Best Monthly Dividend Stocks For Your 2023 Portfolio

Colgate’s dividend dates back more than a century, to 1895, and the company has increased it annually for 61 years. CL last raised its payment in March 2023, upping the quarterly distribution by 2.1% to 48 cents per share. That payout has been on the rise for 39 consecutive years and has been delivered without interruption for 79.

• But business took a turn for the worse, and now the stock price is much lower since revenue is less.
• In terms of the United States, U.S. GDP expanded by a 2.9% annualized pace in Q4 2022, slightly better than expected.
• Another advantage of owning high dividend yield stocks relates to the time value of money.

Our artificial intelligence scours the about the adrs for the best investments for all manner of risk tolerances and economic situations. Then, it bundles them up in handy Investment Kits that make investing simple and – dare we say it – fun. Pfizer’s primary production focus is in the areas of vaccines; treatments for diabetes, heart disease, and cancer; and consumer healthcare products. Johnson and Johnson produce products for the pharmaceutical field, medical devices, personal healthcare, and grooming brands. Mainly known as a purveyor of soft drinks, Coca-Cola also has a broad product line of flavored beverages outside its core soda brand. When building your dividend portfolio, you want to ensure you invest in high-quality stocks.

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For most companies, it’s easy to find a number called its debt-to-equity ratio. Companies that are paying dividends are generally in mature industries. That means, compared to growth stocks, these stocks tend to have a lower percentage growth in revenue and earnings. This may make their share price less attractive when the economy is going well. But, these stocks will tend to outperform when the economy is slowing down. Steady Growth – A growing company shows consistent growth in both earnings per share and revenue.

The company’s board of directors sets the dividend amount and makes decisions about raising dividends over time. The company sets the ex-dividend date, which fixes the date by which investors must own the stock in order to get a dividend payment, and the record date when the dividend is paid. As the retail and housing markets cooled in 2022, so did shares of Home Depot, but it’s starting to recover. HD is 30% below its December 2021 all-time high, offering dividend investors a great opportunity to buy a company with a great track record.

Monthly Dividend Stock #25: Oxford Square Capital

In this https://1investing.in/, we have presented three groups of stocks with different goals in mind to suit the varying needs of a wider audience. Even though the risk profile of each group is different, each group in itself is fairly balanced and diversified. The company raised its payouts by 6% to $1.50 in March and recently announced a new $75 billion buyback program effective in April. With a robust operating environment, it’s plausible to assume that this Dividend King will continue rewarding its shareholders and then some.

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• It’s latest increase – upping the quarterly dividend by a penny to $1.08 per share – was announced in August 2022.
• This is because investors want certainty that a company can maintain and perhaps even grow its dividend even if its overall financial conditions weaken.
• ADP’s most recent dividend increase came in November 2022 when it lifted the quarterly payout 20% to $1.25 per share.

Such companies, known to have experience in navigating market downturns, pay regular dividends. A market report provided by ProShares stated that the S&P 500 declined by over 18%, while the Russell 2000 Index fell by more than 20% this past year. On the other hand, dividend stocks remained much more favorable and rewarded investors with strong, stable returns, outperforming both non-dividend stocks and bonds. JNJ’s diversification across mutiple segments adds fortitude to this defensive dividend stock, and that helps income investors sleep better at night.

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Dividends are usually paid quarterly but can be paid semi-annually or annually. A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. As a senior writer at AOL’s DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities. Founded in 1928, Genuine Parts has long made returning cash to shareholders a priority. In 2015, it acquired CareFusion, a complementary player in the same industry. Then in 2017, it struck a $24 billion deal for fellow Dividend Aristocrat C.R. Bard, another medical products company with a strong position in treatments for infectious diseases.

This next stock could seem a little weird given the state of the semiconductor industry, but that is one of the very reasons I made it. The sector has been severely punished in 2022, but I believe companies within this space that have diversified product lines and strong free cash flow represent a great opportunity. And with a yield that is double or even triple some of the other stocks on this list, Verizon is definitely one of the best dividend stocks for beginners right now.

