October 2024 Stock Purchases

As I'm writing this blog post on Friday, October 25th, it's expected to reach a high of 62 degrees Fahrenheit later today. If that wasn't enough, it's also going to be sunny throughout the day. For late-October, this is excellent weather for Central Wisconsin. Not surprisingly, that's why I plan on getting outside for at least an hour or two today.

Now that we're in the last week of October, I'm probably done buying stocks for the month. So, that makes today the perfect time to highlight my stock purchases for October 2024.

Stock Purchase #1: Amazon (AMZN)

The first stock purchase that I executed in October was three shares of Amazon at an average cost per share of $184.53. Curious readers can check out my basic investment thesis for AMZN in my October 2024 Stock Watch List post.

Stock Purchase #2: Enterprise Products Partners (EPD)

My second stock purchase completed during the month was 34 units of Enterprise Products Partners at an average price of $29.27 a unit. This boosted my net annual forward distributions by $71.40, which equates to a 7.18% distribution yield.

Readers can peruse my investment thesis for EPD in the October 2024 Stock Watch List post linked above.

Stock Purchase #3: Visa (V)

The next stock purchase that I carried out in October was two shares of Visa at $277.47 apiece. That transaction increased my net annual forward dividends by $4.16, which works out to a 0.75% net dividend yield.

Again, interested readers can find my investment thesis for V in my October 2024 Stock Watch List post.

Bonus Stock Purchase: Enbridge (ENB)

I had some dividend payments that accumulated in my IRA. So, I put those funds to work and purchased two shares of Enbridge at an average cost per share of $40.61. This lifted my net annual forward dividends by $5.36, which is equivalent to a 6.6% dividend yield.

Readers can examine my investment thesis for ENB in my September 2024 Dividend Stock Watch List post.

Concluding Thoughts:

In October, I deployed $2,184.75 in capital. These buys helped my net annual forward dividends jump by $80.92, which is a 3.70% weighted average net dividend yield.

My net annual forward dividends also rose by $34.092 from the 10 dividend increases that I received during the month. This pushed my net annual forward dividends from around $5,040 going into the month to over $5,155 exiting the month.

Discussion:

How was your capital deployment in October 2024?

Did you start any new positions during the month?

I appreciate your readership and welcome your comments below!

Expected Dividend Increases For November 2024

As I'm writing this blog post on Friday, October 18th, the weather remains decent here in Central Wisconsin. The high temperature is expected to reach 67 degrees Fahrenheit today.

Now that the end of the month is drawing near, it would appropriate to highlight the dividend raises that I have received in October. I'll also reiterate the raises that I still expect but haven't yet received and update those as they are announced. Finally, I'll look ahead to the dividend boosts that I'm expecting for next month.

Actual Dividend Increases For October 2024

Dividend Increase #1: Agree Realty (ADC)

Agree Realty announced a 1.2% increase in its monthly dividend per share to $0.253. Across my 20 shares of ADC, my net annual forward dividends rose by $0.72 from this announcement.

Dividend Increase #2: Lockheed Martin (LMT)

Lockheed Martin announced a 4.8% increase in its quarterly dividend per share to $3.30. This was less than the 6.3% raise to $3.35 that I was anticipating.

Across my four shares of LMT, my net annual forward dividends rose by $2.40 from this announcement.

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

A.O. Smith announced a 6.3% raise in its quarterly dividend per share to $0.34. This was just below my expectation of a 7.8% increase to $0.345 in this series' previous blog post.

My net annual forward dividends grew by $0.96 across my 12 shares of AOS from this announcement.

Pending Dividend Increase #1: AbbVie (ABBV)

AbbVie has yet to announce its dividend increase. However, I'm reiterating my expectation of a 5.8% increase in the quarterly dividend to $1.64.

UPDATE: ABBV announced a 5.8% raise in its quarterly dividend per share to $1.64. Across my 14 shares, my net annual forward dividends rose by $5.04.

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

American Electric Power hasn't declared its next dividend, either. I'm standing by my prediction of a 5.7% raise in the quarterly dividend per share to $0.93, though.

UPDATE: As predicted, AEP upped its quarterly dividend per share by 5.7% to $0.93. My net annual forward dividends rose by $3 across my 15 shares of AEP from this declaration.

Pending Dividend Increase #3: Energy Transfer (ET)

Energy Transfer has yet to announce its distribution increase. I still believe ET will up the quarterly distribution per unit by 0.8% to $0.3225.

UPDATE: As projected, ET increased its quarterly distribution per unit by 0.8% to $0.3225. Across my 102 units of ET, my net annual forward distributions rose by $1.02 from this announcement.

Pending Dividend Increase #4: MPLX LP (MPLX)

MPLX LP hasn't declared its next distribution raise. However, I'm affirming my projection of a 5.9% increase in the quarterly distribution per unit to $0.90.

UPDATE: MPLX boosted its quarterly distribution per unit by 12.5% to $0.9565, crushing my expectations. My net annual forward distributions soared by $13.632 due to this declaration.

