As I'm writing this blog post on Saturday, August 19, it is expected to reach a high of 92 degrees Fahrenheit today here in Central Wisconsin. That's about 10- to 15 degrees hotter than my ideal temperature, but I'll make the most of it!
With that aside, I have received all but one dividend raise thus far for the month of August. Once Altria Group (MO) announces the 4.3% increase in its quarterly dividend per share to $0.98 as I expect on Thursday, August 24, I will update it. But without further ado, let's look back on the payout increases that I have received so far and preview raises that I am expecting for September 2023.
Actual Dividend Increases for August 2023
Dividend Increase #1: Iron Mountain (IRM)
After almost four years of freezing its dividend to deleverage and get down to its target payout ratio, Iron Mountain hiked its quarterly dividend per share by 5.1% to $0.65. This was certainly a welcomed dividend announcement as I wasn't sure whether it would come this year or the next!
Across my 13 shares of IRM, my net annual forward dividends rose by $1.638 due to this announcement.
Dividend Increase #2: Essential Utilities (WTRG)
Essential Utilities declared a 7% increase in its quarterly dividend per share to $0.3071. This was basically in line with my expectation of a raise to $0.3070.
My net annual forward dividends edged $0.804 higher across my 10 shares of WTRG as a result of this declaration.
Dividend Increase #3: Main Street Capital (MAIN)
Main Street Capital announced a 2.2% bump in its monthly dividend per share to $0.235, which was precisely what I anticipated.
Across my 30 shares of MAIN, my net annual forward dividends grew by $1.80 due to this announcement.
Dividend Increase #4: Simon Property Group (SPG)
Simon Property Group declared a 2.7% increase in its quarterly dividend per share to $1.90. Again, this was what I expected.
My net annual forward dividends were boosted by $1.80 across my nine shares of SPG as a result of this declaration.
Dividend Increase #5: Spirit Realty Capital (SRC)
Spirit Realty Capital announced a 1% raise in its quarterly dividend per share to $0.6696. Across my 20 shares of SRC, my net annual forward dividends inched $0.528 higher due to this announcement.
Dividend Increase #6: Altria Group (MO)
Just as expected, Altria Group upped its quarterly dividend per share by 4.3% to $0.98. Across my 24 shares, this boosted my net annual forward dividends by $3.84.
Dividend Cut: Medical Properties Trust (MPW)
Medical Properties Trust slashed its quarterly dividend per share by 48.3% to $0.15. I'm somewhat surprised it took this long for it to play out. But as bitter sweet as the cut is, I think it will be viewed as a positive in a few years.
Across my 64 shares of MPW, my net annual forward dividends plunged by $35.84 from this dividend declaration.
Expected Dividend Increases for September 2023
Expected Dividend Increase #1: Realty Income (O)
The first dividend increase that I'm expecting in September 2023 is from Realty Income. My best guess is that O will declare a 0.2% increase in its monthly dividend per share to $0.256.
If this raise plays out as expected, my net annual forward dividends would increase by $0.144 across my 24 shares of O.
Expected Dividend Increase #2: W.P. Carey (WPC)
The next dividend raise that I anticipate for next month will be from W.P. Carey. I believe WPC will announce a 0.2% bump in its quarterly dividend per share to $1.071.
Across my 14 shares of WPC, my net annual forward dividends would rise by $0.112 from such an announcement.
Expected Dividend Increase #3: American Tower (AMT)
The third dividend bump that I'm predicting in September 2023 is from American Tower. I project that AMT will declare a 1.9% increase in its quarterly dividend per share to $1.60.
My net annual forward dividends would grow by $0.72 across my six shares of AMT due to such a dividend declaration.
Expected Dividend Increase #4: VICI Properties (VICI)
The next dividend increase that I am expecting for next month will be from VICI Properties. My best guess it that VICI will announce a 7.7% hike in its quarterly dividend per share to $0.42.
Across my 48 shares of VICI, my net annual forward dividends would soar by $5.76 as a result of such an announcement.
Expected Dividend Increase #5: Philip Morris International (PM)
The fifth dividend raise that I anticipate in September 2023 is from Philip Morris International. I believe PM will declare a 3.1% raise in its quarterly dividend per share to $1.31.
My net annual forward dividends would be lifted by $3.36 due to such a declaration across my 21 shares of PM.
Expected Dividend Increase #6: Verizon Communications (VZ)
The next dividend increase that I'm predicting for next month will be from Verizon Communications. I project that VZ will announce a 1.9% increase in its quarterly dividend per share to $0.665.
Across my 45 shares of VZ, my net annual forward dividends would grow by $2.25 from such an announcement.
Expected Dividend Increase #7: U.S. Bancorp (USB)
The seventh dividend raise that I am expecting in September 2023 is from U.S. Bancorp. My best guess is that USB will declare a 4.2% boost in its quarterly dividend per share to $0.50.
My net annual forward dividends would rise by $2.08 across my 26 shares of USB due to such a declaration.
Expected Dividend Increase #8: Microsoft (MSFT)
The next dividend increase that I'm anticipating for next month will be from Microsoft. I believe MSFT will announce an 8.8% raise in its quarterly dividend per share to $0.74.
Across my five shares of MSFT, my net annual forward dividends would grow by $1.20 from such an announcement.
Expected Dividend Increase #9: Starbucks (SBUX)
The ninth dividend boost that I am predicting in September 2023 is from Starbucks. I project that SBUX will declare a 7.5% raise in its quarterly dividend per share to $0.57.
My net annual forward dividends would increase by $1.60 across my 10 shares of SBUX due to such a declaration.
Expected Dividend Increase #10: Lockheed Martin (LMT)
The final dividend hike that I'm expecting for next month will be from Lockheed Martin. My best guess is that LMT will raise its quarterly dividend per share by 6.7% to $3.20.
Across my four shares of LMT, my net annual forward dividends would surge higher by $3.20 from such an announcement.
Concluding Thoughts:
My net annual forward dividends have shrank by $25.43 in August. Excluding the cut from MPW, my net annual forward dividends would have grown by $10.41.
Looking ahead to September, my net annual forward dividends could rise by $20.426 if the 10 raises that I expect pan out as a whole. That would be equivalent to investing $680.87 in capital at an average 3% dividend yield.
Discussion:
How was your August for payout raises?
Did you receive any first-time dividend increases during the month as I did with SRC?
I appreciate your readership and welcome your comments below!
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