Expected Dividend Increases for March 2024

As I'm writing this blog post, it is Friday, February 16th. The high temperatures here in Central Wisconsin are expected to reach into the 40s over the next week. Needless to say, that's a heat wave for this time of year!

With that said, I have received my dividend raises that I anticipated for the month. Thus, I will be discussing those and looking ahead to the next month of dividend raises that I am predicting.

Actual Dividend Increases for February 2024

Dividend Increase #1: Shell (SHEL)

Shell announced a 3.9% increase in its quarterly dividend per share to $0.688.

Across my nine shares of SHEL, my net annual forward dividends rose by $0.936 due to this announcement.

Dividend Increase #2: Simon Property Group (SPG)

Simon Property Group declared a 2.6% raise in its quarterly dividend per share to $1.95.

My net annual forward dividends climbed by $1.80 across my nine shares of SPG from this declaration.

Dividend Increase #3: Prudential Financial (PRU)

Prudential Financial announced a 4% bump in its quarterly dividend per share to $1.30, which was in line with my prediction in the previous post of this series.

Across my 10 shares of PRU, my net annual forward dividends grew by $2 due to this announcement.

Dividend Increase #4: Tractor Supply (TSCO)

Tractor Supply declared a 6.8% raise in its quarterly dividend per share to $1.10. This was slightly below my expectation of $1.12.

My net annual forward dividends increased by $1.40 across my five shares of TSCO from this declaration.

Dividend Increase #5: Brookfield Asset Management (BAM)

Brookfield Asset Management announced an 18.8% boost in its quarterly dividend per share to $0.38. That was better than the $0.36 that I predicted.

Across my 30 shares of BAM, my net annual forward dividends climbed higher by $7.20 due to this announcement.

Dividend Increase #6: Hershey (HSY)

Hershey declared a 14.9% hike in its quarterly dividend per share to $1.37.

My net annual forward dividends grew by $3.56 across my five shares of HSY from this declaration.

Dividend Increase #7: PepsiCo (PEP)

PepsiCo announced a 7.1% raise in its quarterly dividend per share to $1.355. This was just below my forecast of $1.365.

Across my six shares of PEP, my net annual forward dividends rose by $2.16 due to this announcement.

Dividend Increase #8: Cisco Systems (CSCO)

Cisco Systems declared a 2.6% increase in its quarterly dividend per share to $0.40, which was what I projected.

My net annual forward dividends grew by $0.88 across my 22 shares of CSCO from this declaration.

Dividend Increase #9: Coca-Cola (KO)

Coca-Cola announced a 5.4% raise in its quarterly dividend per share to $0.485. That was just ahead of the $0.48 that I predicted.

Across my 10 shares of KO, my net annual forward dividends increased by $1 due to this announcement.

Dividend Increase #10: Genuine Parts Company (GPC)

Genuine Parts Company declared a 5.3% bump in its quarterly dividend per share to $1, which was below the $1.01 that I anticipated.

My net annual forward dividends edged higher by $1.20 across my six shares of GPC from this declaration.

Dividend Increase #11: NextEra Energy (NEE)

NextEra Energy announced a 10.2% boost in its quarterly dividend per share to $0.515. That was in line with my prediction.

Across my 13 shares of NEE, my net annual forward dividends grew by $2.47 due to this announcement.

Dividend Increase #12: The Home Depot (HD)

The Home Depot hasn't declared its next quarterly dividend, but I'm reiterating my forecast of a 5.7% increase to $2.21.

My net annual forward dividends would grow by $2.40 across my five shares from such a declaration.

UPDATE: HD declared a 7.7% raise in its quarterly dividend per share to $2.25. My net annual forward dividends grew by $3.20 as a result across my five shares.

Dividend Increase #13: Allstate (ALL)

Allstate hasn't announced its next quarterly dividend. However, I'm standing by my prediction of a 5.6% raise to $0.94.

Across my five shares, my net annual forward dividends would rise by $1 due to such an announcement.

UPDATE: ALL announced a 3.4% raise in its quarterly dividend per share to $0.92. Across my five shares, that was an extra $0.60 in net annual forward dividends.