Pending Dividend Increase #5: Pinnacle West Capital (PNW)

Pinnacle West Capital has yet to announce its dividend increase. I'm standing by my prediction of a 1.7% raise in the quarterly dividend per share to $0.90.

UPDATE: As expected, PNW upped its quarterly dividend be share by 1.7% to $0.90. Across my seven shares, this lifted my net annual forward dividends by $0.56.

Pending Dividend Increase #6: Starbucks (SBUX)

Starbucks hasn't declared its next dividend increase yet, but I'm still expecting a 7% raise in the quarterly dividend per share to $0.61.

UPDATE: SBUX declared a 7% raise in its quarterly dividend per share to $0.61. Across my 23 shares, this increased my net annual forward dividends by $3.68.

Pending Dividend Increase #7: Visa (V)

Visa has yet to announce its dividend boost. However, I believe that the quarterly dividend per share will be upped by 13.5% to $0.59.

UPDATE: As anticipated, V upped its quarterly dividend per share by 13.5% to $0.59. My net annual forward dividends rose by $3.08 as a result.

Pending Dividend Increase #8: Exxon Mobil (XOM)

Exxon Mobil hasn't declared its next dividend increase. I'm still projecting a 5.3% raise in the quarterly dividend per share to $1, though.

UPDATE: XOM announced a 4.2% increase in its quarterly dividend per share to $0.99. Across my 11 shares, my net annual forward dividends rose by $1.76.

Expected Dividend Increases For November 2024

Expected Dividend Increase #1: Automatic Data Processing (ADP)

The first dividend increase that I'm predicting in November will be from Automatic Data Processing. I believe that ADP will announce a 10.7% boost in its quarterly dividend per share to $1.55.

Across my 11 shares, my net annual forward dividends would surge higher by $6.60 from such an announcement.

Expected Dividend Increase #2: Aflac (AFL)

The next dividend raise that I'm expecting for next month will come from Aflac. My best guess is that AFL will declare a 6% increase in its quarterly dividend per share to $0.53.

If such a declaration plays out as expected, my net annual forward dividends would increase by $1.32 across my 11 shares of AFL.

Expected Dividend Increase #3: Enbridge (ENB)

The third dividend increase that I'm projecting in November will be from Enbridge. I anticipate that ENB will announce a 3% increase in its quarterly dividend per share (in USD) to $0.69.

Across my 58 shares of ENB, my net annual forward dividends would rise by $4.64 from such an announcement.

Expected Dividend Increase #4: Main Street Capital (MAIN)

The next dividend raise that I'm predicting for next month will come from Main Street Capital. I believe that MAIN will declare a 2% increase in its monthly dividend per share to $0.25.

My net annual forward dividends would increase by $1.80 across my 30 shares due to such a declaration.

Expected Dividend Increase #5: Merck (MRK)

The fifth dividend raise that I'm expecting in November will be from Merck. My best guess is that MRK will announce a 5.1% increase in its quarterly dividend per share to $0.81.

Across my 11 shares of MRK, my net annual forward dividends would rise by $1.76 from such an announcement.

Expected Dividend Increase #6: Simon Property Group (SPG)

The final dividend increase that I'm projecting for next month will come from Simon Property Group. I anticipate that SPG will declare a 2.4% bump in its quarterly dividend per share to $2.10.

My net annual forward dividends per share would grow by $1.80 across my nine shares of SPG due to such a declaration.

Concluding Thoughts:

I received $34.092 of dividend increases from 10 companies in October. This is equivalent to investing $1,136.40 at a 3% dividend yield.

If the seven raises that I'm expecting for next month go as expected, my net annual forward dividends would increase by $19.68. This is like investing $656.00 at a weighted average net yield of 3%.

Discussion:

How was your dividend raise activity in October?

Did you receive any first-time payout raises like I did from MPLX?

Thanks for reading and please feel free to comment below!

November 2024 Dividend Stock Watch List

As I’m writing this blog post, it is Friday, October 11^th. The high temperature is expected reach 74 degrees Fahrenheit in Central Wisconsin. Add in a partly sunny forecast and the weather is perfect for this time of the year.

Now that less than three weeks remain in the month, I’ll be looking ahead to dividend stocks on my watch list for November 2024. Let’s dive into it!

Dividend Stock #1: Energy Transfer (ET)

The first stock on my watch list for November 2024 is Energy Transfer (ET). Those interested in the investment thesis in detail can refer to my August Seeking Alpha article.

In a nutshell, ET set several new partnership records in its second quarter. The partnership’s credit rating was upgraded to Baa2 (BBB equivalent) by Moody’s in June. The 7.8% distribution yield is also well-covered by DCF. Finally, ET’s $16 unit price (as of October 11^th, 2024) remains well under my fair value estimate of approximately $19 a unit.

Dividend Stock #2: Alphabet (GOOGL)

The next stock on my watch list for next month is Alphabet (GOOGL). Astute readers will notice that I just highlighted the stock in my September 2024 Dividend Stock Watch List.