NSE 2023 Dividend declared & upcoming dividend declared date by companies in NSE

But it shouldn’t go unnoticed that the packaged food company is about as reliable as they come when it comes to income investing, having raised its payout every year for more than five decades. Founded in 1823, it provides electric, gas or steam services to roughly 3.5 million customers in New York City and Westchester County. ConEd also happens to be North America’s second-largest solar power provider, and is investing in electric vehicle charging programs and other green energy endeavors. This dividend stalwart and its various predecessors have strung together uninterrupted payouts since 1882. To its credit, XOM was one of the few energy companies that didn’t cut or suspend its payout amid the pandemic-caused crash in oil prices. Atmos clinched its 36th straight year of dividend growth in November 2022, when it announced an 8.8% increase to 74 cents a share per quarter.

Pentair has raised its dividend annually for 47 straight years, most recently in December 2022, by 4.8% to 22 cents per share quarterly. A modest payout ratio and consistently ample free cash flow helps ensure that Pentair will continue to be one of the best dividend stocks. The company last raised its dividend in November 2022, by 2.1% to 12.25 cents a share per quarter.

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It’s also worth noting that, all else equal, SLR’s net investment income and dividend coverage benefit from rising interest rates. Most of the firm’s loan investments have floating rates, whereas SLR’s debt has primarily fixed interest rates. SLR’s unusual resilience in this volatile industry reflects the firm’s moderate use of leverage and well-diversified portfolio focused on relatively lower-risk investments. RioCan’s monthly dividend, which is likely to grow at a mid-single-digit rate to keep pace with cash flow growth, should be on more solid ground going forward.

Two key advantages of investing in dividend stocks include generating a passive income and dividend reinvestment. ZIM is an Israeli seaborne transportation and logistics services company. It operates a fleet of vessels and offers multi-modal, cargo handling, tariff management, and other related services. ZIM’s fourth-quarter dividend of $6.40 per share is payable April 3 to shareholders of record as of March 24, 2023. The Dow Jones Industrial Average component has paid shareholders a dividend since 1890, and has raised its payout for 66 years in a row.

Following the acquisition, the company’s revenues were up 71% from the prior-year period in its fourth quarter. As we advance, combining both companies will likely result in robust revenue growth in the upcoming quarters. Argus Research analyst John Staszak certainly believes LULU is one of the best stocks to buy for the long term. “Lululemon has a strong brand and growing direct-to-consumer sales, which we expect will lead to higher margins over the next several years,” the analyst writes in a note. Despite headwinds, we expect the company’s momentum to continue.” He adds that LULU’s selloff creates a “buying opportunity,” and has a long-term Buy rating on the consumer discretionary stock. Speaking for the bulls is Credit Suisse analyst Trung Huynh, who has an Outperform rating on MRK.

Annual EPS has grown at an average rate of 35.9% over the last five years. This rate of growth is expected to slow to 5.1% per year over the next five years. HCL Technologies Ltd offers a wide range of solutions in IT infrastructure management services, digital process operations, cloud-native services, cybersecurity services, digital & analytics services, and more. As of 28th February 2023, the company’s market capitalisation was Rs. 2,93,462.67 cr., the highest in this list. Real estate investment trusts are known for their high dividend yields. Some of these stocks have relatively low dividend yields but tremendous growth prospects.

Its annual dividend is $1.98 per share, which is a dividend yield of 2.97%. Most companies pay out dividends quarterly, so you can collect dividends every four months. Because of this, with a bit of work, you can build a monthly dividend portfolio. Dividends are issued on a timeframe that is also set by the board of directors. They can be issued monthly, quarterly, or annually, with a quarterly payment being the most common. Sometimes, a company pays a one-time-only special dividend outside its usual schedule.