Expected Dividend Increases for May 2023

As I'm writing this blog post, the month of April has been over for a week. But you certainly wouldn't know it by the weather here in Central Wisconsin: Only in recent days have we surpassed 60 degrees Fahrenheit for the first time in several weeks.

With that in mind, let's go over the payout raises that I received in April 2023 and look ahead to the dividend boosts that I am expecting in May 2023.

Actual Dividend Increases for April 2023

Dividend Increase #1: FedEx (FDX)

FedEx announced a 9.6% hike in its quarterly dividend per share to $1.26. Across my four shares of FDX, my net annual forward dividends rose by $1.76 from this announcement.

Dividend Increase #2: Tanger Factory Outlet Centers (SKT)

Tanger Factory Outlet Centers declared an 11.4% boost in its quarterly dividend per share to $0.245. My net annual forward dividends were lifted higher by $1.10 across my 11 shares of SKT from this declaration.

Dividend Increase #3: Southern Company (SO)

Southern Company announced a 2.9% increase in its quarterly dividend per share to $0.70, which was in line with my expectations in the prior blog post of this series. Across my five shares of SO, my net annual forward dividends edged upward by $0.40 from this announcement.

Dividend Increase #4: Johnson & Johnson (JNJ)

Johnson & Johnson declared a 5.3% lift in its quarterly dividend per share to $1.19. This was just below my prediction of a 6.2% raise. My net annual forward dividends surged higher by $1.20 across my five shares of JNJ from this declaration.

Dividend Increase #5: Raytheon Technologies (RTX)

Raytheon Technologies announced a 7.3% hike in its quarterly dividend per share to $0.59, which was on the money with my forecast. Across my seven shares of RTX, my net annual forward dividends rose by $1.12 from this announcement.

Dividend Increase #6: International Business Machines (IBM)

International Business Machines declared a token 0.6% increase in its quarterly dividend per share to $1.66. This was below my expectation of a 3% bump in the payout. My net annual forward dividends edged $0.24 higher across my six shares of IBM from this declaration.

Dividend Increase #7: American Water Works (AWK)

American Water Works (AWK) announced an 8% raise in its quarterly dividend per share to $0.7075, which was less than the 9.1% boost that I was anticipating. Across my four shares of AWK, my net annual forward dividends edged upward by $0.84 from this announcement. 

Dividend Increase #8: Energy Transfer (ET)

Energy Transfer declared a 0.8% bump in its quarterly distribution per unit to $0.3075. My net annual forward distributions increased by $0.86 across my 86 units of ET from this declaration.

Expected Dividend Increases for May 2023

Already Announced: Simon Property Group (SPG)

I was late to the party on this prediction as Simon Property Group already announced a 2.8% raise in its quarterly dividend per share to $1.85. But I swear that this was my prediction (lol). Across my nine shares, this boosted my net annual forward dividends by $1.80 from this announcement.

Already Announced: Leggett & Platt (LEG)

Similar to SPG, Leggett & Platt has already declared a 4.5% increase in its quarterly dividend per share to $0.46. My net annual forward dividends surged higher by $1.20 across my 15 shares of LEG from this declaration.

Already Announced: Main Street Capital (MAIN)

Main Street Capital already upped its monthly dividend per share by 2.2% to $0.23. Across my 30 shares of MAIN, my net annual forward dividends were boosted by $1.80 from this announcement.

Expected Dividend Increase #1: Union Pacific (UNP)

The first dividend raise that I'm expecting for the month of May that hasn't already been declared will be from Union Pacific. I believe UNP will up its quarterly dividend per share by 6.9% to $1.39. My net annual forward dividends would rise by $1.44 across my four shares of UNP from such a declaration.

Expected Dividend Increase #2: Medtronic (MDT)

My second payout hike that I am forecasting for this month is from Medtronic. My best guess is that MDT will announce a 5.9% increase in its quarterly dividend per share to $0.72. Across my eight shares of MDT, my net annual forward dividends would be boosted by $1.28 from this announcement.

Expected Dividend Increase #3: Lowe's (LOW)

The third and final payout increase that I'm expecting yet for this month will be from Lowe's. My prediction is that Lowe's will declare an 8.6% raise in its quarterly dividend per share to $1.14. My net annual forward dividends would be lifted by $2.88 across my eight shares of LOW from such a declaration.

Concluding Thoughts:

My net annual forward dividends rose by $7.52 due to the eight payout raises that I received in April. This is equivalent to investing $250.67 at a weighted average dividend yield of 3%.

The three dividend hikes that I already received for May paired with the three others that I am expecting would lift my net annual forward dividends by $10.40. This is the same as investing $346.67 at a weighted average net yield of 3%.

Discussion:

How many dividend increases were announced by the holdings in your portfolio during the month of April 2023?

Did you receive any first-time payout boosts last month?

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