10 Undervalued Dividend Growth Stocks: August 2024

After taking two months off from my 10 Dividend Growth Stocks series, I'm refocusing the series to identify top-ranked undervalued stocks. 

By implication, such stocks are suitable candidates for your dividend growth portfolio because they're high-quality dividend growth stocks trading at or below fair value. 

This month, I'm presenting the ten top-ranked undervalued DG stocks in Dividend Radar. In future articles, I'll use additional screens to focus on other aspects of dividend growth investing. 

Altria Dividend Increase

On 22 August, Altria (MO) increased its quarterly dividend by 4.08%, from 98¢ to $1.02 per share.

The dividend will be paid on 10 October to shareholders of record on 16 September. The ex-dividend date is 16 September.

MO's contribution to DivGro's projected annual dividend income will increase by $48 to $1,224.

August 2024 Newsletter

Welcome to the AUGUST edition of my DivGro 2.0 newsletter!

The August Newsletter provides a quick market recap and overview of my DivGro portfolio (as of 31 July 2024). It also reveals four new top-10 lists!

In July, I opened two new positions and added shares to three existing positions. Additionally, I closed two positions and reduced my holdings in two positions.

I'm continuing to align DivGro more closely to its desired target weights. 

Illinois Tool Works Dividend Increase

On 2 August, Illinois Tool Works (ITW) increased its quarterly dividend by 7.14%, from $1.40 to $1.50 per share.

The dividend will be paid on 11 October to shareholders of record on 30 September. The ex-dividend date is 30 September.

ITW's contribution to DivGro's projected annual dividend income will increase by $34.00 to $510.

American States Water Dividend Increase

On 1 August, American States Water (AWR) increased its quarterly dividend by 8.30%, from 43¢ to 46.56¢ per share.

The dividend will be paid on 3 September to shareholders of record on 16 August. The ex-dividend date is 16 August.

AWR's contribution to DivGro's projected annual dividend income will increase by $34.08 to $446.88.

Mondelez Dividend Increase

On 1 August, Mondelez (MDLZ) increased its quarterly dividend by 10.59%, from 42.5¢ to 47¢ per share.

The dividend will be paid on 14 October to shareholders of record on 30 September. The ex-dividend date is 30 September.

MDLZ's contribution to DivGro's projected annual dividend income will increase by $36 to $376.

Home Run Number 52

Today, DivGro delivered my 52^nd Home Run stock. When a stock in my portfolio doubles my original investment in total returns, I assign it Home Run status. 

This is a milestone worth celebrating!

As a dividend growth investor, I invest in high-quality dividend growth stocks. Unless the underlying fundamentals change, there's rarely a reason to sell these stocks. And if I hold dividend growth stocks long enough, eventually they'll double my original investment in total returns and become Home Run stocks!