Expected Dividend Increases For April 2024

As I'm writing this blog post, it's the ides of March. The temperature is currently 52 degrees Fahrenheit here in Central Wisconsin, with the high temperature expected to edge another 2 degrees higher to 54 later today. Needless to say, that's warm for this time of year.

All of my anticipated dividend hikes for this month have already played out. So, with that being the case, I will reminisce on these raises and how they compared to my expectations. I'll also look ahead to the payout boosts that I'm predicting for April. Let's dig into it!

Actual Dividend Increases For March 2024

Dividend Increase #1: Williams-Sonoma (WSM)

Williams-Sonoma announced a massive 25.6% boost in its quarterly dividend per share to $1.13. This was approximately quadruple the 6.7% raise to $0.96 that I was anticipating.

That's why I'm pleased this is my portfolio's fourth-biggest holding.

Across my 10 shares of WSM, my net annual forward dividends were lifted higher by $9.20 due to this dividend announcement.

Dividend Increase #2: TJX Companies (TJX)

TJX Companies declared a 12.8% hike in its quarterly dividend per share to $0.375, which was ahead of the 11.3% increase to $0.37 that I projected.

My net annual forward dividends surged $1.87 higher from this dividend declaration across my 11 shares of TJX.

Dividend Increase #3: General Dynamics (GD)

General Dynamics announced a 7.6% raise in its quarterly dividend per share to $1.42. Once again, this was better than the 6.1% bump to $1.40 that I predicted.

Across my six shares of GD, my net annual forward dividends grew by $2.40 due to this dividend announcement.

Dividend Increase #4: Realty Income (O)

Realty Income declared a 0.2% increase in its monthly dividend per share to $0.2570, which was in line with my expectations.

My net annual forward dividends rose by $0.234 across my 39 shares of O from this dividend declaration.

Dividend Increase #5: JPMorgan Chase (JPM)

On Mar. 19, JPMorgan Chase announced a 9.5% hike in its quarterly dividend per share to $1.15. This came as a complete surprise to me, but I'll definitely take it!

Across my six shares of JPM, my net annual forward dividends grew by $2.40 due to this dividend announcement.

Dividend Freeze: Dollar General (DG)

Dollar General announced that it was holding its quarterly dividend per share at $0.59. This was less than the 6.8% raise to $0.63 that I was anticipating.

Dividend Cut: American Tower (AMT)

American Tower declared a quarterly dividend per share of $1.62. This represented a 4.7% reduction versus the $1.70 dividend per share declared in the fourth quarter. That was consistent with what the company conveyed in the Q3 2023 Earnings Call, though. AMT will likely declare $6.48 in dividends per share in 2024, which will be marginally higher than the $6.45 declared in 2023.

The expectation remains that strong dividend growth will resume in 2025 after the company has completed desired deleveraging. This is why I will continue to hold, even after a technical dividend cut.

Across my six shares of AMT, my net annual forward dividends declined by $1.92 due to this dividend declaration.

Expected Dividend Increases For April 2024

Expected Dividend Increase #1: FedEx (FDX)

My best guess is that FedEx will announce a 9.5% hike in its quarterly dividend per share to $1.38.

If this played out, my net annual forward dividends would grow by $1.92 across my four shares of FDX from such an announcement.

Expected Dividend Increase #2: Tanger Inc. (SKT)

I believe Tanger Inc. will declare a 5.8% raise in its quarterly dividend per share to $0.275.

Across my 11 shares, such a declaration would result in a $0.66 increase in my net annual forward dividends.

Expected Dividend Increase #3: American Water Works (AWK)

My prediction is that American Water Works will announce an 8.1% hike in the quarterly dividend per share to $0.765.

My net annual forward dividends would rise by $0.92 across my four shares of AWK from such an announcement.

Expected Dividend Increase #4: RTX Corp (RTX)

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

Across my 12 shares of RTX, my net annual forward dividends would grow by $1.92 due to such a declaration.

Expected Dividend Increase #5: Johnson & Johnson (JNJ)

I believe Johnson & Johnson will announce a 5.9% raise in its quarterly dividend per share to $1.26.

My net annual forward dividends would be lifted by $1.40 from such an announcement across my six shares of JNJ.

Expected Dividend Increase #6: Southern Company (SO)

My prediction is that Southern Company will declare a 2.9% increase in its quarterly dividend per share to $0.72.

Across my five shares of SO, my net annual forward dividends would edge $0.40 higher due to such a declaration.

Expected Distribution Increase #7: Energy Transfer (ET)

I anticipate that Energy Transfer will announce a 0.8% bump in its quarterly distribution per unit to $0.3175.

My net annual forward distributions would rise by $0.86 across my 86 units of ET from such an announcement.

Expected Dividend Increase #8: International Business Machines (IBM)

My best guess is that International Business Machines will declare a 0.6% increase in its quarterly dividend per share to $1.67.

Across my six shares of IBM, my net annual forward dividends would grow by $0.24 due to such a declaration.

Concluding Thoughts:

My net annual forward dividends have increased by $14.184 from the five dividend raises and the one dividend cut that were announced during the month. This equates to investing $472.80 in capital at a 3% net dividend yield.

If the eight dividend boosts that I'm anticipating come to pass in April, my net annual forward dividends could be lifted by $8.32. That would be like investing $277.33 in capital at a 3% dividend yield.

Discussion:

How did you fare with dividend announcements in March 2024?

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

Thanks for your readership and please leave your comments below!