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!
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