10 Dividend Growth Stocks: December 2023

Welcome to the last edition of my monthly series of 10 Dividend Growth Stocks for 2023. In this series, I rank a selection of Dividend Radar stocks and present the 10 top-ranked stocks for further research and possible investment. 

This month,  I screened for stocks that pass stringent criteria for adding new stocks to my portfolio. I rank candidates by quality score and present the ten top-ranked stocks for further research and possible investment. 

These stocks are great candidates for your New Year shopping list!

29 Undervalued Dividend Aristocrats: December 2023

The S&P 500 Dividend Aristocrats Index contains 67 dividend growth stocks called the Dividend Aristocrats. With a few exceptions, the Dividend Aristocrats are S&P 500 companies with higher dividend payouts every year for 25 or more years. 

In this article, I rank the Dividend Aristocrats by quality score and present undervalued stocks for further research and possible investment. 

I consider stocks undervalued if they pass three valuation screens.

WEC Dividend Increase

WEC ($WEC) announced its next dividend of $0.835 per share, a 7.1% increase over the company's previous payout of $0.78.

DivGro's projected annual dividend income will increase by $44.00 to $668.00.

The dividend will be paid on Mar. 1 to shareholders of record on Feb. 14. The ex-dividend date is Feb. 13. 

I own 200 shares of WEC at an average cost basis of $97.97 per share. Following this increase, my yield on cost is 3.41%. (WEC's forward yield is 4.05% at $82.42 per share). 

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COST Special Dividend

On Thursday, Dec. 14, Costco ($COST) announced a special dividend of $15.00 per share. The dividend will be paid on Jan. 12 to shareholders of record on Dec. 28 (ex-dividend date: Dec. 27).

I own 25 shares of COST at an average cost basis of $431.78 per share, so $375.00 will be added to my DivGro portfolio from this special dividend.

PFE Dividend Increase

Pfizer ($PFE) announced its next dividend of $0.42 per share, a 2.44% increase over the company's previous payout of $0.41.

DivGro's projected annual dividend income will increase by $8.00 to $336.00.

The dividend will be paid on Mar. 1 to shareholders of record on Jan. 26. The ex-dividend date is Jan. 25. 

I own 200 shares of PFE at an average cost basis of $36.49 per share. Following this increase, my yield on cost is 4.60%. (PFE's forward yield is 6.31% at $26.63 per share). 

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AMGN Dividend Increase

Amgen ($AMGN) announced its next dividend of $2.25 per share, a 5.6% increase over the company's previous payout of $2.13.

DivGro's projected annual dividend income will increase by $48.00 to $900.00.

The dividend will be paid on Mar. 7 to shareholders of record on Feb. 16. The ex-dividend date is Feb. 15. 

I own only 100 shares of AMGN at an average cost basis of $218.62 per share. Following this increase, my yield on cost is 4.12%. (AMGN's forward yield is 3.27% at $275.59 per share). 

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O Dividend Increase

Realty Income ($O) announced its next dividend of $0.2565 per share, a 0.195% increase over the company's previous payout of $0.2560.

DivGro's projected annual dividend income will increase by $3.00 to $1,539.00.

The dividend will be paid on Jan. 12 to shareholders of record on Jan. 2. The ex-dividend date is Dec. 29.

I own 500 shares of O at an average cost basis of $56.29 per share. Following this increase, my yield on cost is 5.47%. (O's forward yield is 5.60% at $54.95 per share). 

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December 2023 Newsletter

Welcome to the December edition of my DivGro 2.0 newsletter.

In my monthly newsletters, I give a quick market recap and review my DivGro portfolio. I also present four top-10 lists of Dividend Radar stocks. 

In November, DivGro's projected annual dividend income (PADI) increased by about 0.8% and, year over year, by about 4.4%.

In November, I added shares to one existing position and nine DivGro stocks announced dividend increases. The net result of these changes is that DivGro's projected annual dividend income [PADI] increased by about 0.7%. Year over year, PADI increased by 5.2%.

AVGO Dividend Increase

Broadcom ($AVGO) announced its next dividend of $5.25 per share, a 14.13% increase over its previous payout of $4.60.

DivGro's projected annual dividend income will increase by $78.00 to $630.00.

The dividend will be paid on 29 December 2023 to shareholders of record on 20 December 2023. The ex-dividend date is 19 December 2023. 

I own only 30 shares of AVGO at an average cost basis of $271.26 per share. Following this increase, my yield on cost is 7.74%. (AVGO's forward yield is 2.22% at $944.30 per share). 

AVGO became DivGro's 39^th Home Run stock in October 2021, when the stock doubled my original capital outlay.

