I received $99.16 in taxable May 2020 dividend income. May brought my second dividend cut – costing me $26.40 in annual income. It doesn’t really affect my mindset toward Disney – this is a company I want to own 40 years from now, and hopefully with a lot more purchases. My uneducated guess is that Disney will adapt and come through, and eventually bring back a dividend.

As I write this, I have an air conditioning replacement coming in a week. I wanted to put it off another year, but I’m fortunate to work from home and that’s sort of made my decision for me. Still, I managed to contribute a few more dollars to my portfolio this month.

Dividend Growth

Two 6% raises!

PG’s 6% was higher than I was expecting. This raise is their best since 2014. Their historic yield has been in the high 3% range, and was recently in the mid 2% range, so this dividend hike moves the needle a bit closer to their historic.

Also coming in at a 6% raise was Apple. As opposed to PG though, I was expecting higher for Apple. The market crash was probably enough to shake any company, so I’m still thankful for the raise. I’ll have to wipe my tears with their return to enormous all-time highs.

No big surprises from CL. 2.3% is right in line with their previous couple of years. I love the consumer products business and use their stuff all the time without realizing it, but I haven’t added to my CL holding since 2016 when I first started DGI investing.

Forward Dividend Income

Another net negative month! My tracking sheet doesn’t handle dividend cuts well, and I can’t blame it because no one likes them. Even though I made a few purchases and got a few raises, my net annual forward income change was negative this month due to the Disney cut.

Purchases – PG, AWR, and ACN

Purchased 0.84 shares of Proctor & Gamble (PG) @ $116.07/share

I put most of my reinvested dividends into PG this month. Similar to CL, I love PG’s consumer product industry. When grocery stores went bare, PG’s products were what people cycled through and needed first (even when the world was fairly uncertain).

Purchased 0.2 shares of American States Water Company (AWR) @ $78.31/share

I had a few dollars and liked AWR’s price, so picked up a fraction. I’m (very) slowly building AWR into one of my top 10 holdings. For a utility company, its dividend and share price growth has been incredible.

Purchased 2.59 shares of Accenture (ACN) @ $197.36/share

Along with consumer goods and utilities, I trended toward professional services. This is another business model I love. It doesn’t matter what company or industry – Accenture can jump in and help. I now have about as much ACN as I do Lowe’s, Medtronic, and Texas Instruments.

Head on over to my portfolio page if you’d like to see what companies pay me in other months!