Dividend Increase #14: L3Harris Technologies (LHX)

L3Harris Technologies hasn't announced its next quarterly dividend. Yet, I believe that it will be upped by 4.4% to $1.19.

Across my four shares of LHX, my net annual forward dividends would increase by $0.80 due to such an announcement.

UPDATE: LHX announced a 1.8% increase in its quarterly dividend per share to $1.16. My net annual forward dividends grew by $0.32 across my four shares.

Dividend Freeze: Albemarle (ALB)

Albemarle hasn't yet declared its next quarterly dividend. But I am maintaining my expectation of a 1.3% raise to $0.405.

My net annual forward dividends would increase by $0.16 across my eight shares from such a declaration.

UPDATE: Albemarle kept its quarterly dividend per share at $0.40. Given its capex situation and industry headwinds, I don't necessarily blame the company for doing so.

Expected Dividend Increases for March 2024

Expected Dividend Increase #1: Dollar General (DG)

My best guess is that Dollar General will declare a 6.8% increase in its quarterly dividend per share to $0.63.

My net annual forward dividends would grow by $0.64 across my four shares if such a declaration plays out.

Expected Dividend Increase #2: General Dynamics (GD)

I believe that General Dynamics will announce a 6.1% raise in its quarterly dividend per share to $1.40.

Across my six shares of GD, my net annual forward dividends would rise by $1.92 from such an announcement.

Expected Dividend Increase #3: Realty Income (O)

I am predicting that Realty Income will declare a 0.2% increase in its monthly dividend per share to $0.257.

My net annual forward dividends would edge higher by $0.234 across my 39 shares of O if such a declaration pans out.

Expected Dividend Increase #4: TJX Companies (TJX)

My best guess is that TJX Companies will announce an 11.3% hike in its quarterly dividend per share to $0.37.

Across my 11 shares of TJX, my net annual forward dividends would rise by $1.65 from such an announcement.

Expected Dividend Increase #5: Williams-Sonoma (WSM)

I believe that Williams-Sonoma will declare a 6.7% bump in its quarterly dividend per share to $0.96.

My net annual forward dividends would grow by $2.40 across my 10 shares of WSM if such a declaration occurs.

Concluding Thoughts:

With no anticipated announcements remaining, my net annual forward dividends grew by $28.726 in February 2024. That would be equivalent to investing $957.53 in capital at a 3% weighted average dividend yield.

If the five raises that I'm expecting materialize in March, my net annual forward dividends would grow by $6.844. This would be similar to investing $228.13 in capital at a 3% net dividend yield.

Discussion:

How was your February 2024 for dividend hikes?

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

I appreciate your readership and look forward to your comments!

March 2024 Dividend Stock Watch List

As I'm writing this blog post, Valentine's Day is just two days away. The weather here in Central Wisconsin has remained unusually warm, with the high temperature today reaching 45 degrees Fahrenheit. That's well above the average high of 30 degrees Fahrenheit for the month of February, so I'm very happy to have such warm weather.

Now that I have largely built up my liquidity to my preferences, I am tentatively planning on being a buyer of equities in March with my own capital. Without further ado, please allow me to briefly discuss a few of the stocks on my watch list heading into next month.

Image Source: Pexels

Dividend Stock #1: Agree Realty (ADC)

The first dividend stock on my watch list for March 2024 is Agree Realty (ADC). Readers can check out my Seeking Alpha article from December for the in-depth investment thesis.

The gist of it is that I'm very impressed with CEO Joey Agree's knowledge base and transparency. ADC's ~5% dividend yield is well-covered and I believe can keep growing by around 4% to 5% annually. That's an attractive combination of starting income and growth potential. Lastly, shares could be worth well into the $70 range, suggesting sizable undervaluation at the current $58 share price. Therefore, I want to open a position in ADC.

Dividend Stock #2: Automatic Data Processing (ADP)

Next up on my watch list for next month is Automatic Data Processing (ADP). Curious readers can find my detailed investment thesis in my recent Seeking Alpha article.

ADP's 2.2% dividend yield isn't flashy, but its payout ratio is reasonable. The company's growth prospects are also quite strong. Lastly, shares are slightly discounted at the present $250 share price. Thus, why I want to add to my position.