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BMY Dividend Increase

Bristol-Myers ($BMY) announced its next dividend of $0.60 per share, a 5.26% increase over the company's previous payout of $0.57.

 

DivGro's projected annual dividend income will increase by $36.00 to $720.00.

The dividend will be paid on 1 February 2024 to shareholders of record at the close of business on 5 January 2024. The ex-dividend date is 4 January 2024.

I own 300 shares of MA at an average cost basis of $57.95 per share. Following this increase, my yield on cost is 4.14%. (BMY's forward yield is 4.77% at $50.31 per share). 

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MA Dividend Increase

Mastercard ($MA) announced its next dividend of 66¢ per share, a 15.79% increase over the company's previous payout of 57¢.

DivGro's projected annual dividend income will increase by $18.00 to $132.00.

The dividend will be paid on 9 February 2024 to shareholders of record at the close of business on 9 January 2024. The ex-dividend date is 8 January 2024.

I own 50 shares of MA at an average cost basis of $329.29 per share. Following this increase, my yield on cost is 0.80%. (MA's forward yield is 0.64% at $412.16 per share). 

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SYK Dividend Increase

Stryker ($SYK) announced its next dividend of $0.80 per share, a 6.67% increase over the company's previous payout of $0.75.

DivGro's projected dividend income will increase by $2.00 to $32.00 annually. 

The dividend is payable on 31 January 2024 to shareholders of record at the close of business on 29 December 2023. The ex-dividend date is 28 December 2023.

I own only 10 shares of SYK at an average cost basis of $209.80 per share. Following this increase, my yield on cost is 1.53%. (SYK's forward yield is 1.11% at $289.10 per share). 

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NXC Dividend Increase

Nuveen California Select Tax-Free Income Portfolio ($NXC) announced its next monthly distribution of 4.55¢ per share, a 4.60% increase over the funds' previous payout of 4.53¢.

As a result, DivGro's projected annual dividend income [PADI] will increase by $57.60, and NXC's contribution to DivGro's PADI will increase to $1,310.40 annually. 

The distribution is payable on 29 December 2024 to shareholders of record at the close of business on 15 December 2023. The ex-dividend date is 14 December 2023.

I own 2,400 units of NXC at an average cost basis of $13.40 per unit. Following this increase, my yield on cost is 4.08%. In comparison, NXC's forward yield is 4.35% at $12.56 per unit. 

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TD Dividend Increase

The Toronto-Dominion Bank ($TD) announced its next dividend of C$1.02 per share, a 6.25% increase over the company's previous payout of C$0.96.

DivGro's annual dividend income will increase by approximately $34.04 as a result (after accounting for the exchange rate). 

The dividend is payable on 31 January 2024 to shareholders of record at the close of business on 10 January 2024. The ex-dividend date is 9 January 2024.

As with all foreign currency dividends, I'll update DivGro's projected annual dividend income [PADI] when the dividend is paid in January 2024. 

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RY Dividend Increase

Royal Bank of Canada ($RY) announced its next dividend of C$1.38 per share, a 2.22% increase over the company's previous payout of C$1.35.

DivGro's annual dividend income will increase by approximately $9.96 as a result (after accounting for the exchange rate). 

The dividend is payable on 23 February 2024 to shareholders of record at the close of business on 25 January 2024. The ex-dividend date is 24 January 2024.

As with all foreign currency dividends, I'll update DivGro's projected annual dividend income [PADI] when the dividend is paid in February 2024. 

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Home Run Number 48

November's rally lifted many of my DivGro stocks, and I'm happy to celebrate DivGro's 48^th Home Run today, 142 days after celebrating Snap-on (SNA) as my 47^th Home Run.

A Home Run stock is a stock that doubles my original investment in total returns. 

I've been tracking DivGro's Home Runs since 30 October 2014, when General Dynamics (GD) became my first Home Run stock. 

ENB Dividend Increase

Enbridge ($ENB) announced its next dividend of C$0.915 per share, a 3.10% increase over the company's previous payout of C$0.8875.

DivGro's annual dividend income will increase by approximately $41.26 as a result (after taking into account the exchange rate to US dollars). 

The dividend is payable on 1 March 2024, to shareholders of record at the close of business on 15 February 2024. The ex-dividend date is 14 February 2024.

As will all foreign currency dividends, I'll update DivGro's projected annual dividend income [PADI] when the dividend is paid in March 2024. 

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MRK Dividend Increase

Merck (MRK) announced its next dividend of $0.77 per share, a 5.5% increase over the company's previous payout of $0.73.

