Looking For Yields: Avista, Fidelity National Financial And Hess Midstream Are Consistent Moneymakers
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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Avista, Fidelity National Financial and Hess Midstream have rewarded shareholders for decades and recently announced dividend increases. These companies currently offer dividend yields of up to 7%.
Avista Corporation (NYSE:AVA) is an energy company that produces, transmits, distributes and operates other energy-related businesses. Avista Utilities provides electric service to 415,000 customers and natural gas to 378,000 customers.
The company has raised its dividends consecutively for the last 22 years. According to its most recent dividend hike announcement on Feb. 7, its board of directors raised the quarterly dividend from $0.46 to $0.475 per share, equivalent to $1.90 annually. Currently, the dividend yield on the stock is 5%.
Avista's annual revenue (as of Sept. 30) is $1.9 billion. According to the company’s most recent earnings announcement on Nov. 6, it posted Q3 2024 revenues of $383.75 million, compared to the consensus estimate of $389.29 million and an EPS of $0.23, compared to the consensus estimate of $0.13.
"Our consolidated financial results reflect a continued improvement from 2023. With headwinds from higher-than-expected power supply, medical and bad debt costs and ongoing legal expenses, we expect to be at the low end of the Avista Utilities guidance range,” said Avista CEO Dennis Vermillion.
Fidelity National Financial (NYSE:FNF) offers various insurance products in the United States. It offers title insurance, escrow and other title-related services, including trust activities, trustee sales guarantees, recordings and reconveyances and home warranty products.
Fidelity National Financial has increased its dividends yearly for the last 13 years. As per its most recent dividend announcement on Nov. 7, its board of directors raised the quarterly dividend by 4% to $0.50 per common share, equivalent to $2 annualized. The current yield on the stock is 3.18%.
The company’s annual revenue (as of Sept. 30) stood at $13.2 billion. As per the company’s most recent earnings release on Nov. 6, it generated Q3 2024 revenues of $3.60 billion, compared to the consensus estimate of $3.32 billion and an EPS of $1.30, compared to the consensus of $1.39.
How is the market feeling about Fidelity National Financial? Check out this article by Benzinga to learn more.
Hess Midstream LP (NYSE:HESM) owns, operates, develops and acquires a diverse set of midstream assets and provides fee-based services to Hess and third-party customers. It conducts its business through three operating segments: gathering, processing, storage and terminating and exporting.
Hess Midstream has raised dividends every year since 2017. As per its most recent dividend announcement on Oct. 28, its board of directors increased the quarterly dividend from $0.6677 to $0.6846, equivalent to $2.74 annually. The dividend yield on the stock currently stands at 7.27%.
Hess Midstream’s annual revenue (as of Sept. 30) stood at $1.5 billion. According to the company’s most recent earnings announcement on Oct. 30, it posted Q3 2024 revenues of $378.50 million, above the consensus estimate of $376.98 million, while the EPS of $0.63 missed the consensus estimate of $0.66.
Avista, Fidelity National Financial and Hess Midstream are good choices for investors seeking reliable passive income. Their dividend yields of up to 7% and long history of consistent hikes make them attractive to income-focused investors.
Check out this article by Benzinga for three more stocks offering high dividend yields.
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