Expected Dividend Increases For October 2024

As I’m writing this blog post, it is currently Thursday, September 19th. The weather here in Central Wisconsin is going to be ideal for this weekend, with the high temperatures in the low 80 degrees Fahrenheit range. So, I plan on going outside for at least a few hours this weekend.

Now that I have received all but one of the raises that I am expecting for the month, I’ll go over those in this post. I’ll also look ahead to the dividend raises that I’m anticipating for next month.

Actual Dividend Increases For September 2024

Dividend Increase #1: Broadcom (AVGO)

Broadcom announced a 1% increase in its quarterly dividend per share to $0.53. This was due to the 10:1 stock split completed in July and aimed at keeping the dividend at an non-fractional cent amount.

Across my 40 shares of AVGO, my net annual forward dividends grew by $0.80 due to this dividend announcement.

Dividend Increase #2: JPMorgan Chase (JPM)

JPMorgan Chase made its 8.7% increase in its quarterly dividend per share to $1.25 official during the month.

My net annual forward dividends rose by $2.40 across my six shares of JPM because of this dividend declaration.

Dividend Increase #3: Microsoft (MSFT)

Microsoft announced a 10.7% raise in its quarterly dividend per share to $0.83 in September. This was in line with my prediction in this series’ previous blog post.

Across my five shares of MSFT, my net annual forward dividends climbed by $1.60 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 $0.2635. That was also precisely what I anticipated.

My net annual forward dividends edged $0.288 higher across my 48 shares of O because of this dividend declaration.

Dividend Increase #5: Philip Morris International (PM)

Philip Morris International announced a 3.8% raise in its quarterly dividend per share to $1.35. This was $0.01 more than I expected.

Across my 27 shares of PM, my net annual forward dividends increased by $5.40 due to this dividend announcement.

Dividend Increase #6: VICI Properties (VICI)

VICI Properties declared a 4.2% increase in its quarterly dividend per share to $0.4325. This came in below my expectation of $0.44.

My net annual forward dividends climbed by $4.76 across my 68 shares of VICI because of this dividend declaration.

Dividend Increase #7: Verizon Communications (VZ)

Verizon Communications announced a 1.9% raise in its quarterly dividend per share to $0.6775, which was what I predicted.

Across my 45 shares of VZ, my net annual forward dividends increased by $2.25 due to this dividend announcement.

Dividend Increase #8: Texas Instruments (TXN)

Texas Instruments upped its quarterly dividend per share by 4.6% to $1.36. Across my 12 shares of TXN, my net annual forward dividends rose by $2.88.

Dividend Increase #9: McDonald's (MCD)

McDonald's was a bit early with its dividend hike this year. The company matched my expectations of a 6% raise in its quarterly dividend per share to $1.77. My net annual forward dividends grew by $2 across my five shares of MCD from this dividend announcement.

Expected Dividend Increases For October 2024

Expected Dividend Increase #1: AbbVie (ABBV)

The first dividend raise that I’m expecting in October will be from AbbVie. My best guess is that a 5.8% increase in the quarterly dividend to $1.64 will be announced.

Across my 14 shares of ABBV, my net annual forward dividends would climb by $5.04 from such an announcement.

Expected Dividend Increase #2: American Electric Power (AEP)

The next dividend increase that I’m projecting for next month will come from American Electric Power. I believe that AEP will declare a 5.7% increase in its quarterly dividend per share to $0.93.

My net annual forward dividends would rise by $3 due to such a declaration across my 15 shares of AEP.

Expected Dividend Increase #3: A.O. Smith (AOS)

The third dividend raise that I’m anticipating in October will be from A.O. Smith. My guess is that AOS will announce a 7.8% increase in its quarterly dividend per share to $0.345.

Across my 12 shares of AOS, my net annual forward dividends would edge higher by $1.20 from such an announcement.

Expected Dividend Increase #4: Energy Transfer (ET)

The next distribution increase that I’m expecting for next month will come from Energy Transfer. I believe that ET will declare a 0.8% bump in its quarterly distribution per unit to $0.3225.

My net annual forward distributions would rise by $1.02 across my 102 units of ET due to such a distribution declaration.

Expected Dividend Increase #5: Lockheed Martin (LMT)

The fifth dividend raise that I’m projecting in October will be from Lockheed Martin. My best guess is that LMT will announce a 6.3% increase in its quarterly payout per share to $3.35.

Across my four shares of LMT, my net annual forward dividends would climb by $3.20 from such an announcement.

Expected Dividend Increase #6: MPLX LP (MPLX)

The next distribution raise that I’m anticipating in October will be from MPLX LP. My guess is that MPLX will announce a 5.9% hike in its quarterly distribution per unit to $0.90.

Across my 32 units of MPLX, my net annual forward distributions would grow by $6.40 from such an announcement.

Expected Dividend Increase #7: Pinnacle West Capital (PNW)

The seventh dividend increase that I’m projecting for next month will come from Pinnacle West Capital. I believe that PNW will declare a 1.9% bump in its quarterly dividend per share to $0.90.

My net annual forward dividends would increase by $0.56 across my seven shares due to such a dividend declaration.

Expected Dividend Increase #8: Visa (V)

The next dividend boost that I’m predicting in October will be from Visa. My best guess is that V will announce a 13.5% hike in its quarterly dividend per share to $0.59.

Across my nine shares of V, my net annual forward dividends would rise by $2.52 from such an announcement.

Expected Dividend Increase #9: Exxon Mobil (XOM)

The ninth and final dividend increase that I’m anticipating for next month will come from Exxon Mobil. I believe that XOM will declare a 5.3% raise in its quarterly dividend per share to $1.

My net annual forward dividends would grow by $2.20 across my 11 shares of XOM due to such a declaration.

Pending Dividend Increase: Starbucks (SBUX)

Starbucks has yet to deliver its dividend boost. But I’m standing by my projection that a 7% increase in the quarterly dividend per share to $0.61 will be declared before the month is up.

My net annual forward dividends would rise by $3.68 across my 23 shares of SBUX with such a dividend declaration.

Concluding Thoughts:

I received an additional $22.378 in net annual forward dividends from nine companies in September. This is like investing $745.93 in capital at a 3% dividend yield.

If the 10 raises that I’m projecting for next month materialize, my net annual forward dividends would increase by $28.82. That would be equivalent to investing $960.67 in fresh capital at a 3% net yield.

Discussion:

How were your dividend/distribution raises in September?

Did you receive any first-time raises?

As always, I appreciate your readership. Please feel free to leave your comments below!