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!
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