Expected Dividend Increases for July 2023

As I'm initially writing this blog post on Friday, June 23, the weather forecast is predicting a sunny day with a high of 85 degrees Fahrenheit today here in Central Wisconsin. That's precisely why I plan on getting outside today for a while!

The date on the calendar makes now a good time to discuss the dividend increases that I received in the month and look ahead to likely dividend increases for July 2023.

Actual Dividend Increases for June 2023

Dividend Increase #1: UnitedHealth Group (UNH)

UnitedHealth Group announced a 13.9% boost in its quarterly dividend per share to $1.88. This was better than my prediction of a 12.1% increase that was highlighted in my previous post of this series.

Across my three shares of UNH, my net annual forward dividends rose by $2.76 due to this dividend announcement.

Dividend Increase #2: Realty Income (O)

Realty Income declared a 0.2% increase in its monthly dividend per share to $0.2555, which was in line with my estimate.

My net annual forward dividends edged $0.144 higher as a result of O's dividend declaration across my 24 shares.

Dividend Increase #3: W.P. Carey (WPC)

W.P. Carey announced a 0.2% bump in its quarterly dividend per share to $1.069. This was as I expected.

Across my seven shares of WPC at the time of the dividend announcement, this increased my net annual forward dividends by $0.056.

Dividend Increase #4: General Mills (GIS)

As I discussed in the prior post of this series, I expect General Mills to declare a 5.6% increase in its quarterly dividend per share to $0.57. When its earnings results drop on Wednesday, June 28, I anticipate that this dividend declaration will be made. Such a declaration would provide a $0.48 benefit to my net annual forward dividends across my four shares of GIS.

UPDATE: GIS crushed my expectations, delivering a 9.3% increase in its quarterly dividend per share to $0.59. Across my four shares of the stock, my net annual forward dividends grew by $0.80 from this declaration.

Dividend Increase #5: Wells Fargo (WFC)

Wells Fargo announced a 16.7% boost in its quarterly dividend per share to $0.35 as I would have predicted. My net annual forward dividends were lifted by $1.60 across my eight shares of WFC from the announcement.

Dividend Increase #6: JPMorgan Chase (JPM)

JPMorgan Chase declared a 5% increase in its quarterly dividend per share to $1.05. Across my six shares of JPM, my net annual forward dividends grew by $1.20 from the dividend declaration.

Expected Dividend Increases for July 2023

Expected Dividend Increase #1: Energy Transfer (ET)

The first distribution lift that I'm projecting for July 2023 will come from Energy Transfer. My guess is that ET will announce a 0.8% increase in its quarterly distribution per unit to $0.31.

Across my 86 units of ET, this announcement would result in an additional $0.86 in net annual forward dividends for my portfolio.

Expected Dividend Increase #2: Hershey (HSY)

The next dividend boost that I am expecting next month will be from Hershey. I believe that HSY will declare a 10% raise in its quarterly dividend per share to $1.14.

My net annual forward dividends would grow by $1.248 from such a declaration across my three shares of HSY.

Expected Dividend Increase #3: J.M. Smucker (SJM)

The third dividend increase that I'm predicting for July 2023 will come from J.M. Smucker. My projection is that SJM will announce a 5.9% increase in its quarterly dividend per share to $1.08.

Across my three shares of SJM, such an announcement would lift my net annual forward dividends by $0.72.

Expected Dividend Increase #4: Cummins (CMI)

The fifth dividend boost that I'm anticipating for July 2023 will come from Cummins. I believe that CMI will announce a 7% increase in its quarterly dividend per share to $1.68.

Across my five shares of CMI, my net annual forward dividends would grow by $2.20 from such an announcement.

Expected Dividend Increase #5: Duke Energy (DUK)

The next dividend raise that I am expecting next month will be from Duke Energy. My projection is that DUK will declare a 2% bump in its quarterly dividend per share to $1.025.

My net annual forward dividends would increase by $0.48 across my six shares of DUK from such a declaration.

Expected Dividend Increase #6: Clorox (CLX)

The seventh dividend raise that I'm predicting for July 2023 will come from Clorox. My guess is that CLX will announce a 0.8% increase in its quarterly dividend per share to $1.19.

Across my two shares of CLX, my net annual forward dividends would edge higher by $0.08 from such an announcement.

Expected Dividend Increase #7: NNN REIT (NNN)

The next dividend increase that I am anticipating for next month will be from NNN REIT. I believe that NNN will declare a 3.6% bump in its quarterly dividend per share to $0.57.

My net annual forward dividends would be lifted by $1.44 across my 18 shares of NNN from such a declaration.

Concluding Thoughts:

My net annual forward dividends increased by $6.56 from the six dividend increases that I received in June. This equates to investing $218.67 of fresh capital at a net dividend yield of 3%.

Looking ahead to next month, my net annual forward dividends could rise by $7.028 if my seven dividend increase predictions play out as expected. This would be equivalent to investing $234.27 at a weighted average 3% dividend yield.

