August 2023 Dividend Stock Watch List

As I'm writing this blog post on July 15th, the weather here in Central Wisconsin couldn't be more ideal for this time of year: The high temperature is set to reach 83 degrees Fahrenheit, which is why I plan on getting outside as much as possible today.

With that aside, the time of the month means that it isn't a bad idea to look ahead a couple of weeks to dividend stocks that will be on my watch list for August 2023.

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Dividend Stock #1: AbbVie (ABBV)

The first dividend stock on my watch list for next month is AbbVie (ABBV). Readers interested in my investment thesis for the stock can check out my Motley Fool article from last month (also covering Air Products & Chemicals and PepsiCo).

But the gist of my thesis is as follows: AbbVie's medicine portfolio and drug pipeline position it well for both the near future and the long-term. The company also offers a generous and well-covered 4.4% dividend yield for an attractive valuation at the current $136 share price (as of July 15, 2023).

Dividend Stock #2: Lowe's (LOW)

The next dividend stock that I'm watching for August 2023 is Lowe's (LOW). Curious readers can peruse my Motley Fool article from June on the stock.

In a nutshell, Lowe's is holding up better than you'd expect in an environment with shrinking home renovation budgets. Also, the company's 1.9% yield is safe and not too shabby of starting income for its decent dividend growth prospects. And Lowe's stock isn't unreasonably valued at the present $229 share price (as of July 15, 2023), either.

Dividend Stock #3: VICI Properties (VICI)

The third dividend stock on my watch list for next month is VICI Properties (VICI). Readers can visit my Motley Fool article from last month for the investment thesis.

VICI has made its shareholders richer than the tech-heavy Nasdaq Composite would have over the past five years. For some, that's probably a surprise. But those who know the quality of VICI's real estate portfolio and business model likely aren't the least bit shocked by this outperformance. The stock's sustainable 5% dividend yield and somewhat cheap valuation at the current $32 share price (as of July 15, 2023) seal the deal for me.

Concluding Thoughts:

As has been the case for a while now, I expect that my capital allocation should (hopefully) remain between $3,000 and $3,500 for August 2023. This should allow me to continue rapidly building up my portfolio with world-class businesses in the near future!

Discussion:

Are any of ABBV, LOW, or VICI on your watch list for next month?

If not, what stocks are you considering for August 2023?

I appreciate your readership and welcome your comments below!