DivGro's annual dividend income will increase by $32.00 as a result, and MRK's contribution will increase to $616.00 annually. 

The dividend is payable on 8 January 2024, to shareholders of record at the close of business on 15 December 2023. The ex-dividend date is 14 December 2023.

I own only 200 shares of MRK at an average cost basis of $107.26 per share. Following this increase, my yield on cost is 2.87%. In comparison, MRK's forward yield is 3.05% at $101.03 per share. 

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HRL Dividend Increase

Hormel ($HRL) announced its next dividend of $0.2825 per share, a 2.7% increase over the company's previous payout of $0.275.

DivGro's annual dividend income will increase by $9.00 as a result, and HRL's contribution will increase to $339.00 annually. 

The dividend is payable on 15 February 2024, to shareholders of record at the close of business on 16 January 2024. The ex-dividend date is 12 January 2024.

I own 300 shares of HRL at an average cost basis of $41.22 per share. Following this increase, my yield on cost is 2.74%. In comparison, HRL's forward yield is 3.71% at $30.44 per share. 

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10 Dividend Growth Stocks For November 2023

In my monthly series of 10 Dividend Growth Stocks, I rank a selection of Dividend Radar stocks and present the 10 top-ranked stocks for further research and possible investment. 

This month, I'm presenting high-quality stocks with the highest defensiveness scores based on a scoring system developed by David Van Knapp. The scoring system considers four safety indicators and assigns 0-3 points to each indicator for a maximum of 12 points. The safety indicators are Beta, Dividend Safety, Beta, Safety Rank, and Great Recession Performance.

The latest Dividend Radar (dated November 17, 2023) contains 713 stocks. Of these, 26 have the highest possible defensiveness score of 12 points.

NKE Dividend Increase

Nike ($NKE) announced its next dividend of 37¢ per share, an 8.82% increase over the company's previous payout of 34¢.

DivGro's annual dividend income will increase by $1.80 as a result.

The dividend is payable on 2 January 2024, to shareholders of record at the close of business on 4 December 2023. The ex-dividend date is 1 December 2023.

I own only 15 shares of NKE at an average cost basis of $81.89 per share. Following this increase, my yield on cost is 1.81%. In comparison, NKE's forward yield is 1.37% at $108.01 per share. 

NKE became DivGro's 14^th Home Run stock in March 2017 when the stock doubled my original capital outlay.

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November 2023 Newsletter

Welcome to the November edition of my DivGro 2.0 newsletter.

In my monthly newsletters, I give a quick market recap, review my DivGro portfolio, and present four top-10 lists of Dividend Radar stocks. 

In October, DivGro's projected annual dividend income (PADI) increased by about 0.8% and, year over year, by about 4.4%.

ATO Dividend Increase

Atmos Energy ($ATO) announced its next dividend of 80.5¢ per share, an 8.78% increase over the company's previous payout of 74¢.

DivGro's annual dividend income will increase by $52.00 as a result.

The dividend is payable on 11 December 2011 to shareholders of record at the close of business on 27 November 2023, with an ex-dividend date of 24 November 2023.

I own 200 shares of ATO at an average cost basis of $89.47 per share. Following the increase, my yield on cost is 3.60%, whereas ATO's forward yield is 2.95% at $109.27 per share. 

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ADP Dividend Increase

ADP ($ADP) announced its next dividend of $1.40 per share, a 12.0% increase over the company's previous payout of $1.25.

DivGro's annual dividend income will increase by $60.00 as a result.

The dividend is payable on 1 January 2024 to shareholders of record at the close of business on 8 December 2023, with an ex-dividend date of 7 December 2023.

I own 100 shares of ADP at an average cost basis of $154.10 per share. Following this increase, my yield on cost is 3.63%. In comparison, ADP's forward yield is 2.48% at $226.00 per share. 

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EVRG Dividend Increase

Evergy ($EVRG) announced its next dividend of 64.25¢ per share, a 4.90% increase over the company's previous payout of 61.25¢.

DivGro's annual dividend income will increase by $12.00 as a result.

The dividend is payable on 20 December 2023, to shareholders of record at the close of business on 22 November 2023.

I own 100 shares of EVRG at an average cost basis of $58.90 per share. Following this increase, my yield on cost is 4.36%. In comparison, EVRG's forward yield is 5.11% at $50.33 per share. 

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AFL Dividend Increase

Aflac (AFL) announced a dividend increase of 19.05% to its Q1-2024 dividend, from 42¢ to 50¢ per share. 

DivGro's annual dividend income will increase by $64.00 as a result.

The dividend is payable on March 1, 2024, to shareholders of record at the close of business on February 21, 2024.