Discussion:

How was your June 2023 for dividend hikes?

Did you receive any first-time payout raises during the month?

I appreciate your readership and welcome your comments below!

July 2023 Dividend Stock Watch List

As I'm writing this blog post on Friday, June 16, the high temperature is expected to reach 75 degrees Fahrenheit today here in Central Wisconsin. And with highs forecasted to reach into the upper-70s Fahrenheit range this weekend, I hope to get outside for at least a few hours!

With that aside and July just two weeks away, now would be a good time to look at three dividend stocks on my watch list for next month.

Image source: Pexels

Dividend Stock #1: Automatic Data Processing (ADP)

The first dividend stock on my watch list for July 2023 is Automatic Data Processing (ADP). Readers looking for my investment thesis for ADP can find it in this Motley Fool article on the stock (and PepsiCo) from April.

The gist of my investment thesis is that so long as there are businesses, there will be a need for the industry-leading ADP to handle payroll and human resources for those businesses. Along with a sustainable payout ratio, the company is almost guaranteed to soon become a Dividend King. At the current $222 share price (as of June 16, 2023), the dividend growth stock and its 2.3% yield looks reasonably attractive.

Dividend Stock #2: Bristol Myers Squibb (BMY)

The second dividend stock that I'm watching for next month is Bristol Myers Squibb (BMY). Interested readers can find my investment thesis for BMY in this recent Motley Fool article.

Basically, the company balances out a stacked product portfolio with a deep product pipeline. This should support revenue and earnings growth over time. Paired with its low dividend payout ratio, this is why BMY's 3.5% dividend yield is quite safe. Last but not least, the stock's valuation is dirt cheap at the current $66 share price (as of June 16, 2023).

Dividend Stock #3: Raytheon Technologies (RTX)

The final dividend stock on my watch list for July 2023 is Raytheon Technologies (RTX). This business hasn't been explicitly on my watch list since October 2021. But with its fundamentals looking intact, now is a good time to revisit it.

RTX is a company that looks ready to quickly grow. The company's backlog remains enviable while an improvement in the supply chain issues that it has faced in recent years is inevitable. This is why analysts think RTX's earnings will grow by 10.8% annually over the next five years. Finally, the stock's 2.4% dividend yield can be scooped up at a current share price of just $98 (as of June 16, 2023).

Concluding Thoughts:

July 2023 should remain consistent on the capital deployment front, so I'm quite excited to build out my ownership stakes in several remarkable businesses soon!

Discussion:

Are any of ADP, BMY, or RTX on your watch list for July 2023?

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

Thanks for reading and please feel free to comment below!

May 2023 Dividend Income

As I'm writing this blog post, it's already June 3. With the temperature expected to reach a high of 90 degrees Fahrenheit today here in Central Wisconsin, now is an excellent time to get outside and soak up the sun!

Given that May 2023 is well behind us at this point, let's take a look at my dividend income for last month.

In May 2023, I collected $276.48 in net dividends. This equates to an 11.4% quarterly growth rate compared to the $248.08 in net dividends received from my portfolio in February 2023.

My net dividends collected in May 2023 soared by 50.4% year over year against the $183.89 in net dividends my accounts generated in May 2022.

Going into more detail, I received $260.91 in net dividends from 30 companies in my Robinhood portfolio. I also collected $15.19 in net dividends from three companies within my Webull account. Finally, I received $0.38 from 16 companies in my M1 Finance portfolio.

The net dividends that I collected from February 2023 to May 2023 grew by $28.40, which was due to the following activity in my accounts:

My net dividends received from Williams-Sonoma (WSM) were $1.20 higher within my Robinhood portfolio. This was the result of the 15.4% boost in its quarterly dividend per share announced in March.

I collected an extra $0.20 in net distributions from Energy Transfer (ET) in my Robinhood and Webull accounts, which was due to the 0.8% raise in the quarterly distribution per unit declared back in April.

My net dividends received from Tanger Factory Outlet Centers (SKT) grew by $0.28 within my Robinhood portfolio. This was the result of an 11.4% lift in the quarterly dividend per share announced in April.

I collected an additional $5.92 in net dividends from AbbVie (ABBV) in my Robinhood account, which was due to my purchase of four more shares in March.

My net dividends received from Kinder Morgan (KMI) were $0.26 higher within my Robinhood portfolio. This was the result of KMI's 1.8% raise in its quarterly dividend per share back in January.

I collected an extra $1.90 in net dividends from Realty Income (O) in my Robinhood account, which was due to my purchase of seven additional shares in April and dividend increases in February and March.

My net dividends received from General Dynamics (GD) were lifted by $0.24 within my Robinhood portfolio. This was the result of GD's 4.8% dividend increase in March.

I collected an additional $3.15 in net dividends from Lowe's (LOW) in my Robinhood account, which was due to my purchase of three shares of the stock in March.

