Expected Dividend Increases For July 2024

As I'm writing this blog post, it is currently Friday, June 14. The temperature here in Central Wisconsin is expected to reach into the high-70 degrees Fahrenheit range this weekend. So, I definitely plan on getting outside and soaking in the sun a bit.

Today, I'll be going over the dividend raises that I have received for the month of June so far. I'll update this post as the anticipated raise from General Mills is announced later this month. Otherwise, I am also going to be looking ahead to the payout boosts that I'm expecting for July 2024.

Actual Dividend Increases For June 2024

Dividend Increase #1: UnitedHealth Group (UNH)

UnitedHealth Group announced an 11.7% hike in its quarterly dividend per share to $2.10. This was just below my expectation in this series' previous blog post of a 13.3% lift to $2.13. UNH has been such an outstanding dividend grower for so long that my expectations were just a bit high. I'll take a nearly 12% pay raise any day of the week for sure, though.

Across my five shares of UNH, my net annual forward dividends surged higher by $4.40 from this dividend announcement.

Dividend Increase #2: FedEx (FDX)

FedEx declared a 9.6% raise in its quarterly dividend per share to $1.38, which was what I anticipated.

My net annual forward dividends rose by $1.92 across my four shares of FDX due to this dividend declaration.

Dividend Increase #3: Realty Income (O)

Realty Income announced a 0.2% bump in it monthly dividend per share to $0.2630. This was what I expected.

Across my 39 shares of O, my net annual forward dividends grew by $0.234 from this dividend announcement.

Dividend Increase #4: Williams-Sonoma (WSM)

Williams-Sonoma declared a 0.9% increase in its quarterly dividend per share to $1.14. Having just raised its dividend back in March, this was an otherwise unusually timed announcement.

However, it was probably because the company just announced a 2:1 stock split. My guess is that the Board of Directors didn't want the quarterly dividend per share to be an odd amount (e.g., $0.565 per share).

My net annual forward dividends increased by $0.40 across my 10 shares of WSM due to this declaration.

Dividend Increase #5: Innovative Industrial Properties (IIPR)

Innovative Industrial Properties announced a 4.4% raise in its quarterly dividend per share to $1.90. 

Across my six shares of IIPR, my net annual forward dividends rose by $1.92 from this announcement.

Pending Dividend Increase

Pending Dividend Increase #1: General Mills (GIS)

General Mills hasn't yet upped its payout. When the company reports its fiscal fourth quarter results on June 26, I expect this to change. I'm reiterating my prediction for a 9.3% boost in the quarterly dividend per share to $0.59.

My net annual forward dividends would rise by $0.80 across my four shares if this dividend declaration plays out as projected.

Update:

GIS declared a 1.7% raise in its quarterly dividend per share to $0.60. My net annual forward dividends grew by $0.16 across my four share of GIS due to this dividend declaration.

Expected Dividend Increases For July 2024

Expected Dividend Increase #1: Cummins (CMI)

The first dividend raise that I'm expecting in July will come from Cummins. My best guess is that CMI will announce a 7.1% raise in its quarterly dividend per share to $1.80.

Across my five shares of CMI, my net annual forward dividends would rise by $2.40 from such an announcement.

Expected Dividend Increase #2: Duke Energy (DUK)

The next dividend increase that I'm anticipating for next month is from Duke Energy. I believe that DUK will declare a 2% raise in its quarterly dividend per share to $1.045.

My net annual forward dividends would rise by $0.48 across my six shares of DUK due to such a declaration.

Expected Dividend Increase #3: Enterprise Products Partners (EPD)

The third dividend/distribution raise that I'm predicting in July will come from Enterprise Products Partners. I project that EPD will announce a 2.9% bump in its quarterly distribution per unit to $0.53.

Across my 75 units of EPD, that would equate to a $4.50 boost in my net annual forward dividends/distributions from such an announcement.

Expected Dividend Increase #4: Energy Transfer (ET)

The next distribution increase that I'm expecting for next month is from Energy Transfer. My best guess is that ET will declare a 0.8% raise in its quarterly distribution per unit to $0.32.

My net annual forward distributions would grow by $0.86 across my 86 units of ET due to such a declaration.

Expected Dividend Increase #5: NNN REIT (NNN)

The fifth dividend bump that I'm anticipating in July will come from NNN REIT. I believe that NNN will announce a 2.7% increase in its quarterly dividend per share to $0.58.

Across my 18 shares of NNN, my net annual forward dividends would rise by $1.08 from such an announcement.

Expected Dividend Increase #6: J.M. Smucker (SJM)

The final dividend increase that I'm predicting for next month is from J.M. Smucker. I project that SJM will declare a 3.8% raise in its quarterly dividend per share to $1.10.

My net annual forward dividends would edge higher by $0.36 across my three shares of SJM due to such a declaration.

Concluding Thoughts:

I have received three of the four raises that I anticipated for June and two bonuses from WSM and IIPR. If the raise from GIS is what I expect, my net annual forward dividends would grow by $9.034 for the month. This would be like investing $301.13 at a weighted-average dividend yield of 3%.

For July 2024, my net annual forward dividends could rise by $9.68 if the six forecasted raises play out. That would be equivalent to investing $322.67 at a 3% yield.

Discussion:

How has your June 2024 been for dividend raises thus far?

Did you receive any first-time hikes this month?

Thank you for your readership and I look forward to your comments below!