Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Hess Midstream, Southern and LCI Industries have rewarded shareholders for decades and recently announced dividend increases. These companies currently offer dividend yields of up to 7%.
Hess Midstream
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, terminating and exporting.
The company has increased dividends every year for the last eight years. According to its most recent dividend hike announcement on Oct. 28, its board of directors raised the quarterly dividend from $0.6677 to $0.6846, which is equal to $2.74 annually. Currently, the dividend yield on the stock is 7.22%.
Hess Midstream's annual revenue (as of Sept. 30) stood at $1.45 billion. According to its most recent earnings release on Oct. 30, the company posted Q3 2024 revenues of $378.50 million, better than the consensus of $376.98 million, while the EPS of $0.63 missed the consensus estimate of $0.66.
The Southern Company (NYSE:SO) generates, transmits and distributes electricity. Incorporated in 1945 and headquartered in Atlanta, Georgia, it is one of the largest utilities in the U.S. It serves nine million customers with vertically integrated electric utilities in three states and natural gas distribution utilities in four states.
Southern has raised its dividends every year since 2001. In its most recent dividend hike announcement on April 22, the company increased the quarterly dividend from $0.70 to $0.72, which is equal to an annual figure of $2.88 per share. The dividend yield on the stock currently stands at 3.55%.
Southern's annual revenue (as of Sept. 30) stood at $26.43 billion. As per its most recent earnings release on Oct. 31, it posted Q3 2024 revenues of $7.27 billion, below the consensus estimate of $7.29 billion, while the EPS of $1.43 came in above the consensus of $1.34.
Check out this article by Benzinga to learn how much it would take to earn $100 a month from Southern stock.
LCI Industries (NYSE:LCII) supplies domestic and international components for the original equipment manufacturers of recreational vehicles and adjacent industries, including buses and trailers for hauling boats, livestock, equipment and other cargo.
The company has consistently increased dividends every year since 2016. As per its most recent dividend announcement on Nov. 14, LCI Industries increased the quarterly dividend from $1.05 to $1.15 per share, equaling an annual figure of $4.60 per share. The current yield on the dividend stands at 4.50%.
LCI Industries’ annual revenue (as of Sept. 30) stood at $3.78 billion. According to its most recent earnings announcement on Nov. 7, it posted Q3 2024 EPS of $1.39, compared to the consensus of $1.37 and revenues of $915.50 million, compared to the consensus estimate of $922.81 million.
Hess Midstream, Southern and LCI Industries 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.
Looking For Higher-Yield Opportunities In A Shifting Market?
The changing interest rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through dividend stocks... Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities and Benzinga has identified some of the most attractive options for you to consider.
For instance, the Ascent Income Fund from EquityMultiple targets stable income from senior commercial real estate debt positions and has a historical distribution yield of 12.1% backed by real assets. With payment priority and flexible liquidity options, the Ascent Income Fund is a cornerstone investment vehicle for income-focused investors. First-time investors with EquityMultiple can now invest in the Ascent Income Fund with a reduced minimum of just $5,000. Benzinga Readers: Earn a 1% return boost on your first EquityMultiple investment when you sign up here (accredited investors only).
