Expected Dividend Increases for January 2024

As I'm writing this blog post on Monday, December 18th, it is currently 21 degrees Fahrenheit here in Central Wisconsin, but it feels like just 5 degrees! Fortunately, the high temperatures will climb back into the 40s in time for the Christmas holiday weekend. As it stands, we're looking at our first snow-free Christmas since 2018!

With that aside, all of the dividend raises that I expected for this month have already been announced (and two additional raises). Thus, I will go over those payout increases and look ahead to the ones that I am expecting for January 2024.

Actual Dividend Increases for December 2023

Dividend Increase #1: Abbott Laboratories (ABT)

Abbott Laboratories declared a 7.8% raise in its quarterly dividend per share to $0.55. This was slightly better than the 5.9% increase that I was expecting to $0.54.

Across my six shares of ABT, my net annual forward dividends edged $0.96 higher from this dividend declaration.

Dividend Increase #2: Amgen (AMGN)

Amgen announced a 5.6% bump in its quarterly dividend per share to $2.25, which was less than the 8% increase that I was anticipating. However, that's justified considering the company's recently completed acquisition of Horizon Therapeutics.

My net annual forward dividends surged $2.88 higher across my six shares of AMGN due to this dividend announcement.

Dividend Increase #3: American Tower (AMT)

American Tower declared a 5.6% raise in its quarterly dividend per share to $1.70. This was better than the 3.7% increase to $1.68 that I predicted.

Across my six shares of AMT, my net annual forward dividends grew by $1.92 from this dividend declaration.

Dividend Increase #4: Broadcom (AVGO)

Broadcom announced a 14.1% boost in its quarterly dividend per share to $5.25, which was much more than the 10.9% increase to $5.10 that I was expecting.

My net annual forward dividends rocketed $10.40 higher across my four shares of AVGO due to this dividend announcement.

Dividend Increase #5: Bristol Myers Squibb (BMY)

Bristol Myers Squibb declared a 5.3% raise in its quarterly dividend per share to $0.60. That's exactly what I anticipated.

Across my 22 shares of BMY, my net annual forward dividends climbed higher by $2.40 from this dividend declaration.

Dividend Increase #6: CVS Health (CVS)

CVS Health announced a 9.9% boost in its quarterly dividend per share to $0.665, which was just above the $0.66 that I predicted.

My net annual forward dividends grew by $3.60 across my 15 shares of CVS due to this dividend announcement.

Dividend Increase #7: Eastman Chemical (EMN)

Eastman Chemical declared a 2.5% increase in its quarterly dividend per share to $0.81. That was less than the $0.82 that I expected.

Across my seven shares of EMN, my net annual forward dividends rose by $0.56 from this dividend declaration.

Dividend Increase #8: Innovative Industrial Properties (IIPR)

Innovative Industrial Properties announced a 1.1% raise in its quarterly dividend per share.

My net annual forward dividends inched $0.48 higher across my six shares of IIPR due to this dividend announcement.

Dividend Increase #9: Mastercard (MA)

Mastercard declared a 15.8% boost in its quarterly dividend per share to $0.66, which was what I predicted.

Across my four shares of MA, my net annual forward dividends grew by $1.44 from this dividend declaration.

Dividend Increase #10: Realty Income (O)

Realty Income announced a 0.2% increase in its monthly dividend per share to $0.2565. This was in line with my expectations.

My net annual forward dividends edged higher by $0.144 across my 24 shares of O due to this dividend announcement.

Dividend Increase #11: Pfizer (PFE)

Pfizer declared a 2.4% raise in its quarterly dividend per share to $0.42, which was what I forecasted.

Across my 26 shares of PFE, my net annual forward dividends rose by $1.04 from this dividend declaration.

Dividend Increase #12: U.S. Bancorp (USB)

U.S. Bancorp announced a 2.1% bump in its quarterly dividend per share to $0.49.

My net annual forward dividends increased by $1.04 across my 26 shares of USB due to this dividend announcement.

Expected Dividend Increases for January 2024

Expected Dividend Increase #1: Air Products & Chemicals (APD)

My best guess is that Air Products & Chemicals will declare an 8% boost in its quarterly dividend per share to $1.89.

Across my five shares of APD, my net annual forward dividends would grow by $2.80 from such a dividend declaration.

Expected Dividend Increase #2: BlackRock (BLK)

I believe that BlackRock will announce a 2% increase in its quarterly dividend per share to $5.10.

My net annual forward dividends would rise by $0.80 across my two shares of BLK if this dividend announcement materializes.

Expected Dividend Increase #3: Comcast (CMCSA)

My projection is that Comcast will declare a 6.9% raise in its quarterly dividend per share to $0.31.

Across my 39 shares of CMCSA, my net annual forward dividends would surge higher by $3.12 from such a dividend declaration.

Expected Distribution Increase #4: Enterprise Products Partners (EPD)

My best guess is that Enterprise Products Partners will up its quarterly distribution per unit by 2% to $0.51.

My net annual forward distributions would rise by $2.08 across my 52 units of EPD if this prediction pans out.

Expected Distribution Increase #5: Energy Transfer (ET)

I predict that Energy Transfer will announce a 0.8% raise in its quarterly distribution per unit to $0.315.

Across my 86 units of ET, my net annual forward distributions would grow by $0.86 from such a dividend announcement.

Expected Dividend Increase #6: Kimberly Clark (KMB)

My forecast is that Kimberly Clark will declare a 3.4% increase in its quarterly dividend per share to $1.22.

My net annual forward dividends would rise by $0.64 across my four shares of KMB if this prediction becomes reality.

Expected Dividend Increase #7: Kinder Morgan (KMI)

My best guess is that Kinder Morgan will announce a 2.7% raise in its quarterly dividend per share to $0.29.

Across my 64 shares of KMI, my net annual forward dividends would increase by $1.92 from such a dividend announcement.

Expected Dividend Increase #8: Alliant Energy (LNT)

I predict that Alliant Energy will declare a 6.1% boost in its quarterly dividend per share to $0.48.

My net annual forward dividends would grow by $1.43 across my 13 shares of LNT if this dividend declaration occurs.

Expected Dividend Increase #9: ONEOK (OKE)

I believe that ONEOK will announce a 2.1% increase in its quarterly dividend per share to $0.975.

Across my 34 shares of OKE, my net annual forward dividends would rise by $2.72 from such a dividend announcement.

Expected Dividend Increase #10: WEC Energy Group (WEC)

My best guess is that WEC Energy Group will declare a 6.7% raise in its quarterly dividend per share to $0.8325.

My net annual forward dividends would increase by $2.52 across my 12 shares of WEC if this dividend declaration happens.

Concluding Thoughts:

The 12 dividend boosts that I received in December helped my net annual forward dividends grow by $26.864. For context, it would take an $895.47 investment at a 3% yield to replicate the effect of dividend growth on my portfolio for the month.

Looking ahead to next month, I anticipate that I will receive an $18.89 lift in my net annual forward dividends from 10 dividend raises. That is like investing $629.67 at a 3% dividend yield.

Discussion:

How have your dividend increases been thus far for December 2023?

Did you benefit from any first-time dividend boosts?

I appreciate your readership and welcome your comments below!