DHIL - My Dividend Growth Portfolio January Update: Cooling On TXN And APD
2024-02-02 12:01:03 ET
Summary
- Blackstone's dividend increase for Q1 2024 fell short of analysts' projections, raising concerns about the company's ability to meet expectations.
- Texas Instruments and Air Products and Chemicals are two companies that I've cooled on for 2024 due to their capital spending and cashflows.
- January provided a mixed bag of dividend growth, but February brings a lot of expected increases.
January picked up right where 2023 left off. The market headed for record highs, with what felt like the first down day occurring right at the end of the month. Dividend increases were a mixed bag, with some major disappointments for dividend growth investors from dividend stalwarts and unexpected significant increases from others. Overall, it looks like we are setting up for a slower year of dividend growth.
Is Blackstone setting up to disappoint again?
At the end of the month, Blackstone announced its first-quarter dividend of $0.94. Compared to Q1 2023, this represents a 3% increase. Any increase is welcome, but analysts started the year with a better than 30% increase projection for the full year. Analysts are cutting estimates, and it's already down to about a 27% increase. Last year, they followed the same pattern, with the dividend coming in well below the initial estimates....
My Dividend Growth Portfolio January Update: Cooling On TXN And APD