Summary
- November is about to be a spectacular month of dividend increases. We have 9 expected dividend increases in November, including several Dividend Kings.
- In this article, we will discuss the 9 companies in detail, along with summarizing some of October’s featured dividend increases.
- How many of the 9 dividend stocks do you own? Are you looking forward to the expected dividend increases in November?
November is about to be a spectacular month of dividend increases. We have 9 expected dividend increases in November, including several Dividend Kings! In this article, we will discuss the 9 companies in detail, along with summarizing some of October’s featured dividend increases.
Why Dividend Increases Matter
Dividends are the foundation of our goal to reach financial freedom. We continuously invest in dividend growth stocks to grow our passive income. If you haven’t figured it out by now, we eat, sleep, and breathe dividends!
If the goal is to produce a passive income stream that will one day cover our expenses, making sure that income stream grows is critical. Without growth, your dividend income stream will lose purchasing power to inflation. In 2022, this is a major problem, because inflation in 2022 continues to soar!
That is why dividend growth is a major deciding factor in all of our stock purchase decisions. It is the 3rd metric of our Dividend Stock Screener for a reason. For each stock, we review a company’s history of increasing dividends (consecutive annual dividend increases) and a company’s five-year average dividend growth rate!
Actual Dividend Increases in October 2022
Before we look ahead to an exciting month of dividend increases, let’s look back and see if the 5 featured dividend stocks from last month’s article delivered strong dividend increases!
Our article last month featured 5 expected dividend increases projected for October. Here were the results.
- AbbVie (ABBV
5% dividend increase - Exxon Mobil (XOM
3.4% dividend increase - Rockwell Automation (ROK
5.4% dividend increase - American Electric Power (AEP
6.4% dividend increase - McDonald’s (MCD
10.1% dividend increase (They made us wait a little; however, it was worth it for a 10.1% dividend increase)
Still, above and beyond the stocks listed above, there were other excellent dividend increases that were announced as well. We’d be fools if we didn’t list a few other companies that we did not feature last month, right?
- Visa (V
: 20% dividend increase… I cannot believe I missed this dividend increase in last month’s article. For all the companies to leave out… Visa. They continue to crush it from the dividend increase front. Their dividend yield may be low, but the dividend increases are mighty. - WestRock (WRK
: 10% dividend increase. We both have owned WestRock for years. We couldn’t be happier that this dividend stock announced a 10% dividend increase.
Dividend Increases Expected in November 2022
Dividend Stock #1: Hormel (HRL
- Consecutive Dividend Increases: 55+ years
- 2021 Dividend Increase: 8.3%
- 5-Yr Average Dividend Growth Rate: 8.87%
- Expected Timing of Dividend Announcement: End of Month
- Consecutive Dividend Increases: 64+ years
- 2021 Dividend Increase: 2.0%
- 5-Yr Average Dividend Growth Rate: 1.2%
- Expected Timing of Dividend Announcement: Beginning of Month
Dividend Stock #3: McCormick & Company (MKC
- Consecutive Dividend Increases: 35+ years
- 2021 Dividend Increase: 8.8%
- 5-Yr Average Dividend Growth Rate: 9.50%
- Expected Timing of Dividend Announcement: End of Month
Dividend Stock #4: Becton, Dickinson and Company (BDX
- Consecutive Dividend Increases: 49+ years
- 2021 Dividend Increase: 4.8%
- 5-Yr Average Dividend Growth Rate: 4.7%
- Expected Timing of Dividend Announcement: Beginning of Month
Dividend Stock #5: Dover Corporation (DOV
- Consecutive Dividend Increases: 65+ years
- 2021 Dividend Increase: 2.0%
- 5-Yr Average Dividend Growth Rate: 6.7%
- Expected Timing of Dividend Announcement: Beginning of Month
Dividend Stock #6: Merck & Co. (MRK
- Consecutive Dividend Increases: 11+ years
- 2021 Dividend Increase: 6.2%
- 5-Yr Average Dividend Growth Rate: 9.01%
- Expected Timing of Dividend Announcement: Middle of Month
Dividend Stock #7: Automatic Data Processing (ADP
- Consecutive Dividend Increases: 11+ years
- 2021 Dividend Increase: 6.2%
- 5-Yr Average Dividend Growth Rate: 9.01%
- Expected Timing of Dividend Announcement: Middle of Month
Dividend Stock #8: Nike (NKE
- Consecutive Dividend Increases: 9+ years
- 2021 Dividend Increase: 10.9%
- 5-Yr Average Dividend Growth Rate: 11.12%
- Expected Timing of Dividend Announcement: Middle of Month
Dividend Stock #9: Mastercard (MA
- Consecutive Dividend Increases: 11+ years
- 2021 Dividend Increase: 11.4%
- 5-Yr Average Dividend Growth Rate: 17.37%
- Expected Timing of Dividend Announcement: End of Month
Summary
November will be a busy month indeed. 9 companies are expected to announce a dividend increase in November. Further, every month, there seem to be a few surprise dividend increases that we are not expecting. Let’s see just how many strong dividend increases we will receive in November. From this list, I only own 1 of the stocks. Outside of Emerson Electric, this is going to be a quiet month!
How many of the 9 dividend stocks do you own? Are you looking forward to the expected dividend increases in November? Further, how many dividend increases did you receive in October?
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