July has arrived, and that means it’s time to look at dividend stocks with ex-dividend dates this month. This is the date you must own a stock by in order to be eligible for their next dividend payment. By looking at stocks with upcoming ex-dividend dates, you can avoid having to wait several months to start collecting that passive income. Using the TipRanks Dividend Calendar, we’ve found 5 stocks that all have ex-dividend dates in the coming month, plus have a Strong Buy consensus from Wall Street, so let’s take a look.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
HASI Corp
First we are looking at HASI Corp (HASI), or Hannon Armstrong Sustainable Infrastructure Corp. They are focused on investing in climate solutions, providing capital and services to clients to deploy assets that help facilitate the energy transition. Their three key markets are Behind-the-Meter, Grid-Connected, and Fuels, Transport & Nature. As of March 31, 2024, the company boasted a $6.4 billion portfolio, which increased 36% in the last twelve months.
Looking at their dividend payment, HASI Corp has been paying and increasing their dividend since 2013. Their current quarterly dividend is $0.41 per share, for a dividend yield of 5.35% with an ex-dividend date of July 3rd, 2024, and payment on July 12th.
On May 7th, HASI Corp shared their Q1 earnings report, where they did have an earnings beat with $0.68 EPS outpacing the $0.57 estimates. This represented a 28.30% YoY increase. Revenue of $105.82M also beat expectations, and increased $37M. HASI Corp closed $562M of investments in Q1, and also announced a strategic partnership with KKR, to invest in $2B of sustainable infrastructure assets.
The HASI Corp stock has a Strong Buy consensus based on 9 current analyst ratings. Their average Price Target of $36.22 would imply an upside potential of 26.20%.
JP Morgan Chase
Next, we have JP Morgan Chase (JPM), which is a global financial services company and is the largest bank in the United States. They offer services to individuals, corporations, institutions, and governments worldwide, including investment banking, commercial banking, consumer and community banking, along with wealth management and private banking. With operations in over 100 counties, JP Morgan has assets of $2.6 Trillion worldwide.
JP Morgan Chase has dividend payments dating back to the 1970’s. While they did have to cut their dividend in 2008 due to the financial crisis, they have been steadily growing it since. Their current quarterly dividend sits at $1.15 per share, for a dividend yield of 2.15%. Their next ex-dividend date is July 5th, 2024, for a payment date of July 31st.
They’ll be sharing their Q2 results soon, on July 12th. This follows a Q1 earnings beat back in April where their EPS of $4.44 beat estimates by $0.27. JP Morgan Chase reported revenue of $41.9 Billion and ROE of 17%.
With 22 current analyst ratings, the JPM stock is rated a Strong Buy, with 17 Buys and 5 Holds. The average Price Target of $213.82 would imply upside potential of 5.95%.
AT&T
Third on our list of dividend stocks is AT&T (T) They are a telecommunications company providing services to consumers and businesses worldwide. They offer wireless and wireline telecom services, including cell phones, digital tv and landlines. Their 5G network reaches around 295 million people in the US alone.
AT&T has been long known for their stable, high-yield dividend payment, but when they spun off their Warner Brothers business a couple years ago, their dividend payment did get cut. Even with this cut, the AT&T dividend still has a respectable yield – their current quarterly dividend of $0.28 per share means a dividend yield of 5.92%. Their next ex-dividend date is July 10th, 2024 for payment on August 1st.
Near the end of April, AT&T shared their Q1 earnings report, with EPS of $0.55 sliding in just ahead of the $0.53 expected. Revenue was $30.02B, which did fall $510M short of estimates. Free cash flow of $3.1B was up $2.1B from the prior year. They did see postpaid phone suscribers rise, and affirmed their FY24 outlook.
The AT&T stock currently has 12 analyst ratings and comes in as a Strong Buy with 9 Buys and 3 Holds. The average Price Target of $21.50 would imply upside potential of $13.13% from current prices.
AbbVie
Our next dividend stock for July is biopharmaceutical company, AbbVie (ABBV). They focus on drugs to treat chronic and complex diseases. Their mission is to create innovative medicines and solutions that improve people’s lives. Their product line includes drugs that focus on oncology, immunology, neuroscience, eye care, medical aesthetics, and more.
AbbVie has been paying and growing their dividend for over a decade. Their current quarterly dividend is $1.55 per share, for a dividend yield of 3.54%. The next ex-dividend date is July 15th, 2024, for a payment date of Aug 15th.
On April 26th, AbbVie shared their Q1 report where they did post an earnings beat. Q1 EPS of $2.31 came in $0.05 ahead of estimates. Net revenue was $12.31 Billion, which beat estimates of $11.93B. While Humira revenues continue to fall, sales of their other big drugs, Skyrizi and Rinvoq, did jump YoY.
Their stock currently has 15 analyst ratings, for a Strong Buy rating based on 12 Buys and 3 Holds. The average Price Target of $185.46 would imply an upside potential of 8.95% from current prices.
NiSource
For our fifth dividend stock, we are looking at NiSource (NI). NiSource is engaged in energy solutions. They are a regulated utility company providing energy solutions to more than 3.2 million customers in 6 United states. NiSource’s electric operations include power generation, transmission and local distribution, as well as wholesale and electric transmission transactions. They provide electric energy to nearly 500,000 customers.
Their ex-dividend date is right at the end of the month, on July 31st 2024, with a payment date of Aug 20th. Their current quarterly dividend is $0.26 per share, for a dividend yield of 3.55%. They have been consistently growing their dividend for 9 years.
Also on July 31st, they’ll be sharing their Q2 earnings report, which follows a Q1 earnings beat back in May. Revenue of $1.71 billion did fall short of estimates, but EPS of $0.85 beat by $0.02. The company did reaffirm their 2024 outlook.
The NiSource stock is rated a Strong Buy with 6 current analyst ratings, breaking down to 5 Buys and 1 Hold. The average Price Target of $31.33 would imply an upside potential of 9.20%.
To find other Dividend Stocks, visit TipRanks Dividend Calendar.