Dividend Stock #3: Enbridge (ENB)

Last but not least on my watch list for March 2024 is Enbridge (ENB). Intrigued readers can check out my more specific investment thesis outlined in my Seeking Alpha article from December.

Like ADC and ADP, ENB's 7.8% dividend yield appears to be safely covered. Combined with modest growth prospects and a discounted valuation from the current $35 share price, this is why I am interested in opening a position.

Concluding Thoughts:

I'm excited to have the opportunity to be a net buyer of dividend stocks for the first time since August 2023. Along with a few other stocks that are on my watch list, I believe my targeted adds are very high-quality companies.

Discussion:

Are any of the noted stocks on your watch list for March 2024?

If not, what stocks are on your radar for next month?

As always, I'm grateful for your readership and welcome your comments below!

January 2024 Dividend Income

As I'm writing this blog post, it is February 5th. Yet, the temperature here in Central Wisconsin is 49 degrees Fahrenheit. Suffice it to say, that's very warm weather for this time of the year. Better yet, the temperatures are expected to stay around or above freezing here for at least the next week.

With that in mind, I will discuss my net dividend income for January 2024. Without further ado, let's dig into it!

In January 2024, I received $265.76 in net dividends (disregarding the $5.25 payment from Broadcom that Webull indicates was paid on 1/2 when it was paid by the company on 12/29). That was 5.9% less than the $282.51 in net dividends that I collected in October 2023. But when adjusting for my sales of W.P. Carey (WPC) in October 2023 and Medical Properties Trust (MPW) in November 2023, my net dividends were up 3%.

Against the $220.01 in net dividends received in January 2023, this works out to a 20.8% year-over-year growth rate. When adjusting for the sales of WPC and MPW, my net dividends were higher by 28.5%.

Digging deeper, I collected $255.30 in net dividends from 28 companies within my Robinhood account. The $10.24 received in net dividends in my Webull portfolio were paid by five companies. Finally, I collected $0.22 in net dividends from nine companies within my M1 Finance account.

My net dividends from Digital Realty Trust (DLR) in my Robinhood account were $12.20 more because of the timing of its dividend payment.

I received an extra $0.26 from U.S. Bancorp (USB) within my Robinhood portfolio, which was due to the 2.1% increase in the dividend announced in December.

My net dividends collected from Innovative Industrial Properties (IIPR) were $0.12 higher in my Robinhood account as a result of the 1.1% bump in the dividend declared in December.

I received an additional $0.15 in net dividends from Main Street Capital (MAIN) within my Robinhood portfolio. That was due to the 2.1% raise in the monthly dividend announced in November.

My net dividends collected from Realty Income (O) in my Robinhood account were $0.02 greater because of the 0.2% increase in the monthly dividend declared in December.

I received an extra $0.16 in net dividends from GSK plc (GSK) within my Robinhood portfolio, which was due to the variability of the dividend payment.

My net dividends collected from Merck (MRK) were $0.44 higher in my Robinhood account. That was because of the 5.5% raise in the dividend announced in November.

I received an additional $0.14 in net dividends from Eastman Chemical (EMN) within my Robinhood portfolio, which was due to the 2.5% increase in the dividend declared in December.

My net dividends collected from PepsiCo (PEP) were $7.62 higher in my Robinhood and M1 Finance accounts. That was thanks to the timing of the dividend payment.

I received an extra $1.05 in net dividends from Automatic Data Processing (ADP) within my Robinhood portfolio, which was the result of the 12% dividend hike announced in November.

My net dividends collected from MPW in my Robinhood account were reduced by $9.60 due to my aforementioned sale.

I received $14.99 less in net dividends from WPC within my Robinhood portfolio, which was a result of my aforementioned sale.

My net dividends collected from American Tower (AMT) were $9.72 less in my Robinhood account. That was due to the timing of the dividend payment.

I received $4.60 less in net dividends from Coca-Cola (KO) within my Robinhood portfolio, which was also the result of the timing of the dividend payment.

Discussion:

How was your January 2024 for dividend income?

