September has come to a close, and it turned out to be one of the most remarkable months of the year for both the markets and my personal dividend journey. While global markets continued their steady climb, my portfolio had some spectacular movers, and my dividend income hit new highs—fueled by a very special one-off payment.
Global Market Performance in September
The overall market mood in September was optimistic. Despite lingering concerns around interest rates, inflation, and global growth, equities pushed higher:
AEXGR (Netherlands): +5.1% – Dutch equities delivered the strongest performance among the indices I track, with standout results from ASML lifting the index.
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SX5E (Euro Stoxx 50): +2.6% – European blue chips continued their steady upward trend.
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IWDA (World ETF): +2.4% – global diversification once again rewarded investors, reflecting broad-based gains across regions.
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DJITR (Dow Jones Industrial Total Return): +2.4% – U.S. industrials held firm, with defensive sectors still in demand.
S&P 500: +3.8% – technology and growth stocks pulled the index higher, driven by AI enthusiasm and solid earnings from big tech.
In short: September was another strong month for equities, with the Dutch market leading the way and the S&P 500 showing robust gains.
Portfolio Movers: Top 3 Gainers and Losers
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ASML +30%
Semiconductor stocks were on fire in September, and ASML stood out with a massive +30% gain. Investor enthusiasm for chipmaking equipment surged as demand projections for AI and high-performance computing pushed growth expectations higher. ASML remains one of my key European holdings, and this month’s jump shows why. -
MPW (Medical Properties Trust) +15%
MPW continued its recovery story. After months of bad news, the REIT reassured investors with progress on asset sales and refinancing, which eased concerns about its balance sheet. The high dividend yield remains controversial, but sentiment clearly shifted. -
MPWR (Monolithic Power Systems) +12%
Another semiconductor name, MPWR benefited from the same AI-driven optimism that boosted ASML. With its niche in power solutions, MPWR is increasingly seen as a strong long-term compounder in the chip sector.
TXN (Texas Instruments) -8%
After bouncing back in August, Texas Instruments fell again in September. Concerns about slowing demand in automotive and industrial chips weighed on the stock. While it remains a reliable dividend payer, near-term growth expectations are under pressure.-
APD (Air Products & Chemicals) -7%
APD dropped as investors worried about slowing industrial gas demand and rising project costs. Long term, hydrogen and clean energy remain exciting growth drivers, but the market wants more clarity on execution. -
UNA (Unilever) -7%
Unilever lagged as consumer staples fell out of favor in September. While the company continues to deliver steady cash flow, growth is slow, and investors rotated into more cyclical and growth-oriented names.
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21 stocks posted gains, with ASML, MPW, and MPWR leading the charge. On average the winners increased by more than 6%.
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16 stocks declined, with most losses between -2% and -8% (on average 3,5%).
This positive skew meant my portfolio kept pace with the strong global markets.
Dividend Income – September 2025 vs. September 2024
Now to the highlight of the month: dividend income.
That’s a staggering +439.5% increase year-over-year compared to last year.
The outsized jump came from a very special one-off payout from my employer, Brink, which paid €2.681 in dividends this month. This extraordinary event pushed my total far beyond a “normal” September. Excluding Brink, dividend growth was still strong, with a +12% YoY increase and that is with a 6% headwind in FX.
Notable dividend growers included:
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AFL +16%
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WMT +13.3%
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V +13.5%
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CMI +9.9%
On the flip side, Intel dropped off the list after I sold the stock back in August 2024.
Final Thoughts
September 2025 will go down as a landmark month in my dividend journey. The extraordinary payout from Brink pushed my income to levels I never imagined when I started this blog. But even without that one-time boost, the underlying picture is healthy: U.S. dividends are growing nicely, European names like ASML are delivering capital gains, and the portfolio is broadly participating in market strength.
It’s important to remember, though, that one-off events won’t repeat every year. The real story is the steady, compounding growth from reliable dividend growers.
As John D. Rockefeller once said:
“Do you know the only thing that gives me pleasure? It’s to see my dividends coming in.”
And this September, they certainly did.
