It’s dividend income update time. One of my favorite times of the month as I get to review my previous month of passive income received from my dividend income portfolio.
Without rehashing the wild ride we experienced in the market so far in 2023, I could find comfort in one thing, my dividends. As we all know, the market may move up and down irrationally and seemingly on a whim while our dividends remain much more stable, reliable and predictable (even with those occasional cuts we all experience).
Sure, dividends may not increase every year and a cut or elimination is even possible, but the odds are greatly reduced when you diversify among different companies and sectors and focus on dividend quality (free cash flow, EPS, payout ratios and simply cash on hand). With that being said, let’s take a look at my May 2023 dividend totals.
| Date | Symbol | Description | Amount |
|---|---|---|---|
| 05/01/2023 | GIS | General Mills Inc. | $132.89 |
| 05/01/2023 | T | AT&T Inc. | $151.07 |
| 05/01/2023 | VZ | Verizon Communications | $126.96 |
| 05/08/2023 | APD | Air Products and Chemicals | $72.97 |
| 05/12/2023 | GD | General Dynamics Corp. | $13.24 |
| 05/12/2023 | CLX | Clorox Co. | $20.16 |
| 05/15/2023 | HRL | Hormel Foods Corp. | $23.77 |
| 05/15/2023 | CL | Colgate-Palmolive Co. | $8.69 |
| 05/15/2023 | PG | Procter & Gamble | $26.52 |
| 05/15/2023 | ABT | Abbott Laboratories | $40.45 |
| 05/15/2023 | ABBV | AbbVie Inc. | $332.01 |
| 05/18/2023 | AAPL | Apple Inc. | $11.82 |
| 05/19/2023 | CAT | Caterpillar Inc. | $90.81 |
| 05/26/2023 | SBUX | Starbucks Corp. | $16.37 |
| Total: | $1,067.73 |
Hitting the elusive four-digit mark in May has been a welcome sign for me on my dividend growth journey. In May 2022, I brought in $862.43 and this May, I have seen a year-over-year increase of 23.8%.
A win in my book. This just goes to show that even holding some serious dogs in my portfolio, I continue to grow my passive income stream.
It will be interesting to see how the market plays out during the second half of the year. Most are predicting more pain as interest rates rise, which should continue to hammer overall markets in general.
With lower prices, as dividend investors know, come higher yield. These next five to six months could be great times to dollar-cost average into positions that are beaten down, potentially lowering your cost basis and capturing higher initial yield.
Are any of these dividend stocks in your portfolio too? How was your May dividend income? Please let me know below.
Disclosure: Long all above.
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