Expected Dividend Increases for October 2023

As I'm writing this blog post on Saturday, September 23, it is currently 64 degrees Fahrenheit and raining. That's basically perfect weather for staying inside and writing a blog post!

With that aside, now would be a good time to write about the dividend increases that I received during the month. Let's dig in.

Actual Dividend Increases for September 2023

Dividend Increase #1: Verizon Communications (VZ)

Verizon Communications declared a 1.9% bump in its quarterly dividend per share to $0.665, which was as I expected in my previous blog post of this series.

Across my 45 shares of VZ, my net annual forward dividends rose by $2.25 from this dividend declaration.

Dividend Increase #2: VICI Properties (VICI)

VICI Properties announced a 6.4% increase in its quarterly dividend per share to $0.415. This was just below my expectation of $0.42.

My net annual forward dividends soared by $4.80 due to this dividend announcement across my 48 shares of VICI.

Dividend Increase #3: Realty Income (O)

Realty Income declared a 0.2% raise in its monthly dividend per share to $0.256, which was what I anticipated.

Across my 24 shares of O, my net annual forward dividends edged $0.144 higher from such a dividend declaration.

Dividend Increase #4: Philip Morris International (PM)

Philip Morris International announced a 2.4% increase in its quarterly dividend per share to $1.30. That was just below the $1.31 that I was predicting.

My net annual forward dividends were lifted by $2.52 across my 21 shares of PM due to this dividend announcement.

Dividend Increase #5: Microsoft (MSFT)

Microsoft declared a 10.3% raise in its quarterly dividend per share to $0.75, which was just above my forecast of $0.74.

Across my five shares of MSFT, my net annual forward dividends rose by $1.40 from this dividend declaration.

Dividend Increase #6: W.P. Carey (WPC)

W.P. Carey announced a 0.2% increase in its quarterly dividend per share to $1.071. That was what in line with my expectation.

My net annual forward dividends grew by $0.112 across my 14 shares of WPC due to this dividend announcement.

Dividend Increase #7: American Tower (AMT)

American Tower declared a 3.2% raise in its quarterly dividend per share to $1.62, which was better than the $1.60 that I anticipated.

Across my six shares of AMT, my net annual forward dividends increased by $1.20 from this dividend declaration.

Dividend Increase #8: Starbucks (SBUX)

Starbucks announced a 7.5% boost in its quarterly dividend per share to $0.57. That was exactly what I expected.

My net annual forward dividends surged higher by $1.60 across my 10 shares of SBUX due to this dividend announcement.

Dividend Increase #9: Texas Instruments (TXN)

Texas Instruments declared a 4.8% increase in its quarterly dividend per share to $1.30. Across my 12 shares of TXN, this lifted my net annual forward dividends by $2.88.

Dividend Freeze: U.S. Bancorp (USB)

Rather than raise its quarterly dividend per share to $0.50 as I expected, U.S. Bancorp opted to keep its dividend per share the same at $0.48. In this economic environment, that's probably not a bad idea, though.

Expected Dividend Increases for October 2023

Expected Dividend Increase #1: McDonald's (MCD)

The first dividend boost that I'm expecting for next month will be from McDonald's. My best guess is that MCD will up their quarterly dividend per share by 7.3% to $1.63.

Across my three shares of MCD, my net annual forward dividends would rise by $1.32 if this raise plays out as expected.

Expected Dividend Increase #2: A.O. Smith (AOS)

The next dividend raise that I am predicting for October is from A.O. Smith. I believe AOS will announce a 10% raise in its quarterly dividend per share to $0.33.

My net annual forward dividends would grow by $1.44 across my 12 shares of AOS if this dividend boost materializes.

Expected Dividend Increase #3: Crown Castle International (CCI)

The third dividend increase that I'm forecasting for next month will be from Crown Castle International. I predict that CCI will declare a 4.8% raise in its quarterly dividend per share to $1.64.

Across my eight shares of CCI, my net annual forward dividends would be lifted by $2.40 from such a declaration.

Expected Dividend Increase #4: Tanger Factory Outlet Centers (SKT)

The next dividend raise that I'm expecting for October is from Tanger Factory Outlet Centers. My best guess is that SKT will announce an 8.2% increase in its quarterly dividend per share to $0.265.

My net annual forward dividends would rise by $0.88 across my 11 shares of SKT due to such an announcement.

Expected Dividend Increase #5: American Electric Power (AEP)

The fifth dividend increase that I'm predicting for next month will be from American Electric Power. I believe that AEP will declare a 6% raise in its quarterly dividend per share to $0.88.

Across my 15 shares of AEP, my net annual forward dividends would surge higher by $3 from such a declaration.

Expected Dividend Increase #6: Pinnacle West Capital (PNW)

The next dividend raise that I'm forecasting for October is from Pinnacle West Capital. If I had to guess, PNW will announce a 1.7% increase in its quarterly dividend per share to $0.88.

My net annual forward dividends would grow by $0.42 across my seven shares of PNW due to such an announcement.

Expected Dividend Increase #7: Energy Transfer (ET)

The seventh distribution increase that I'm expecting for next month will be from Energy Transfer. My best guess is that ET will declare a 0.8% raise in the quarterly distribution per unit to $0.3125.

Across my 86 units of ET, my net annual forward distributions would rise by $0.86 from such a declaration.

Expected Dividend Increase #8: Exxon Mobil (XOM)

The next dividend raise that I'm predicting for October is from Exxon Mobil. I believe that XOM will announce a 4.4% bump in its quarterly dividend per share to $0.95.

My net annual forward dividends would increase by $1.76 across my 11 shares of XOM due to such an announcement.

Expected Dividend Increase #9: Visa (V)

The ninth dividend boost that I'm forecasting for next month will be from Visa. My best guess is that V will declare a 16.7% increase in its quarterly dividend per share to $0.525.

Across my seven shares of V, my net annual forward dividends would grow by $2.10 from such a declaration.

Expected Dividend Increase #10: AbbVie (ABBV)

The final dividend raise that I'm predicting for October is from AbbVie. I believe that ABBV will announce a 4.1% increase in its quarterly dividend per share to $1.54.

My net annual forward dividends would rise by $3.36 across my 14 shares of ABBV due to such an announcement.

Expected Dividend Increase #11: Lockheed Martin (LMT)

Lockheed Martin historically raised its dividend on the last Friday of September. But since it has yet to announce its raise as of Oct. 2, it looks like the raise will come sometime this month. I am standing by my estimate of a 6.7% increase in its quarterly dividend per share to $3.20.

Across my four shares of LMT, this would boost my net annual forward dividends by $3.20.

Concluding Thoughts:

My net annual forward dividends have climbed $16.906 from the nine increases announced in September. This would be equivalent to investing $563.53 in capital at a net dividend yield of 3%.

If my assumptions for next month are correct, my net annual forward dividends will soar by $20.74. This would be equivalent to investing $691.33 at a 3% dividend yield.

Discussion:

How was your September for dividend raises?

Did you receive any first-time payout increases for the month?

Thanks for reading and please feel free to comment below!