August 2024 Dividend Stock Purchases

As I'm writing this blog post on Friday, August 23rd, the temperature here in Central Wisconsin is expected to reach a high of 80 degrees Fahrenheit. That's just about the perfect temperature in my opinion, so I plan on spending plenty of time outside today.

Now that August is nearly complete, I believe today is also a great day to discuss my dividend stock purchase activity for the month. Without further ado, I'll jump into it!

Dividend Stock Purchase #1: Realty Income (O)

My first dividend stock purchase for the month was nine shares of Realty Income at an average price per share of $57.72. That lifted my net annual forward dividends by $28.404, which equates to a 5.47% net dividend yield.

Curious readers can check out my investment thesis on O in my August 2024 Dividend Stock Watch List blog post.

Dividend Stock Purchase #2: Visa (V)

The next dividend growth stock that I added to in August was two shares of Visa at $264.60 a share. This purchase lifted my net annual forward dividends by $4.16, which works out to a net dividend yield of 0.79%.

Interested readers can also find my investment thesis on V in the August 2024 Dividend Stock Watch List linked above.

Dividend Stock Purchase #3: WEC Energy Group (WEC)

My third dividend growth stock purchase was six shares of WEC Energy Group at an average price per share of $88.49. That boosted my net annual forward dividends by $20.04, which is equivalent to a 3.77% net dividend yield. 

My original plan was to purchase shares of American Electric Power (AEP). By the time I was deploying capital, though, AEP's value proposition had mostly dissipated. It was still buyable, but I thought that WEC was the better overall pick for me.

Bonus Stock Purchase: Energy Transfer (ET)

In my Charles Schwab account, I had some dividends lying around that had been accrued in prior weeks. So, I put that to work by purchasing another 16 units of Energy Transfer at $16.27 a unit. This raised my net annual forward distributions by $20.48, which is a net distribution yield of 7.87%.

Readers can peruse my latest Seeking Alpha article on ET for my investment thesis.

Concluding Thoughts:

In August, I deployed $1,839.92 in capital to dividend growth stock purchases. That added $73.084 in net annual forward dividends/distributions to my portfolio. This is a 3.97% weighted average dividend/distribution yield.

My net annual forward dividends also grew by $11.10 from the three dividend raises that I received in August 2024. That pushed my net annual forward dividends/distributions from almost $4,860 at the start of August to around $4,945 going into September.

Discussion:

How was your capital deployment in August 2024?

Did you buy any new positions during the month?

Thanks for reading and please feel free to comment below!