Well, my buying rationale is about the same as it was at that time. Since that time, I published a September Seeking Alpha article. YouTube Shorts monetization is improving, and Google Cloud remains a go-to option for both startups and established businesses. GOOGL’s nearly $100 billion net cash position and AA+ credit rating from S&P on a stable outlook are also pluses. The recently initiated dividend is modest and has tons of room for future growth. The icing on the cake is that GOOGL is deeply undervalued from the current $165 share price (as of October 11^th, 2024), with my October fair value estimate approaching $210 a share.

Dividend Stock #3: PepsiCo (PEP)

The third stock on my watch list for November 2024 is PepsiCo (PEP). My investment thesis for the consumer staple remains unchanged from my May Seeking Alpha article.

PEP operates as a leader in a fragmented, trillion-plus dollar global beverage and convenient food category. The company also enjoys an A+ credit rating from S&P on a stable outlook. Fair value is also edging closer to $200 a share, which would represent a moderate discount versus the current $174 share price (as of October 11^th, 2024).

Concluding Thoughts:

So, that is that for this blog post in my monthly stock watch list series. Three more world-class stocks on my radar for additional investment. These are the kinds of investment holdings that allow me to sleep well at night and stand by the dividend growth investing strategy. This has served me well over the past seven years and I especially look forward to the next seven years of living by the strategy.

Discussion:

Are any of ET, GOOGL, and/or PEP on your watch list for November 2024?

If not, what stocks are on your radar for next month?

Thanks for reading. I look forward to your comments below!

September 2024 Dividend Income

As I'm writing this blog post, it's Friday, October 4th. The high temperature is going to reach into the upper 60 degrees Fahrenheit range later today. Unsurprisingly, I'm planning on getting outside for a while today to enjoy what's left of the ideal weather.

Now that September is over, I'm going to be taking a moment today to review my net dividend income for the month. Without further ado, let's dig into it.

Dividend Income Approached $550 For The Month

In September 2024, I collected $543.81 in net dividends (including ADR fees for BP and withholdings on BAM dividends). Against the $520.75 in net dividends received in June 2024, this is equivalent to a 4.4% quarterly growth rate.

Compared to the $434.85 in net dividends collected in September 2023, that equates to a 25.1% year-over-year growth rate.

My net dividends received in my Charles Schwab portfolio were $364.41 from 48 companies. This was marginally lower because of my sale of Dominion Energy (D) in July 2024 and partially offset by my purchase of Meta Platforms (META) during the month.

In my retirement account sponsored by my former employer, I collected $87.11 in net dividends from my Capital Income Builder (CAIBX) holding. This increased slightly because of a higher share count from dividend reinvestment.

My net dividends received from my Fidelity portfolio was $74.80 from 13 companies. Dividend stock purchases in June 2024, July, and August 2024 accounted for this uptick in net dividends.

In my Webull account, I collected $17.49 in net dividends from six companies. Payout raises contributed to a modest increase in net dividends.

Concluding Thoughts:

As I indicated in my June 2024 Dividend Income blog post, my capital deployment in recent months is putting me on a realistic path to receive at least $600 in net dividends for December 2024.

Discussion:

How was your net dividend income for September 2024?

Did you collect any first-time dividends during the month as I did with META?

I appreciate your readership and welcome your comments below!

September 2024 Dividend Stock Purchases

As I’m writing this blog post, it is currently Thursday, September 26^th. The weekend is going to see highs in the mid 70 degrees Fahrenheit. So, we’re seeing a cooling trend here in Central Wisconsin. That’s decent weather for this time of the year, though.

Since the month of September is just about complete, I’ll be detailing my dividend stock purchases for the month. Without further ado, let’s dig into it.

Dividend Stock Purchase #1: Enbridge (ENB)

The first dividend stock purchase that I made during the month was 25 shares of Enbridge at an average price of $40.57 a share. This boosted my net annual forward dividends by $67, which is equivalent to a 6.61% net dividend yield.

Interested readers can find the gist of my investment thesis in my September 2024 Dividend Stock Watch List blog post.

Dividend Stock Purchase #2: Alphabet (GOOGL)

My next dividend stock purchase completed in September was four shares of Alphabet at an average cost per share of $153.84. That increased my portfolio’s net annual forward dividends by $3.20, which works out to a 0.52% net dividend yield.

Curious readers can peruse the September 2024 Dividend Stock Watch List blog post linked above for my investment thesis.

Dividend Stock Purchase #3: Meta Platforms (META)

The third and final dividend stock purchase that I executed for the month was a share of Meta Platforms at $506.11. As a result, my net annual forward dividends edged $2 higher. This equates to a net dividend yield of 0.40%.

Intrigued readers can also uncover my investment thesis in the September 2024 Dividend Stock Watch List blog post.

Concluding Thoughts:

In September, I put $2,135.70 in capital to work. Against the $72.20 in net annual forward dividends added from these buys, this is a weighted average net dividend yield of 3.38%.

My net annual forward dividends also increased by $22.378 from the nine dividend increases that I received in September 2024. This helped my net annual forward dividends rise from about $4,945 heading into the month to approximately $5,040 going into October.

Discussion:

How was your capital deployment during the month?

Did you open any new positions/close any positions in September 2024?

Thank you for reading and please leave your comments below!