November turned out to be a banner month for my dividend Portfolio.  The stock market rallied and the dividends rolled in as well.

I’m looking forward to getting the final numbers for 2022 next month, but before we can get there let’s put November in the books with this dividend income report.  Here’s a preview of what’s to come…

I recorded my best mid-quarter month ever this November.  I easily crossed the $1K threshold, but how high did the income go?  You’ll know shortly.

I also blew past my monthly 15% Year-over-Year (YoY) dividend growth target in November.  In fact, it was my 3rd best monthly performance in 2022.  I share the actual percentage just below.

Forward dividend income generated from my reinvested dividends was excellent for November as well.  It was another mid-quarter, best-ever total.  Stick around to discover the amount.

November provided solid, but not stellar, dividend raises for my Portfolio.  My quantity of raises ticked up, allowing me to notch a triple-digit forward dividend income boost from the raises.  I always like that… I can’t wait to have a year where every month dividend raises increase my forward dividend income by at least $100.

Transaction activity also ticked up compared to last month.  I made 9 moves in November, comprised of 2 sales and 7 buys.  These were spread out over the course of the month.  In total they added double-digit forward dividend income to my Portfolio.  The final total is upcoming.

For yet another month, I posted significant forward dividend income contributions from all 3 of my sources (reinvested dividends, dividend raises, and investment of capital).  Did I crack $200 in new forward dividend income in November when adding up all the contributions?  We’ll find out soon.

It was hard to not be excited by all the various dividend results in November.  The progress allowed me to stay within striking distance of some goals I have for 2022.  It should be an exciting finish to the year!

Let’s check out all the details, beginning with my November dividend income…

 

Dividend Income

 

In 2021, I just exceeded $1K in dividends for the month of November.  This year, I cruised past that number, collecting a total of $1,220.25 in dividends.

YoY dividend growth finished at a terrific 20.27% due to exceeding the $1,014.59 that I was paid in November of 2021.  That kind of YoY growth puts a smile on face.

A total of 17 companies paid me a dividend in November.  These mid-quarter months usually have my smallest number of dividend payers.  However, four of my payers provided a triple-digit dividend, and of course I love that.

My dividend payers were led by AbbVie (ABBV) which sent me a personal record amount of $190.58.  This is getting rather close to my first regular dividend exceeding $200.  This should arrive next quarter given the recent dividend raise from ABBV.  Procter & Gamble (PG), Lowe’s Companies (LOW) and Fastenal (FAST) also topped the $100 dividend threshold.

My smallest dividend was the $20.97 that came from Realty Income (O).  Considering this is a monthly dividend, one could argue that Hormel Foods (HRL) provided my smallest quarterly dividend with the $30.24 it deposited into my Portfolio.

The increased dividend amounts from Starbucks (SBUX), Caterpillar (CAT), Bristol-Myers Squibb (BMY) and National Retail Properties (NNN) were each helped by one or more purchases over the past year.

Increased YoY amounts for all other companies were a result of dividend increases and reinvested dividends over the past year.  I added over $25 in YoY dividend gains from LOW, more than $23 from Nexstar Media Group (NXST), over $21 from ABBV, north of $11 from FAST, in excess of $8 from PG and over $7 from CVS Health (CVS).

For the 2nd month in a row, there were no stocks with a payout reduction compared to the same month a year ago.  This is certainly a factor in the strong YoY dividend growth number I posted in November.

There was only a single new dividend payer this November.  It was Verizon Communications (VZ) and the stock provided a $46.49 dividend.  The big yield VZ has helped with its strong debut in my dividend payers list.

As for stocks no longer paying me a dividend in November, I had one of those as well… Omega Healthcare Investors (OHI).  I sold out of OHI back in late March due to its minimal capital appreciation, deteriorating dividend growth, and its declining dividend safety.  The absence of $30.74 hurts, but I was able to overcome it.