I own 200 shares of AFL at an average cost basis of $39.90 per share. Following this increase, my yield on cost is 5.01%. In comparison, AFL's forward yield is 2.47% at $80.99 per share. 

AFL became DivGro's 17^th Home Run stock in July 2018 when the stock doubled my original capital outlay.

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SNA Dividend Increase

Snap-on (SNA) announced its next dividend of $1.86 per share, a 14.81% increase over the company's previous payout of $1.62.

DivGro's annual dividend income will increase by $57.60 as a result.

The dividend is payable Dec. 11 to shareholders of record on Nov. 21, with an ex-dividend date of Nov. 20.

I own 60 shares of SNA at an average cost basis of $155.13 per share. Following this increase, my yield on cost is 4.80%. In comparison, SNA's forward yield is 2.79% at $267.07 per share. 

SNA became DivGro's 47^th Home Run stock in July 2023 when the stock doubled my original capital outlay.

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MAIN Special Dividend

Main Street ($MAIN) declared a special dividend of 27.5¢ per share, payable on 27 December to shareholders of record on 20 December (ex-dividend date: 19 December).

I own 300 shares of MAIN at an average cost basis of $21.65 per share, so $82.50 will be added to my DivGro portfolio from this special dividend. 

MAIN Dividend Increase

Main Street ($MAIN) announced its next dividend of 24¢ per share, a 2.13% increase over the company's previous payout of 23.5¢.

DivGro's annual dividend income will increase by $18.00 as a result. 

I own 300 shares of MAIN at an average cost basis of $21.65 per share. Following this increase, my yield on cost is 13.30%. In comparison, MAIN's forward yield is 7.33% at $39.30 per share. 

MAIN became DivGro's 6^th Home Run stock in September 2016 when the stock doubled my original capital outlay.

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ABBV Dividend Increase

AbbVie ($ABBV) announced its next dividend of $1.55 per share, a 4.73% increase over the company's previous payout of $1.48.

DivGro's annual dividend income will increase by $28.00 as a result. 

I own 100 shares of ABBV at an average cost basis of $60.56 per share. Following this increase, my yield on cost is 10.24%. In comparison, ABBV's forward yield is 4.46% at $138.93 per share. 

ABBV became DivGro's 11^th Home Run stock in February 2018 when the stock doubled my original capital outlay.

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10 Dividend Growth Stocks For October 2023

Welcome to another edition of my monthly series of 10 Dividend Growth Stocks. In this series, I rank a selection of Dividend Radar stocks and present the ten top-ranked stocks for further research and possible investment. 

I screened for high-quality stocks with superior growth and income prospects this month. Additionally, I screened for stocks trading below my risk-adjusted Buy Below prices, so this month's stocks also offer great value! 

I determine quality scores and sort stocks in descending order, breaking ties with additional metrics to rank stocks.

V Dividend Increase

Visa ($V) announced its next dividend of $0.52 per share, a 15.56% increase over the company's previous payout of $0.45.

DivGro's annual dividend income will increase by $28.00 as a result.

I own 100 shares of V at an average cost basis of $204.32 per share. Following this increase, my yield on cost is 4.54%. V now contributes $208 to DivGro's projected annual dividend income [PADI]. 

V currently yields 0.89% at $234.65 per share. 

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PNW Dividend Increase

Pinnacle ($PNW) announced its next dividend of $0.88 per share, a 1.73% increase over the company's previous payout of $0.865.

DivGro's annual dividend income will increase by $12.00 as a result.

I own 200 shares of PNW at an average cost basis of $77.57 per share. Following this increase, my yield on cost is 4.54%. PNW now contributes $704 to DivGro's projected annual dividend income [PADI]. 

PNW currently yields 4.65% at $75.72 per share. 

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October 2023 Newsletter

I just published the October edition of my DivGro 2.0 newsletter.

Each month, I give a quick market recap, review my DivGro portfolio, and present four top-10 lists of Dividend Radar stocks. 

In September, DivGro's projected annual dividend income (PADI) increased by about 0.3% and, year over year, by about 4.3%.

LMT Dividend Increase

Lockheed ($LMT) announced its next dividend of $3.15 per share, a 5.0% increase over the company's previous payout of $3.00.

DivGro's annual dividend income will increase by $24.00 as a result.

I own 40 shares of LMT at an average cost basis of $310.23 per share. Following this increase, my yield on cost is 4.06%. In comparison, LMT's forward yield is 2.90% at $434.16 per share. 

LMT became DivGro's 12^th Home Run stock in February 2018 when the stock doubled my original capital outlay.

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