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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Cadence Bank, Essential Utilities, and Morgan Stanley have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of over 3%.

Cadence Bank

Cadence Bank (NYSE:CADE) provides commercial banking and financial services in the U.S.

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Cadence Bank has increased its dividends every year for the last 12 years. In its most recent dividend hike announcement on Jan. 22, the company's board raised the quarterly payout by 10% to $0.275 per share, equal to an annual figure of $1.10 per share. Currently, the dividend yield on the stock is 3.79%.

Cadence Bank’s annual revenue as of Dec. 31 stood at $1.79 billion. In its Q1 2025 earnings report on April 21, the company posted revenues of $448.54 million, missing the consensus estimate of $451.05 million, while EPS of $0.71 came in above the consensus of $0.64.

Check out this article by Benzinga for five analysts' insights on Cadence Bank.

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Essential Utilities

Essential Utilities (NYSE:WTRG) operates regulated utilities that provide water, wastewater, and natural gas services in the U.S.

Essential Utilities has raised its dividends consecutively for the last 33 years. In its most recent dividend hike announcement on July 31, 2024, it increased the quarterly payout by 6% to $0.3255 per share, which is equal to an annual figure of $1.302 per share. More recently, in its dividend announcement on Feb. 19, the company maintained the payout at the same level. The dividend yield on the stock currently stands at 3.23%.

The company’s annual revenue as of Dec. 31 stood at $2.09 billion. As per its Q4 2024 earnings release on Feb. 26, the company posted revenues of $604.38 million and EPS of $0.67, both coming in above the consensus estimates.