As usual, all my dividends got automatically reinvested into the stocks that paid them.  The additional forward dividend income boost that resulted from the reinvestment was $36.13.  This was my best-ever total in a mid-quarter month.  ABBV was the biggest contributor to this total with $7, with PG and VZ each adding another $3 of additional forward dividend income.

As a result of November’s reinvested dividends, I purchased over 12 new shares of stock.  This included nearly 2 shares of FAST, and more than 1 share of both ABBV and VZ.

 

Dividend Raises

A fairly steady stream of dividend raises were announced for stocks in my Portfolio in November.

The final tally was 7 dividend raises, which is two more than I had last month.  Raises continue to fall short of the percentages offered in 2021, but I can understand that due to the operating environment in 2022.

The majority of my November dividend raises were in 5% range, but a couple of them did reach double-digit territory… always a bonus!

My first raise of the month came from Main Street Capital (MAIN), which boosted their dividend by 2.27%.  This was actually the 2nd raise for MAIN in 2022.  The 1st one came last quarter in August when the company provided a 2.33% hike.  The two raises thus far have resulted in an overall boost of 4.65% for 2022.

After back-to-back years of 20%+ raises from Aflac (AFL), this year’s dividend raise percentage came back to Earth.  AFL delivered a 5.00% raise this time around, which still led to a nice $26.06 increase in my forward dividend income given AFL is one of my largest dividend payers.

Taking the cake for my best dividend raise of the month was Automatic Data Processing (ADP).  The company provided an early Christmas gift when it announced a 20.19% dividend raise.  This was a significant boost compared to last year’s 11.83% raise, not to mention the 2.20% raise in 2020.  My forward dividend income increased by $44.33 thanks to this raise… my biggest $ increase of the month as well.

My next raise was also of the double-digit variety.  Nike (NKE) announced an 11.48% raise.  This was a tad better than last year’s 10.91% boost, and a bit less than the 12.24% raise from two years ago.  Consistent double-digit raises from NKE… I love it!  My forward dividend income rose by $18.65 with the raise.

I finished out the month with a string of 3 dividend raises in the 5%-6% range…

Things started with a 5.77% raise from Hormel Foods (HRL).  This was a tad lighter than the 6.12% hike received last year, but better than the 5.38% raise in 2020.  Historically, HRL has been better than 5%-6% raises, but times have been tougher than normal for HRL the past few years.  I gained $7.02 in forward dividend income from this year’s HRL raise.

Late in the month Merck & Co. (MRK) announced a 5.80% raise.  This hike fell a little short of the 6.15% raise from last year, but still provided $19.21 in forward dividend income.

Lastly, it was a 5.41% dividend raise from McCormick & Co. (MKC) that completed my raises for the month.  This raise percentage is well shy of the roughly 7%-11% boosts that MKC has provided over the past decade plus.  This was my first raise from MKC since I established a position in the stock.  Due to my small MKC position, the raise only increased my forward dividend income by $2.01.

 

 

Adding up the dividend raises from November, my forward dividend income increased by $126.76.  Considering the much lower-than-expected 5% raise from AFL (one of my largest dividend payers), I was thrilled to record a triple-digit month from dividend raises.  ADP helped offset some of the AFL disappointment with a tremendous dividend hike.

I’d have to invest $4,801.52 at my Portfolio’s yield of 2.64% in order to receive the same boost to my forward dividend income as this month’s raises.

Looking ahead to December, I’m anticipating 6 raise announcements.  This includes raises from Eastman Chemical (EMN), Amgen (AMGN), CVS, Broadcom (AVGO), BMY, and a small hike from O.  All but O hiked their dividend at least 10% last year.  I definitely don’t expect that this year, but maybe one or more of them will surprise me.

 

Dividends Due To New Investment

I remained active in making Portfolio moves in November.  I recorded one more trade than last month, which had above average activity as well.

There were a total of 9 moves involving 7 different stocks…  I doubled up on buys of Microsoft (MSFT) and Medtronic (MDT).

The trades were comprised of 2 sales and 7 purchases.  This closely resembles my activity from October.

