Phillips 66 (PSX) Dividend Increase Announced on May 9, 2018

The dividend increase that Phillips 66 (PSX) announced this month pushes the quarterly payment up by more than dollar over the first payment I received around Labor Day 2016.  The upcoming payment will be 34 percent higher than the first, 18 percent higher on an annualized basis, and 18 percent higher than the payment from one year earlier.

While dividend payments have gone up nicely, the value of the shares in the nP portfolio has increased as well.

Cardinal Health, Inc. (CAH) Dividend Increase Announced on May 9, 2018

Cardinal Health, Inc. (CAH) has raised its dividend, although not at an especially high rate.  The next dividend payment will be 10% higher than the first payment I received early 2017.  That rate of increase translates into a 7% annualized increase.  Over the past year, the increase is 6%

While the dividend payments have moved up slightly, the value of the shares has actually declined in the time that I have owned CAH.

If CAH continues to grow its dividend at such a slow pace, it will likely have to be sold to be replaced by another security in the nP portfolio.  But at its current valuation, CAH is not a candidate to sell.

Apple Inc. (AAPL) Dividend Increase Announced on May 1, 2018

Apple Inc. (AAPL) announced a dividend increase earlier this month, and paid its first payment at the new rate just days ago.  The latest payment was 32 percent higher than my first payment in the summer of 2016.  The annualized increase in the payment amount is 17 percent.  The increase over the past year is 18 percent.

Although AAPL has been in the nonPension portfolio for fewer than 2 years, the value of the shares has already more than doubled during that time.

AAPL's dividend yield is lower than the typical security in the nonPension portfolio, but if the dividend keeps rising at the rate it has risen during the past two years, then AAPL will pay more than its share of the average monthly dividend income when December 2035 rolls around.

Legg Mason, Inc. (LM) Dividend Increase Announced on April 25, 2018

Legg Mason, Inc. (LM) raised its dividend in late May, pushing my quarterly dividend payment up to more than $2 higher than my first payment two years ago.

During the time I have held LM in my nonPension portfolio, the value of my shares has also increased nicely.

If Legg Mason continues raising its dividend at rates like we have seen over the past two years, then it will continue to remain in the portfolio.

My monthly income was up 0.8% in April.

The nonPension portfolio had an increase in income of 67 cents to $82.58 going forward.

The net increase in monthly income comes from one sale, one purchase, four dividend increases, and reinvestment in several securities.

I sold about half of my Westrock (WRK), which resulted in a reduction in monthly income of $1.15.  I sold half because it became worth double what it was when I purchased it, and the dividend increases have slowed down.

I purchased some Aflac (AFL), which resulted in an increase going forward of 95 cents.  I bought AFL because of its larger than normal recent dividend increase.

Carnival Cruise Lines (CCL) raised its dividend 11% on April 11, which increases monthly income by 19 cents.  This is the second increase in the past year.

⛅Whirlpool (WHR) raised its dividend 5% on April 17, which increases monthly income by 5 cents.

AMERIPRISE (AMP) raised its dividend 8% on April 23, which increases monthly income by 12 cents.

🌟Legg Mason (LM) raised its dividend 21% on April 25, which increases monthly income by 35 cents.

Dividend reinvestment accounted for the remaining 16 cents in additional income.  The securities affected by this were BBY, CAH, EMN, GLW, HPQ, IRM, JCI, M, UNP, VIAB.

The rate at which dividend income is growing in this portfolio, makes it appear that my goal of reaching $560 per month in monthly income by the end of 2035 will be reached successfully.

Ticker	Shares	Avg Monthly Dividends	One Year Ago	% Change
AAPL	5.152	$1.08	$0.98	10.53%
ABBV	9.743	$3.12	$2.08	50.00%
ADM	12.916	$1.44	$1.38	4.69%
ADNT	1.000	$0.09	$0.09
AFL	11.000	$0.95	$0.79	20.93%
AMGN	3.163	$1.39	$1.21	14.78%
AMP	5.259	$1.58	$1.45	8.43%
BA	4.265	$2.43	$2.02	20.42%
BBY	16.865	$2.53	$1.91	32.35%
BG	9.438	$1.45	$1.32	9.52%
CAH	7.274	$1.12	$1.09	3.01%
CCL	11.516	$1.92	$1.54	25.00%
EAT	10.707	$1.36	$1.21	11.76%
EMN	7.400	$1.38	$1.26	9.80%
GEO	25.008	$3.92	$3.92	0.00%
GILD	6.298	$1.20	$1.09	9.62%
GLW	28.435	$1.71	$1.47	16.13%
HBI	24.675	$1.23	$1.23	0.00%
HOG	12.796	$1.58	$1.56	1.37%
HPQ	38.950	$1.81	$1.72	4.97%
INTC	14.666	$1.47	$1.33	10.09%
IP	14.108	$2.23	$2.17	2.70%
IRM	15.973	$3.13	$2.93	6.82%
JCI	10.383	$0.90	$0.87	4.00%
JPM	8.397	$1.57	$1.40	12.00%
KSS	12.110	$2.46	$2.22	10.91%
LAMR	7.268	$2.20	$2.01	9.64%
LM	16.913	$1.92	$1.58	21.43%
M	13.335	$1.68	$1.68	0.00%
MPC	16.963	$2.60	$2.04	27.78%
OHI	17.330	$3.81	$3.64	4.76%
PAG	11.321	$1.28	$1.13	13.33%
PFE	16.000	$1.81	$1.71	6.25%
PRU	6.438	$1.93	$1.61	20.00%
PSX	6.343	$1.48	$1.33	11.11%
QCOM	9.697	$2.00	$1.84	8.77%
R	10.572	$1.83	$1.55	18.18%
SBUX	8.123	$0.81	$0.68	20.00%
T	16.793	$2.80	$2.74	2.04%
TGT	7.485	$1.55	$1.50	3.33%
UNP	6.317	$1.54	$1.27	20.66%
VIAB	12.628	$0.84	$0.84	0.00%
VZ	10.845	$2.13	$2.09	2.16%
WFC	10.506	$1.37	$1.33	2.63%
WHR	3.131	$1.20	$1.15	4.55%
WRK	7.951	$1.14	$1.06	7.50%
WYN	7.307	$1.61	$1.41	13.79%
TOTAL		$82.58	$74.43
Overall annual increase in dividend payments				10.95%
Overall dividend yield -- dividends reinvested				3.46%
Approximate annual growth rate including reinvestment and increases				14.79%
Annual growth rate needed				11.50%
Ahead of goal rate by				3.29%