Most U.S. companies that pay dividends do it quarterly, or once every 90 days or so (foreign firms usually pay but once or twice a year). If your income stocks are on the same schedule, your payments will come much less regularly than, say, your relentless gas and electric bills.
That's why many retirees and other dividend fans try to arrange matters so the income arrives more frequently. You can easily assemble a set of excellent dividend stocks with staggered pay dates. That's the idea of our Dividend-a-Month portfolio, assembled by the editors of Kiplinger's Investing for Income: cash every month, without interruption. You can play the calendar without dabbling in questionable stocks or worrying about the reliability of dividends.
Disclaimer
Data is as of Nov. 20. Dividend yields are calculated by annualizing the most recent payout and dividing by the share price.
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January: Illinois Tool Works
- Market value: $55.4 billion
- Dividend yield: 2.5%
- 5-year annual dividend growth: 17.5%
- Payout schedule: January, April, July, October
- Illinois Tool Works (ITW, $172.44) is a global manufacturer and inventor with many segments from car parts to welding supplies to restaurant equipment. Only half of its revenues are generated in North America, with the rest coming from around the world.
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February: Valero Energy
- Market value: $39.9 billion
- Dividend yield: 3.7%
- 5-year annual dividend growth: 27.9%
- Payout schedule: February, May, August, November
- Valero Energy (VLO, $97.19) is the world's largest independent refiner (meaning a refinery owner that does not produce its own oil).
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March: Intel
- Market value: $251.9 billion
- Dividend yield: 2.2%
- 5-year annual dividend growth: 5.9%
- Payout schedule: March, June, September, December
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April: McCormick
- Market value: $22.3 billion
- Dividend yield: 1.4%
- 5-year annual dividend growth: 8.9%
- Payout schedule: January, April, July, October
- McCormick (MKC, $167.95) is a classic income-and-growth investment that's fueled by its great brands, from Old Bay Seasoning in its Maryland backyard to household names in Europe, Asia and Latin America.
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May: CVS Health
- Market value: $97.5 billion
- Dividend yield: 2.7%
- 5-year annual dividend growth: 17.3%
- Payout schedule: February, May, August, November
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June: WisdomTree U.S. MidCap Dividend Fund
- Market value: $4.0 billion
- Dividend yield: 2.3%
- 5-year annual dividend growth: N/A
- Payout schedule: Monthly
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July: JPMorgan Chase
- Market value: $406.6 billion
- Dividend yield: 2.8%
- 5-year annual dividend growth: 12.8%
- Payout schedule: January, April, July, October
- JPMorgan Chase (JPM, $129.63) is America's largest banks by assets and one of the largest financial firms in the world. In addition to serving millions of customers through its retail arm, it also offers commercial banking, investment banking and asset management, among other businesses.
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August: Realty Income
- Market value: $25.4 billion
- Dividend yield: 3.5%
- 5-year annual dividend growth: 4.0%
- Payout schedule: Monthly
- Realty Income (O, $77.99) is a well-known REIT that owns more than 5,900 single-tenant properties. It leases those properties out retailers such as CVS and Walgreens (WBA), gyms, theaters and restaurants, typically with long-term agreements.
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September: Johnson & Johnson
- Market value: $357.8 billion
- Dividend yield: 2.8%
- 5-year annual dividend growth: 6.5%
- Payout schedule: March, June, September, December
- Johnson & Johnson (JNJ, $135.94) is one of the world's biggest and most diversified health-care companies, boasting not just consumer brands such as Tylenol and Band-Aids, but pharmaceutical and medical-device divisions too.
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October: Automatic Data Processing
- Market value: $73.8 billion
- Dividend yield: 2.1%
- 5-year annual dividend growth: 10.2%
- Payout schedule: January, April, July, October
- Automatic Data Processing (ADP, $170.58) likely prints out your paycheck among the millions it handles across 140 countries.
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November: General Dynamics
- Market value: $53.3 billion
- Dividend yield: 2.2%
- 5-year annual dividend growth: 16.7%
- Payout schedule: February, May, August, November
- General Dynamics (GD, $184.33) is another Dividend Aristocrat, this time in the defense space. GD owns technology and military businesses, from jet planes to tanks and submarines, and it also makes Gulfstream civilian jets. Two-thirds of the revenue comes from the U.S. government.
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December: American Electric Power
- Market value: $45.2 billion
- Dividend yield: 3.1%
- 5-year annual dividend growth: 5.3%
- Payout schedule: March, June, September, December
- American Electric Power (AEP, $91.46) is our favorite no-nonsense, no-frills electric-generating enterprise. with operations in 11 Midwestern and Southern states. It has elevated its dividend every year since 2005.
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