With the two sales, one stock, STORE Capital (STOR), ended up exiting my Portfolio.  There were no new additions to my Portfolio with the seven buys, as all were existing Portfolio positions.

Details for all these transactions can be found in the following 4 posts…

 

Recent Buy – MSFT

Recent Transactions – STOR, CMCSA, MDT, BBY

Recent Transactions – NNN & VZ

Recent Buy – MDT

 

The two sales and seven purchases resulted in a net investment of $1,430.16.  My forward dividend income rose by $57.57.

With my STOR and NNN sales, I realized a short-term capital gain of $179.16 and a long-term capital gain of $16.65, respectively.

Since I removed one stock from my Portfolio in all the transactions, the number of stocks in my Portfolio dropped to 58.

 

Tallying Up The Additional Forward Dividend Income

In 2022, I continue tracking my additional forward dividend income generated each month from the trifecta of sources: reinvested dividends, dividend raises, and new capital investment.

I show 2021 totals as well, so that we can compare as the year progresses.

 

 

In November, I accumulated another $220.46 of additional forward dividend income.  While this didn’t exceed the $258.96 from November 2021, it still eclipsed the $200 plateau.

I’m back to recording $200+ totals and hope to do so again in December & January.

All 3 sources provided solid contributions to my total, but Dividend Raises led the way once again, easily beating the combined total from Reinvested Dividends and Investment of Capital.

I’m excited to see that Dividend Raises crossed the $1K level for 2022.  With one month to go in 2022, I’d like to see if I can beat the $1,203.26 that I got from Dividend Raises in 2021.  It’s probably less than 50/50 that I make it given raises are coming in shy of what I received in 2021, but I have a chance!

I’m also hoping to eclipse my annual total of $2,224.04 from 2021.  I’d need a December with an additional forward dividend income total of $279.69 or better to do it.  This seems like a tall order, but perhaps I can make it with some heavy capital investment.

One source where I won’t need a late push to do better than last year’s additional forward dividend income total is in Reinvested Dividends.  I’ve already exceeded last year’s total of $373.96, as well as my best-ever total of $402.78 in 2020.  Depressed stock prices during 2022 certainly paid off here.

We’ll see how it all turns out in next month’s dividend income report.

 

Progress Charts

The following are progress charts, also available on my Dividends page.  One month to go to close out 2022!

 

 

 

On an annual basis, here’s what the dividend totals look like.

I surpassed last year’s annual dividend total late in November.  Thus, it will be all gravy in December.  It looks like a Y-axis adjustment will be in order next month as I expect to push past $15K for the year!

 

 

Summary

I raked in over $1,220 in dividends in November.  This set a record for any mid-quarter month.  YoY dividend income growth was impressive, too, coming in over 20.2%.

Four of my dividend payments topped $100, led by more than $190 from ABBV.

Reinvested dividends provided better than $36 in additional forward dividend income, bringing my annual total over $438 with one month to go.

There were 7 dividend raises for my Portfolio stocks in November.  These boosted my additional forward dividend income by close to $127.  My top raise came from ADP, which also resulted in my largest income boost from any of the stocks in the group.

I made 9 Portfolio transactions in November.  My transaction count seems to be creeping higher each month.  The transactions consisted of 2 sales and 7 purchases.  One of the sales resulted in STOR exiting my Portfolio.  All the purchases were of existing Portfolio stocks.  The net investment after accounting for all the transactions was more than $1,430.  Additional forward dividend income rose by over $57.

Tallying the contributions from all sources, over $220 in additional forward dividend income came into my Portfolio in November.  This didn’t quite reach the lofty total from November 2021, but I was back above the $200 mark after a one month hiatus.

I’ll need a big month of December to reach a couple of my internal goals when it comes to additional forward dividend income for the year.

My Portfolio’s annual forward dividend income total finished the month at $16,206.68 (or $1,350.56/mo.).

 

How are your dividend goals for 2022 shaping up with one month left to achieve them?  Did you have any dividend raises top 20% in November?  Please share in the Comments!

I have updated the Portfolio & Dividends pages in conjunction with this monthly update.