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 the last couple of months with triple digit gains and losses coming in seemingly every single day, 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 October 2023 dividend totals.
| Date | Symbol | Description | Amount |
|---|---|---|---|
| 10/02/2023 | KO | THE COCA-COLA CO | $59.44 |
| 10/01/2023 | UGI | U G I CORP | $31.88 |
| 10/03/2023 | KMB | KIMBERLY CLARK CORP | $76.14 |
| 10/06/2023 | CB | CHUBB LTD F | $7.74 |
| 10/10/2023 | MO | ALTRIA GROUP INC | $377.07 |
| 10/12/2023 | PM | PHILIP MORRIS INTL | $202.25 |
| 10/12/2023 | ITW | ILLINOIS TOOL WORKS | $81.78 |
| 10/12/2023 | GSK | GSK PLC | $43.63 |
| 10/13/2023 | MDLZ | MONDELEZ INTL | $13.67 |
| 10/13/2023 | LEG | LEGGETT & PLATT INC | $33.72 |
| 10/15/2023 | CAH | CARDINAL HEALTH INC | $31.94 |
| 10/17/2023 | DEO | DIAGEO PLC | $103.95 |
| 10/20/2023 | JCI | JOHNSON CONTROLS | $44.03 |
| Total: | $1,107.24 |
Another four digit month came in this year. As you can imagine, I am quite happy seeing that. October 2023 has given me year over year gain of 12.3% as well. The power of fresh buys, reinvesting and dividend raises at work.
Are any of these dividend stocks in your portfolio too? How was your October dividend income? Please let me know below.
Disclosure: Long all above
great stuff man.
weird I don’t hold any of those. normally there’s some overlap.
keep it up great yr over yr growth and 1k is always nice to beat
Hi Passivecanadianincome,
True, I usually overlap with at least a couple of holdings among our fellow DGI players. Either way, I’m happy with the results. As always, thanks for commenting.
Awesome update, nice final number. That $1,107.24 looks really nice. The only ones you and I share is KO and MO, thought I’ve been looking at KMB.
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Hi RB,
Four figures is the milestone many in the DGI space look to achieve. Of course, once you reach it the next milestone is set. Thanks for sharing your holdings.
Yes sir. I calculated and should be just above $100 for the year in dividends. My goal for next year is to triple it with a mini goal of doubling it.
RomesBlog recently posted…S&P 500 Historical Returns: Patience is Key
Hi RB,
Sounds good. Keep your eye on the future!
Nice job on 4 figures DivHut. Like you, MO was an October workhorse for me. Tobacco has faced tumult the last 30+ years, but will be interesting to see if MO can keep their divy increases as predicted in the mid single digit range (4-6%), or if their lack or progress with RRP (reduced risk products) comes to haunt them.
Also glad I started a DEO position a few years ago, this blip is temporary and I hope now is a solid time for DEO to boost a position.
And of course, we both are watching to see what UGI does with its volatile Amerigas propane division after announcing their “strategic review” in August. As a dividend growth person, I often cringe since “Strategic reviews” can be codespeak for a frozen or cut dividend.
Any thoughts on WBA and their current silence on any dividend raise?
GLTA, Gran Torino
Hi GT,
MO is the stock everyone loves to hate. It has been a great performer for multiple decades despite declining smoking volume, negative press, continued lawsuits and more. The reality of MO is that is continues to command high prices from consumers and is a diversified company with smokeless products and a growing alcohol portfolio too. I’ll always add to my position when prices are down. DEO is another solid consumer vice play that has been in my portfolio for a very long time. It controls some of the most popular and widely used alcohol brands and can be a good long term hold for those looking for reliable dividends. UGI is a recent stinker in my portfolio. It has been a good play in the past but 2023 has been rough for this name. I’ll continue to nibble and average down at these levels. Sometimes, the best plays turn negative for a looooong time and eventually make a comeback. GE comes to mind in recent years. A long time darling, cut its dividend, saw stock price plummet, did multiple spin offs and was in the dumps for many, many years only to come back very strong in 2023. This turnaround for GE took a long time but has come. It’s why I still hold VFC and other stinkers. Sometimes the make a strong comeback and as long as those dividends keep rolling in I’m OK. I don’t follow WBA at all or any of the consumer stores really. WBA, CVS and the like have seen a tough ’23. I couldn’t give you an opinion on those.
Great month! I have a few of these…Coke, Philip Morris and Illinois Tool Works. I’m on the fence with Altria, just because their payout ratio is so high, it makes me nervous. But, it is hard to pass up a 9% dividend. Love your updates!
Hi Jim,
I agree. MO and PM have a historically high payout ratio so that is nothing new but I do understand your hesitation in that respect. That yield though and dividend payment history suggests that MO and PM should continue to pay shareholders well. Thanks for sharing your common holdings. ITW… one of my favorite long term boring dividend holds that just delivers.