across my eight shares of LOW from this declaration.

Dividend Increase #6: American Tower (AMT)

American Tower announced a 0.6% bump in its quarterly dividend per share to $1.57. Across my three shares of AMT, my net annual forward dividends increased by $0.12 due to this announcement.

Expected Dividend Increases for June 2023

Expected Dividend Increase #1: Realty Income (O)

The first dividend increase that I'm predicting for next month will be from Realty Income. I believe O will declare a 0.2% raise in its monthly dividend per share to $0.2555. If this raise plays out, my net annual forward dividends would grow by $0.144 across my 24 shares of O.

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

The next payout bump that I am expecting for June is from W.P. Carey. My best guess is that WPC will announce a 0.2% increase in its quarterly dividend per share to $1.069. Across my seven shares of WPC, my net annual forward dividends would rise by $0.056 from such an announcement.

Expected Dividend Increase #3: UnitedHealth Group (UNH)

The third dividend increase that I'm projecting for next month will be from UnitedHealth Group. I anticipate that UNH will declare a 12.1% boost in its quarterly dividend per share to $1.85. My net annual forward dividends would soar by $2.40 across my three shares due to such a declaration.

Expected Dividend Increase #4: General Mills (GIS)

The final payout raise that I am expecting for June is from General Mills. I believe GIS will announce a 5.6% increase in its quarterly dividend per share to $0.57. Across my four shares of GIS, my net annual forward dividends would grow by $0.48 from such an announcement.

Concluding Thoughts:

My net annual forward dividends rose by $6.84 from the six dividend increases that I received in May. This would be equivalent to investing $228 at a weighted average 3% dividend yield. 

Looking at June, my net annual forward dividends could climb by $3.08 if my predictions pan out. This would be the same as investing $102.67 at a net dividend yield of 3%. Last but certainly far from least, thanks to all of the military veterans (and their families) who have made the ultimate sacrifice for the United States of America!

Discussion:

How many payout raises did the holdings in your portfolio announce last month?

Did you receive any first-time dividend hikes in May 2023?

Thanks for reading and please feel free to comment below!