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!