June 2024 Dividend Portfolio Update

With another month drawing to a close it’s time for our June 2024 dividend portfolio update. June is normally a large month for dividend distributions which we look forward to. But, for some reason many ETF’s and mutual funds are not funding distributions until July 1st this year. Maybe it has something to do with the new holiday in June?

We will have to keep this in mind when we review our numbers for June and for July as both months be skewed as a result of this anomaly. For our June 2024 dividend portfolio update we will be missing payouts from QYLD and SCHD. QYLD isn’t a huge deal as their payouts can be all over the place. However, SCHD is one of our largest holdings and the distributions are a pretty significant amount for our little portfolio.

While this is a little annoying it’s not really a big deal. It’s not like we are not getting the dividend payout or something more detrimental. The distributions are just deferred to the next month which makes our tracking and comparisons ugly.

Our Dividend Portfolio Month Ending June 2024:

SymbolCompanySharesChange From Prior MonthABBVABBVIE INC14.6099–ABRARBOR REALTY TR REIT35.484–BKHBLACK HILLS CORP6.42620.0728DOWDOW INC10.41520.1312EPDENTERPRISE PRODS PART LP6.4192–FRTFEDERAL REALTY INVT TR REIT6.5911–GISGENERAL MILLS INC5.4666–IBMIBM CORP3.44540.0335IRMIRON MTN INC NEW REIT13.6682–JEPIJPMORGAN EQUITY PREMIUM INCOME ETF15.9610.1015JNJJOHNSON & JOHNSON6.51840.0546KKELLANOVA2.23180.0212KHCKRAFT HEINZ CO5.66360.0698KMBKIMBERLY CLARK CORP2.2075–KOTHE COCA-COLA CO2.1901–MAINMAIN STREET CAPITAL12.52140.0606MMM3M CO10.08640.0684MOALTRIA GROUP INC15.1023–OREALTY INCOME CORP REIT13.93221.0634QYLDGLOBAL X FUND GLB X NSDQ100 CVD ETF36.6302–SCHDSCHWAB US DIVIDEND EQUITY ETF27.6578–SOSOUTHERN CO2.260.0203SPTNSPARTANNASH CO6.71920.0770TA T & T INC17.8265–VICIVICI PROPERTIES INC REIT10.28171.0000VTRSVIATRIS INC24.11422.2568VZVERIZON COMMUNICATN3.1977–XOMEXXON MOBIL CORP5.53520.0458Dividend Portfolio as of 6/30/2024

In the month of June we received dividend payments from BKH, DOW, IBM, JEPI, JNJ, K, KHC, MAIN, MMM, O, SO, SPTN, VTRS & XOM. Our dividends totaled $62.26 and all receipts were reinvested back into the underlying positions with the exception of the special dividend from MAIN.

In the month of June we had a little bit of cash and added to our positions in O (1), VICI (1) and VTRS (2). This was a bit of a departure from our norm as we didn’t add to SCHD this month. Since REITs and VTRS have been struggling that’s where we decided to put our cash to work.

StockJune 2023June 2024YOY Growth %BKH$1.98$4.13108.59%DOW$6.83$7.205.42%IBM$5.43$5.704.97%JEPI$4.72$5.7120.97%JNJ$7.47$8.027.36%K$1.25$1.24-0.80%KHC$2.14$2.244.67%MAIN    (m)$4.82$6.7540.04%MMM$12.70$7.01-44.80%O    (m)$1.37$3.38146.72%QYLD  (m)$5.76$0.00-100.00%SCHD$6.75$0.00-100.00%SO$1.51$1.616.62%SPTN$1.37$1.445.11%VTRS$1.25$2.62109.60%XOM$4.83$5.217.87%Total$70.18$62.26-11.29%YOY Dividend Growth

Here is where things get tricky with the timing of the distributions from SCHD and QYLD. Year over year for the month of June we show a decrease of 11.29%. But as you can see above we are missing those distributions.

In fact, SCHD announced a monster increase for their June distribution. This position alone would have added almost $23 to our June total. QYLD would have added close to another $6. That would turn our 11% decrease into a 30% YOY gain. Pretty impressive!

Looking at our other positions we see some excellent growth across the board. We should also point out that we had two dogs in K and MMM. This was expected as both had dividend cuts that are still being realized in our year over year numbers.

Overall we are very happy with our progress and while our numbers reflect a year over year decrease we are not having any of it. All this really means is that we should expect massive increase in our July numbers.

At the end of June 2024 our dividend portfolio was valued at $17,397. This is a 2.20% increase from month ending May 2024. We continue to reach new highs as the markets are determined to keep pushing up. While we appreciate the good look, how much longer can this go on? It’s been a pretty amazing run so a pull back is probably in order.

MonthPortfolio ValueMOM % ChangeMay 2024$17,022.852.20%June 2024$17,396.59MOM Portfolio Change

On a year over year basis our dividend portfolio value has increased by an impressive 32.04%. While we most likely will not hit our $1k PADI goal this year it’s nice to see that our overall portfolio is growing nicely. 

MonthPortfolio ValueYOY % ChangeJune 2023$13,175.6732.04%June 2024$17,396.59YOY Portfolio Change

With the additional shares added and the reinvestment of all dividends received our portfolio will now provide projected annual dividend income (PADI) of $875. This is about $73 per month on average and a $10 per year increase from our May update. For the month of June our yield on cost (YOC) was flat and remained at 5.45%.

We were able to recover about half of the PADI hit we took from the MMM dividend cut. However, the odds that we will be able to reach our $1k PADI end of year goal are extremely slim.

While it would be disappointing to not reach our goal it’s not the end of the world. Our little dividend portfolio has grown up to a nice size account despite setbacks and funding difficulties. This just goes to show that if we stay the course we can grow this portfolio into an impressive dividend machine over time. Patience is the name of the game!

Happy investing!

Joe

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