Did you receive first-time dividends in your portfolio last month?

I appreciate your readership and welcome your comments below!

Expected Dividend Increases For February 2024

As I'm writing this blog post, it is January 30th. If it weren't for a look at the calendar, I would think that it's already March! The temperature here in Central Wisconsin is currently 38 degrees Fahrenheit. For at least the next week, high temperatures will remain in the high-30 to mid-40 degrees Fahrenheit range.

With this in mind, the end of January means that it is time to look at my dividend raises received during the month. I will also look ahead to the raises that I anticipate for February 2024. Without further ado, let's dive into it!

Actual Dividend Increases For January 2024

Dividend Increase #1: STAG Industrial (STAG)

STAG Industrial declared a 0.7% bump in its monthly dividend per share to $0.1233.

Across my 21 shares of STAG, this declaration lifted my net annual forward dividends higher by $0.2016.

Dividend Increase #2: BlackRock (BLK)

BlackRock announced a 2% increase in its quarterly dividend per share to $5.10. This was in line with what I predicted in the previous post of this series.

My net annual forward dividends rose by $0.80 across my two shares of BLK as a result of this announcement.

Dividend Increase #3: Alliant Energy (LNT)

Alliant Energy declared a 6.1% raise in its quarterly dividend per share to $0.48, which was what I anticipated.

Across my 13 shares of LNT, my net annual forward dividends grew by $1.43 due to this declaration.

Dividend Increase #4: ONEOK (OKE)

ONEOK announced a 3.7% bump in its quarterly dividend per share to $0.99. This was better than the $0.975 that I expected.

My net annual forward dividends were lifted by $4.76 across my 34 shares of OKE from this announcement.

Dividend Increase #5: Kimberly Clark (KMB)

Kimberly Clark declared a 3.4% increase in its quarterly dividend per share to $1.22, which was what I predicted.

Across my four shares of KMB, my net annual forward dividends rose by $0.64 due to this declaration.

Dividend Increase #6: Air Products & Chemicals (APD)

Air Products & Chemicals announced a 1.1% raise in its quarterly dividend per share to $1.77. This was much less than the $1.89 that I anticipated. But I think that the conservative raise was the right move as APD focuses on major projects to fuel robust future growth.

My net annual forward dividends grew by $0.40 across my five shares of APD from this announcement.

Dividend Increase #7: Comcast (CMCSA)

Comcast declared a 6.9% hike in its quarterly dividend per share to $0.31, which was what I expected.

Across my 39 shares of CMCSA, my net annual forward dividends were lifted by $3.12 due to this declaration.

Distribution Increase #8: Energy Transfer (ET)

Energy Transfer announced a 0.8% bump in its quarterly distribution per unit to $0.315. This was in line with my prediction.

My net annual forward distributions rose by $0.86 across my 86 units of ET from this announcement.

Distribution Increase #9: Enterprise Products Partners (EPD)

Enterprise Products Partners declared a 3% increase in its quarterly distribution per unit to $0.515, which was ahead of the $0.51 that I anticipated.

Across my 52 units of EPD, my net annual forward distributions grew by $3.12 due to this declaration.

Dividend Increase #10: United Parcel Service (UPS)

United Parcel Service announced a 0.6% raise in its quarterly dividend per share to $1.63.

My net annual forward dividends were lifted by $0.20 across my five shares of UPS from this announcement.

Dividend Increase #11: T. Rowe Price Group (TROW)

T. Rowe Price Group declared a 1.6% bump in its quarterly dividend per share to $1.24.

Across my six shares of TROW, my net annual forward dividends rose by $0.48 due to this declaration.

Dividend Increase #12: WEC Energy Group (WEC)

Recently, WEC Energy Group made a 7.1% hike in its quarterly dividend per share to $0.835 official. This topped my expectation of $0.8325.

My net annual forward dividends grew by $2.64 across my 12 shares of WEC from this announcement.

Expected Dividend Increases For February 2024

Expected Dividend Increase #1: Albemarle (ALB)

The first dividend increase that I anticipate for next month will be from Albemarle. My best guess is that ALB will declare a 1.3% raise in its quarterly dividend per share to $0.405.

