Expected Dividend Increases for December 2023

As I'm writing this blog post, it's hard to believe it is December 1st. If it weren't for a glance at the calendar, you wouldn't know that it is December here in Central Wisconsin. It currently feels like 33 degrees Fahrenheit, which is pretty great for this time of year.

With that aside, now is time to look at the dividend increases that I received last month. I will also preview the dividend announcements that I expect for this month. Let's dig in!

Actual Dividend Increases for November 2023

Dividend Increase #1: Main Street Capital (MAIN)

Main Street Capital announced a 2.1% increase in its monthly dividend per share to $0.24, which met my forecast.

This dividend bump raised my net annual forward dividends by $1.80 across my 30 shares of MAIN.

Dividend Increase #2: Aflac (AFL)

Aflac declared a 19% hike in its quarterly dividend per share to $0.50. This was well above my expectation of a 4.8% increase to $0.44.

Across my 11 shares of AFL, my net annual forward dividends surged higher by $3.52 due to this dividend declaration.

Dividend Increase #3: Automatic Data Processing (ADP)

Automatic Data Processing announced a 12% boost in its quarterly dividend per share to $1.40, which was just above my prediction of 10.4% and $1.38.

My net annual forward dividends grew by $4.20 across my seven shares of ADP as a result of this dividend announcement.

Dividend Increase #4: Merck (MRK)

Merck declared a 5.5% increase in its quarterly dividend per share to $0.77. This was also in line with my projection.

Across my 11 shares of MRK, my net annual forward dividends rose by $1.76 due to this dividend declaration.

Dividend Freeze: Simon Property Group (SPG)

Simon Property Group announced that it was keeping its quarterly dividend per share in line with the previous of $1.90. I don't really mind SPG's conservatism in light of the current environment, so I am fine with a pause on the dividend increases.

Expected Dividend Increases for December 2023

Expected Dividend Increase #1: Realty Income (O)

I believe Realty Income will declare a 0.2% increase in its monthly dividend per share to $0.2565.

Across my 24 shares of O, my net annual forward dividends would rise by $0.144 from such a declaration.

Expected Dividend Increase #2: Abbott Laboratories (ABT)

My best guess is that Abbott Laboratories will announce a 5.9% boost in its quarterly dividend per share to $0.54.

My net annual forward dividends would grow by $0.72 across my six shares of ABT if such an announcement plays out.

Expected Dividend Increase #3: Amgen (AMGN)

I predict that Amgen will declare an 8% raise in its quarterly dividend per share to $2.30.

Across my six shares of AMGN, my net annual forward dividends would increase by $4.08 from such a declaration.

Expected Dividend Increase #4: American Tower (AMT)

I believe that American Tower will announce a 3.7% increase in its quarterly dividend per share to $1.68.

My net annual forward dividends would rise by $1.44 across my six shares of AMT if such an announcement materializes.

Expected Dividend Increase #5: Bristol Myers Squibb (BMY)

My best guess is that Bristol Myers Squibb will declare a 5.3% raise in its quarterly dividend per share to $0.60.

Across my 22 shares of BMY, my net annual forward dividends would grow by $2.64 from such a declaration.

Expected Dividend Increase #6: Broadcom (AVGO)

I predict that Broadcom will announce a 10.9% boost in its quarterly dividend per share to $5.10.

My net annual forward dividends would rise by $8 across my four shares of AVGO if such an announcement plays out.

Expected Dividend Increase #7: CVS Health (CVS)

I believe that CVS Health will declare a 9.1% increase in its quarterly dividend per share to $0.66.

Across my 15 shares of CVS, my net annual forward dividends would increase by $3.30 from such a declaration.

Expected Dividend Increase #8: Eastman Chemical (EMN)

My best guess is that Eastman Chemical will announce a 3.8% raise in its quarterly dividend per share to $0.82.

My net annual forward dividends would grow by $0.84 across my seven shares of EMN if such an announcement materializes.

Expected Dividend Increase #9: Pfizer (PFE)

I predict that Pfizer will declare a 2.4% increase in its quarterly dividend per share to $0.42.

Across my 26 shares of PFE, my net annual forward dividends would rise by $1.04 from such a declaration.

Expected Dividend Increase #10: Mastercard (MA)

I believe that Mastercard will announce a 15.8% boost in its quarterly dividend per share to $0.66.

My net annual forward dividends would increase by $1.44 across my four shares of MA if my estimate pans out.

Concluding Thoughts:

There you have it. I am slated to receive an additional $11.28 in net annual forward dividends due to the four increases last month. It would take $376 invested at a 3% dividend yield to replicate the effect that dividend increases had on my income.

This month is poised to be a pretty busy one on the dividend announcement front, so it will be interesting to see how they all play out! If these predictions play out as anticipated, my net annual forward dividends would surge higher by $23.644. This would be equivalent to investing $788.13 at a 3% dividend yield.

Discussion:

How were your dividend increases for the month of November?

Did you receive any first-time raises as I did with ADP?

Thanks for reading and please feel free to comment below!