10 Dividend Growth Stocks: April 2024

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'm presenting candidates trading below my risk-adjusted Buy Below prices with projected dividend growth rates above 10%. These screens produce candidates with exceptional total return prospects.

I own seven of the ten candidates in my DivGro portfolio.

Alphabet Initiates Dividend

Alphabet (GOOG) initiated a quarterly dividend of 20¢ per share.

The dividend will be paid on 17 June to shareholders of record on 10 June. The ex-dividend date is 7 June.

GOOG's contribution to DivGro's projected annual dividend income will be $32.00.

Travelers Dividend Increase

Travelers (TRV) increased its quarterly dividend by 5.00%, from $1.00 to $1.05 per share.

The dividend will be paid on 28 June to shareholders of record on 10 June. The ex-dividend date is 7 June.

TRV's contribution to DivGro's projected annual dividend income will increase by $20.00 to $420.00.

Johnson & Johnson Dividend Increase

Johnson & Johnson (JNJ) increased its quarterly dividend by 4.20%, from $1.19 to $1.24 per share.

The dividend will be paid on 4 June to shareholders of record on 21 May. The ex-dividend date is 20 May.

JNJ's contribution to DivGro's projected annual dividend income will increase by $15.20 to $376.96.

April 2024 Newsletter

Welcome to the April edition of DivGro 2.0's monthly newsletter!

In February, I strategically adjusted my DivGro portfolio, increasing my investments in stocks with higher dividend growth rates. Stocks with higher dividend growth rates often outperform stocks with higher dividend yields when looking at total returns.

The strategic adjustment involved many buy and sell transactions, and DivGro's projected annual dividend income [PADI] decreased significantly, from $50,499 in January to $45,868 in February. I aim to increase DivGro’s PADI to $48,000 by year’s end and reap the benefits of much higher total returns in the years to come.

I closed one position in March and added shares to three existing positions. DivGro now contains 75 positions, with 68 dividend growth [DG] stocks, three dividend-paying stocks, three closed-end funds [CEFs], and one stock that doesn't pay dividends. DG stocks have dividend increase streaks of five or more years.

Costco Wholesale Dividend Increase

Costco Wholesale (COST) increased its quarterly dividend by 13.73%, from $1.02 to $1.16 per share.

The dividend will be paid on 10 May to shareholders of record on 26 April. The ex-dividend date is 25 April.

COST's contribution to DivGro's projected annual dividend income will increase by $19.60 to $162.40.

Procter & Gamble Dividend Increase

Procter & Gamble (PG) increased its quarterly dividend by 6.99%, from 94.07¢ to $1.0065 per share.

The dividend will be paid on 15 May to shareholders of record on 19 April. The ex-dividend date is 18 April.

PG's contribution to DivGro's projected annual dividend income will increase by $22.32 to $402.60.

ETO Dividend Increase

Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (ETO) increased its monthly distribution by 26.13%, from 13.74¢ per share to 17.33¢ per share.

As a result, DivGro's projected annual dividend income [PADI] will increase by $646.20, and ETO's contribution to DivGro's PADI will increase to $3119.40 annually. 

The distribution is payable on 30 April to shareholders of record on 23 April. The ex-dividend date is 22 April.

10 Dividend Growth Stocks: March 2024

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'm presenting candidates with forward dividend yields above 3% and projected dividend growth rates above 7%.

These screens produce candidates offering solid yields and growth prospects. I own three of the ten candidates in my DivGro portfolio.