Welcome to My 2nd Quarter 2020 Dividend Report. This Report is dedicated to tracking my quarterly dividend income. Many of you already know I love Growth and Income stocks as a great way to beat inflation while companies pay you to wait while they execute there growth plans. My Goal is to average $5,000/month or $15,000/quarter in dividend income.
2nd Quarter 2020 Dividend Income
My dividend income is devised of investments in Altria (MO) in the Tobacco Industry and Blackstone Group (BX) in the Asset Management Industry. Blackstone Group current stock price $53.73 and dividend yield 3.69 % (.49/share $1.97/year) pays a fluctuating dividend based on company results. Altria’s current stock price $40.27 and dividend yield 8.70 % (.84/share $3.36/year) pays a consistent dividend and has raised the dividend 54 times the past 50 years.
Dividend:
Blackstone has declared a quarterly dividend of $0.37 per share to record holders of Class A common stock at the close of business on August 3, 2020. This dividend will be paid on August 10, 2020.
2nd Quarter 2020 Blackstone Group paid $0.37/share or $2,243.38 based on 6,063.205 shares owned. Stephen A. Schwarzman, Chairman and Chief Executive Officer, said, “It was a strong quarter for our firm despite the continued market volatility. Investment performance rebounded sharply, we continued to deploy capital in high conviction sectors and our limited partners entrusted us with another $20 billion of inflows across our expanding platform. We are very well positioned to navigate the road ahead with our long-term committed capital model and an industry-record $156 billion of dry powder.”
Dividend:
Altria Group has declared a quarterly dividend of $0.84 per share to record holders of Class A common stock at the close of business on June 15, 2020. This dividend will be paid on July 10, 2020.
2nd Quarter 2020 Altria Group paid .84/share or $8,842.07 based on 10,526.275 shares owned. Altria Group Inc. MO today announces its 2020 first-quarter business results, including strong performance from its core tobacco segments and the withdrawal of its full-year 2020 adjusted diluted earnings per share (EPS) guidance and 2020 – 2022 adjusted diluted EPS growth objective due to COVID-19 uncertainty. “The first-quarter brought out the best in Altria’s employees as we navigated the dynamic tobacco environment and the unprecedented effects of the COVID-19 pandemic,” said Billy Gifford, Altria’s Chief Executive Officer. “We’ve approached these challenges together by focusing on the health and welfare of our employees, maintaining business continuity and supporting our communities.”
“We had an excellent start to the year, growing our first-quarter adjusted diluted EPS by 18.5%, driven by the strength of our smokeable and oral tobacco products segments. Due to the uncertainties related to the impact of the COVID-19 pandemic on our diverse business model and economic recovery scenarios, we’re withdrawing our full-year 2020 adjusted diluted EPS guidance and, as a result, we’re also withdrawing our compounded annual adjusted diluted EPS growth objective. We’re continuing to assess the COVID-19 situation and intend to reestablish guidance at the appropriate time.” “Our dividend is important to our investors and it remains a top priority for us. Our objective continues to be a dividend payout ratio target of approximately 80% of adjusted diluted EPS. For 2020, we expect to recommend a quarterly dividend rate to our Board that reflects, among other things, our strong cash generation and the strength of our balance sheet.”
This is why Growth and Dividend stocks make good Money Sense. I will see you next quarter and report news and distribution.