Across my eight shares of ALB, my net annual forward dividends would be lifted by $0.16 if such a declaration plays out.

Expected Dividend Increase #2: Allstate (ALL)

The next payout hike that I predict for February is from Allstate. I anticipate that ALL will announce a 5.6% boost in its quarterly dividend per share to $0.94.

My net annual forward dividends would rise by $1 across my five shares of ALL from such an announcement.

Expected Dividend Increase #3: Brookfield Asset Management (BAM)

The third dividend hike that I forecast for next month will be from Brookfield Asset Management. I believe that BAM will declare a 12.5% lift in its quarterly dividend per share to $0.36.

Across my 30 shares of BAM, my net annual forward dividends would grow by $4.80 if this declaration happens.

Expected Dividend Increase #4: Cisco Systems (CSCO)

The next dividend increase that I'm expecting for February is from Cisco Systems. My best guess is that CSCO will announce a 2.6% bump in its quarterly dividend per share to $0.40.

My net annual forward dividends would be lifted by $0.88 across my 22 shares of CSCO from such an announcement.

Expected Dividend Increase #5: Genuine Parts Company (GPC)

The fifth payout boost that I predict for next month will be from Genuine Parts Company. I anticipate that GPC will declare a 6.3% raise in its quarterly dividend per share to $1.01.

Across my six shares of GPC, my net annual forward dividends would rise by $1.44 if this declaration occurs.

Expected Dividend Increase #6: Home Depot (HD)

The next dividend raise that I'm forecasting for February is from Home Depot. I believe that HD will up its quarterly dividend per share by 5.7% to $2.21.

My net annual forward dividends would grow by $2.40 across my five shares from such an announcement.

Expected Dividend Increase #7: Coca-Cola (KO)

The seventh dividend increase that I anticipate for next month will be from Coca-Cola. My best guess is that KO will declare a 4.3% bump in its quarterly dividend per share to $0.48.

Across my 10 shares of KO, my net annual forward dividends would be lifted by $0.80 if this declaration happens.

Expected Dividend Increase #8: L3Harris Technologies (LHX)

The next dividend raise that I'm predicting for February is from L3Harris Technologies. I anticipate that LHX will up its quarterly dividend per share by 4.4% to $1.19.

My net annual forward dividends would rise by $0.80 across my four shares of LHX from such an announcement.

Expected Dividend Increase #9: NextEra Energy (NEE)

The ninth dividend boost that I forecast for next month will be from NextEra Energy. I believe that NEE will declare a 10.2% hike in its quarterly dividend per share to $0.515.

Across my 13 shares of NEE, my net annual forward dividends would grow by $2.47 if this declaration plays out.

Expected Dividend Increase #10: PepsiCo (PEP)

The next dividend raise that I anticipate for February is from PepsiCo. My best guess it that PEP will announce a 7.9% increase in its quarterly dividend per share to $1.365.

My net annual forward dividends would be lifted by $2.40 across my six shares of PEP from such an announcement.

Expected Dividend Increase #11: Prudential Financial (PRU)

The eleventh dividend increase that I'm predicting for next month will be from Prudential Financial. I anticipate that PRU will declare a 4% raise in its quarterly dividend per share to $1.30.

Across my 10 shares of PRU, my net annual forward dividends would rise by $2 if this declaration occurs.

Expected Dividend Increase #12: Tractor Supply (TSCO)

The final dividend boost that I forecast for February is from Tractor Supply. I believe that TSCO will announce an 8.7% raise in its quarterly dividend per share to $1.12.

My net annual forward dividends would grow by $1.80 across my five shares of TSCO from such an announcement.

Concluding Thoughts:

The 12 dividend raises that I received in January boosted my net annual forward dividends by $18.6516. That would be equivalent to investing $621.72 in fresh capital at a 3% weighted average net dividend yield.

If the dozen raises that I am expecting in February play out as anticipated, my net annual forward dividends would rise by $21.05. Replicating this would require investing $701.67 at a 3% yield.

Discussion:

How was your January 2024 for dividend boosts?

Did you get any first-time payout raises during the month?

Thanks for reading and please feel free to comment below!