My net dividends received from Mastercard (MA) grew by $0.57 within my Robinhood portfolio. This was the result of a purchase of one share in March.

I collected an extra $0.07 in net dividends from Medifast (MED) in my Robinhood account, which was due to the 0.6% increase in the quarterly dividend per share in March.

My net dividends received from British American Tobacco (BTI) were $1.48 higher within my Robinhood and Webull portfolios. This was the result of the variability of exchange rates between the British Pound and U.S. Dollar.

I collected an additional $0.39 in net dividends from Air Products & Chemicals (APD) in my Robinhood account, which was due to the 8% dividend hike declared back in January.

My net dividends received from Verizon (VZ) were $6.53 greater within my Robinhood portfolio. This was the result of my purchase of 10 shares of the stock in January.

I collected an extra $4.84 in net dividends from CVS Health (CVS) in my Robinhood account, which was due to my purchase of eight shares in February.

My net dividends received from JPMorgan Chase (JPM) were $6.02 higher within my Robinhood and M1 Finance portfolios. This was the result of the timing of its dividend payment.

I collected $0.03 more in net dividends from Fastenal (FAST) in my M1 Finance account, which was due to the timing of the dividend payment.

My net dividends received from American Tower (AMT) were $4.68 less within my Robinhood portfolio. This was the result of the timing of its dividend payment.

Concluding Thoughts:

I just barely surpassed the $275 net dividend milestone for the month of May 2023. It will be close: But based on my capital deployment, I anticipate that this could be my final middle-of-the-month quarter where my net dividends are below $300.

Discussion:

How was your dividend income in May 2023?

Did you collect any first-time dividend payments during the month?

Thanks for your readership and please know that your comments are welcomed below!

May 2023 Dividend Stock Purchases

As I'm writing this blog post on June 1, it's hard to believe that the month of May is already past us! Summer may be three weeks away on the calendar, but it is certainly here in an unofficial sense: The high temperature is expected to reach 81 degrees Fahrenheit here in Central Wisconsin today.

With that aside, let's take a look at the stock purchases that I completed in May 2023.

My first stock purchase for the month of May was a share of Alphabet (GOOGL) at a cost of $116.69. For those curious on my investment thesis for GOOGL, it remains unchanged from my initial purchase of the stock in July 2022.

The next stock purchase that I made last month was a share of Amazon (AMZN) at a total price of $110.86. Like GOOGL, interested readers can check out my investment thesis on AMZN in my April 2022 Dividend Stock Purchases blog post.

My first dividend stock purchase executed in the month of May was four shares of Crown Castle International (CCI) at an average cost per share of $112.63. For more details on why I like the stock (and Innovative Industrial Properties), please feel free to check out this Motley Fool article from last December. This transaction added $25.04 to my net annual forward dividends, which equates to a net dividend yield of 5.56%.

The next dividend stock purchase that I completed last month was 14 shares of Comcast (CMCSA) at an average price of $39.83 a share. For my buying rationale, you can check out my May 2023 Dividend Stock Watch List blog post. This order boosted my net annual forward dividends by $16.24, which is equivalent to a 2.91% dividend yield.

My third dividend stock purchase that I made in May was three shares of Texas Instruments (TXN) at an average cost per share of $176.09. My thoughts on the stock can also be found within my May 2023 Dividend Stock Watch List blog post linked above. The $14.88 in net annual forward dividends that I added to my portfolio from this purchase works out to a net dividend yield of 2.82%.

The next dividend stock purchase that I executed last month was four shares of NextEra Energy (NEE) at an average price of $73.33 per share. Intrigued readers can peruse my Motley Fool article from last month on the stock (and Broadcom) for my investment thesis. This dividend stock purchase increased my net annual forward dividends by $7.48, which equates to a 2.55% dividend yield.

My fifth dividend stock purchase that I completed in May was two shares of Home Depot (HD) at an average cost per share of $290.17. Readers can pore over my May 2023 Dividend Stock Watch List blog post linked above for my basic investment thesis. This transaction added $16.72 to my net annual forward dividends, which is equivalent to a net dividend yield of 2.88%.

The last dividend stock purchase that I made in May was two shares of Albemarle (ALB) at an average price of $200.15 per share. My investment thesis for ALB (and Procter & Gamble and Air Products and Chemicals) can be found in this Motley Fool article from April. This dividend stock purchase raised my net annual forward dividends by $3.20, which works out to a 0.8% dividend yield.

Concluding Thoughts:

I allocated $3,037.90 in capital to stock purchases last month. Compared to the $83.56 in net annual forward dividends that I added to my portfolio in May 2023, this equates to a weighted average net dividend yield of 2.75%.

Coupled with the $6.84 in net annual forward dividends growth from payout hikes during the month, my net annual forward dividends soared from more than $3,740 at the start of May to just shy of $3,830 at the end of the month.

Discussion:

How was your May 2023 for dividend stock purchases?

Did you start any new positions last month?

I appreciate your readership and welcome your comments below!